OPPJ vs. DFJ
OPPJ (WisdomTree Japan Opportunities ETF) and DFJ (WisdomTree Japan SmallCap Dividend Fund) are both Japan Equities funds from WisdomTree - OPPJ tracks the WisdomTree Japan Opportunities Index while DFJ tracks the WisdomTree Japan SmallCap Dividend Index. Both are passively managed. Over the past 10 years, OPPJ returned 17.36%/yr vs 8.70%/yr for DFJ. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.58% expense ratio.
Performance
OPPJ vs. DFJ - Performance Comparison
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Returns By Period
In the year-to-date period, OPPJ achieves a 26.16% return, which is significantly higher than DFJ's 9.06% return. Over the past 10 years, OPPJ has outperformed DFJ with an annualized return of 17.36%, while DFJ has yielded a comparatively lower 8.70% 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%
DFJ
- 1D
- -0.46%
- 1M
- 2.01%
- YTD
- 9.06%
- 6M
- 12.58%
- 1Y
- 26.81%
- 3Y*
- 18.99%
- 5Y*
- 9.51%
- 10Y*
- 8.70%
OPPJ vs. DFJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
DFJ WisdomTree Japan SmallCap Dividend Fund | 9.06% | 31.90% | 2.80% | 21.81% | -9.00% | 0.38% | 1.29% | 16.98% | -18.53% | 32.14% |
Correlation
The correlation between OPPJ and DFJ is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013 | 0.78 |
The correlation between OPPJ and DFJ has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.
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Return for Risk
OPPJ vs. DFJ — Risk / Return Rank
OPPJ
DFJ
OPPJ vs. DFJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and WisdomTree Japan SmallCap Dividend Fund (DFJ). 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.
| OPPJ | DFJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.29 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 6.65 | 2.07 | +4.58 |
| Martin ratioReturn relative to average drawdown | 23.90 | 6.01 | +17.89 |
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
| OPPJ | DFJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.33 | 1.65 | +1.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.40 | 0.60 | +0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.51 | +0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.31 | +0.45 |
Drawdowns
OPPJ vs. DFJ - Drawdown Comparison
The maximum OPPJ drawdown since its inception was -39.30%, smaller than the maximum DFJ drawdown of -46.00%. Use the drawdown chart below to compare losses from any high point for OPPJ and DFJ.
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Drawdown Indicators
| OPPJ | DFJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -46.00% | +6.70% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -13.03% | +3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -13.03% | -3.46% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -29.71% | +13.22% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -40.02% | +0.72% |
Current DrawdownCurrent decline from peak | -4.27% | -6.92% | +2.65% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -11.15% | +4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 4.47% | -1.74% |
Volatility
OPPJ vs. DFJ - Volatility Comparison
WisdomTree Japan Opportunities ETF (OPPJ) has a higher volatility of 5.08% compared to WisdomTree Japan SmallCap Dividend Fund (DFJ) at 4.15%. This indicates that OPPJ's price experiences larger fluctuations and is considered to be riskier than DFJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPPJ | DFJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 4.15% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 15.39% | 13.48% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.64% | 16.39% | +3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 15.89% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 16.95% | +2.76% |
OPPJ vs. DFJ - Expense Ratio Comparison
Both OPPJ and DFJ have an expense ratio of 0.58%.
Dividends
OPPJ vs. DFJ - Dividend Comparison
OPPJ's dividend yield for the trailing twelve months is around 1.50%, less than DFJ's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFJ WisdomTree Japan SmallCap Dividend Fund | 2.44% | 2.68% | 2.46% | 2.43% | 2.62% | 2.07% | 2.59% | 2.24% | 1.89% | 1.60% | 1.76% | 1.23% |
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 DFJ have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPPJ has higher volatility (5.08%) compared to DFJ (4.15%). In terms of maximum drawdown, OPPJ dropped -39.30% vs DFJ's -46.00%.
On 10-year performance, OPPJ leads with 17.36% vs 8.70% for DFJ. Both ETFs have the same 0.58% expense ratio. On volatility, DFJ has been the lower-risk option at 4.15%. 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 8.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OPPJ and DFJ have the same expense ratio: 0.58% per year.
DFJ has the higher dividend yield at 2.44%, compared with 1.50% for OPPJ.
OPPJ tracks WisdomTree Japan Opportunities Index, while DFJ tracks WisdomTree Japan SmallCap Dividend Index.
OPPJ currently has the higher Sharpe Ratio (3.33 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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