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DES vs. IWMW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DES vs. IWMW

Last updated Aug 6, 2026
Documentation

DES (WisdomTree U.S. SmallCap Dividend Fund) and IWMW (iShares Russell 2000 BuyWrite ETF) are both exchange-traded funds - DES is a Small Cap Blend Equities fund tracking the WisdomTree SmallCap Dividend (TR), while IWMW is a Derivative Income fund tracking the Cboe FTSE Russell IWM 2% OTM BuyWrite Index. Both are passively managed. Over the past year, DES returned 32.63% vs 26.97% for IWMW. Their 0.79 correlation means they have sometimes moved together and sometimes differently. DES charges 0.38%/yr vs 0.39%/yr for IWMW.

Performance

DES vs. IWMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. SmallCap Dividend Fund (DES) and iShares Russell 2000 BuyWrite ETF (IWMW). 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 24.76% return, which is significantly higher than IWMW's 16.14% return.

DES

1D
-0.65%
1M
2.72%
6M
12.64%
YTD
24.76%
1Y
32.63%
3Y*
13.96%
5Y*
8.42%
10Y*
8.22%
ALL TIME*
7.96%

IWMW

1D
0.13%
1M
2.26%
6M
14.29%
YTD
16.14%
1Y
26.97%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
12.51%
*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
$5.14M$4.84M$5.81M

IWMW

iShares Russell 2000 BuyWrite ETF
$647.07K$528.72K$531.31K

DES vs. IWMW - Yearly Performance Comparison

2026 (YTD)20252024
DES
WisdomTree U.S. SmallCap Dividend Fund		24.76%0.25%13.67%
IWMW
iShares Russell 2000 BuyWrite ETF		16.14%7.82%5.85%

Correlation

The correlation between DES and IWMW 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 (All Time)
Calculated using the full available price history since Mar 15, 2024

0.79

The correlation between DES and IWMW has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.

DES vs. IWMW - Sectors Allocation Comparison

Sectors
DES
IWMW

Financial Services

25.2%
17.6%

Consumer Cyclical

16.3%
9.2%

Industrials

13.6%
14.1%

Real Estate

9.9%
6.7%

Energy

9.5%
5.5%

Technology

6.2%
14.5%

Basic Materials

6.1%
4.4%

Utilities

4.1%
2.8%

Consumer Defensive

4.1%
2.6%

Communication Services

2.9%
2.2%

Healthcare

2.1%
20.3%

Financial Services

DES
25.2%
IWMW
17.6%

Consumer Cyclical

DES
16.3%
IWMW
9.2%

Industrials

DES
13.6%
IWMW
14.1%

Real Estate

DES
9.9%
IWMW
6.7%

Energy

DES
9.5%
IWMW
5.5%

Technology

DES
6.2%
IWMW
14.5%

Basic Materials

DES
6.1%
IWMW
4.4%

Utilities

DES
4.1%
IWMW
2.8%

Consumer Defensive

DES
4.1%
IWMW
2.6%

Communication Services

DES
2.9%
IWMW
2.2%

Healthcare

DES
2.1%
IWMW
20.3%

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

iShares Russell 2000 BuyWrite ETF

Often compared with DES:
DES vs. FDVVDES vs. AVUVDES vs. EESDES vs. IWNDES vs. SCHDDES vs. VBRDES vs. VXUS
Often compared with IWMW:
IWMW vs. IWMIWMW vs. IVVWIWMW vs. SCHDIWMW vs. QQQIIWMW vs. SPYIWMW vs. IWMLIWMW vs. IWMI

Return for Risk

DES vs. IWMW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DES
DES Risk / Return Rank: 8484
Overall Rank
DES Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
DES Sortino Ratio Rank: 8686
Sortino Ratio Rank
DES Omega Ratio Rank: 8080
Omega Ratio Rank
DES Calmar Ratio Rank: 9090
Calmar Ratio Rank
DES Martin Ratio Rank: 8484
Martin Ratio Rank
IWMW
IWMW Risk / Return Rank: 8585
Overall Rank
IWMW Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
IWMW Sortino Ratio Rank: 8181
Sortino Ratio Rank
IWMW Omega Ratio Rank: 8888
Omega Ratio Rank
IWMW Calmar Ratio Rank: 8888
Calmar Ratio Rank
IWMW Martin Ratio Rank: 8585
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. IWMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. SmallCap Dividend Fund (DES) and iShares Russell 2000 BuyWrite ETF (IWMW). 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.

