TLTD vs. OPPJ
TLTD (FlexShares Morningstar Developed Markets ex-US Factor Tilt) and OPPJ (WisdomTree Japan Opportunities ETF) are both exchange-traded funds - TLTD is a Global Equities fund tracking the Morningstar Developed Markets ex-US Factor Tilt Index, while OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index. Both are passively managed. Over the past 10 years, TLTD returned 9.72%/yr vs 17.32%/yr for OPPJ. A 0.63 correlation means they provide meaningful diversification when combined. TLTD charges 0.39%/yr vs 0.58%/yr for OPPJ.
Performance
TLTD vs. OPPJ - Performance Comparison
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Returns By Period
In the year-to-date period, TLTD achieves a 8.79% return, which is significantly lower than OPPJ's 25.07% return. Over the past 10 years, TLTD has underperformed OPPJ with an annualized return of 9.72%, while OPPJ has yielded a comparatively higher 17.32% annualized return.
TLTD
- 1D
- 0.76%
- 1M
- -0.16%
- 6M
- 6.01%
- YTD
- 8.79%
- 1Y
- 23.34%
- 3Y*
- 18.46%
- 5Y*
- 10.20%
- 10Y*
- 9.72%
OPPJ
- 1D
- 1.19%
- 1M
- -0.92%
- 6M
- 15.71%
- YTD
- 25.07%
- 1Y
- 60.60%
- 3Y*
- 33.55%
- 5Y*
- 24.96%
- 10Y*
- 17.32%
TLTD vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt | 8.79% | 39.69% | 4.78% | 17.19% | -13.74% | 12.84% | 4.21% | 21.26% | -17.57% | 26.27% |
OPPJ WisdomTree Japan Opportunities ETF | 25.07% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between TLTD and OPPJ is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013 | 0.63 |
The correlation between TLTD and OPPJ has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
TLTD vs. OPPJ — Risk / Return Rank
TLTD
OPPJ
TLTD vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) and WisdomTree Japan Opportunities ETF (OPPJ). 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.
| TLTD | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.47 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 6.20 | -4.26 |
| Martin ratioReturn relative to average drawdown | 7.16 | 19.65 | -12.50 |
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Drawdowns
TLTD vs. OPPJ - Drawdown Comparison
The maximum TLTD drawdown since its inception was -40.62%, roughly equal to the maximum OPPJ drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for TLTD and OPPJ.
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Drawdown Indicators
| TLTD | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.62% | -39.30% | -1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -12.11% | -9.82% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -13.10% | -16.49% | +3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -28.96% | -16.49% | -12.47% |
Max Drawdown (10Y)Largest decline over 10 years | -40.62% | -39.30% | -1.32% |
Current DrawdownCurrent decline from peak | -2.05% | -5.09% | +3.04% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -6.48% | -1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 3.10% | +0.17% |
Volatility
TLTD vs. OPPJ - Volatility Comparison
The current volatility for FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) is 3.21%, while WisdomTree Japan Opportunities ETF (OPPJ) has a volatility of 7.59%. This indicates that TLTD experiences smaller price fluctuations and is considered to be less risky than OPPJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLTD | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 7.59% | -4.38% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 17.00% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.86% | 21.02% | -6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 18.32% | -2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.51% | 19.56% | -3.05% |
TLTD vs. OPPJ - Expense Ratio Comparison
TLTD has a 0.39% expense ratio, which is lower than OPPJ's 0.58% expense ratio.
Dividends
TLTD vs. OPPJ - Dividend Comparison
TLTD's dividend yield for the trailing twelve months is around 3.36%, more than OPPJ's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPPJ WisdomTree Japan Opportunities ETF | 1.12% | 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 | 3.36% | 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
TLTD and OPPJ 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 (7.59%) compared to TLTD (3.21%). In terms of maximum drawdown, TLTD dropped -40.62% vs OPPJ's -39.30%.
On 10-year performance, OPPJ leads with 17.32% vs 9.72% for TLTD. On fees, TLTD is cheaper at 0.39% per year. On volatility, TLTD has been the lower-risk option at 3.21%. 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 17.32% return vs 9.72%. 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 3.36%, compared with 1.12% for OPPJ.
TLTD is categorized as Global Equities, while OPPJ is Japan Equities. TLTD tracks Morningstar Developed Markets ex-US Factor Tilt Index, while OPPJ tracks WisdomTree Japan Opportunities Index. They also come from different issuers: Northern Trust and WisdomTree. Their fees differ too: 0.39% for TLTD and 0.58% for OPPJ.
OPPJ currently has the higher Sharpe Ratio (2.90 vs 1.58), 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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