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EWUS vs. OPPE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWUS vs. OPPE

Last updated Jun 24, 2026

EWUS (iShares MSCI United Kingdom Small-Cap ETF) and OPPE (WisdomTree European Opportunities Fund) are both Europe Equities funds - EWUS tracks the MSCI United Kingdom Small Cap Index while OPPE tracks the WisdomTree European Opportunities Index. Both are passively managed. Over the past 10 years, EWUS returned 4.97%/yr vs 13.17%/yr for OPPE. A 0.69 correlation means they provide meaningful diversification when combined. EWUS charges 0.59%/yr vs 0.58%/yr for OPPE.

Performance

EWUS vs. OPPE - Performance Comparison

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

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Returns By Period

In the year-to-date period, EWUS achieves a -0.31% return, which is significantly lower than OPPE's 11.16% return. Over the past 10 years, EWUS has underperformed OPPE with an annualized return of 4.97%, while OPPE has yielded a comparatively higher 13.17% annualized return.

EWUS

1D
-1.53%
1M
-3.03%
YTD
-0.31%
6M
0.01%
1Y
5.85%
3Y*
12.78%
5Y*
0.40%
10Y*
4.97%

OPPE

1D
-0.52%
1M
-0.94%
YTD
11.16%
6M
11.70%
1Y
26.73%
3Y*
23.44%
5Y*
14.00%
10Y*
13.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWUS vs. OPPE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWUS
iShares MSCI United Kingdom Small-Cap ETF		-0.31%25.13%3.55%15.41%-31.19%12.55%-2.58%35.16%-20.16%32.17%
OPPE
WisdomTree European Opportunities Fund		11.16%38.80%10.42%19.80%-11.14%23.52%-2.92%28.60%-13.34%22.25%

Correlation

The correlation between EWUS and OPPE is 0.74, 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

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (10Y)
Calculated over the trailing 10-year period

0.71

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

0.69

The correlation between EWUS and OPPE has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

EWUS vs. OPPE - Sectors Allocation Comparison

Sectors
EWUS
OPPE

Financial Services

23.1%
23.3%

Industrials

20.4%
28.1%

Consumer Cyclical

18.0%
3.3%

Real Estate

8.4%
1.4%

Communication Services

6.8%
1.5%

Basic Materials

6.3%
11.0%

Consumer Defensive

3.9%
4.2%

Technology

3.9%
7.8%

Energy

3.3%
8.7%

Healthcare

3.1%
4.6%

Utilities

2.8%
6.0%

Financial Services

EWUS
23.1%
OPPE
23.3%

Industrials

EWUS
20.4%
OPPE
28.1%

Consumer Cyclical

EWUS
18.0%
OPPE
3.3%

Real Estate

EWUS
8.4%
OPPE
1.4%

Communication Services

EWUS
6.8%
OPPE
1.5%

Basic Materials

EWUS
6.3%
OPPE
11.0%

Consumer Defensive

EWUS
3.9%
OPPE
4.2%

Technology

EWUS
3.9%
OPPE
7.8%

Energy

EWUS
3.3%
OPPE
8.7%

Healthcare

EWUS
3.1%
OPPE
4.6%

Utilities

EWUS
2.8%
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 United Kingdom Small-Cap ETF

WisdomTree European Opportunities Fund

Often compared with EWUS:
EWUS vs. EWUEWUS vs. HSCZEWUS vs. SCJEWUS vs. EWZSEWUS vs. SCZEWUS vs. SMINEWUS vs. QQQ
Often compared with OPPE:
OPPE vs. WLDROPPE vs. HEGDOPPE vs. GRIDOPPE vs. EWJVOPPE vs. SPMOOPPE vs. AVDVOPPE vs. VT

Return for Risk

EWUS vs. OPPE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWUS
EWUS Risk / Return Rank: 1313
Overall Rank
EWUS Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
EWUS Sortino Ratio Rank: 1313
Sortino Ratio Rank
EWUS Omega Ratio Rank: 1212
Omega Ratio Rank
EWUS Calmar Ratio Rank: 1313
Calmar Ratio Rank
EWUS Martin Ratio Rank: 1414
Martin Ratio Rank
OPPE
OPPE Risk / Return Rank: 6262
Overall Rank
OPPE Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
OPPE Sortino Ratio Rank: 5959
Sortino Ratio Rank
OPPE Omega Ratio Rank: 5858
Omega Ratio Rank
OPPE Calmar Ratio Rank: 6565
Calmar Ratio Rank
OPPE Martin Ratio Rank: 6666
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EWUS vs. OPPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI United Kingdom Small-Cap ETF (EWUS) 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.

