DES vs. ASCE

Last updated Jun 3, 2026

DES (WisdomTree U.S. SmallCap Dividend Fund) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. DES is passively managed, while ASCE is actively managed. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.38% expense ratio.

Performance

DES vs. ASCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. SmallCap Dividend Fund (DES) and Allspring SMID Core ETF (ASCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DES achieves a 16.63% return, which is significantly lower than ASCE's 22.72% return.

DES

• 1D: 0.99%
• 1M: 0.53%
• YTD: 16.63%
• 6M: 17.07%
• 1Y: 28.87%
• 3Y*: 14.65%
• 5Y*: 6.21%
• 10Y*: 8.17%

ASCE

• 1D: 0.45%
• 1M: 5.53%
• YTD: 22.72%
• 6M: 23.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DES vs. ASCE - Yearly Performance Comparison

	2026 (YTD)	2025
DES WisdomTree U.S. SmallCap Dividend Fund	16.63%	3.44%
ASCE Allspring SMID Core ETF	22.72%	8.61%

Correlation

The correlation between DES and ASCE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.77

Return for Risk

DES vs. ASCE — Risk / Return Rank

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

DES

DES Risk / Return Rank: 57
DES Sharpe Ratio Rank: 51
DES Sortino Ratio Rank: 54
DES Omega Ratio Rank: 49
DES Calmar Ratio Rank: 72
DES Martin Ratio Rank: 59

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.

DES vs. ASCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. SmallCap Dividend Fund (DES) and Allspring SMID Core ETF (ASCE). 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.

	DES	ASCE	Difference
Sharpe ratio Return per unit of total volatility	1.77	—	—
Sortino ratio Return per unit of downside risk	2.64	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	3.67	—	—
Martin ratio Return relative to average drawdown	10.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DES	ASCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	1.95	-1.64

Drawdowns

DES vs. ASCE - Drawdown Comparison

The maximum DES drawdown since its inception was -65.48%, which is greater than ASCE's maximum drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for DES and ASCE.

Drawdown Indicators

	DES	ASCE	Difference
Max Drawdown Largest peak-to-trough decline	-65.48%	-9.22%	-56.26%
Max Drawdown (1Y) Largest decline over 1 year	-7.64%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.65%	—	—
Current Drawdown Current decline from peak	-0.28%	0.00%	-0.28%
Average Drawdown Average peak-to-trough decline	-9.68%	-2.10%	-7.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	—	—

Volatility

Volatility by Period

	DES	ASCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.42%	19.29%	-2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.56%	19.29%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.97%	19.29%	+2.68%

DES vs. ASCE - Expense Ratio Comparison

Both DES and ASCE have an expense ratio of 0.38%.

Dividends

DES vs. ASCE - Dividend Comparison

DES's dividend yield for the trailing twelve months is around 2.37%, more than ASCE's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASCE Allspring SMID Core ETF	0.18%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DES WisdomTree U.S. SmallCap Dividend Fund	2.37%	2.85%	2.81%	2.65%	2.89%	2.31%	2.75%	2.68%	3.65%	2.89%	2.70%	3.09%

Frequently Asked Questions

Can I hold both DES and ASCE in my portfolio?

DES and ASCE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DES or ASCE?

Both ETFs have the same 0.38% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DES or ASCE?

DES and ASCE have the same expense ratio: 0.38% per year.

Which ETF pays a higher dividend yield, DES or ASCE?

DES has the higher dividend yield at 2.37%, compared with 0.18% for ASCE.

What is the main difference between DES and ASCE?

They also come from different issuers: WisdomTree and Allspring.