OPPJ vs. AIRR
OPPJ (WisdomTree Japan Opportunities ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 10 years, OPPJ returned 17.80%/yr vs 22.05%/yr for AIRR. At a 0.48 correlation, their price movements are largely independent. OPPJ charges 0.58%/yr vs 0.69%/yr for AIRR.
Performance
OPPJ vs. AIRR - Performance Comparison
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Returns By Period
In the year-to-date period, OPPJ achieves a 26.23% return, which is significantly lower than AIRR's 31.74% return. Over the past 10 years, OPPJ has underperformed AIRR with an annualized return of 17.80%, while AIRR has yielded a comparatively higher 22.05% annualized return.
OPPJ
- 1D
- 1.04%
- 1M
- -4.22%
- YTD
- 26.23%
- 6M
- 27.08%
- 1Y
- 64.16%
- 3Y*
- 33.91%
- 5Y*
- 25.20%
- 10Y*
- 17.80%
AIRR
- 1D
- 0.83%
- 1M
- -1.26%
- YTD
- 31.74%
- 6M
- 28.77%
- 1Y
- 67.12%
- 3Y*
- 35.29%
- 5Y*
- 25.46%
- 10Y*
- 22.05%
OPPJ vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OPPJ WisdomTree Japan Opportunities ETF | 26.23% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
AIRR First Trust RBA American Industrial Renaissance ETF | 31.74% | 27.92% | 33.45% | 31.43% | -2.08% | 33.01% | 17.17% | 33.97% | -20.57% | 16.28% |
Correlation
The correlation between OPPJ and AIRR is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014 | 0.48 |
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Return for Risk
OPPJ vs. AIRR — Risk / Return Rank
OPPJ
AIRR
OPPJ vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
| OPPJ | AIRR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.40 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 6.58 | 5.01 | +1.57 |
| Martin ratioReturn relative to average drawdown | 22.36 | 18.33 | +4.03 |
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Drawdowns
OPPJ vs. AIRR - Drawdown Comparison
The maximum OPPJ drawdown since its inception was -39.30%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for OPPJ and AIRR.
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Drawdown Indicators
| OPPJ | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -42.37% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -13.09% | +3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -27.95% | +11.46% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -27.95% | +11.46% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -42.37% | +3.07% |
Current DrawdownCurrent decline from peak | -4.22% | -1.89% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -7.48% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 3.57% | -0.68% |
Volatility
OPPJ vs. AIRR - Volatility Comparison
The current volatility for WisdomTree Japan Opportunities ETF (OPPJ) is 5.83%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 9.32%. This indicates that OPPJ experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPPJ | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 9.32% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 15.99% | 20.81% | -4.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.10% | 26.19% | -6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.15% | 25.45% | -7.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.73% | 26.36% | -6.63% |
OPPJ vs. AIRR - Expense Ratio Comparison
OPPJ has a 0.58% expense ratio, which is lower than AIRR's 0.69% expense ratio.
Dividends
OPPJ vs. AIRR - Dividend Comparison
OPPJ's dividend yield for the trailing twelve months is around 1.50%, more than AIRR's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
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
OPPJ and AIRR have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIRR has higher volatility (9.32%) compared to OPPJ (5.83%). In terms of maximum drawdown, OPPJ dropped -39.30% vs AIRR's -42.37%.
On 10-year performance, AIRR leads with 22.05% vs 17.80% for OPPJ. On fees, OPPJ is cheaper at 0.58% per year. On volatility, OPPJ has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AIRR has performed better with a 22.05% return vs 17.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OPPJ is cheaper with a 0.58% expense ratio, compared with 0.69% for AIRR.
OPPJ has the higher dividend yield at 1.50%, compared with 0.13% for AIRR.
OPPJ is categorized as Japan Equities, while AIRR is Building & Construction. OPPJ tracks WisdomTree Japan Opportunities Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. They also come from different issuers: WisdomTree and First Trust. Their fees differ too: 0.58% for OPPJ and 0.69% for AIRR.
OPPJ currently has the higher Sharpe Ratio (3.22 vs 2.50), 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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