DESIWMWDifference
Sharpe ratioReturn per unit of total volatility
2.09
2.18

-0.09

Sortino ratioReturn per unit of downside risk
3.14
2.95

+0.19

Omega ratioGain probability vs. loss probability

1.37

1.43

-0.05

Calmar ratioReturn relative to maximum drawdown

4.29

3.90

+0.39

Martin ratioReturn relative to average drawdown

12.92

13.50

-0.58

DES vs. IWMW - Sharpe Ratio Comparison

The current DES Sharpe Ratio is 2.09, which is comparable to the IWMW Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of DES and IWMW, 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. IWMW - Drawdown Comparison

The maximum DES drawdown since its inception was -65.48%, which is greater than IWMW's maximum drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for DES and IWMW.

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Drawdown Indicators

DESIWMWDifference

Max Drawdown

Largest peak-to-trough decline

-65.48%

-21.82%

-43.66%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-6.94%

-0.70%

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

-0.65%

0.00%

-0.65%

Average Drawdown

Average peak-to-trough decline

-9.61%

-3.59%

-6.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

2.00%

+0.53%

Volatility

DES vs. IWMW - Volatility Comparison

WisdomTree U.S. SmallCap Dividend Fund (DES) has a higher volatility of 3.66% compared to iShares Russell 2000 BuyWrite ETF (IWMW) at 3.14%. This indicates that DES's price experiences larger fluctuations and is considered to be riskier than IWMW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DESIWMWDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.66%

3.14%

+0.52%

Volatility (6M)

Calculated over the trailing 6-month period

10.22%

9.40%

+0.82%

Volatility (1Y)

Calculated over the trailing 1-year period

15.72%

12.46%

+3.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.37%

15.79%

+3.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.92%

15.79%

+6.13%

DES vs. IWMW - Expense Ratio Comparison

DES has a 0.38% expense ratio, which is lower than IWMW's 0.39% expense ratio.

Dividends

DES vs. IWMW - Dividend Comparison

DES's dividend yield for the trailing twelve months is around 2.22%, less than IWMW's 20.22% yield.

PositionTTM20252024202320222021202020192018201720162015
DES
WisdomTree U.S. SmallCap Dividend Fund		2.22%2.85%2.81%2.65%2.89%2.31%2.75%2.68%3.65%2.89%2.70%3.09%
IWMW
iShares Russell 2000 BuyWrite ETF		20.22%20.98%17.73%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

DES and IWMW 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.

DES has higher volatility (3.66%) compared to IWMW (3.14%). In terms of maximum drawdown, DES dropped -65.48% vs IWMW's -21.82%.

On 1-year performance, DES leads with 32.63% vs 26.97% for IWMW. On fees, DES is cheaper at 0.38% per year. On volatility, IWMW has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, DES has performed better with a 32.63% return vs 26.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DES is cheaper with a 0.38% expense ratio, compared with 0.39% for IWMW.

IWMW has the higher dividend yield at 20.22%, compared with 2.22% for DES.

DES is categorized as Small Cap Blend Equities, while IWMW is Derivative Income. DES tracks WisdomTree SmallCap Dividend (TR), while IWMW tracks Cboe FTSE Russell IWM 2% OTM BuyWrite Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.38% for DES and 0.39% for IWMW.

IWMW currently has the higher Sharpe Ratio (2.18 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.

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