FLJP vs OPPJ

FLJPAFranklin FTSE Japan ETF

OPPJBWisdomTree Japan Opportunities Fund

In short

FLJP Japan's whole market for nine basis points. FLJP tracks the FTSE Japan RIC Capped Index across roughly 500 stocks at 0.09%, a fraction of what the typical Japan fund charges.

OPPJ Most Japan funds just hand you the index. OPPJ builds around the reform story: Berkshire's trading-house stakes, buyback-heavy payers, cheap governance improvers, and a yen hedge that resets between 0% and 100% every month.

Stated mandate

FLJP The fund seeks to track, before fees and expenses, the performance of the FTSE Japan RIC Capped Index.

OPPJ The Fund seeks to track the price and yield performance of the WisdomTree Japan Opportunities Index before fees and expenses. It uses passive indexing and generally representative sampling, investing at least 80% of assets in Index constituents or economically similar investments.

Why people hold it

• FLJP 0.09% a year, against a Japan-cohort median near 0.50%. Same country, same broad exposure, a fraction of the toll.
• Roughly 500 names via the FTSE Japan RIC Capped Index, whose capping rules trim outsized positions so no single stock runs away with the portfolio.
• Running since 2017 and now a multi-billion-dollar, actively traded fund, it tracks its index tightly and ranks among the strongest builds in its Japan peer group.
• Cheaper than the bigger brand-name Japan trackers it competes with, including EWJ at 0.49% and BBJP at 0.19%.

• OPPJ The Buffett tell, written into the rulebook: up to 45% of the index can sit in Japanese companies where Berkshire Hathaway owns more than 5% of the shares.sec.govwisdomtree.com
• The yen hedge is a dial, not a switch. Each month the index sets its hedge anywhere from 0% to 100% using signals like yen momentum and US versus Japan interest rate differentials.wisdomtree.comsec.gov
• Three more sleeves take 15-33% each: high shareholder yield (dividends plus buybacks), cheap governance improvers with growing earnings, and geopolitical or tech themes.sec.gov
• Active-sounding story, passive plumbing: a published rules-based index, at least 80% of assets in its constituents, and close tracking of the index it names. Pays quarterly.

Worth knowing

• FLJP The yen rides along. Currency moves hit returns here; Franklin's hedged twin, FLJH, strips that out for the same 0.09%.
• One country, one market cycle. Everything inside depends on Japan, so this is a slice of a portfolio rather than a diversified core.
• Distributions land annually or semiannually, not monthly, so cash flow arrives in lumps.

• OPPJ You pay for the design. The 0.58% fee runs above the typical Japan fund and well above plain trackers like FLJP at 0.09% and BBJP at 0.19%.
• Concentrated by construction: the Berkshire sleeve alone can reach 45% of the index and the fund is non-diversified, so a few trading houses can steer results.sec.gov
• New engine in an old chassis. This was the WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) until July 2025, so returns before that date reflect a different small-cap strategy.wisdomtree.comsec.gov

Full FLJP profile⁠

Full OPPJ profile⁠