OPPE vs. EWJV

Last updated Jun 24, 2026

OPPE (WisdomTree European Opportunities Fund) and EWJV (iShares MSCI Japan Value ETF) are both exchange-traded funds - OPPE is a Europe Equities fund tracking the WisdomTree European Opportunities Index, while EWJV is a Japan Equities fund tracking the MSCI Japan Value Index. Both are passively managed. Over the past 5 years, OPPE returned 14.00%/yr vs 13.50%/yr for EWJV. A 0.54 correlation means they provide meaningful diversification when combined. OPPE charges 0.58%/yr vs 0.15%/yr for EWJV.

Performance

OPPE vs. EWJV - Performance Comparison

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

Returns By Period

In the year-to-date period, OPPE achieves a 11.16% return, which is significantly lower than EWJV's 12.37% return.

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%

EWJV

• 1D: -3.02%
• 1M: -1.22%
• YTD: 12.37%
• 6M: 11.97%
• 1Y: 37.31%
• 3Y*: 22.92%
• 5Y*: 13.50%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

OPPE vs. EWJV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
OPPE WisdomTree European Opportunities Fund	11.16%	38.80%	10.42%	19.80%	-11.14%	23.52%	-2.92%	12.88%
EWJV iShares MSCI Japan Value ETF	12.37%	33.96%	11.59%	23.60%	-6.02%	5.48%	2.41%	9.40%

Correlation

The correlation between OPPE and EWJV is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019	0.54

The correlation between OPPE and EWJV has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

OPPE vs. EWJV - Sectors Allocation Comparison

Sectors	OPPE	EWJV
Industrials	28.1%	22.7%
Financial Services	23.3%	30.1%
Basic Materials	11.0%	3.3%
Energy	8.7%	1.8%
Technology	7.8%	7.7%
Utilities	6.0%	1.5%
Healthcare	4.6%	2.8%
Consumer Defensive	4.2%	3.9%
Consumer Cyclical	3.3%	14.0%
Communication Services	1.5%	9.1%
Real Estate	1.4%	3.2%

Return for Risk

OPPE vs. EWJV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OPPE

OPPE Risk / Return Rank: 62
OPPE Sharpe Ratio Rank: 60
OPPE Sortino Ratio Rank: 59
OPPE Omega Ratio Rank: 58
OPPE Calmar Ratio Rank: 65
OPPE Martin Ratio Rank: 66

EWJV

EWJV Risk / Return Rank: 56
EWJV Sharpe Ratio Rank: 59
EWJV Sortino Ratio Rank: 59
EWJV Omega Ratio Rank: 60
EWJV Calmar Ratio Rank: 54
EWJV Martin Ratio Rank: 47

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. EWJV - Risk-Adjusted Trends Comparison

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

	OPPE	EWJV	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.90	-0.04
Sortino ratio: Return per unit of downside risk	2.60	2.67	-0.08
Omega ratio: Gain probability vs. loss probability	1.33	1.35	-0.02
Calmar ratio: Return relative to maximum drawdown	3.04	2.54	+0.50
Martin ratio: Return relative to average drawdown	11.44	7.55	+3.89

OPPE vs. EWJV - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 1.86, which is comparable to the EWJV Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of OPPE and EWJV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OPPE vs. EWJV - Drawdown Comparison

The maximum OPPE drawdown since its inception was -39.28%, which is greater than EWJV's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for OPPE and EWJV.

Drawdown Indicators

	OPPE	EWJV	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-30.05%	-9.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-14.74%	+5.91%
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	-14.74%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-25.39%	+0.90%
Max Drawdown (10Y) Largest decline over 10 years	-39.28%	—	—
Current Drawdown Current decline from peak	-2.21%	-6.17%	+3.96%
Average Drawdown Average peak-to-trough decline	-5.45%	-6.18%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	4.96%	-2.62%

Volatility

OPPE vs. EWJV - Volatility Comparison

The current volatility for WisdomTree European Opportunities Fund (OPPE) is 4.89%, while iShares MSCI Japan Value ETF (EWJV) has a volatility of 5.81%. This indicates that OPPE experiences smaller price fluctuations and is considered to be less risky than EWJV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPPE	EWJV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	5.81%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	15.22%	-2.83%
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	19.70%	-5.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	18.07%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	18.57%	-1.59%

OPPE vs. EWJV - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is higher than EWJV's 0.15% expense ratio.

Dividends

OPPE vs. EWJV - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.76%, less than EWJV's 5.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWJV iShares MSCI Japan Value ETF	5.06%	5.35%	4.10%	3.32%	2.71%	2.46%	1.96%	4.29%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both OPPE and EWJV in my portfolio?

OPPE and EWJV have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPPE or EWJV?

EWJV has higher volatility (5.81%) compared to OPPE (4.89%). In terms of maximum drawdown, OPPE dropped -39.28% vs EWJV's -30.05%.

Which ETF is better, OPPE or EWJV?

On 5-year performance, OPPE leads with 14.00% vs 13.50% for EWJV. On fees, EWJV is cheaper at 0.15% per year. On volatility, OPPE has been the lower-risk option at 4.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPPE or EWJV?

Over the 5-year period, OPPE has performed better with a 14.00% return vs 13.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPPE or EWJV?

EWJV is cheaper with a 0.15% expense ratio, compared with 0.58% for OPPE.

Which ETF pays a higher dividend yield, OPPE or EWJV?

EWJV has the higher dividend yield at 5.06%, compared with 2.76% for OPPE.

What is the main difference between OPPE and EWJV?

OPPE is categorized as Europe Equities, while EWJV is Japan Equities. OPPE tracks WisdomTree European Opportunities Index, while EWJV tracks MSCI Japan Value Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for OPPE and 0.15% for EWJV.

Which has better risk-adjusted returns?

EWJV currently has the higher Sharpe Ratio (1.90 vs 1.86), 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.