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DES vs. RWJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DES vs. RWJ

Last updated Jun 24, 2026

DES (WisdomTree U.S. SmallCap Dividend Fund) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both exchange-traded funds - DES is a Small Cap Blend Equities fund tracking the WisdomTree SmallCap Dividend (TR), while RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, DES returned 8.55%/yr vs 13.63%/yr for RWJ. Their correlation of 0.91 suggests significant overlap in exposure. DES charges 0.38%/yr vs 0.39%/yr for RWJ.

Performance

DES vs. RWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. SmallCap Dividend Fund (DES) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with DES having a 19.31% return and RWJ slightly lower at 19.01%. Over the past 10 years, DES has underperformed RWJ with an annualized return of 8.55%, while RWJ has yielded a comparatively higher 13.63% annualized return.

DES

1D
0.66%
1M
3.24%
YTD
19.31%
6M
18.13%
1Y
28.95%
3Y*
15.80%
5Y*
7.19%
10Y*
8.55%

RWJ

1D
-0.17%
1M
4.67%
YTD
19.01%
6M
17.54%
1Y
37.61%
3Y*
18.15%
5Y*
8.58%
10Y*
13.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DES vs. RWJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DES
WisdomTree U.S. SmallCap Dividend Fund		19.31%0.25%9.93%16.50%-10.96%26.51%-4.26%20.26%-12.85%8.64%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		19.01%7.75%11.81%16.21%-10.97%52.82%20.83%20.29%-16.95%5.30%

Correlation

The correlation between DES and RWJ 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

0.94

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

0.94

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

0.93

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2008

0.91

The correlation between DES and RWJ has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

DES vs. RWJ - Sectors Allocation Comparison

Sectors
DES
RWJ

Financial Services

24.8%
10.7%

Consumer Cyclical

16.0%
23.9%

Industrials

13.4%
16.0%

Energy

10.2%
7.2%

Real Estate

10.1%
3.9%

Basic Materials

6.3%
5.0%

Technology

6.0%
11.2%

Utilities

4.2%
0.8%

Consumer Defensive

4.1%
6.8%

Communication Services

2.8%
3.5%

Healthcare

2.0%
11.0%

Financial Services

DES
24.8%
RWJ
10.7%

Consumer Cyclical

DES
16.0%
RWJ
23.9%

Industrials

DES
13.4%
RWJ
16.0%

Energy

DES
10.2%
RWJ
7.2%

Real Estate

DES
10.1%
RWJ
3.9%

Basic Materials

DES
6.3%
RWJ
5.0%

Technology

DES
6.0%
RWJ
11.2%

Utilities

DES
4.2%
RWJ
0.8%

Consumer Defensive

DES
4.1%
RWJ
6.8%

Communication Services

DES
2.8%
RWJ
3.5%

Healthcare

DES
2.0%
RWJ
11.0%

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

Invesco S&P SmallCap 600 Revenue ETF

Often compared with DES:
DES vs. FDVVDES vs. AVUVDES vs. EESDES vs. IWNDES vs. SCHDDES vs. VBRDES vs. VXUS
Often compared with RWJ:
RWJ vs. AVUVXRWJ vs. XSVMRWJ vs. RZVRWJ vs. RWKRWJ vs. CALFRWJ vs. RFVRWJ vs. FSMD

Return for Risk

DES vs. RWJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DES
DES Risk / Return Rank: 6161
Overall Rank
DES Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
DES Sortino Ratio Rank: 5959
Sortino Ratio Rank
DES Omega Ratio Rank: 5252
Omega Ratio Rank
DES Calmar Ratio Rank: 7777
Calmar Ratio Rank
DES Martin Ratio Rank: 6363
Martin Ratio Rank
RWJ
RWJ Risk / Return Rank: 6363
Overall Rank
RWJ Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
RWJ Sortino Ratio Rank: 6464
Sortino Ratio Rank
RWJ Omega Ratio Rank: 5757
Omega Ratio Rank
RWJ Calmar Ratio Rank: 7070
Calmar Ratio Rank
RWJ Martin Ratio Rank: 6262
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. RWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. SmallCap Dividend Fund (DES) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). 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.

