OPPJ vs. TLTD
OPPJ (WisdomTree Japan Opportunities ETF) and TLTD (FlexShares Morningstar Developed Markets ex-US Factor Tilt) are both exchange-traded funds - OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index, while TLTD is a Global Equities fund tracking the Morningstar Developed Markets ex-US Factor Tilt Index. Both are passively managed. Over the past 10 years, OPPJ returned 17.17%/yr vs 9.84%/yr for TLTD. Their 0.63 correlation means they have sometimes moved together and sometimes differently. OPPJ charges 0.58%/yr vs 0.39%/yr for TLTD.
Performance
OPPJ vs. TLTD - Performance Comparison
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Returns By Period
In the year-to-date period, OPPJ achieves a 21.36% return, which is significantly higher than TLTD's 11.20% return. Over the past 10 years, OPPJ has outperformed TLTD with an annualized return of 17.17%, while TLTD has yielded a comparatively lower 9.84% annualized return.
OPPJ
- 1D
- -0.35%
- 1M
- -2.28%
- 6M
- 11.10%
- YTD
- 21.36%
- 1Y
- 52.64%
- 3Y*
- 31.02%
- 5Y*
- 24.18%
- 10Y*
- 17.17%
- ALL TIME*
- 15.01%
TLTD
- 1D
- 0.36%
- 1M
- 2.49%
- 6M
- 5.50%
- YTD
- 11.20%
- 1Y
- 27.13%
- 3Y*
- 19.91%
- 5Y*
- 10.43%
- 10Y*
- 9.84%
- ALL TIME*
- 8.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.37M | $2.34M | $4.35M | |
| $470.57K | $675.01K | $784.22K |
OPPJ vs. TLTD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OPPJ WisdomTree Japan Opportunities ETF | 21.36% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt | 11.20% | 39.69% | 4.78% | 17.19% | -13.74% | 12.84% | 4.21% | 21.26% | -17.57% | 26.27% |
Correlation
The correlation between OPPJ and TLTD is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013 | 0.63 |
The correlation between OPPJ and TLTD has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
OPPJ vs. TLTD — Risk / Return Rank
OPPJ
TLTD
OPPJ vs. TLTD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD). 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 | TLTD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.33 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.38 | 2.25 | +3.13 |
| Martin ratioReturn relative to average drawdown | 15.15 | 8.35 | +6.80 |
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Drawdowns
OPPJ vs. TLTD - Drawdown Comparison
The maximum OPPJ drawdown since its inception was -39.30%, roughly equal to the maximum TLTD drawdown of -40.62%. Use the drawdown chart below to compare losses from any high point for OPPJ and TLTD.
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Drawdown Indicators
| OPPJ | TLTD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -40.62% | +1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -12.11% | +2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -13.10% | -3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -28.96% | +12.47% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -40.62% | +1.32% |
Current DrawdownCurrent decline from peak | -7.91% | -0.23% | -7.68% |
Average DrawdownAverage peak-to-trough decline | -6.48% | -7.62% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.26% | +0.22% |
Volatility
OPPJ vs. TLTD - Volatility Comparison
WisdomTree Japan Opportunities ETF (OPPJ) has a higher volatility of 7.79% compared to FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) at 4.05%. This indicates that OPPJ's price experiences larger fluctuations and is considered to be riskier than TLTD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPPJ | TLTD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 4.05% | +3.74% |
Volatility (6M)Calculated over the trailing 6-month period | 17.52% | 12.64% | +4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.19% | 14.91% | +6.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.40% | 16.01% | +2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 16.54% | +3.07% |
OPPJ vs. TLTD - Expense Ratio Comparison
OPPJ has a 0.58% expense ratio, which is higher than TLTD's 0.39% expense ratio.
Dividends
OPPJ vs. TLTD - Dividend Comparison
OPPJ's dividend yield for the trailing twelve months is around 1.15%, less than TLTD's 3.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPPJ WisdomTree Japan Opportunities ETF | 1.15% | 1.78% | 4.02% | 2.71% | 2.63% | 2.96% | 3.04% | 2.17% | 2.06% | 1.53% | 1.66% | 3.61% |
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt | 3.29% | 3.44% | 3.88% | 3.39% | 2.76% | 3.44% | 2.04% | 3.46% | 3.16% | 2.71% | 2.93% | 2.56% |
Frequently Asked Questions
OPPJ and TLTD have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPPJ has higher volatility (7.79%) compared to TLTD (4.05%). In terms of maximum drawdown, OPPJ dropped -39.30% vs TLTD's -40.62%.
On 10-year performance, OPPJ leads with 17.17% vs 9.84% for TLTD. On fees, TLTD is cheaper at 0.39% per year. On volatility, TLTD has been the lower-risk option at 4.05%. 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 17.17% return vs 9.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLTD is cheaper with a 0.39% expense ratio, compared with 0.58% for OPPJ.
TLTD has the higher dividend yield at 3.29%, compared with 1.15% for OPPJ.
OPPJ is categorized as Japan Equities, while TLTD is Global Equities. OPPJ tracks WisdomTree Japan Opportunities Index, while TLTD tracks Morningstar Developed Markets ex-US Factor Tilt Index. They also come from different issuers: WisdomTree and Northern Trust. Their fees differ too: 0.58% for OPPJ and 0.39% for TLTD.
OPPJ currently has the higher Sharpe Ratio (2.50 vs 1.83), 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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