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DES vs. IWN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DES vs. IWN

Last updated Jun 23, 2026

DES (WisdomTree U.S. SmallCap Dividend Fund) and IWN (iShares Russell 2000 Value ETF) are both exchange-traded funds - DES is a Small Cap Blend Equities fund tracking the WisdomTree SmallCap Dividend (TR), while IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index. Both are passively managed. Over the past 10 years, DES returned 8.48%/yr vs 10.74%/yr for IWN. With a 0.96 correlation, they move nearly in lockstep. DES charges 0.38%/yr vs 0.24%/yr for IWN.

Performance

DES vs. IWN - 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 Value ETF (IWN). 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 18.52% return, which is significantly lower than IWN's 21.06% return. Over the past 10 years, DES has underperformed IWN with an annualized return of 8.48%, while IWN has yielded a comparatively higher 10.74% annualized return.

DES

1D
-0.13%
1M
2.56%
YTD
18.52%
6M
16.64%
1Y
30.08%
3Y*
15.54%
5Y*
7.29%
10Y*
8.48%

IWN

1D
0.52%
1M
3.53%
YTD
21.06%
6M
18.12%
1Y
44.70%
3Y*
19.27%
5Y*
7.50%
10Y*
10.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DES vs. IWN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DES
WisdomTree U.S. SmallCap Dividend Fund		18.52%0.25%9.93%16.50%-10.96%26.51%-4.26%20.26%-12.85%8.64%
IWN
iShares Russell 2000 Value ETF		21.06%12.40%7.63%14.56%-14.77%27.96%4.66%22.01%-13.01%7.69%

Correlation

The correlation between DES and IWN is 0.92, 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

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.95

Correlation (5Y)
Calculated over the trailing 5-year period

0.96

Correlation (10Y)
Calculated over the trailing 10-year period

0.96

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

0.96

The correlation between DES and IWN has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

DES vs. IWN - Sectors Allocation Comparison

Sectors
DES
IWN

Financial Services

24.8%
23.9%

Consumer Cyclical

16.0%
8.9%

Industrials

13.4%
12.1%

Energy

10.2%
7.9%

Real Estate

10.1%
10.2%

Basic Materials

6.3%
5.4%

Technology

6.0%
11.6%

Utilities

4.2%
5.1%

Consumer Defensive

4.1%
2.1%

Communication Services

2.8%
2.7%

Healthcare

2.0%
10.1%

Financial Services

DES
24.8%
IWN
23.9%

Consumer Cyclical

DES
16.0%
IWN
8.9%

Industrials

DES
13.4%
IWN
12.1%

Energy

DES
10.2%
IWN
7.9%

Real Estate

DES
10.1%
IWN
10.2%

Basic Materials

DES
6.3%
IWN
5.4%

Technology

DES
6.0%
IWN
11.6%

Utilities

DES
4.2%
IWN
5.1%

Consumer Defensive

DES
4.1%
IWN
2.1%

Communication Services

DES
2.8%
IWN
2.7%

Healthcare

DES
2.0%
IWN
10.1%

Compare stocks, funds, or ETFs

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WisdomTree U.S. SmallCap Dividend Fund

iShares Russell 2000 Value ETF

Often compared with DES:
DES vs. FDVVDES vs. AVUVDES vs. EESDES vs. SCHDDES vs. VBRDES vs. VXUSDES vs. RWJ
Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWVIWN vs. IWX

Return for Risk

DES vs. IWN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DES
DES Risk / Return Rank: 6262
Overall Rank
DES Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
DES Sortino Ratio Rank: 6060
Sortino Ratio Rank
DES Omega Ratio Rank: 5353
Omega Ratio Rank
DES Calmar Ratio Rank: 7979
Calmar Ratio Rank
DES Martin Ratio Rank: 6464
Martin Ratio Rank
IWN
IWN Risk / Return Rank: 8383
Overall Rank
IWN Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
IWN Sortino Ratio Rank: 8181
Sortino Ratio Rank
IWN Omega Ratio Rank: 7474
Omega Ratio Rank
IWN Calmar Ratio Rank: 9090
Calmar Ratio Rank
IWN Martin Ratio Rank: 8787
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. IWN - 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 Value ETF (IWN). 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.

