OPPE vs. DXJ

Last updated Jun 24, 2026

OPPE (WisdomTree European Opportunities Fund) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - OPPE is a Europe Equities fund tracking the WisdomTree European Opportunities Index, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, OPPE returned 13.17%/yr vs 19.25%/yr for DXJ. A 0.64 correlation means they provide meaningful diversification when combined. OPPE charges 0.58%/yr vs 0.48%/yr for DXJ.

Performance

OPPE vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree European Opportunities Fund (OPPE) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPPE achieves a 11.16% return, which is significantly lower than DXJ's 20.23% return. Over the past 10 years, OPPE has underperformed DXJ with an annualized return of 13.17%, while DXJ has yielded a comparatively higher 19.25% annualized return.

OPPE

• 1D: -0.52%
• 1M: -0.94%
• YTD: 11.16%
• 6M: 11.70%
• 1Y: 26.73%
• 3Y*: 23.44%
• 5Y*: 14.00%
• 10Y*: 13.17%

DXJ

• 1D: -3.57%
• 1M: 2.21%
• YTD: 20.23%
• 6M: 20.18%
• 1Y: 55.89%
• 3Y*: 31.66%
• 5Y*: 26.40%
• 10Y*: 19.25%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OPPE vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OPPE WisdomTree European Opportunities Fund	11.16%	38.80%	10.42%	19.80%	-11.14%	23.52%	-2.92%	28.60%	-13.34%	22.25%
DXJ WisdomTree Japan Hedged Equity Fund	20.23%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%

Correlation

The correlation between OPPE and DXJ is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 4, 2015	0.64

The correlation between OPPE and DXJ shifts across timeframes, from 0.50 (3 years) to 0.64 (all time), reflecting how their relationship changes across market environments.

OPPE vs. DXJ - Sectors Allocation Comparison

Sectors	OPPE	DXJ
Industrials	28.1%	27.4%
Financial Services	23.3%	18.3%
Basic Materials	11.0%	8.5%
Energy	8.7%	1.7%
Technology	7.8%	12.9%
Utilities	6.0%	0.1%
Healthcare	4.6%	6.8%
Consumer Defensive	4.2%	4.7%
Consumer Cyclical	3.3%	15.6%
Communication Services	1.5%	2.7%
Real Estate	1.4%	-

Return for Risk

OPPE vs. DXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OPPE

OPPE Risk / Return Rank: 62
OPPE Sharpe Ratio Rank: 60
OPPE Sortino Ratio Rank: 59
OPPE Omega Ratio Rank: 58
OPPE Calmar Ratio Rank: 65
OPPE Martin Ratio Rank: 66

DXJ

DXJ Risk / Return Rank: 90
DXJ Sharpe Ratio Rank: 92
DXJ Sortino Ratio Rank: 90
DXJ Omega Ratio Rank: 90
DXJ Calmar Ratio Rank: 89
DXJ Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OPPE vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree European Opportunities Fund (OPPE) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	OPPE	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.86	3.10	-1.23
Sortino ratio: Return per unit of downside risk	2.60	4.02	-1.42
Omega ratio: Gain probability vs. loss probability	1.33	1.55	-0.22
Calmar ratio: Return relative to maximum drawdown	3.04	5.12	-2.08
Martin ratio: Return relative to average drawdown	11.44	19.78	-8.34

OPPE vs. DXJ - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 1.86, which is lower than the DXJ Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of OPPE and DXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OPPE vs. DXJ - Drawdown Comparison

The maximum OPPE drawdown since its inception was -39.28%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for OPPE and DXJ.

Drawdown Indicators

	OPPE	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-49.63%	+10.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-10.98%	+2.15%
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	-22.19%	+7.15%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-22.19%	-2.30%
Max Drawdown (10Y) Largest decline over 10 years	-39.28%	-39.14%	-0.14%
Current Drawdown Current decline from peak	-2.21%	-3.57%	+1.36%
Average Drawdown Average peak-to-trough decline	-5.45%	-14.30%	+8.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.83%	-0.49%

Volatility

OPPE vs. DXJ - Volatility Comparison

The current volatility for WisdomTree European Opportunities Fund (OPPE) is 4.89%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 6.28%. This indicates that OPPE experiences smaller price fluctuations and is considered to be less risky than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPPE	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	6.28%	-1.39%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	14.08%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	18.14%	-3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	19.08%	-3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	20.00%	-3.02%

OPPE vs. DXJ - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is higher than DXJ's 0.48% expense ratio.

Dividends

OPPE vs. DXJ - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.76%, more than DXJ's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	1.08%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
OPPE WisdomTree European Opportunities Fund	2.76%	2.95%	3.99%	3.53%	5.13%	2.39%	3.42%	3.08%	2.34%	1.46%	2.60%	4.39%

Frequently Asked Questions

Can I hold both OPPE and DXJ in my portfolio?

OPPE and DXJ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPPE or DXJ?

DXJ has higher volatility (6.28%) compared to OPPE (4.89%). In terms of maximum drawdown, OPPE dropped -39.28% vs DXJ's -49.63%.

Which ETF is better, OPPE or DXJ?

On 10-year performance, DXJ leads with 19.25% vs 13.17% for OPPE. On fees, DXJ is cheaper at 0.48% per year. On volatility, OPPE has been the lower-risk option at 4.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPPE or DXJ?

Over the 10-year period, DXJ has performed better with a 19.25% return vs 13.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPPE or DXJ?

DXJ is cheaper with a 0.48% expense ratio, compared with 0.58% for OPPE.

Which ETF pays a higher dividend yield, OPPE or DXJ?

OPPE has the higher dividend yield at 2.76%, compared with 1.08% for DXJ.

What is the main difference between OPPE and DXJ?

OPPE is categorized as Europe Equities, while DXJ is Japan Equities. OPPE tracks WisdomTree European Opportunities Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. Their fees differ too: 0.58% for OPPE and 0.48% for DXJ.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (3.10 vs 1.86), 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.