OPPE vs. PXF

Last updated Jun 3, 2026

OPPE (WisdomTree European Opportunities Fund) and PXF (Invesco FTSE RAFI Developed Markets ex-U.S. ETF) are both exchange-traded funds - OPPE is a Europe Equities fund tracking the WisdomTree European Opportunities Index, while PXF is a Foreign Large Cap Equities fund tracking the FTSE RAFI Developed Markets ex-U.S. Index. Both are passively managed. Over the past 10 years, OPPE returned 12.46%/yr vs 11.88%/yr for PXF. Their correlation of 0.81 suggests significant overlap in exposure. OPPE charges 0.58%/yr vs 0.45%/yr for PXF.

Performance

OPPE vs. PXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree European Opportunities Fund (OPPE) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPPE achieves a 13.64% return, which is significantly lower than PXF's 21.27% return. Both investments have delivered pretty close results over the past 10 years, with OPPE having a 12.46% annualized return and PXF not far behind at 11.88%.

OPPE

• 1D: 0.47%
• 1M: 2.52%
• YTD: 13.64%
• 6M: 16.98%
• 1Y: 28.83%
• 3Y*: 23.56%
• 5Y*: 14.40%
• 10Y*: 12.46%

PXF

• 1D: 0.62%
• 1M: 6.53%
• YTD: 21.27%
• 6M: 25.96%
• 1Y: 44.09%
• 3Y*: 25.42%
• 5Y*: 13.78%
• 10Y*: 11.88%

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

OPPE vs. PXF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OPPE WisdomTree European Opportunities Fund	13.64%	38.80%	10.42%	19.80%	-11.14%	23.52%	-2.92%	28.60%	-13.34%	22.25%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	21.27%	42.51%	4.54%	18.46%	-9.09%	15.93%	2.58%	17.50%	-14.84%	24.52%

Correlation

The correlation between OPPE and PXF is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Mar 5, 2015	0.81

The correlation between OPPE and PXF has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

OPPE vs. PXF - Sectors Allocation Comparison

Sectors	OPPE	PXF
Industrials	27.8%	15.1%
Financial Services	23.3%	19.7%
Basic Materials	10.6%	10.1%
Energy	9.1%	10.6%
Technology	7.2%	11.4%
Utilities	6.6%	3.6%
Healthcare	4.8%	7.2%
Consumer Defensive	4.6%	6.1%
Consumer Cyclical	3.1%	10.2%
Communication Services	1.6%	4.3%
Real Estate	1.4%	1.8%

Return for Risk

OPPE vs. PXF — 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: 60
OPPE Omega Ratio Rank: 60
OPPE Calmar Ratio Rank: 67
OPPE Martin Ratio Rank: 69

PXF

PXF Risk / Return Rank: 83
PXF Sharpe Ratio Rank: 87
PXF Sortino Ratio Rank: 84
PXF Omega Ratio Rank: 85
PXF Calmar Ratio Rank: 80
PXF Martin Ratio Rank: 80

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. PXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree European Opportunities Fund (OPPE) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). 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	PXF	Difference
Sharpe ratio Return per unit of total volatility	2.09	2.91	-0.82
Sortino ratio Return per unit of downside risk	2.87	3.82	-0.95
Omega ratio Gain probability vs. loss probability	1.37	1.52	-0.15
Calmar ratio Return relative to maximum drawdown	3.39	4.18	-0.79
Martin ratio Return relative to average drawdown	12.97	16.08	-3.11
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. PXF - Sharpe Ratio Comparison

The current OPPE Sharpe Ratio is 2.09, which is comparable to the PXF Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of OPPE and PXF, 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	PXF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	2.91	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.84	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.66	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.24	+0.41

Drawdowns

OPPE vs. PXF - Drawdown Comparison

The maximum OPPE drawdown since its inception was -39.28%, smaller than the maximum PXF drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for OPPE and PXF.

Drawdown Indicators

	OPPE	PXF	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-64.74%	+25.46%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-10.91%	+2.08%
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	-14.06%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-26.82%	+2.33%
Max Drawdown (10Y) Largest decline over 10 years	-39.28%	-41.59%	+2.31%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.47%	-15.28%	+9.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.84%	-0.53%

Volatility

OPPE vs. PXF - Volatility Comparison

WisdomTree European Opportunities Fund (OPPE) has a higher volatility of 5.78% compared to Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) at 5.41%. This indicates that OPPE's price experiences larger fluctuations and is considered to be riskier than PXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPPE	PXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	5.41%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.65%	12.84%	-1.19%
Volatility (1Y) Calculated over the trailing 1-year period	13.87%	15.24%	-1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	16.45%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	18.04%	-0.86%

OPPE vs. PXF - Expense Ratio Comparison

OPPE has a 0.58% expense ratio, which is higher than PXF's 0.45% expense ratio.

Dividends

OPPE vs. PXF - Dividend Comparison

OPPE's dividend yield for the trailing twelve months is around 2.70%, less than PXF's 3.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OPPE WisdomTree European Opportunities Fund	2.70%	2.95%	3.99%	3.53%	5.13%	2.39%	3.42%	3.08%	2.34%	1.46%	2.60%	4.39%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	3.05%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%

Frequently Asked Questions

Can I hold both OPPE and PXF in my portfolio?

OPPE and PXF have a correlation of 0.85, 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 PXF?

OPPE has higher volatility (5.78%) compared to PXF (5.41%). In terms of maximum drawdown, OPPE dropped -39.28% vs PXF's -64.74%.

Which ETF is better, OPPE or PXF?

On 10-year performance, OPPE leads with 12.46% vs 11.88% for PXF. On fees, PXF is cheaper at 0.45% per year. On volatility, PXF has been the lower-risk option at 5.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPPE or PXF?

Over the 10-year period, OPPE has performed better with a 12.46% return vs 11.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPPE or PXF?

PXF is cheaper with a 0.45% expense ratio, compared with 0.58% for OPPE.

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

PXF has the higher dividend yield at 3.05%, compared with 2.70% for OPPE.

What is the main difference between OPPE and PXF?

OPPE is categorized as Europe Equities, while PXF is Foreign Large Cap Equities. OPPE tracks WisdomTree European Opportunities Index, while PXF tracks FTSE RAFI Developed Markets ex-U.S. Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.58% for OPPE and 0.45% for PXF.

Which has better risk-adjusted returns?

PXF currently has the higher Sharpe Ratio (2.91 vs 2.09), 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.