DESIWNDifference
Sharpe ratioReturn per unit of total volatility
1.84
2.49

-0.65

Sortino ratioReturn per unit of downside risk
2.73
3.45

-0.72

Omega ratioGain probability vs. loss probability

1.32

1.42

-0.09

Calmar ratioReturn relative to maximum drawdown

3.95

5.31

-1.36

Martin ratioReturn relative to average drawdown

11.33

17.88

-6.55

DES vs. IWN - Sharpe Ratio Comparison

The current DES Sharpe Ratio is 1.84, which is comparable to the IWN Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of DES and IWN, 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. IWN - Drawdown Comparison

The maximum DES drawdown since its inception was -65.48%, which is greater than IWN's maximum drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for DES and IWN.

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Drawdown Indicators

DESIWNDifference

Max Drawdown

Largest peak-to-trough decline

-65.48%

-61.55%

-3.93%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-8.45%

+0.81%

Max Drawdown (3Y)

Largest decline over 3 years

-25.16%

-26.70%

+1.54%

Max Drawdown (5Y)

Largest decline over 5 years

-25.16%

-26.70%

+1.54%

Max Drawdown (10Y)

Largest decline over 10 years

-45.65%

-46.08%

+0.43%

Current Drawdown

Current decline from peak

-1.62%

0.00%

-1.62%

Average Drawdown

Average peak-to-trough decline

-9.66%

-10.14%

+0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.66%

2.51%

+0.15%

Volatility

DES vs. IWN - Volatility Comparison

The current volatility for WisdomTree U.S. SmallCap Dividend Fund (DES) is 3.92%, while iShares Russell 2000 Value ETF (IWN) has a volatility of 5.29%. This indicates that DES experiences smaller price fluctuations and is considered to be less risky than IWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DESIWNDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.92%

5.29%

-1.37%

Volatility (6M)

Calculated over the trailing 6-month period

11.11%

12.29%

-1.18%

Volatility (1Y)

Calculated over the trailing 1-year period

16.48%

18.08%

-1.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.51%

21.41%

-1.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.98%

23.42%

-1.44%

DES vs. IWN - Expense Ratio Comparison

DES has a 0.38% expense ratio, which is higher than IWN's 0.24% expense ratio.

Dividends

DES vs. IWN - Dividend Comparison

DES's dividend yield for the trailing twelve months is around 2.33%, more than IWN's 1.46% yield.

PositionTTM20252024202320222021202020192018201720162015
DES
WisdomTree U.S. SmallCap Dividend Fund		2.33%2.85%2.81%2.65%2.89%2.31%2.75%2.68%3.65%2.89%2.70%3.09%
IWN
iShares Russell 2000 Value ETF		1.46%1.70%1.80%2.04%2.12%1.48%1.60%1.92%1.99%1.78%1.74%2.15%

Frequently Asked Questions

With a correlation of 0.92, DES and IWN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IWN has higher volatility (5.29%) compared to DES (3.92%). In terms of maximum drawdown, DES dropped -65.48% vs IWN's -61.55%.

On 10-year performance, IWN leads with 10.74% vs 8.48% for DES. On fees, IWN is cheaper at 0.24% per year. On volatility, DES has been the lower-risk option at 3.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWN has performed better with a 10.74% return vs 8.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWN is cheaper with a 0.24% expense ratio, compared with 0.38% for DES.

DES has the higher dividend yield at 2.33%, compared with 1.46% for IWN.

DES is categorized as Small Cap Blend Equities, while IWN is Small Cap Value Equities. DES tracks WisdomTree SmallCap Dividend (TR), while IWN tracks Russell 2000 Value Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.38% for DES and 0.24% for IWN.

IWN currently has the higher Sharpe Ratio (2.49 vs 1.84), 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.

Portfolio Optimizer

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