OPPJ vs SPY
WisdomTree Japan Opportunities Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. OPPJ delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | OPPJ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.58% | 0.09% | |
| AUM | $286M | $821.1B | |
| Dividend Yield | 1.13% | 1.01% | |
| Holdings | 103 | 505 | |
| YTD Return | +22.46% | +12.93% | |
| 1Y Return | +46.28% | +20.62% | |
| 3Y Return (annualized) | +31.64% | +22.00% | |
| 5Y Return (annualized) | +24.91% | +13.33% | |
| Volatility (annualized) | 14.8% | 15.3% | |
| Max Drawdown | -41.7% | -56.5% | |
| Fund Family | WisdomTree Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 28, 2013 | Jan 22, 1993 |
OPPJ vs SPY Performance
WisdomTree Japan Opportunities Fund (OPPJ) is a ETF from WisdomTree Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OPPJ returned +46.28% while SPY returned +20.62%. Year to date, OPPJ is up 22.46% versus a gain of 12.93% for SPY.
Over three years, OPPJ compounded at +31.64% per year against +22.00% for SPY; over five years the annualized figures are +24.91% and +13.33% respectively. Across the full 13-year window we track, OPPJ has the edge at +13.09% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.8% for OPPJ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -41.7% for OPPJ and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.49. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OPPJ charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, OPPJ currently yields 1.13% against 1.01% for SPY.
Holdings Overlap
OPPJ and SPY share 0 holdings out of 592 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, OPPJ or SPY?
OPPJ has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $49 per year of difference.
Which performed better, OPPJ or SPY?
Over the past year OPPJ returned +46.28% vs +20.62% for SPY, so OPPJ leads on 1-year performance. Over the longest common window we track (13 years), OPPJ annualized +13.09% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, OPPJ or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.8% for OPPJ. Worst drawdown: OPPJ -41.7% vs SPY -56.5%.
Should I hold both OPPJ and SPY?
OPPJ and SPY have a monthly-return correlation of 0.49, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OPPJ and SPY?
OPPJ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 592 unique securities.
Which pays a higher dividend, OPPJ or SPY?
OPPJ yields 1.13% while SPY yields 1.01%, so OPPJ currently pays the higher dividend yield.
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