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DES vs. FDM
Performance
Return for Risk
Dividends
Drawdowns
Volatility

DES vs. FDM

Last updated Apr 1, 2026

Compare and contrast key facts about WisdomTree U.S. SmallCap Dividend Fund (DES) and First Trust Dow Jones Select MicroCap Index Fund (FDM).

DES and FDM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DES is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree SmallCap Dividend (TR). It was launched on Jun 16, 2006. FDM is a passively managed fund by First Trust that tracks the performance of the Dow Jones Select Microcap Index. It was launched on Sep 27, 2005. Both DES and FDM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DES vs. FDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. SmallCap Dividend Fund (DES) and First Trust Dow Jones Select MicroCap Index Fund (FDM). The values are adjusted to include any dividend payments, if applicable.

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DES vs. FDM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DES
WisdomTree U.S. SmallCap Dividend Fund		7.74%0.25%9.93%16.50%-10.96%26.51%-4.26%20.26%-12.85%8.64%
FDM
First Trust Dow Jones Select MicroCap Index Fund		3.39%18.64%13.00%12.76%-11.61%35.08%-4.04%27.45%-13.53%8.72%

Returns By Period

In the year-to-date period, DES achieves a 7.74% return, which is significantly higher than FDM's 3.39% return. Over the past 10 years, DES has underperformed FDM with an annualized return of 7.69%, while FDM has yielded a comparatively higher 11.22% annualized return.

DES

1D
1.53%
1M
-2.75%
YTD
7.74%
6M
7.99%
1Y
15.59%
3Y*
11.06%
5Y*
5.64%
10Y*
7.69%

FDM

1D
1.32%
1M
-3.24%
YTD
3.39%
6M
9.17%
1Y
33.86%
3Y*
17.23%
5Y*
7.95%
10Y*
11.22%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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WisdomTree U.S. SmallCap Dividend Fund

First Trust Dow Jones Select MicroCap Index Fund

Often compared with DES:
DES vs. AVUVDES vs. EESDES vs. IWNDES vs. SCHDDES vs. VBRDES vs. VXUSDES vs. FDVV
Often compared with FDM:
FDM vs. IWCFDM vs. PVIVXFDM vs. DFSCXFDM vs. JMCRXFDM vs. VBFDM vs. SPYFDM vs. SCHD

DES vs. FDM - Expense Ratio Comparison

DES has a 0.38% expense ratio, which is lower than FDM's 0.60% expense ratio.

FDM
First Trust Dow Jones Select MicroCap Index Fund
DES
WisdomTree U.S. SmallCap Dividend Fund

Return for Risk

DES vs. FDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DES
DES Risk / Return Rank: 4545
Overall Rank
DES Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
DES Sortino Ratio Rank: 4646
Sortino Ratio Rank
DES Omega Ratio Rank: 4242
Omega Ratio Rank
DES Calmar Ratio Rank: 4949
Calmar Ratio Rank
DES Martin Ratio Rank: 4646
Martin Ratio Rank
FDM
FDM Risk / Return Rank: 8383
Overall Rank
FDM Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
FDM Sortino Ratio Rank: 8484
Sortino Ratio Rank
FDM Omega Ratio Rank: 7878
Omega Ratio Rank
FDM Calmar Ratio Rank: 8888
Calmar Ratio Rank
FDM Martin Ratio Rank: 8585
Martin Ratio Rank
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. FDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. SmallCap Dividend Fund (DES) and First Trust Dow Jones Select MicroCap Index Fund (FDM). 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.

DESFDMDifference

Sharpe ratio

Return per unit of total volatility

0.76

1.53

-0.76

Sortino ratio

Return per unit of downside risk

1.21

2.22

-1.01

Omega ratio

Gain probability vs. loss probability

1.16

1.29

-0.13

Calmar ratio

Return relative to maximum drawdown

1.17

2.78

-1.60

Martin ratio

Return relative to average drawdown

4.15

9.61

-5.46

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DES vs. FDM - Sharpe Ratio Comparison

The current DES Sharpe Ratio is 0.76, which is lower than the FDM Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of DES and FDM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

DESFDMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.76

1.53

-0.76

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.29

0.37

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

0.48

-0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.34

-0.04

Correlation

The correlation between DES and FDM is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DES vs. FDM - Dividend Comparison

DES's dividend yield for the trailing twelve months is around 2.54%, more than FDM's 1.33% yield.

TTM20252024202320222021202020192018201720162015
DES
WisdomTree U.S. SmallCap Dividend Fund		2.54%2.85%2.81%2.65%2.89%2.31%2.75%2.68%3.65%2.89%2.70%3.09%
FDM
First Trust Dow Jones Select MicroCap Index Fund		1.33%1.43%1.56%1.81%1.80%1.08%1.68%1.37%1.26%0.97%1.13%1.45%

Drawdowns

DES vs. FDM - Drawdown Comparison

The maximum DES drawdown since its inception was -65.48%, roughly equal to the maximum FDM drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for DES and FDM.

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Drawdown Indicators

DESFDMDifference

Max Drawdown

Largest peak-to-trough decline

-65.48%

-63.45%

-2.03%

Max Drawdown (1Y)

Largest decline over 1 year

-13.44%

-11.99%

-1.45%

Max Drawdown (5Y)

Largest decline over 5 years

-25.16%

-23.74%

-1.42%

Max Drawdown (10Y)

Largest decline over 10 years

-45.65%

-47.76%

+2.11%

Current Drawdown

Current decline from peak

-4.41%

-5.74%

+1.33%

Average Drawdown

Average peak-to-trough decline

-9.76%

-11.43%

+1.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.79%

3.46%

+0.33%

Volatility

DES vs. FDM - Volatility Comparison

The current volatility for WisdomTree U.S. SmallCap Dividend Fund (DES) is 4.88%, while First Trust Dow Jones Select MicroCap Index Fund (FDM) has a volatility of 6.37%. This indicates that DES experiences smaller price fluctuations and is considered to be less risky than FDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DESFDMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.88%

6.37%

-1.49%

Volatility (6M)

Calculated over the trailing 6-month period

11.87%

14.17%

-2.30%

Volatility (1Y)

Calculated over the trailing 1-year period

20.50%

22.29%

-1.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.66%

21.53%

-1.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.98%

23.33%

-1.35%