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DES vs. DHS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DES vs. DHS

Last updated Aug 4, 2026
Documentation

DES (WisdomTree U.S. SmallCap Dividend Fund) and DHS (WisdomTree US High Dividend Fund) are both exchange-traded funds - DES is a Small Cap Blend Equities fund tracking the WisdomTree SmallCap Dividend (TR), while DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index. Both are passively managed. Over the past 10 years, DES returned 8.19%/yr vs 9.67%/yr for DHS. Their correlation of 0.83 means they have usually moved in the same direction. Both charge a 0.38% expense ratio.

Performance

DES vs. DHS - Performance Comparison

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

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Returns By Period

In the year-to-date period, DES achieves a 24.40% return, which is significantly higher than DHS's 17.07% return. Over the past 10 years, DES has underperformed DHS with an annualized return of 8.19%, while DHS has yielded a comparatively higher 9.67% annualized return.

DES

1D
1.38%
1M
2.25%
6M
14.77%
YTD
24.40%
1Y
34.94%
3Y*
13.85%
5Y*
8.92%
10Y*
8.19%
ALL TIME*
7.95%

DHS

1D
0.35%
1M
1.94%
6M
9.42%
YTD
17.07%
1Y
25.65%
3Y*
17.11%
5Y*
12.40%
10Y*
9.67%
ALL TIME*
8.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

DES

WisdomTree U.S. SmallCap Dividend Fund
$3.72M$4.44M$5.66M

DHS

WisdomTree US High Dividend Fund
$5.47M$3.71M$2.99M

DES vs. DHS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DES
WisdomTree U.S. SmallCap Dividend Fund		24.40%0.25%9.93%16.50%-10.96%26.51%-4.26%20.26%-12.85%8.64%
DHS
WisdomTree US High Dividend Fund		17.07%12.87%18.02%-0.19%7.97%23.20%-5.70%22.59%-7.41%11.69%

Correlation

The correlation between DES and DHS is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

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

0.70

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

0.79

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

0.81

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

0.80

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2006

0.83

The correlation between DES and DHS shifts across timeframes, from 0.70 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

DES vs. DHS - Sectors Allocation Comparison

Sectors
DES
DHS

Financial Services

25.2%
23.2%

Consumer Cyclical

16.3%
5.4%

Industrials

13.6%
4.5%

Real Estate

9.9%
3.0%

Energy

9.5%
8.2%

Technology

6.2%
7.4%

Basic Materials

6.1%
1.1%

Utilities

4.1%
8.9%

Consumer Defensive

4.1%
14.2%

Communication Services

2.9%
8.2%

Healthcare

2.1%
15.9%

Financial Services

DES
25.2%
DHS
23.2%

Consumer Cyclical

DES
16.3%
DHS
5.4%

Industrials

DES
13.6%
DHS
4.5%

Real Estate

DES
9.9%
DHS
3.0%

Energy

DES
9.5%
DHS
8.2%

Technology

DES
6.2%
DHS
7.4%

Basic Materials

DES
6.1%
DHS
1.1%

Utilities

DES
4.1%
DHS
8.9%

Consumer Defensive

DES
4.1%
DHS
14.2%

Communication Services

DES
2.9%
DHS
8.2%

Healthcare

DES
2.1%
DHS
15.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree U.S. SmallCap Dividend Fund

WisdomTree US High Dividend Fund

Often compared with DES:
DES vs. FDVVDES vs. AVUVDES vs. EESDES vs. IWNDES vs. SCHDDES vs. VBRDES vs. VXUS
Often compared with DHS:
DHS vs. SCHDDHS vs. SPHDDHS vs. DGRODHS vs. FDVVDHS vs. JEPIDHS vs. DTDDHS vs. SPY

Return for Risk

DES vs. DHS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DES
DES Risk / Return Rank: 9090
Overall Rank
DES Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
DES Sortino Ratio Rank: 9191
Sortino Ratio Rank
DES Omega Ratio Rank: 8787
Omega Ratio Rank
DES Calmar Ratio Rank: 9393
Calmar Ratio Rank
DES Martin Ratio Rank: 8888
Martin Ratio Rank
DHS
DHS Risk / Return Rank: 9292
Overall Rank
DHS Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
DHS Sortino Ratio Rank: 9494
Sortino Ratio Rank
DHS Omega Ratio Rank: 9191
Omega Ratio Rank
DHS Calmar Ratio Rank: 9191
Calmar Ratio Rank
DHS Martin Ratio Rank: 9090
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.

