DFEV vs. DGS

Last updated Jun 23, 2026

DFEV (Dimensional Emerging Markets Value ETF) and DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) are both Emerging Markets Diversified funds. DFEV is actively managed, while DGS is passively managed. Over the past 3 years, DFEV returned 26.68%/yr vs 16.75%/yr for DGS. Their correlation of 0.91 suggests significant overlap in exposure. DFEV charges 0.43%/yr vs 0.58%/yr for DGS.

Performance

DFEV vs. DGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Markets Value ETF (DFEV) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFEV achieves a 32.51% return, which is significantly higher than DGS's 16.30% return.

DFEV

• 1D: 0.43%
• 1M: 7.74%
• YTD: 32.51%
• 6M: 34.31%
• 1Y: 58.26%
• 3Y*: 26.68%
• 5Y*: —
• 10Y*: —

DGS

• 1D: -0.18%
• 1M: 2.28%
• YTD: 16.30%
• 6M: 17.62%
• 1Y: 28.60%
• 3Y*: 16.75%
• 5Y*: 8.53%
• 10Y*: 10.20%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFEV vs. DGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFEV Dimensional Emerging Markets Value ETF	32.51%	32.54%	7.26%	15.52%	-6.08%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	16.30%	21.18%	1.13%	19.08%	-7.19%

Correlation

The correlation between DFEV and DGS is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022	0.91

The correlation between DFEV and DGS has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

DFEV vs. DGS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFEV

DFEV Risk / Return Rank: 90
DFEV Sharpe Ratio Rank: 92
DFEV Sortino Ratio Rank: 88
DFEV Omega Ratio Rank: 91
DFEV Calmar Ratio Rank: 89
DFEV Martin Ratio Rank: 88

DGS

DGS Risk / Return Rank: 54
DGS Sharpe Ratio Rank: 52
DGS Sortino Ratio Rank: 50
DGS Omega Ratio Rank: 52
DGS Calmar Ratio Rank: 60
DGS Martin Ratio Rank: 56

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.

DFEV vs. DGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Value ETF (DFEV) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). 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.

	DFEV	DGS	Difference
Sharpe ratio: Return per unit of total volatility	3.05	1.73	+1.32
Sortino ratio: Return per unit of downside risk	3.85	2.39	+1.46
Omega ratio: Gain probability vs. loss probability	1.57	1.32	+0.25
Calmar ratio: Return relative to maximum drawdown	5.16	2.86	+2.30
Martin ratio: Return relative to average drawdown	18.53	9.43	+9.10

DFEV vs. DGS - Sharpe Ratio Comparison

The current DFEV Sharpe Ratio is 3.05, which is higher than the DGS Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of DFEV and DGS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFEV vs. DGS - Drawdown Comparison

The maximum DFEV drawdown since its inception was -18.49%, smaller than the maximum DGS drawdown of -61.83%. Use the drawdown chart below to compare losses from any high point for DFEV and DGS.

Drawdown Indicators

	DFEV	DGS	Difference
Max Drawdown Largest peak-to-trough decline	-18.49%	-61.83%	+43.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.35%	-10.06%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-17.94%	-19.31%	+1.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.86%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.08%	—
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	-4.63%	-12.56%	+7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.04%	+0.11%

Volatility

DFEV vs. DGS - Volatility Comparison

Dimensional Emerging Markets Value ETF (DFEV) has a higher volatility of 10.11% compared to WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) at 7.20%. This indicates that DFEV's price experiences larger fluctuations and is considered to be riskier than DGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEV	DGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.11%	7.20%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	17.17%	14.41%	+2.76%
Volatility (1Y) Calculated over the trailing 1-year period	19.26%	16.63%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	15.13%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	17.39%	-0.50%

DFEV vs. DGS - Expense Ratio Comparison

DFEV has a 0.43% expense ratio, which is lower than DGS's 0.58% expense ratio.

Dividends

DFEV vs. DGS - Dividend Comparison

DFEV's dividend yield for the trailing twelve months is around 1.98%, less than DGS's 3.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEV Dimensional Emerging Markets Value ETF	1.98%	2.69%	3.17%	3.47%	3.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	3.16%	3.45%	3.36%	4.55%	5.34%	3.98%	3.69%	3.95%	4.24%	2.81%	3.42%	3.28%

Frequently Asked Questions

Can I hold both DFEV and DGS in my portfolio?

DFEV and DGS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFEV or DGS?

DFEV has higher volatility (10.11%) compared to DGS (7.20%). In terms of maximum drawdown, DFEV dropped -18.49% vs DGS's -61.83%.

Which ETF is better, DFEV or DGS?

On 3-year performance, DFEV leads with 26.68% vs 16.75% for DGS. On fees, DFEV is cheaper at 0.43% per year. On volatility, DGS has been the lower-risk option at 7.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFEV or DGS?

Over the 3-year period, DFEV has performed better with a 26.68% return vs 16.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFEV or DGS?

DFEV is cheaper with a 0.43% expense ratio, compared with 0.58% for DGS.

Which ETF pays a higher dividend yield, DFEV or DGS?

DGS has the higher dividend yield at 3.16%, compared with 1.98% for DFEV.

What is the main difference between DFEV and DGS?

They also come from different issuers: Dimensional and WisdomTree. Their fees differ too: 0.43% for DFEV and 0.58% for DGS.

Which has better risk-adjusted returns?

DFEV currently has the higher Sharpe Ratio (3.05 vs 1.73), 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.