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OPPE vs. EWU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OPPE vs. EWU

Last updated Jun 4, 2026

OPPE (WisdomTree European Opportunities Fund) and EWU (iShares MSCI United Kingdom ETF) are both Europe Equities funds - OPPE tracks the WisdomTree European Opportunities Index while EWU tracks the MSCI United Kingdom Index. Both are passively managed. Over the past 10 years, OPPE returned 12.39%/yr vs 7.75%/yr for EWU. A 0.74 correlation means they provide meaningful diversification when combined. OPPE charges 0.58%/yr vs 0.50%/yr for EWU.

Performance

OPPE vs. EWU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree European Opportunities Fund (OPPE) and iShares MSCI United Kingdom ETF (EWU). 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 12.95% return, which is significantly higher than EWU's 5.55% return. Over the past 10 years, OPPE has outperformed EWU with an annualized return of 12.39%, while EWU has yielded a comparatively lower 7.75% annualized return.

OPPE

1D
-0.60%
1M
3.71%
YTD
12.95%
6M
16.25%
1Y
28.81%
3Y*
23.31%
5Y*
14.10%
10Y*
12.39%

EWU

1D
-1.09%
1M
-0.00%
YTD
5.55%
6M
8.87%
1Y
20.53%
3Y*
17.10%
5Y*
10.64%
10Y*
7.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

OPPE vs. EWU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
OPPE
WisdomTree European Opportunities Fund		12.95%38.80%10.42%19.80%-11.14%23.52%-2.92%28.60%-13.34%22.25%
EWU
iShares MSCI United Kingdom ETF		5.55%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-14.30%21.54%

Correlation

The correlation between OPPE and EWU is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.82

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

0.76

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

0.76

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

0.75

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

0.74

The correlation between OPPE and EWU has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

OPPE vs. EWU - Sectors Allocation Comparison

Sectors
OPPE
EWU

Industrials

27.8%
12.1%

Financial Services

23.3%
26.0%

Basic Materials

10.6%
9.3%

Energy

9.1%
11.0%

Technology

7.2%
0.6%

Utilities

6.6%
5.1%

Healthcare

4.8%
13.9%

Consumer Defensive

4.6%
14.2%

Consumer Cyclical

3.1%
4.0%

Communication Services

1.6%
2.4%

Real Estate

1.4%
0.6%

Industrials

OPPE
27.8%
EWU
12.1%

Financial Services

OPPE
23.3%
EWU
26.0%

Basic Materials

OPPE
10.6%
EWU
9.3%

Energy

OPPE
9.1%
EWU
11.0%

Technology

OPPE
7.2%
EWU
0.6%

Utilities

OPPE
6.6%
EWU
5.1%

Healthcare

OPPE
4.8%
EWU
13.9%

Consumer Defensive

OPPE
4.6%
EWU
14.2%

Consumer Cyclical

OPPE
3.1%
EWU
4.0%

Communication Services

OPPE
1.6%
EWU
2.4%

Real Estate

OPPE
1.4%
EWU
0.6%

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 United Kingdom ETF

Often compared with OPPE:
OPPE vs. WLDROPPE vs. HEGDOPPE vs. EWJVOPPE vs. AVDVOPPE vs. SPMOOPPE vs. GRIDOPPE vs. XNTK
Often compared with EWU:
EWU vs. FLGBEWU vs. EWUSEWU vs. SPYEWU vs. FEZEWU vs. FKUEWU vs. BNDWEWU vs. VOO

Return for Risk

OPPE vs. EWU — 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: 6161
Sortino Ratio Rank
OPPE Omega Ratio Rank: 6060
Omega Ratio Rank
OPPE Calmar Ratio Rank: 6666
Calmar Ratio Rank
OPPE Martin Ratio Rank: 6868
Martin Ratio Rank
EWU
EWU Risk / Return Rank: 4141
Overall Rank
EWU Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 3939
Sortino Ratio Rank
EWU Omega Ratio Rank: 3939
Omega Ratio Rank
EWU Calmar Ratio Rank: 4242
Calmar Ratio Rank
EWU Martin Ratio Rank: 4646
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. EWU - Risk-Adjusted Trends Comparison

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

OPPEEWUDifference
Sharpe ratioReturn per unit of total volatility
2.09
1.44

+0.66

Sortino ratioReturn per unit of downside risk
2.87
2.05

+0.82

Omega ratioGain probability vs. loss probability

1.37

1.26

+0.12

Calmar ratioReturn relative to maximum drawdown

3.28

2.08

+1.20

Martin ratioReturn relative to average drawdown

12.49

7.54

+4.96

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. EWU - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 2.09, which is higher than the EWU Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of OPPE and EWU, 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

OPPEEWUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.09

1.44

+0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.91

0.65

+0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.72

0.41

+0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.26

+0.39

Drawdowns

OPPE vs. EWU - Drawdown Comparison

The maximum OPPE drawdown since its inception was -39.28%, smaller than the maximum EWU drawdown of -63.99%. Use the drawdown chart below to compare losses from any high point for OPPE and EWU.

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Drawdown Indicators

OPPEEWUDifference

Max Drawdown

Largest peak-to-trough decline

-39.28%

-63.99%

+24.71%

Max Drawdown (1Y)

Largest decline over 1 year

-8.83%

-9.92%

+1.09%

Max Drawdown (3Y)

Largest decline over 3 years

-15.04%

-12.63%

-2.41%

Max Drawdown (5Y)

Largest decline over 5 years

-24.49%

-24.91%

+0.42%

Max Drawdown (10Y)

Largest decline over 10 years

-39.28%

-43.33%

+4.05%

Current Drawdown

Current decline from peak

-0.60%

-4.64%

+4.04%

Average Drawdown

Average peak-to-trough decline

-5.47%

-14.16%

+8.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.31%

2.73%

-0.42%

Volatility

OPPE vs. EWU - Volatility Comparison

WisdomTree European Opportunities Fund (OPPE) and iShares MSCI United Kingdom ETF (EWU) have volatilities of 5.49% and 5.56%, 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

OPPEEWUDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.49%

5.56%

-0.07%

Volatility (6M)

Calculated over the trailing 6-month period

11.66%

12.30%

-0.64%

Volatility (1Y)

Calculated over the trailing 1-year period

13.86%

14.39%

-0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.55%

16.43%

-0.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.17%

18.84%

-1.67%

OPPE vs. EWU - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is higher than EWU's 0.50% expense ratio.

Dividends

OPPE vs. EWU - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.72%, less than EWU's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
EWU
iShares MSCI United Kingdom ETF		3.53%3.73%4.16%4.14%3.43%4.35%2.48%4.13%4.98%3.91%3.97%4.11%
OPPE
WisdomTree European Opportunities Fund		2.72%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 EWU have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWU has higher volatility (5.56%) compared to OPPE (5.49%). In terms of maximum drawdown, OPPE dropped -39.28% vs EWU's -63.99%.

On 10-year performance, OPPE leads with 12.39% vs 7.75% for EWU. On fees, EWU is cheaper at 0.50% 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 12.39% return vs 7.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

EWU has the higher dividend yield at 3.53%, compared with 2.72% for OPPE.

OPPE tracks WisdomTree European Opportunities Index, while EWU tracks MSCI United Kingdom Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for OPPE and 0.50% for EWU.

OPPE currently has the higher Sharpe Ratio (2.09 vs 1.44), 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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