JPXN vs. OPPJ
JPXN (iShares JPX-Nikkei 400 ETF) and OPPJ (WisdomTree Japan Opportunities ETF) are both Japan Equities funds - JPXN tracks the JPX-Nikkei Index 400 while OPPJ tracks the WisdomTree Japan Opportunities Index. Both are passively managed. Over the past 10 years, JPXN returned 9.05%/yr vs 17.20%/yr for OPPJ. A 0.73 correlation means they provide meaningful diversification when combined. JPXN charges 0.48%/yr vs 0.58%/yr for OPPJ.
Performance
JPXN vs. OPPJ - Performance Comparison
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Returns By Period
In the year-to-date period, JPXN achieves a 15.82% return, which is significantly lower than OPPJ's 26.89% return. Over the past 10 years, JPXN has underperformed OPPJ with an annualized return of 9.05%, while OPPJ has yielded a comparatively higher 17.20% annualized return.
JPXN
- 1D
- 0.09%
- 1M
- 4.27%
- YTD
- 15.82%
- 6M
- 16.06%
- 1Y
- 30.74%
- 3Y*
- 17.95%
- 5Y*
- 8.72%
- 10Y*
- 9.05%
OPPJ
- 1D
- 0.58%
- 1M
- 1.97%
- YTD
- 26.89%
- 6M
- 31.50%
- 1Y
- 66.34%
- 3Y*
- 35.71%
- 5Y*
- 25.33%
- 10Y*
- 17.20%
JPXN vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPXN iShares JPX-Nikkei 400 ETF | 15.82% | 26.03% | 6.48% | 19.69% | -16.29% | 0.16% | 15.12% | 19.40% | -14.87% | 24.41% |
OPPJ WisdomTree Japan Opportunities ETF | 26.89% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between JPXN and OPPJ is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013 | 0.73 |
The correlation between JPXN and OPPJ has been stable across timeframes, ranging from 0.67 to 0.77 - a consistent structural relationship.
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Return for Risk
JPXN vs. OPPJ — Risk / Return Rank
JPXN
OPPJ
JPXN vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares JPX-Nikkei 400 ETF (JPXN) and WisdomTree Japan Opportunities ETF (OPPJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| JPXN | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.56 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 6.79 | -4.43 |
| Martin ratioReturn relative to average drawdown | 8.20 | 24.32 | -16.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JPXN | OPPJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 3.40 | -1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 1.41 | -0.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.88 | -0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.76 | -0.49 |
Drawdowns
JPXN vs. OPPJ - Drawdown Comparison
The maximum JPXN drawdown since its inception was -55.54%, which is greater than OPPJ's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for JPXN and OPPJ.
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Drawdown Indicators
| JPXN | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.54% | -39.30% | -16.24% |
Max Drawdown (1Y)Largest decline over 1 year | -13.11% | -9.82% | -3.29% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -16.49% | +2.54% |
Max Drawdown (5Y)Largest decline over 5 years | -33.21% | -16.49% | -16.72% |
Max Drawdown (10Y)Largest decline over 10 years | -33.21% | -39.30% | +6.09% |
Current DrawdownCurrent decline from peak | -0.84% | -3.71% | +2.87% |
Average DrawdownAverage peak-to-trough decline | -15.06% | -6.49% | -8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 2.74% | +1.02% |
Volatility
JPXN vs. OPPJ - Volatility Comparison
The current volatility for iShares JPX-Nikkei 400 ETF (JPXN) is 4.26%, while WisdomTree Japan Opportunities ETF (OPPJ) has a volatility of 4.88%. This indicates that JPXN experiences smaller price fluctuations and is considered to be less risky than OPPJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPXN | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.26% | 4.88% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 14.68% | 15.39% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.76% | 19.63% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.69% | 18.04% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.06% | 19.71% | -2.65% |
JPXN vs. OPPJ - Expense Ratio Comparison
JPXN has a 0.48% expense ratio, which is lower than OPPJ's 0.58% expense ratio.
Dividends
JPXN vs. OPPJ - Dividend Comparison
JPXN's dividend yield for the trailing twelve months is around 2.71%, more than OPPJ's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPXN iShares JPX-Nikkei 400 ETF | 2.71% | 3.14% | 2.29% | 2.57% | 1.47% | 2.63% | 1.27% | 1.92% | 1.60% | 1.50% | 2.07% | 1.32% |
OPPJ WisdomTree Japan Opportunities ETF | 1.50% | 1.78% | 4.02% | 2.71% | 2.63% | 2.96% | 3.04% | 2.17% | 2.06% | 1.53% | 1.66% | 3.61% |
Frequently Asked Questions
JPXN and OPPJ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPPJ has higher volatility (4.88%) compared to JPXN (4.26%). In terms of maximum drawdown, JPXN dropped -55.54% vs OPPJ's -39.30%.
On 10-year performance, OPPJ leads with 17.20% vs 9.05% for JPXN. On fees, JPXN is cheaper at 0.48% per year. On volatility, JPXN has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, OPPJ has performed better with a 17.20% return vs 9.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPXN is cheaper with a 0.48% expense ratio, compared with 0.58% for OPPJ.
JPXN has the higher dividend yield at 2.71%, compared with 1.50% for OPPJ.
JPXN tracks JPX-Nikkei Index 400, while OPPJ tracks WisdomTree Japan Opportunities Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.48% for JPXN and 0.58% for OPPJ.
OPPJ currently has the higher Sharpe Ratio (3.40 vs 1.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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