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OPPJ vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OPPJ vs. DBE

Last updated Jun 4, 2026

OPPJ (WisdomTree Japan Opportunities ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, OPPJ returned 17.36%/yr vs 12.03%/yr for DBE. At a 0.17 correlation, their price movements are largely independent. OPPJ charges 0.58%/yr vs 0.78%/yr for DBE.

Performance

OPPJ vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Opportunities ETF (OPPJ) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, OPPJ achieves a 26.16% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, OPPJ has outperformed DBE with an annualized return of 17.36%, while DBE has yielded a comparatively lower 12.03% annualized return.

OPPJ

1D
-0.02%
1M
2.99%
YTD
26.16%
6M
32.96%
1Y
64.97%
3Y*
34.91%
5Y*
25.18%
10Y*
17.36%

DBE

1D
2.33%
1M
-5.45%
YTD
83.68%
6M
74.95%
1Y
84.41%
3Y*
23.42%
5Y*
19.66%
10Y*
12.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

OPPJ vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
OPPJ
WisdomTree Japan Opportunities ETF		26.16%37.08%20.70%38.96%5.02%11.66%-3.22%18.24%-18.69%29.56%
DBE
Invesco DB Energy Fund		83.68%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between OPPJ and DBE is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.21

Correlation (3Y)
Calculated over the trailing 3-year period

-0.04

Correlation (5Y)
Calculated over the trailing 5-year period

0.08

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Jul 1, 2013

0.17

The correlation between OPPJ and DBE shifts across timeframes, from -0.21 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree Japan Opportunities ETF

Invesco DB Energy Fund

Often compared with OPPJ:
OPPJ vs. DXJOPPJ vs. EWJVOPPJ vs. DXJSOPPJ vs. FLJHOPPJ vs. GVALOPPJ vs. EUFNOPPJ vs. EWJ
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

OPPJ vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
OPPJ
OPPJ Risk / Return Rank: 9191
Overall Rank
OPPJ Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
OPPJ Sortino Ratio Rank: 9191
Sortino Ratio Rank
OPPJ Omega Ratio Rank: 8787
Omega Ratio Rank
OPPJ Calmar Ratio Rank: 9393
Calmar Ratio Rank
OPPJ Martin Ratio Rank: 9292
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6363
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6363
Martin Ratio Rank
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.

OPPJ vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and Invesco DB Energy Fund (DBE). 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.

OPPJDBEDifference
Sharpe ratioReturn per unit of total volatility
3.33
2.43

+0.90

Sortino ratioReturn per unit of downside risk
4.34
2.96

+1.39

Omega ratioGain probability vs. loss probability

1.55

1.40

+0.15

Calmar ratioReturn relative to maximum drawdown

6.65

5.89

+0.76

Martin ratioReturn relative to average drawdown

23.90

11.53

+12.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OPPJ vs. DBE - Sharpe Ratio Comparison

The current OPPJ Sharpe Ratio is 3.33, which is higher than the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of OPPJ and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

OPPJDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.33

2.43

+0.90

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.40

0.67

+0.73

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

0.43

+0.46

Sharpe Ratio (All Time)

Calculated using the full available price history

0.76

0.09

+0.66

Drawdowns

OPPJ vs. DBE - Drawdown Comparison

The maximum OPPJ drawdown since its inception was -39.30%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for OPPJ and DBE.

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Drawdown Indicators

OPPJDBEDifference

Max Drawdown

Largest peak-to-trough decline

-39.30%

-86.69%

+47.39%

Max Drawdown (1Y)

Largest decline over 1 year

-9.82%

-14.41%

+4.59%

Max Drawdown (3Y)

Largest decline over 3 years

-16.49%

-23.89%

+7.40%

Max Drawdown (5Y)

Largest decline over 5 years

-16.49%

-38.74%

+22.25%

Max Drawdown (10Y)

Largest decline over 10 years

-39.30%

-60.84%

+21.54%

Current Drawdown

Current decline from peak

-4.27%

-30.27%

+26.00%

Average Drawdown

Average peak-to-trough decline

-6.49%

-57.31%

+50.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.73%

7.35%

-4.62%

Volatility

OPPJ vs. DBE - Volatility Comparison

The current volatility for WisdomTree Japan Opportunities ETF (OPPJ) is 5.08%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that OPPJ experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OPPJDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.08%

12.95%

-7.87%

Volatility (6M)

Calculated over the trailing 6-month period

15.39%

30.86%

-15.47%

Volatility (1Y)

Calculated over the trailing 1-year period

19.64%

34.97%

-15.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.05%

29.39%

-11.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.71%

28.33%

-8.62%

OPPJ vs. DBE - Expense Ratio Comparison

OPPJ has a 0.58% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

OPPJ vs. DBE - Dividend Comparison

OPPJ's dividend yield for the trailing twelve months is around 1.50%, less than DBE's 2.10% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.10%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
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 DBE have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (12.95%) compared to OPPJ (5.08%). In terms of maximum drawdown, OPPJ dropped -39.30% vs DBE's -86.69%.

On 10-year performance, OPPJ leads with 17.36% vs 12.03% for DBE. On fees, OPPJ is cheaper at 0.58% per year. On volatility, OPPJ has been the lower-risk option at 5.08%. 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 17.36% return vs 12.03%. 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 0.78% for DBE.

DBE has the higher dividend yield at 2.10%, compared with 1.50% for OPPJ.

OPPJ is categorized as Japan Equities, while DBE is Oil & Gas. OPPJ tracks WisdomTree Japan Opportunities Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.58% for OPPJ and 0.78% for DBE.

OPPJ currently has the higher Sharpe Ratio (3.33 vs 2.43), 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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