DESRWJDifference
Sharpe ratioReturn per unit of total volatility
1.77
1.95

-0.18

Sortino ratioReturn per unit of downside risk
2.64
2.83

-0.19

Omega ratioGain probability vs. loss probability

1.31

1.34

-0.02

Calmar ratioReturn relative to maximum drawdown

3.80

3.34

+0.46

Martin ratioReturn relative to average drawdown

10.90

10.72

+0.18

DES vs. RWJ - Sharpe Ratio Comparison

The current DES Sharpe Ratio is 1.77, which is comparable to the RWJ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of DES and RWJ, 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. RWJ - Drawdown Comparison

The maximum DES drawdown since its inception was -65.48%, which is greater than RWJ's maximum drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for DES and RWJ.

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Drawdown Indicators

DESRWJDifference

Max Drawdown

Largest peak-to-trough decline

-65.48%

-55.97%

-9.51%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-11.31%

+3.67%

Max Drawdown (3Y)

Largest decline over 3 years

-25.16%

-29.29%

+4.13%

Max Drawdown (5Y)

Largest decline over 5 years

-25.16%

-29.29%

+4.13%

Max Drawdown (10Y)

Largest decline over 10 years

-45.65%

-51.33%

+5.68%

Current Drawdown

Current decline from peak

-0.97%

-1.68%

+0.71%

Average Drawdown

Average peak-to-trough decline

-9.66%

-9.21%

-0.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.66%

3.52%

-0.86%

Volatility

DES vs. RWJ - Volatility Comparison

The current volatility for WisdomTree U.S. SmallCap Dividend Fund (DES) is 3.95%, while Invesco S&P SmallCap 600 Revenue ETF (RWJ) has a volatility of 4.65%. This indicates that DES experiences smaller price fluctuations and is considered to be less risky than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DESRWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.95%

4.65%

-0.70%

Volatility (6M)

Calculated over the trailing 6-month period

11.12%

12.61%

-1.49%

Volatility (1Y)

Calculated over the trailing 1-year period

16.45%

19.39%

-2.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.52%

23.66%

-4.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.96%

26.12%

-4.16%

DES vs. RWJ - Expense Ratio Comparison

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

Dividends

DES vs. RWJ - Dividend Comparison

DES's dividend yield for the trailing twelve months is around 2.31%, more than RWJ's 1.05% yield.

PositionTTM20252024202320222021202020192018201720162015
DES
WisdomTree U.S. SmallCap Dividend Fund		2.31%2.85%2.81%2.65%2.89%2.31%2.75%2.68%3.65%2.89%2.70%3.09%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		1.05%1.11%1.15%1.34%1.02%0.61%0.89%1.22%1.44%1.11%0.60%0.74%

Frequently Asked Questions

With a correlation of 0.92, DES and RWJ 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.

RWJ has higher volatility (4.65%) compared to DES (3.95%). In terms of maximum drawdown, DES dropped -65.48% vs RWJ's -55.97%.

On 10-year performance, RWJ leads with 13.63% vs 8.55% for DES. On fees, DES is cheaper at 0.38% per year. On volatility, DES has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RWJ has performed better with a 13.63% return vs 8.55%. 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 RWJ.

DES has the higher dividend yield at 2.31%, compared with 1.05% for RWJ.

DES is categorized as Small Cap Blend Equities, while RWJ is Small Cap Value Equities. DES tracks WisdomTree SmallCap Dividend (TR), while RWJ tracks S&P SmallCap 600 Revenue-Weighted Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.38% for DES and 0.39% for RWJ.

RWJ currently has the higher Sharpe Ratio (1.95 vs 1.77), 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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