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EWN vs. OPPE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWN vs. OPPE

Last updated Aug 2, 2026
Documentation

EWN (iShares MSCI Netherlands ETF) and OPPE (WisdomTree European Opportunities Fund) are both Europe Equities funds - EWN tracks the MSCI Netherlands Investable Market Index while OPPE tracks the WisdomTree European Opportunities Index. Both are passively managed. Over the past 10 years, EWN returned 13.34%/yr vs 13.25%/yr for OPPE. Their 0.77 correlation means they have sometimes moved together and sometimes differently. EWN charges 0.50%/yr vs 0.58%/yr for OPPE.

Performance

EWN vs. OPPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Netherlands ETF (EWN) and WisdomTree European Opportunities Fund (OPPE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with EWN having a 18.31% return and OPPE slightly lower at 18.15%. Both investments have delivered pretty close results over the past 10 years, with EWN having a 13.34% annualized return and OPPE not far behind at 13.25%.

EWN

1D
-0.93%
1M
-1.10%
6M
8.36%
YTD
18.31%
1Y
37.76%
3Y*
17.97%
5Y*
8.59%
10Y*
13.34%
ALL TIME*
7.52%

OPPE

1D
-0.08%
1M
4.58%
6M
12.37%
YTD
18.15%
1Y
31.15%
3Y*
24.13%
5Y*
14.71%
10Y*
13.25%
ALL TIME*
11.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EWN

iShares MSCI Netherlands ETF
$20.58M$19.47M$16.07M

OPPE

WisdomTree European Opportunities Fund
$1.61M$1.14M$1.30M

EWN vs. OPPE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWN
iShares MSCI Netherlands ETF		18.31%34.87%1.67%22.08%-24.43%22.74%23.23%32.45%-15.37%33.73%
OPPE
WisdomTree European Opportunities Fund		18.15%38.80%10.42%19.80%-11.14%23.52%-2.92%28.60%-13.34%22.25%

Correlation

The correlation between EWN and OPPE is 0.71, 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.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.75

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.78

Correlation (10Y)
Provides a long-term view across more market conditions.

0.77

Correlation (All Time)
Calculated using the full available price history since Mar 4, 2015

0.77

The correlation between EWN and OPPE has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

EWN vs. OPPE - Sectors Allocation Comparison

Sectors
EWN
OPPE

Technology

37.8%
8.7%

Financial Services

17.3%
25.5%

Industrials

10.4%
27.3%

Consumer Defensive

9.9%
3.4%

Communication Services

9.8%
1.3%

Consumer Cyclical

5.4%
6.3%

Basic Materials

4.7%
9.6%

Healthcare

2.5%
4.3%

Energy

1.8%
6.0%

Real Estate

0.7%
1.6%

Utilities

-

6.0%

Technology

EWN
37.8%
OPPE
8.7%

Financial Services

EWN
17.3%
OPPE
25.5%

Industrials

EWN
10.4%
OPPE
27.3%

Consumer Defensive

EWN
9.9%
OPPE
3.4%

Communication Services

EWN
9.8%
OPPE
1.3%

Consumer Cyclical

EWN
5.4%
OPPE
6.3%

Basic Materials

EWN
4.7%
OPPE
9.6%

Healthcare

EWN
2.5%
OPPE
4.3%

Energy

EWN
1.8%
OPPE
6.0%

Real Estate

EWN
0.7%
OPPE
1.6%

Utilities

EWN

-

OPPE
6.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Netherlands ETF

WisdomTree European Opportunities Fund

Often compared with EWN:
EWN vs. EDENEWN vs. FEZEWN vs. EWQEWN vs. EWCEWN vs. EWDEWN vs. VOOEWN vs. ICLN
Often compared with OPPE:
OPPE vs. WLDROPPE vs. HEGDOPPE vs. EWJVOPPE vs. SPMOOPPE vs. GRIDOPPE vs. AVDVOPPE vs. PXF

Return for Risk

EWN vs. OPPE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EWN
EWN Risk / Return Rank: 7474
Overall Rank
EWN Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EWN Sortino Ratio Rank: 7373
Sortino Ratio Rank
EWN Omega Ratio Rank: 6666
Omega Ratio Rank
EWN Calmar Ratio Rank: 7878
Calmar Ratio Rank
EWN Martin Ratio Rank: 7979
Martin Ratio Rank
OPPE
OPPE Risk / Return Rank: 8787
Overall Rank
OPPE Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
OPPE Sortino Ratio Rank: 8787
Sortino Ratio Rank
OPPE Omega Ratio Rank: 8686
Omega Ratio Rank
OPPE Calmar Ratio Rank: 8787
Calmar Ratio Rank
OPPE Martin Ratio Rank: 8888
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EWN vs. OPPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Netherlands ETF (EWN) and WisdomTree European Opportunities Fund (OPPE). 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.

