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OPPE vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OPPE vs. DBE

Last updated Jun 3, 2026

OPPE (WisdomTree European Opportunities Fund) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - OPPE is a Europe Equities fund tracking the WisdomTree European Opportunities Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, OPPE returned 12.46%/yr vs 11.78%/yr for DBE. At a 0.20 correlation, their price movements are largely independent. OPPE charges 0.58%/yr vs 0.78%/yr for DBE.

Performance

OPPE vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree European Opportunities Fund (OPPE) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, OPPE achieves a 13.64% return, which is significantly lower than DBE's 79.50% return. Over the past 10 years, OPPE has outperformed DBE with an annualized return of 12.46%, while DBE has yielded a comparatively lower 11.78% annualized return.

OPPE

1D
0.47%
1M
2.52%
YTD
13.64%
6M
16.98%
1Y
28.83%
3Y*
23.56%
5Y*
14.40%
10Y*
12.46%

DBE

1D
0.80%
1M
-3.65%
YTD
79.50%
6M
72.59%
1Y
82.31%
3Y*
22.48%
5Y*
19.20%
10Y*
11.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

OPPE vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
OPPE
WisdomTree European Opportunities Fund		13.64%38.80%10.42%19.80%-11.14%23.52%-2.92%28.60%-13.34%22.25%
DBE
Invesco DB Energy Fund		79.50%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between OPPE and DBE is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.29

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

-0.08

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

0.06

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

0.18

Correlation (All Time)
Calculated using the full available price history since Mar 5, 2015

0.20

The correlation between OPPE and DBE shifts across timeframes, from -0.29 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

WisdomTree European Opportunities Fund

Invesco DB Energy Fund

Often compared with OPPE:
OPPE vs. WLDROPPE vs. GRIDOPPE vs. HEGDOPPE vs. EWJVOPPE vs. AVDVOPPE vs. SPMOOPPE vs. XNTK
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

OPPE vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
OPPE
OPPE Risk / Return Rank: 6464
Overall Rank
OPPE Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
OPPE Sortino Ratio Rank: 6060
Sortino Ratio Rank
OPPE Omega Ratio Rank: 6060
Omega Ratio Rank
OPPE Calmar Ratio Rank: 6767
Calmar Ratio Rank
OPPE Martin Ratio Rank: 6969
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6161
Sortino Ratio Rank
DBE Omega Ratio Rank: 6464
Omega Ratio Rank
DBE Calmar Ratio Rank: 9292
Calmar Ratio Rank
DBE Martin Ratio Rank: 6565
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.

OPPE vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree European Opportunities Fund (OPPE) and Invesco DB Energy Fund (DBE). 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.

OPPEDBEDifference

Sharpe ratio

Return per unit of total volatility

2.09

2.37

-0.28

Sortino ratio

Return per unit of downside risk

2.87

2.91

-0.03

Omega ratio

Gain probability vs. loss probability

1.37

1.39

-0.02

Calmar ratio

Return relative to maximum drawdown

3.39

6.10

-2.71

Martin ratio

Return relative to average drawdown

12.97

11.98

+0.99

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OPPE vs. DBE - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 2.09, which is comparable to the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of OPPE and DBE, 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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Sharpe Ratios by Period

OPPEDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.09

2.37

-0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.93

0.66

+0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

0.42

+0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.09

+0.56

Drawdowns

OPPE vs. DBE - Drawdown Comparison

The maximum OPPE drawdown since its inception was -39.28%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for OPPE and DBE.

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Drawdown Indicators

OPPEDBEDifference

Max Drawdown

Largest peak-to-trough decline

-39.28%

-86.69%

+47.41%

Max Drawdown (1Y)

Largest decline over 1 year

-8.83%

-14.41%

+5.58%

Max Drawdown (3Y)

Largest decline over 3 years

-15.04%

-23.89%

+8.85%

Max Drawdown (5Y)

Largest decline over 5 years

-24.49%

-38.74%

+14.25%

Max Drawdown (10Y)

Largest decline over 10 years

-39.28%

-60.84%

+21.56%

Current Drawdown

Current decline from peak

0.00%

-31.85%

+31.85%

Average Drawdown

Average peak-to-trough decline

-5.47%

-57.31%

+51.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.31%

7.34%

-5.03%

Volatility

OPPE vs. DBE - Volatility Comparison

The current volatility for WisdomTree European Opportunities Fund (OPPE) is 5.78%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that OPPE experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OPPEDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.78%

13.47%

-7.69%

Volatility (6M)

Calculated over the trailing 6-month period

11.65%

30.80%

-19.15%

Volatility (1Y)

Calculated over the trailing 1-year period

13.87%

35.02%

-21.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.55%

29.37%

-13.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.18%

28.33%

-11.15%

OPPE vs. DBE - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

OPPE vs. DBE - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.70%, more than DBE's 2.15% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.15%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
OPPE
WisdomTree European Opportunities Fund		2.70%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

OPPE and DBE have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (13.47%) compared to OPPE (5.78%). In terms of maximum drawdown, OPPE dropped -39.28% vs DBE's -86.69%.

On 10-year performance, OPPE leads with 12.46% vs 11.78% for DBE. On fees, OPPE is cheaper at 0.58% per year. On volatility, OPPE has been the lower-risk option at 5.78%. 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 12.46% return vs 11.78%. 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 0.78% for DBE.

OPPE has the higher dividend yield at 2.70%, compared with 2.15% for DBE.

OPPE is categorized as Europe Equities, while DBE is Oil & Gas. OPPE tracks WisdomTree European Opportunities Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.58% for OPPE and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.37 vs 2.09), 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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