EWUSOPPEDifference
Sharpe ratioReturn per unit of total volatility
0.33
1.86

-1.54

Sortino ratioReturn per unit of downside risk
0.61
2.60

-1.99

Omega ratioGain probability vs. loss probability

1.07

1.33

-0.26

Calmar ratioReturn relative to maximum drawdown

0.39

3.04

-2.65

Martin ratioReturn relative to average drawdown

1.22

11.44

-10.22

EWUS vs. OPPE - Sharpe Ratio Comparison

The current EWUS Sharpe Ratio is 0.33, which is lower than the OPPE Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of EWUS 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

EWUS vs. OPPE - Drawdown Comparison

The maximum EWUS drawdown since its inception was -49.33%, which is greater than OPPE's maximum drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for EWUS and OPPE.

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Drawdown Indicators

EWUSOPPEDifference

Max Drawdown

Largest peak-to-trough decline

-49.33%

-39.28%

-10.05%

Max Drawdown (1Y)

Largest decline over 1 year

-15.21%

-8.83%

-6.38%

Max Drawdown (3Y)

Largest decline over 3 years

-19.84%

-15.04%

-4.80%

Max Drawdown (5Y)

Largest decline over 5 years

-48.14%

-24.49%

-23.65%

Max Drawdown (10Y)

Largest decline over 10 years

-49.33%

-39.28%

-10.05%

Current Drawdown

Current decline from peak

-7.35%

-2.21%

-5.14%

Average Drawdown

Average peak-to-trough decline

-13.05%

-5.45%

-7.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.82%

2.34%

+2.48%

Volatility

EWUS vs. OPPE - Volatility Comparison

iShares MSCI United Kingdom Small-Cap ETF (EWUS) and WisdomTree European Opportunities Fund (OPPE) have volatilities of 4.96% and 4.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWUSOPPEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.96%

4.89%

+0.07%

Volatility (6M)

Calculated over the trailing 6-month period

14.97%

12.39%

+2.58%

Volatility (1Y)

Calculated over the trailing 1-year period

18.14%

14.41%

+3.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.17%

15.66%

+5.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.92%

16.98%

+4.94%

EWUS vs. OPPE - Expense Ratio Comparison

EWUS has a 0.59% expense ratio, which is higher than OPPE's 0.58% expense ratio.

Dividends

EWUS vs. OPPE - Dividend Comparison

EWUS's dividend yield for the trailing twelve months is around 3.30%, more than OPPE's 2.76% yield.

PositionTTM20252024202320222021202020192018201720162015
EWUS
iShares MSCI United Kingdom Small-Cap ETF		3.30%3.59%3.67%2.88%2.03%3.54%1.97%2.59%3.53%2.61%3.18%2.85%
OPPE
WisdomTree European Opportunities Fund		2.76%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

EWUS and OPPE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWUS has higher volatility (4.96%) compared to OPPE (4.89%). In terms of maximum drawdown, EWUS dropped -49.33% vs OPPE's -39.28%.

On 10-year performance, OPPE leads with 13.17% vs 4.97% for EWUS. On fees, OPPE is cheaper at 0.58% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, OPPE has performed better with a 13.17% return vs 4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

OPPE is cheaper with a 0.58% expense ratio, compared with 0.59% for EWUS.

EWUS has the higher dividend yield at 3.30%, compared with 2.76% for OPPE.

EWUS tracks MSCI United Kingdom Small Cap Index, while OPPE tracks WisdomTree European Opportunities Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.59% for EWUS and 0.58% for OPPE.

OPPE currently has the higher Sharpe Ratio (1.86 vs 0.33), 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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