OPPJ vs. JEPQ

Last updated Jun 14, 2026

OPPJ (WisdomTree Japan Opportunities ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, OPPJ returned 33.91%/yr vs 19.91%/yr for JEPQ. At a 0.40 correlation, their price movements are largely independent. OPPJ charges 0.58%/yr vs 0.35%/yr for JEPQ.

Performance

OPPJ vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Opportunities ETF (OPPJ) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPPJ achieves a 26.23% return, which is significantly higher than JEPQ's 7.85% 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%

JEPQ

• 1D: 0.62%
• 1M: 0.68%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 26.60%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

OPPJ vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OPPJ WisdomTree Japan Opportunities ETF	26.23%	37.08%	20.70%	38.96%	6.33%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between OPPJ and JEPQ is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.40

Return for Risk

OPPJ vs. JEPQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OPPJ

OPPJ Risk / Return Rank: 93
OPPJ Sharpe Ratio Rank: 94
OPPJ Sortino Ratio Rank: 93
OPPJ Omega Ratio Rank: 91
OPPJ Calmar Ratio Rank: 94
OPPJ Martin Ratio Rank: 93

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

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. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	3.22	2.03	+1.19
Sortino ratio: Return per unit of downside risk	4.19	2.69	+1.49
Omega ratio: Gain probability vs. loss probability	1.53	1.40	+0.13
Calmar ratio: Return relative to maximum drawdown	6.58	2.91	+3.67
Martin ratio: Return relative to average drawdown	22.36	13.84	+8.52

OPPJ vs. JEPQ - Sharpe Ratio Comparison

The current OPPJ Sharpe Ratio is 3.22, which is higher than the JEPQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of OPPJ and JEPQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OPPJ vs. JEPQ - Drawdown Comparison

The maximum OPPJ drawdown since its inception was -39.30%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for OPPJ and JEPQ.

Drawdown Indicators

	OPPJ	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-20.07%	-19.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-8.82%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-20.07%	+3.58%
Max Drawdown (5Y) Largest decline over 5 years	-16.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	—	—
Current Drawdown Current decline from peak	-4.22%	-1.64%	-2.58%
Average Drawdown Average peak-to-trough decline	-6.49%	-3.41%	-3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	1.85%	+1.04%

Volatility

OPPJ vs. JEPQ - Volatility Comparison

WisdomTree Japan Opportunities ETF (OPPJ) has a higher volatility of 5.83% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 4.98%. This indicates that OPPJ's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPPJ	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	4.98%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	15.99%	10.22%	+5.77%
Volatility (1Y) Calculated over the trailing 1-year period	20.10%	12.61%	+7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.15%	16.73%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	16.73%	+3.00%

OPPJ vs. JEPQ - Expense Ratio Comparison

OPPJ has a 0.58% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

OPPJ vs. JEPQ - Dividend Comparison

OPPJ's dividend yield for the trailing twelve months is around 1.50%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both OPPJ and JEPQ in my portfolio?

OPPJ and JEPQ have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPPJ or JEPQ?

OPPJ has higher volatility (5.83%) compared to JEPQ (4.98%). In terms of maximum drawdown, OPPJ dropped -39.30% vs JEPQ's -20.07%.

Which ETF is better, OPPJ or JEPQ?

On 3-year performance, OPPJ leads with 33.91% vs 19.91% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPPJ or JEPQ?

Over the 3-year period, OPPJ has performed better with a 33.91% return vs 19.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPPJ or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.58% for OPPJ.

Which ETF pays a higher dividend yield, OPPJ or JEPQ?

JEPQ has the higher dividend yield at 10.22%, compared with 1.50% for OPPJ.

What is the main difference between OPPJ and JEPQ?

OPPJ is categorized as Japan Equities, while JEPQ is Nasdaq-100. OPPJ tracks WisdomTree Japan Opportunities Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: WisdomTree and JPMorgan. Their fees differ too: 0.58% for OPPJ and 0.35% for JEPQ.

Which has better risk-adjusted returns?

OPPJ currently has the higher Sharpe Ratio (3.22 vs 2.03), 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.