OPPJ vs. EWY
OPPJ (WisdomTree Japan Opportunities ETF) and EWY (iShares MSCI South Korea ETF) are both exchange-traded funds - OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index, while EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index. Both are passively managed. Over the past 10 years, OPPJ returned 17.36%/yr vs 17.46%/yr for EWY. At a 0.41 correlation, their price movements are largely independent. OPPJ charges 0.58%/yr vs 0.59%/yr for EWY.
Performance
OPPJ vs. EWY - Performance Comparison
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Returns By Period
In the year-to-date period, OPPJ achieves a 26.16% return, which is significantly lower than EWY's 119.05% return. Both investments have delivered pretty close results over the past 10 years, with OPPJ having a 17.36% annualized return and EWY not far ahead at 17.46%.
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%
EWY
- 1D
- -0.73%
- 1M
- 30.18%
- YTD
- 119.05%
- 6M
- 134.13%
- 1Y
- 251.82%
- 3Y*
- 51.99%
- 5Y*
- 20.31%
- 10Y*
- 17.46%
OPPJ vs. EWY - 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% |
EWY iShares MSCI South Korea ETF | 119.05% | 95.33% | -20.48% | 19.05% | -26.59% | -7.58% | 39.43% | 7.97% | -20.37% | 44.97% |
Correlation
The correlation between OPPJ and EWY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013 | 0.41 |
The correlation between OPPJ and EWY shifts across timeframes, from 0.29 (3 years) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OPPJ vs. EWY — Risk / Return Rank
OPPJ
EWY
OPPJ vs. EWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and iShares MSCI South Korea ETF (EWY). 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 | EWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.74 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 6.65 | 10.99 | -4.34 |
| Martin ratioReturn relative to average drawdown | 23.90 | 40.91 | -17.01 |
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 | EWY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.33 | 6.02 | -2.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.40 | 0.71 | +0.70 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.64 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.33 | +0.42 |
Drawdowns
OPPJ vs. EWY - Drawdown Comparison
The maximum OPPJ drawdown since its inception was -39.30%, smaller than the maximum EWY drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for OPPJ and EWY.
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Drawdown Indicators
| OPPJ | EWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -74.14% | +34.84% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -23.08% | +13.26% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -27.36% | +10.87% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -48.55% | +32.06% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -49.73% | +10.43% |
Current DrawdownCurrent decline from peak | -4.27% | -1.73% | -2.54% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -20.13% | +13.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 6.19% | -3.46% |
Volatility
OPPJ vs. EWY - Volatility Comparison
The current volatility for WisdomTree Japan Opportunities ETF (OPPJ) is 5.08%, while iShares MSCI South Korea ETF (EWY) has a volatility of 20.32%. This indicates that OPPJ experiences smaller price fluctuations and is considered to be less risky than EWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPPJ | EWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 20.32% | -15.24% |
Volatility (6M)Calculated over the trailing 6-month period | 15.39% | 37.41% | -22.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.64% | 42.10% | -22.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 28.83% | -10.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 27.37% | -7.66% |
OPPJ vs. EWY - Expense Ratio Comparison
OPPJ has a 0.58% expense ratio, which is lower than EWY's 0.59% expense ratio.
Dividends
OPPJ vs. EWY - Dividend Comparison
OPPJ's dividend yield for the trailing twelve months is around 1.50%, more than EWY's 0.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWY iShares MSCI South Korea ETF | 0.96% | 2.10% | 2.55% | 2.52% | 1.23% | 2.16% | 0.73% | 2.10% | 1.34% | 2.90% | 1.21% | 2.42% |
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 EWY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWY has higher volatility (20.32%) compared to OPPJ (5.08%). In terms of maximum drawdown, OPPJ dropped -39.30% vs EWY's -74.14%.
On 10-year performance, EWY leads with 17.46% vs 17.36% for OPPJ. 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, EWY has performed better with a 17.46% return vs 17.36%. 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 0.59% for EWY.
OPPJ has the higher dividend yield at 1.50%, compared with 0.96% for EWY.
OPPJ is categorized as Japan Equities, while EWY is Asia Pacific Equities. OPPJ tracks WisdomTree Japan Opportunities Index, while EWY tracks MSCI Korea Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for OPPJ and 0.59% for EWY.
EWY currently has the higher Sharpe Ratio (6.02 vs 3.33), 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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