OPPE vs. IEV

Last updated Jun 4, 2026

OPPE (WisdomTree European Opportunities Fund) and IEV (iShares Europe ETF) are both Europe Equities funds - OPPE tracks the WisdomTree European Opportunities Index while IEV tracks the S&P Europe 350 Index. Both are passively managed. Over the past 10 years, OPPE returned 12.39%/yr vs 9.06%/yr for IEV. Their correlation of 0.82 suggests significant overlap in exposure. OPPE charges 0.58%/yr vs 0.59%/yr for IEV.

Performance

OPPE vs. IEV - Performance Comparison

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

Returns By Period

In the year-to-date period, OPPE achieves a 12.95% return, which is significantly higher than IEV's 5.38% return. Over the past 10 years, OPPE has outperformed IEV with an annualized return of 12.39%, while IEV has yielded a comparatively lower 9.06% 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%

IEV

• 1D: -1.26%
• 1M: 2.73%
• YTD: 5.38%
• 6M: 8.19%
• 1Y: 17.71%
• 3Y*: 15.90%
• 5Y*: 8.55%
• 10Y*: 9.06%

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

OPPE vs. IEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
IEV iShares Europe ETF	5.38%	35.63%	1.36%	20.14%	-14.24%	16.73%	4.07%	24.03%	-14.68%	24.84%

Correlation

The correlation between OPPE and IEV is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Mar 5, 2015	0.82

The correlation between OPPE and IEV has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

OPPE vs. IEV - Sectors Allocation Comparison

Sectors	OPPE	IEV
Industrials	27.8%	19.3%
Financial Services	23.3%	23.9%
Basic Materials	10.6%	5.7%
Energy	9.1%	5.6%
Technology	7.2%	8.7%
Utilities	6.6%	5.0%
Healthcare	4.8%	13.1%
Consumer Defensive	4.6%	8.3%
Consumer Cyclical	3.1%	6.7%
Communication Services	1.6%	2.9%
Real Estate	1.4%	0.8%

Return for Risk

OPPE vs. IEV — Risk / Return Rank

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

OPPE

OPPE Risk / Return Rank: 64
OPPE Sharpe Ratio Rank: 62
OPPE Sortino Ratio Rank: 61
OPPE Omega Ratio Rank: 60
OPPE Calmar Ratio Rank: 66
OPPE Martin Ratio Rank: 68

IEV

IEV Risk / Return Rank: 31
IEV Sharpe Ratio Rank: 31
IEV Sortino Ratio Rank: 31
IEV Omega Ratio Rank: 29
IEV Calmar Ratio Rank: 29
IEV Martin Ratio Rank: 34

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. IEV - Risk-Adjusted Trends Comparison

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

	OPPE	IEV	Difference
Sharpe ratio Return per unit of total volatility	2.09	1.14	+0.95
Sortino ratio Return per unit of downside risk	2.87	1.67	+1.19
Omega ratio Gain probability vs. loss probability	1.37	1.20	+0.17
Calmar ratio Return relative to maximum drawdown	3.28	1.45	+1.83
Martin ratio Return relative to average drawdown	12.49	5.29	+7.21
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. IEV - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 2.09, which is higher than the IEV Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of OPPE and IEV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OPPE	IEV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.14	+0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.49	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.49	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.23	+0.42

Drawdowns

OPPE vs. IEV - Drawdown Comparison

The maximum OPPE drawdown since its inception was -39.28%, smaller than the maximum IEV drawdown of -63.27%. Use the drawdown chart below to compare losses from any high point for OPPE and IEV.

Drawdown Indicators

	OPPE	IEV	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-63.27%	+23.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-12.31%	+3.48%
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	-14.63%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-30.60%	+6.11%
Max Drawdown (10Y) Largest decline over 10 years	-39.28%	-36.62%	-2.66%
Current Drawdown Current decline from peak	-0.60%	-2.77%	+2.17%
Average Drawdown Average peak-to-trough decline	-5.47%	-15.04%	+9.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	3.36%	-1.05%

Volatility

OPPE vs. IEV - Volatility Comparison

WisdomTree European Opportunities Fund (OPPE) and iShares Europe ETF (IEV) have volatilities of 5.49% and 5.61%, 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.

Volatility by Period

	OPPE	IEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	5.61%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	12.95%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.86%	15.62%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	17.57%	-2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.17%	18.66%	-1.49%

OPPE vs. IEV - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is lower than IEV's 0.59% expense ratio.

Dividends

OPPE vs. IEV - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.72%, more than IEV's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEV iShares Europe ETF	2.59%	2.73%	3.10%	2.77%	3.06%	2.81%	1.76%	3.06%	3.43%	2.39%	3.08%	2.81%
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

Can I hold both OPPE and IEV in my portfolio?

OPPE and IEV have a correlation of 0.89, 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 IEV?

IEV has higher volatility (5.61%) compared to OPPE (5.49%). In terms of maximum drawdown, OPPE dropped -39.28% vs IEV's -63.27%.

Which ETF is better, OPPE or IEV?

On 10-year performance, OPPE leads with 12.39% vs 9.06% for IEV. On fees, OPPE is cheaper at 0.58% per year. On volatility, OPPE has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPPE or IEV?

Over the 10-year period, OPPE has performed better with a 12.39% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPPE or IEV?

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

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

OPPE has the higher dividend yield at 2.72%, compared with 2.59% for IEV.

What is the main difference between OPPE and IEV?

OPPE tracks WisdomTree European Opportunities Index, while IEV tracks S&P Europe 350 Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for OPPE and 0.59% for IEV.

Which has better risk-adjusted returns?

OPPE currently has the higher Sharpe Ratio (2.09 vs 1.14), 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.