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OPPE vs. IEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OPPE vs. IEV

Last updated Aug 2, 2026
Documentation

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 13.25%/yr vs 9.81%/yr for IEV. Their correlation of 0.82 means they have usually moved in the same direction. OPPE charges 0.58%/yr vs 0.60%/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.

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Returns By Period

In the year-to-date period, OPPE achieves a 18.15% return, which is significantly higher than IEV's 10.21% return. Over the past 10 years, OPPE has outperformed IEV with an annualized return of 13.25%, while IEV has yielded a comparatively lower 9.81% 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%

IEV

1D
-0.44%
1M
0.94%
6M
5.40%
YTD
10.21%
1Y
24.55%
3Y*
16.27%
5Y*
9.68%
10Y*
9.81%
ALL TIME*
5.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

IEV

iShares Europe ETF
$9.58M$7.30M$8.64M

OPPE

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

OPPE vs. IEV - 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%
IEV
iShares Europe ETF		10.21%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, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.89

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

0.86

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

0.86

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

0.83

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

27.3%
18.1%

Financial Services

25.5%
25.5%

Basic Materials

9.6%
5.5%

Technology

8.7%
9.2%

Consumer Cyclical

6.3%
6.5%

Utilities

6.0%
4.7%

Energy

6.0%
5.1%

Healthcare

4.3%
12.8%

Consumer Defensive

3.4%
8.2%

Real Estate

1.6%
0.6%

Communication Services

1.3%
3.2%

Industrials

OPPE
27.3%
IEV
18.1%

Financial Services

OPPE
25.5%
IEV
25.5%

Basic Materials

OPPE
9.6%
IEV
5.5%

Technology

OPPE
8.7%
IEV
9.2%

Consumer Cyclical

OPPE
6.3%
IEV
6.5%

Utilities

OPPE
6.0%
IEV
4.7%

Energy

OPPE
6.0%
IEV
5.1%

Healthcare

OPPE
4.3%
IEV
12.8%

Consumer Defensive

OPPE
3.4%
IEV
8.2%

Real Estate

OPPE
1.6%
IEV
0.6%

Communication Services

OPPE
1.3%
IEV
3.2%

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 Europe ETF

Often compared with OPPE:
OPPE vs. WLDROPPE vs. HEGDOPPE vs. EWJVOPPE vs. GRIDOPPE vs. SPMOOPPE vs. AVDVOPPE vs. PXF
Often compared with IEV:
IEV vs. VGKIEV vs. IEURIEV vs. SPYIEV vs. FEZIEV vs. EZUIEV vs. VOOIEV vs. SPEU

Return for Risk

OPPE vs. IEV — 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
IEV
IEV Risk / Return Rank: 6262
Overall Rank
IEV Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IEV Sortino Ratio Rank: 6666
Sortino Ratio Rank
IEV Omega Ratio Rank: 6262
Omega Ratio Rank
IEV Calmar Ratio Rank: 5555
Calmar Ratio Rank
IEV Martin Ratio Rank: 6161
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. 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.

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.

OPPEIEVDifference
Sharpe ratioReturn per unit of total volatility
2.13
1.50

+0.63

Sortino ratioReturn per unit of downside risk
2.94
2.18

+0.76

Omega ratioGain probability vs. loss probability

1.38

1.26

+0.11

Calmar ratioReturn relative to maximum drawdown

3.45

1.95

+1.50

Martin ratioReturn relative to average drawdown

13.34

7.28

+6.06

OPPE vs. IEV - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 2.13, which is higher than the IEV Sharpe Ratio of 1.50. 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.

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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.

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Drawdown Indicators

OPPEIEVDifference

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

-0.08%

-0.44%

+0.36%

Average Drawdown

Average peak-to-trough decline

-5.41%

-14.96%

+9.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.28%

3.29%

-1.01%

Volatility

OPPE vs. IEV - Volatility Comparison

The current volatility for WisdomTree European Opportunities Fund (OPPE) is 3.82%, while iShares Europe ETF (IEV) has a volatility of 4.37%. This indicates that OPPE experiences smaller price fluctuations and is considered to be less risky than IEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OPPEIEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

4.37%

-0.55%

Volatility (6M)

Calculated over the trailing 6-month period

12.59%

13.80%

-1.21%

Volatility (1Y)

Calculated over the trailing 1-year period

14.34%

16.02%

-1.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.66%

17.65%

-1.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.91%

18.21%

-1.30%

OPPE vs. IEV - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is lower than IEV's 0.60% expense ratio.

Dividends

OPPE vs. IEV - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.57%, less than IEV's 2.74% yield.

PositionTTM20252024202320222021202020192018201720162015
IEV
iShares Europe ETF		2.74%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		2.57%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 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.

IEV has higher volatility (4.37%) compared to OPPE (3.82%). In terms of maximum drawdown, OPPE dropped -39.28% vs IEV's -63.27%.

On 10-year performance, OPPE leads with 13.25% vs 9.81% for IEV. On fees, OPPE is cheaper at 0.58% 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 9.81%. 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 0.60% for IEV.

IEV has the higher dividend yield at 2.74%, compared with 2.57% for OPPE.

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 0.60% for IEV.

OPPE currently has the higher Sharpe Ratio (2.13 vs 1.50), 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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