OPPJ vs. DXJS
OPPJ (WisdomTree Japan Opportunities ETF) and DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) are both Japan Equities funds from WisdomTree - OPPJ tracks the WisdomTree Japan Opportunities Index while DXJS tracks the WisdomTree Japan Hedged SmallCap Equity Index. Both are passively managed. Over the past 10 years, OPPJ returned 17.36%/yr vs 17.36%/yr for DXJS. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.58% expense ratio.
Performance
OPPJ vs. DXJS - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with OPPJ at 26.18% and DXJS at 26.18%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: OPPJ at 17.36% and DXJS at 17.36%.
OPPJ
- 1D
- 1.11%
- 1M
- 2.92%
- YTD
- 26.18%
- 6M
- 32.46%
- 1Y
- 64.28%
- 3Y*
- 34.92%
- 5Y*
- 25.56%
- 10Y*
- 17.36%
DXJS
- 1D
- 1.11%
- 1M
- 2.92%
- YTD
- 26.18%
- 6M
- 32.46%
- 1Y
- 64.28%
- 3Y*
- 34.92%
- 5Y*
- 25.56%
- 10Y*
- 17.36%
OPPJ vs. DXJS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OPPJ WisdomTree Japan Opportunities ETF | 26.18% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
DXJS WisdomTree Japan Hedged SmallCap Equity Fund | 26.18% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between OPPJ and DXJS is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013 | 1.00 |
The correlation between OPPJ and DXJS has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
OPPJ vs. DXJS — Risk / Return Rank
OPPJ
DXJS
OPPJ vs. DXJS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and WisdomTree Japan Hedged SmallCap Equity Fund (DXJS). 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 | DXJS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.29 | 3.29 | 0.00 |
Sortino ratioReturn per unit of downside risk | 4.31 | 4.31 | 0.00 |
Omega ratioGain probability vs. loss probability | 1.55 | 1.55 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 6.70 | 6.70 | 0.00 |
Martin ratioReturn relative to average drawdown | 24.26 | 24.26 | 0.00 |
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 | DXJS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.29 | 3.29 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.42 | 1.42 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.88 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.76 | 0.00 |
Drawdowns
OPPJ vs. DXJS - Drawdown Comparison
The maximum OPPJ drawdown since its inception was -39.30%, roughly equal to the maximum DXJS drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for OPPJ and DXJS.
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Drawdown Indicators
| OPPJ | DXJS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -39.30% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -9.82% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -16.49% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -16.49% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -39.30% | 0.00% |
Current DrawdownCurrent decline from peak | -4.25% | -4.25% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -6.49% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 2.71% | 0.00% |
Volatility
OPPJ vs. DXJS - Volatility Comparison
WisdomTree Japan Opportunities ETF (OPPJ) and WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) have volatilities of 5.08% and 5.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPPJ | DXJS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 5.08% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 15.43% | 15.43% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.65% | 19.65% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 18.05% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 19.71% | 0.00% |
OPPJ vs. DXJS - Expense Ratio Comparison
Both OPPJ and DXJS have an expense ratio of 0.58%.
Dividends
OPPJ vs. DXJS - Dividend Comparison
OPPJ's dividend yield for the trailing twelve months is around 1.50%, which matches DXJS's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXJS WisdomTree Japan Hedged SmallCap Equity Fund | 1.50% | 1.78% | 4.02% | 2.71% | 2.63% | 2.96% | 3.04% | 2.17% | 2.06% | 1.53% | 1.66% | 3.61% |
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
With a correlation of 1.00, OPPJ and DXJS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DXJS has higher volatility (5.08%) compared to OPPJ (5.08%). In terms of maximum drawdown, OPPJ dropped -39.30% vs DXJS's -39.30%.
On 10-year performance, DXJS leads with 17.36% vs 17.36% for OPPJ. Both ETFs have the same 0.58% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DXJS has performed better with a 17.36% return vs 17.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OPPJ and DXJS have the same expense ratio: 0.58% per year.
OPPJ and DXJS have nearly identical dividend yields, around 1.50%.
OPPJ tracks WisdomTree Japan Opportunities Index, while DXJS tracks WisdomTree Japan Hedged SmallCap Equity Index.
DXJS currently has the higher Sharpe Ratio (3.29 vs 3.29), 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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