VGK vs. OPPE

Last updated Jun 4, 2026

VGK (Vanguard FTSE Europe ETF) and OPPE (WisdomTree European Opportunities Fund) are both Europe Equities funds - VGK tracks the FTSE Developed Europe All Cap Index while OPPE tracks the WisdomTree European Opportunities Index. Both are passively managed. Over the past 10 years, VGK returned 9.26%/yr vs 12.39%/yr for OPPE. Their correlation of 0.83 suggests significant overlap in exposure. VGK charges 0.06%/yr vs 0.58%/yr for OPPE.

Performance

VGK vs. OPPE - Performance Comparison

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

Returns By Period

In the year-to-date period, VGK achieves a 5.62% return, which is significantly lower than OPPE's 12.95% return. Over the past 10 years, VGK has underperformed OPPE with an annualized return of 9.26%, while OPPE has yielded a comparatively higher 12.39% annualized return.

VGK

• 1D: -1.19%
• 1M: 2.79%
• YTD: 5.62%
• 6M: 8.66%
• 1Y: 18.01%
• 3Y*: 16.32%
• 5Y*: 8.24%
• 10Y*: 9.26%

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%

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

VGK vs. OPPE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGK Vanguard FTSE Europe ETF	5.62%	35.83%	1.88%	20.19%	-15.98%	16.89%	5.43%	24.85%	-14.89%	26.98%
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%

Correlation

The correlation between VGK and OPPE 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	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 5, 2015	0.83

The correlation between VGK and OPPE has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

VGK vs. OPPE - Sectors Allocation Comparison

Sectors	VGK	OPPE
Financial Services	23.9%	23.3%
Industrials	19.5%	27.8%
Healthcare	12.1%	4.8%
Consumer Defensive	8.5%	4.6%
Technology	8.3%	7.2%
Consumer Cyclical	6.8%	3.1%
Basic Materials	5.4%	10.6%
Energy	5.3%	9.1%
Utilities	4.8%	6.6%
Communication Services	3.3%	1.6%
Real Estate	1.5%	1.4%

Return for Risk

VGK vs. OPPE — Risk / Return Rank

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

VGK

VGK Risk / Return Rank: 31
VGK Sharpe Ratio Rank: 31
VGK Sortino Ratio Rank: 31
VGK Omega Ratio Rank: 30
VGK Calmar Ratio Rank: 30
VGK Martin Ratio Rank: 35

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

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.

VGK vs. OPPE - Risk-Adjusted Trends Comparison

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

	VGK	OPPE	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.09	-0.91
Sortino ratio: Return per unit of downside risk	1.72	2.87	-1.15
Omega ratio: Gain probability vs. loss probability	1.21	1.37	-0.16
Calmar ratio: Return relative to maximum drawdown	1.50	3.28	-1.78
Martin ratio: Return relative to average drawdown	5.56	12.49	-6.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGK vs. OPPE - Sharpe Ratio Comparison

The current VGK Sharpe Ratio is 1.18, which is lower than the OPPE Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of VGK and OPPE, 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

	VGK	OPPE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	2.09	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.91	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.72	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.65	-0.37

Drawdowns

VGK vs. OPPE - Drawdown Comparison

The maximum VGK drawdown since its inception was -63.61%, which is greater than OPPE's maximum drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for VGK and OPPE.

Drawdown Indicators

	VGK	OPPE	Difference
Max Drawdown Largest peak-to-trough decline	-63.61%	-39.28%	-24.33%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-8.83%	-3.26%
Max Drawdown (3Y) Largest decline over 3 years	-14.31%	-15.04%	+0.73%
Max Drawdown (5Y) Largest decline over 5 years	-32.74%	-24.49%	-8.25%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-39.28%	+2.04%
Current Drawdown Current decline from peak	-2.41%	-0.60%	-1.81%
Average Drawdown Average peak-to-trough decline	-13.34%	-5.47%	-7.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	2.31%	+0.94%

Volatility

VGK vs. OPPE - Volatility Comparison

Vanguard FTSE Europe ETF (VGK) and WisdomTree European Opportunities Fund (OPPE) have volatilities of 5.73% and 5.49%, 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

	VGK	OPPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	5.49%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	12.78%	11.66%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	13.86%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	15.55%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	17.17%	+1.79%

VGK vs. OPPE - Expense Ratio Comparison

VGK has a 0.06% expense ratio, which is lower than OPPE's 0.58% expense ratio.

Dividends

VGK vs. OPPE - Dividend Comparison

VGK's dividend yield for the trailing twelve months is around 2.82%, more than OPPE's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VGK Vanguard FTSE Europe ETF	2.82%	2.86%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%

Frequently Asked Questions

Can I hold both VGK and OPPE in my portfolio?

VGK and OPPE 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, VGK or OPPE?

VGK has higher volatility (5.73%) compared to OPPE (5.49%). In terms of maximum drawdown, VGK dropped -63.61% vs OPPE's -39.28%.

Which ETF is better, VGK or OPPE?

On 10-year performance, OPPE leads with 12.39% vs 9.26% for VGK. On fees, VGK is cheaper at 0.06% 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, VGK or OPPE?

Over the 10-year period, OPPE has performed better with a 12.39% return vs 9.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VGK or OPPE?

VGK is cheaper with a 0.06% expense ratio, compared with 0.58% for OPPE.

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

VGK has the higher dividend yield at 2.82%, compared with 2.72% for OPPE.

What is the main difference between VGK and OPPE?

VGK tracks FTSE Developed Europe All Cap Index, while OPPE tracks WisdomTree European Opportunities Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.06% for VGK and 0.58% for OPPE.

Which has better risk-adjusted returns?

OPPE currently has the higher Sharpe Ratio (2.09 vs 1.18), 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.