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OPPE vs. EWD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OPPE vs. EWD

Last updated Aug 2, 2026
Documentation

OPPE (WisdomTree European Opportunities Fund) and EWD (iShares MSCI Sweden ETF) are both Europe Equities funds - OPPE tracks the WisdomTree European Opportunities Index while EWD tracks the MSCI Sweden Index. Both are passively managed. Over the past 10 years, OPPE returned 13.25%/yr vs 10.04%/yr for EWD. Their 0.76 correlation means they have sometimes moved together and sometimes differently. OPPE charges 0.58%/yr vs 0.55%/yr for EWD.

Performance

OPPE vs. EWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree European Opportunities Fund (OPPE) and iShares MSCI Sweden ETF (EWD). 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 18.15% return, which is significantly higher than EWD's 8.85% return. Over the past 10 years, OPPE has outperformed EWD with an annualized return of 13.25%, while EWD has yielded a comparatively lower 10.04% annualized return.

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%

EWD

1D
-0.27%
1M
3.70%
6M
2.52%
YTD
8.85%
1Y
24.21%
3Y*
17.77%
5Y*
4.93%
10Y*
10.04%
ALL TIME*
8.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EWD

iShares MSCI Sweden ETF
$9.54M$19.57M$11.38M

OPPE

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

OPPE vs. EWD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
EWD
iShares MSCI Sweden ETF		8.85%36.55%-3.90%25.07%-27.84%22.84%22.27%21.74%-12.78%21.86%

Correlation

The correlation between OPPE and EWD is 0.78, 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.

0.78

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

0.76

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

0.78

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

0.76

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

0.76

The correlation between OPPE and EWD has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

OPPE vs. EWD - Sectors Allocation Comparison

Sectors
OPPE
EWD

Industrials

27.3%
46.3%

Financial Services

25.5%
24.6%

Basic Materials

9.6%
2.9%

Technology

8.7%
6.8%

Consumer Cyclical

6.3%
2.3%

Utilities

6.0%

-

Energy

6.0%

-

Healthcare

4.3%
1.2%

Consumer Defensive

3.4%
2.3%

Real Estate

1.6%
1.0%

Communication Services

1.3%
12.6%

Industrials

OPPE
27.3%
EWD
46.3%

Financial Services

OPPE
25.5%
EWD
24.6%

Basic Materials

OPPE
9.6%
EWD
2.9%

Technology

OPPE
8.7%
EWD
6.8%

Consumer Cyclical

OPPE
6.3%
EWD
2.3%

Utilities

OPPE
6.0%
EWD

-

Energy

OPPE
6.0%
EWD

-

Healthcare

OPPE
4.3%
EWD
1.2%

Consumer Defensive

OPPE
3.4%
EWD
2.3%

Real Estate

OPPE
1.6%
EWD
1.0%

Communication Services

OPPE
1.3%
EWD
12.6%

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

iShares MSCI Sweden ETF

Often compared with OPPE:
OPPE vs. WLDROPPE vs. HEGDOPPE vs. EWJVOPPE vs. GRIDOPPE vs. SPMOOPPE vs. AVDVOPPE vs. PXF
Often compared with EWD:
EWD vs. EWGEWD vs. NORWEWD vs. EWCEWD vs. EWNEWD vs. VOOEWD vs. OMXS.LEWD vs. EWQ

Return for Risk

OPPE vs. EWD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
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
EWD
EWD Risk / Return Rank: 4646
Overall Rank
EWD Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
EWD Sortino Ratio Rank: 4848
Sortino Ratio Rank
EWD Omega Ratio Rank: 4545
Omega Ratio Rank
EWD Calmar Ratio Rank: 4646
Calmar Ratio Rank
EWD Martin Ratio Rank: 4545
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.

OPPE vs. EWD - Risk-Adjusted Trends Comparison

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

OPPEEWDDifference
Sharpe ratioReturn per unit of total volatility
2.13
1.19

+0.94

Sortino ratioReturn per unit of downside risk
2.94
1.72

+1.22

Omega ratioGain probability vs. loss probability

1.38

1.21

+0.17

Calmar ratioReturn relative to maximum drawdown

3.45

1.64

+1.80

Martin ratioReturn relative to average drawdown

13.34

4.97

+8.38

OPPE vs. EWD - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 2.13, which is higher than the EWD Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of OPPE and EWD, 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

OPPE vs. EWD - Drawdown Comparison

The maximum OPPE drawdown since its inception was -39.28%, smaller than the maximum EWD drawdown of -75.40%. Use the drawdown chart below to compare losses from any high point for OPPE and EWD.

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Drawdown Indicators

OPPEEWDDifference

Max Drawdown

Largest peak-to-trough decline

-39.28%

-75.40%

+36.12%

Max Drawdown (1Y)

Largest decline over 1 year

-8.83%

-14.49%

+5.66%

Max Drawdown (3Y)

Largest decline over 3 years

-15.04%

-17.84%

+2.80%

Max Drawdown (5Y)

Largest decline over 5 years

-24.49%

-42.33%

+17.84%

Max Drawdown (10Y)

Largest decline over 10 years

-39.28%

-42.33%

+3.05%

Current Drawdown

Current decline from peak

-0.08%

-2.07%

+1.99%

Average Drawdown

Average peak-to-trough decline

-5.41%

-19.15%

+13.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.28%

4.78%

-2.50%

Volatility

OPPE vs. EWD - Volatility Comparison

The current volatility for WisdomTree European Opportunities Fund (OPPE) is 3.82%, while iShares MSCI Sweden ETF (EWD) has a volatility of 5.01%. This indicates that OPPE experiences smaller price fluctuations and is considered to be less risky than EWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OPPEEWDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

5.01%

-1.19%

Volatility (6M)

Calculated over the trailing 6-month period

12.59%

17.24%

-4.65%

Volatility (1Y)

Calculated over the trailing 1-year period

14.34%

20.14%

-5.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.66%

24.01%

-8.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.91%

23.18%

-6.27%

OPPE vs. EWD - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is higher than EWD's 0.55% expense ratio.

Dividends

OPPE vs. EWD - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.57%, less than EWD's 3.43% yield.

PositionTTM20252024202320222021202020192018201720162015
EWD
iShares MSCI Sweden ETF		3.43%3.27%1.77%2.41%3.68%5.46%0.98%4.15%5.17%3.23%3.91%4.08%
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

OPPE and EWD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWD has higher volatility (5.01%) compared to OPPE (3.82%). In terms of maximum drawdown, OPPE dropped -39.28% vs EWD's -75.40%.

On 10-year performance, OPPE leads with 13.25% vs 10.04% for EWD. On fees, EWD is cheaper at 0.55% 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, OPPE has performed better with a 13.25% return vs 10.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWD is cheaper with a 0.55% expense ratio, compared with 0.58% for OPPE.

EWD has the higher dividend yield at 3.43%, compared with 2.57% for OPPE.

OPPE tracks WisdomTree European Opportunities Index, while EWD tracks MSCI Sweden Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for OPPE and 0.55% for EWD.

OPPE currently has the higher Sharpe Ratio (2.13 vs 1.19), 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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