DES vs. DHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. SmallCap Dividend Fund (DES) and WisdomTree US High Dividend Fund (DHS). 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.

DESDHSDifference
Sharpe ratioReturn per unit of total volatility
2.23
2.48

-0.25

Sortino ratioReturn per unit of downside risk
3.33
3.71

-0.39

Omega ratioGain probability vs. loss probability

1.40

1.43

-0.03

Calmar ratioReturn relative to maximum drawdown

4.59

4.09

+0.50

Martin ratioReturn relative to average drawdown

13.84

15.00

-1.16

DES vs. DHS - Sharpe Ratio Comparison

The current DES Sharpe Ratio is 2.23, which is comparable to the DHS Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of DES and DHS, 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

DES vs. DHS - Drawdown Comparison

The maximum DES drawdown since its inception was -65.48%, roughly equal to the maximum DHS drawdown of -67.25%. Use the drawdown chart below to compare losses from any high point for DES and DHS.

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Drawdown Indicators

DESDHSDifference

Max Drawdown

Largest peak-to-trough decline

-65.48%

-67.25%

+1.77%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-6.30%

-1.34%

Max Drawdown (3Y)

Largest decline over 3 years

-25.16%

-11.87%

-13.29%

Max Drawdown (5Y)

Largest decline over 5 years

-25.16%

-15.28%

-9.88%

Max Drawdown (10Y)

Largest decline over 10 years

-45.65%

-37.35%

-8.30%

Current Drawdown

Current decline from peak

-0.18%

-1.89%

+1.71%

Average Drawdown

Average peak-to-trough decline

-9.61%

-9.48%

-0.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

1.71%

+0.82%

Volatility

DES vs. DHS - Volatility Comparison

The current volatility for WisdomTree U.S. SmallCap Dividend Fund (DES) is 3.55%, while WisdomTree US High Dividend Fund (DHS) has a volatility of 3.77%. This indicates that DES experiences smaller price fluctuations and is considered to be less risky than DHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DESDHSDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.55%

3.77%

-0.22%

Volatility (6M)

Calculated over the trailing 6-month period

10.25%

7.84%

+2.41%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

10.40%

+5.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.39%

13.91%

+5.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.93%

16.10%

+5.83%

DES vs. DHS - Expense Ratio Comparison

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

Dividends

DES vs. DHS - Dividend Comparison

DES's dividend yield for the trailing twelve months is around 2.23%, less than DHS's 3.18% yield.

PositionTTM20252024202320222021202020192018201720162015
DES
WisdomTree U.S. SmallCap Dividend Fund		2.23%2.85%2.81%2.65%2.89%2.31%2.75%2.68%3.65%2.89%2.70%3.09%
DHS
WisdomTree US High Dividend Fund		3.18%3.32%3.66%4.31%3.42%3.29%4.14%3.69%3.76%3.00%3.25%3.53%

Frequently Asked Questions

DES and DHS have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DHS has higher volatility (3.77%) compared to DES (3.55%). In terms of maximum drawdown, DES dropped -65.48% vs DHS's -67.25%.

On 10-year performance, DHS leads with 9.67% vs 8.19% for DES. Both ETFs have the same 0.38% expense ratio. On volatility, DES has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DHS has performed better with a 9.67% return vs 8.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

DHS has the higher dividend yield at 3.18%, compared with 2.23% for DES.

DES is categorized as Small Cap Blend Equities, while DHS is Large Cap Value Equities. DES tracks WisdomTree SmallCap Dividend (TR), while DHS tracks WisdomTree U.S. High Dividend Index.

DHS currently has the higher Sharpe Ratio (2.48 vs 2.23), 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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