EWNOPPEDifference
Sharpe ratioReturn per unit of total volatility
1.65
2.13

-0.47

Sortino ratioReturn per unit of downside risk
2.36
2.94

-0.58

Omega ratioGain probability vs. loss probability

1.28

1.38

-0.10

Calmar ratioReturn relative to maximum drawdown

2.78

3.45

-0.66

Martin ratioReturn relative to average drawdown

10.09

13.34

-3.26

EWN vs. OPPE - Sharpe Ratio Comparison

The current EWN Sharpe Ratio is 1.65, which is comparable to the OPPE Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of EWN and OPPE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EWN vs. OPPE - Drawdown Comparison

The maximum EWN drawdown since its inception was -65.22%, which is greater than OPPE's maximum drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for EWN and OPPE.

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Drawdown Indicators

EWNOPPEDifference

Max Drawdown

Largest peak-to-trough decline

-65.22%

-39.28%

-25.94%

Max Drawdown (1Y)

Largest decline over 1 year

-13.24%

-8.83%

-4.41%

Max Drawdown (3Y)

Largest decline over 3 years

-19.77%

-15.04%

-4.73%

Max Drawdown (5Y)

Largest decline over 5 years

-43.57%

-24.49%

-19.08%

Max Drawdown (10Y)

Largest decline over 10 years

-43.57%

-39.28%

-4.29%

Current Drawdown

Current decline from peak

-5.67%

-0.08%

-5.59%

Average Drawdown

Average peak-to-trough decline

-16.28%

-5.41%

-10.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.64%

2.28%

+1.36%

Volatility

EWN vs. OPPE - Volatility Comparison

iShares MSCI Netherlands ETF (EWN) has a higher volatility of 7.40% compared to WisdomTree European Opportunities Fund (OPPE) at 3.82%. This indicates that EWN's price experiences larger fluctuations and is considered to be riskier than OPPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWNOPPEDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.40%

3.82%

+3.58%

Volatility (6M)

Calculated over the trailing 6-month period

19.19%

12.59%

+6.60%

Volatility (1Y)

Calculated over the trailing 1-year period

22.36%

14.34%

+8.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.35%

15.66%

+7.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.31%

16.91%

+4.40%

EWN vs. OPPE - Expense Ratio Comparison

EWN has a 0.50% expense ratio, which is lower than OPPE's 0.58% expense ratio.

Dividends

EWN vs. OPPE - Dividend Comparison

EWN's dividend yield for the trailing twelve months is around 4.25%, more than OPPE's 2.57% yield.

PositionTTM20252024202320222021202020192018201720162015
EWN
iShares MSCI Netherlands ETF		4.25%5.03%2.18%1.79%1.98%1.01%0.78%2.57%2.40%1.68%2.71%1.92%
OPPE
WisdomTree European Opportunities Fund		2.57%2.95%3.99%3.53%5.13%2.39%3.42%3.08%2.34%1.46%2.60%4.39%

Frequently Asked Questions

EWN and OPPE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWN has higher volatility (7.40%) compared to OPPE (3.82%). In terms of maximum drawdown, EWN dropped -65.22% vs OPPE's -39.28%.

On 10-year performance, EWN leads with 13.34% vs 13.25% for OPPE. On fees, EWN is cheaper at 0.50% per year. On volatility, OPPE has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWN has performed better with a 13.34% return vs 13.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWN is cheaper with a 0.50% expense ratio, compared with 0.58% for OPPE.

EWN has the higher dividend yield at 4.25%, compared with 2.57% for OPPE.

EWN tracks MSCI Netherlands Investable Market Index, while OPPE tracks WisdomTree European Opportunities Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for EWN and 0.58% for OPPE.

OPPE currently has the higher Sharpe Ratio (2.13 vs 1.65), 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.

Portfolio Optimizer

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