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DES vs. RYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DES vs. RYLD

Last updated Jun 24, 2026

DES (WisdomTree U.S. SmallCap Dividend Fund) and RYLD (Global X Russell 2000 Covered Call ETF) are both exchange-traded funds - DES is a Small Cap Blend Equities fund tracking the WisdomTree SmallCap Dividend (TR), while RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index. Both are passively managed. Over the past 5 years, DES returned 7.19%/yr vs 2.45%/yr for RYLD. A 0.79 correlation means they provide meaningful diversification when combined. DES charges 0.38%/yr vs 0.60%/yr for RYLD.

Performance

DES vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. SmallCap Dividend Fund (DES) and Global X Russell 2000 Covered Call ETF (RYLD). 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 19.31% return, which is significantly higher than RYLD's 9.51% 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%

RYLD

1D
-0.50%
1M
2.12%
YTD
9.51%
6M
8.37%
1Y
20.74%
3Y*
8.72%
5Y*
2.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

DES vs. RYLD - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
DES
WisdomTree U.S. SmallCap Dividend Fund		19.31%0.25%9.93%16.50%-10.96%26.51%-4.26%4.16%
RYLD
Global X Russell 2000 Covered Call ETF		9.51%5.65%10.13%0.27%-13.03%22.13%-0.44%8.86%

Correlation

The correlation between DES and RYLD is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.69

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

0.78

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

0.80

Correlation (All Time)
Calculated using the full available price history since Apr 22, 2019

0.79

The correlation between DES and RYLD shifts across timeframes, from 0.69 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.

DES vs. RYLD - Sectors Allocation Comparison

Sectors
DES
RYLD

Financial Services

24.8%
15.5%

Consumer Cyclical

16.0%
8.0%

Industrials

13.4%
18.0%

Energy

10.2%
5.4%

Real Estate

10.1%
5.9%

Basic Materials

6.3%
4.7%

Technology

6.0%
19.0%

Utilities

4.2%
2.8%

Consumer Defensive

4.1%
2.3%

Communication Services

2.8%
2.4%

Healthcare

2.0%
16.3%

Financial Services

DES
24.8%
RYLD
15.5%

Consumer Cyclical

DES
16.0%
RYLD
8.0%

Industrials

DES
13.4%
RYLD
18.0%

Energy

DES
10.2%
RYLD
5.4%

Real Estate

DES
10.1%
RYLD
5.9%

Basic Materials

DES
6.3%
RYLD
4.7%

Technology

DES
6.0%
RYLD
19.0%

Utilities

DES
4.2%
RYLD
2.8%

Consumer Defensive

DES
4.1%
RYLD
2.3%

Communication Services

DES
2.8%
RYLD
2.4%

Healthcare

DES
2.0%
RYLD
16.3%

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

Global X Russell 2000 Covered Call ETF

Often compared with DES:
DES vs. FDVVDES vs. AVUVDES vs. EESDES vs. IWNDES vs. SCHDDES vs. VBRDES vs. VXUS
Often compared with RYLD:
RYLD vs. QYLDRYLD vs. XYLDRYLD vs. JEPIRYLD vs. IWMRYLD vs. SVOLRYLD vs. SCHDRYLD vs. QQQ

Return for Risk

DES vs. RYLD — 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
RYLD
RYLD Risk / Return Rank: 6868
Overall Rank
RYLD Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
RYLD Sortino Ratio Rank: 6262
Sortino Ratio Rank
RYLD Omega Ratio Rank: 7373
Omega Ratio Rank
RYLD Calmar Ratio Rank: 6969
Calmar Ratio Rank
RYLD Martin Ratio Rank: 7474
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. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. SmallCap Dividend Fund (DES) and Global X Russell 2000 Covered Call ETF (RYLD). 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.

DESRYLDDifference
Sharpe ratioReturn per unit of total volatility
1.77
1.96

-0.18

Sortino ratioReturn per unit of downside risk
2.64
2.76

-0.12

Omega ratioGain probability vs. loss probability

1.31

1.41

-0.09

Calmar ratioReturn relative to maximum drawdown

3.80

3.31

+0.49

Martin ratioReturn relative to average drawdown

10.90

13.37

-2.47

DES vs. RYLD - Sharpe Ratio Comparison

The current DES Sharpe Ratio is 1.77, which is comparable to the RYLD Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of DES and RYLD, 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. RYLD - Drawdown Comparison

The maximum DES drawdown since its inception was -65.48%, which is greater than RYLD's maximum drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for DES and RYLD.

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Drawdown Indicators

DESRYLDDifference

Max Drawdown

Largest peak-to-trough decline

-65.48%

-41.53%

-23.95%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-6.29%

-1.35%

Max Drawdown (3Y)

Largest decline over 3 years

-25.16%

-19.05%

-6.11%

Max Drawdown (5Y)

Largest decline over 5 years

-25.16%

-21.33%

-3.83%

Max Drawdown (10Y)

Largest decline over 10 years

-45.65%

—

—

Current Drawdown

Current decline from peak

-0.97%

-0.50%

-0.47%

Average Drawdown

Average peak-to-trough decline

-9.66%

-8.78%

-0.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.66%

1.55%

+1.11%

Volatility

DES vs. RYLD - Volatility Comparison

WisdomTree U.S. SmallCap Dividend Fund (DES) has a higher volatility of 3.95% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 2.00%. This indicates that DES's price experiences larger fluctuations and is considered to be riskier than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DESRYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.95%

2.00%

+1.95%

Volatility (6M)

Calculated over the trailing 6-month period

11.12%

7.80%

+3.32%

Volatility (1Y)

Calculated over the trailing 1-year period

16.45%

10.66%

+5.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.52%

14.05%

+5.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.96%

17.15%

+4.81%

DES vs. RYLD - Expense Ratio Comparison

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

Dividends

DES vs. RYLD - Dividend Comparison

DES's dividend yield for the trailing twelve months is around 2.31%, less than RYLD's 11.73% 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%
RYLD
Global X Russell 2000 Covered Call ETF		11.73%12.00%12.03%12.64%13.49%12.35%10.76%6.43%0.00%0.00%0.00%0.00%

Frequently Asked Questions

DES and RYLD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DES has higher volatility (3.95%) compared to RYLD (2.00%). In terms of maximum drawdown, DES dropped -65.48% vs RYLD's -41.53%.

On 5-year performance, DES leads with 7.19% vs 2.45% for RYLD. On fees, DES is cheaper at 0.38% per year. On volatility, RYLD has been the lower-risk option at 2.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DES has performed better with a 7.19% return vs 2.45%. 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 0.60% for RYLD.

RYLD has the higher dividend yield at 11.73%, compared with 2.31% for DES.

DES is categorized as Small Cap Blend Equities, while RYLD is Derivative Income. DES tracks WisdomTree SmallCap Dividend (TR), while RYLD tracks CBOE Russell 2000 BuyWrite Index. They also come from different issuers: WisdomTree and Global X. Their fees differ too: 0.38% for DES and 0.60% for RYLD.

RYLD currently has the higher Sharpe Ratio (1.96 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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