XAR vs. OPPJ
XAR (SPDR S&P Aerospace & Defense ETF) and OPPJ (WisdomTree Japan Opportunities ETF) are both exchange-traded funds - XAR is a Aerospace & Defense fund tracking the S&P Aerospace & Defense Select Industry Index, while OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index. Both are passively managed. Over the past 10 years, XAR returned 18.45%/yr vs 17.80%/yr for OPPJ. At a 0.46 correlation, their price movements are largely independent. XAR charges 0.35%/yr vs 0.58%/yr for OPPJ.
Performance
XAR vs. OPPJ - Performance Comparison
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Returns By Period
In the year-to-date period, XAR achieves a 16.10% return, which is significantly lower than OPPJ's 26.23% return. Both investments have delivered pretty close results over the past 10 years, with XAR having a 18.45% annualized return and OPPJ not far behind at 17.80%.
XAR
- 1D
- -1.55%
- 1M
- 3.18%
- YTD
- 16.10%
- 6M
- 18.39%
- 1Y
- 42.07%
- 3Y*
- 33.32%
- 5Y*
- 16.58%
- 10Y*
- 18.45%
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%
XAR vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XAR SPDR S&P Aerospace & Defense ETF | 16.10% | 46.15% | 23.32% | 23.79% | -5.02% | 2.31% | 6.18% | 39.33% | -4.58% | 33.00% |
OPPJ WisdomTree Japan Opportunities ETF | 26.23% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between XAR and OPPJ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013 | 0.46 |
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Return for Risk
XAR vs. OPPJ — Risk / Return Rank
XAR
OPPJ
XAR vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Aerospace & Defense ETF (XAR) 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.
| XAR | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.53 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 6.58 | -4.15 |
| Martin ratioReturn relative to average drawdown | 6.81 | 22.36 | -15.55 |
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Drawdowns
XAR vs. OPPJ - Drawdown Comparison
The maximum XAR drawdown since its inception was -46.37%, which is greater than OPPJ's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for XAR and OPPJ.
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Drawdown Indicators
| XAR | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.37% | -39.30% | -7.07% |
Max Drawdown (1Y)Largest decline over 1 year | -17.22% | -9.82% | -7.40% |
Max Drawdown (3Y)Largest decline over 3 years | -19.73% | -16.49% | -3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -32.40% | -16.49% | -15.91% |
Max Drawdown (10Y)Largest decline over 10 years | -46.37% | -39.30% | -7.07% |
Current DrawdownCurrent decline from peak | -4.32% | -4.22% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -6.49% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.13% | 2.89% | +3.24% |
Volatility
XAR vs. OPPJ - Volatility Comparison
SPDR S&P Aerospace & Defense ETF (XAR) has a higher volatility of 11.46% compared to WisdomTree Japan Opportunities ETF (OPPJ) at 5.83%. This indicates that XAR's price experiences larger fluctuations and is considered to be riskier 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
| XAR | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.46% | 5.83% | +5.63% |
Volatility (6M)Calculated over the trailing 6-month period | 23.56% | 15.99% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.85% | 20.10% | +7.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 18.15% | +5.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.74% | 19.73% | +5.01% |
XAR vs. OPPJ - Expense Ratio Comparison
XAR has a 0.35% expense ratio, which is lower than OPPJ's 0.58% expense ratio.
Dividends
XAR vs. OPPJ - Dividend Comparison
XAR's dividend yield for the trailing twelve months is around 0.31%, less than OPPJ's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XAR SPDR S&P Aerospace & Defense ETF | 0.31% | 0.40% | 0.66% | 0.54% | 0.50% | 0.83% | 0.63% | 0.75% | 1.19% | 0.76% | 1.09% | 2.31% |
Frequently Asked Questions
XAR and OPPJ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XAR has higher volatility (11.46%) compared to OPPJ (5.83%). In terms of maximum drawdown, XAR dropped -46.37% vs OPPJ's -39.30%.
On 10-year performance, XAR leads with 18.45% vs 17.80% for OPPJ. On fees, XAR is cheaper at 0.35% per year. On volatility, OPPJ has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XAR has performed better with a 18.45% return vs 17.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XAR is cheaper with a 0.35% expense ratio, compared with 0.58% for OPPJ.
OPPJ has the higher dividend yield at 1.50%, compared with 0.31% for XAR.
XAR is categorized as Aerospace & Defense, while OPPJ is Japan Equities. XAR tracks S&P Aerospace & Defense Select Industry Index, while OPPJ tracks WisdomTree Japan Opportunities Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.35% for XAR and 0.58% for OPPJ.
OPPJ currently has the higher Sharpe Ratio (3.22 vs 1.50), 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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