DGRS vs. CALF

Last updated Jun 23, 2026

DGRS (WisdomTree U.S. SmallCap Quality Dividend Growth Fund) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both exchange-traded funds - DGRS is a Small Cap Value Equities fund tracking the WisdomTree U.S. SmallCap Quality Dividend Growth Index, while CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index. Both are passively managed. Over the past 5 years, DGRS returned 7.27%/yr vs 3.73%/yr for CALF. Their correlation of 0.89 suggests significant overlap in exposure. DGRS charges 0.38%/yr vs 0.59%/yr for CALF.

Performance

DGRS vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS) and Pacer US Small Cap Cash Cows 100 ETF (CALF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGRS achieves a 17.80% return, which is significantly higher than CALF's 10.59% return.

DGRS

• 1D: 0.12%
• 1M: 3.82%
• YTD: 17.80%
• 6M: 15.58%
• 1Y: 30.62%
• 3Y*: 15.27%
• 5Y*: 7.27%
• 10Y*: 10.17%

CALF

• 1D: -0.51%
• 1M: 0.44%
• YTD: 10.59%
• 6M: 8.95%
• 1Y: 25.83%
• 3Y*: 9.33%
• 5Y*: 3.73%
• 10Y*: —

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

DGRS vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund	17.80%	-0.43%	10.40%	21.16%	-13.11%	23.11%	7.86%	24.20%	-10.75%	8.35%
CALF Pacer US Small Cap Cash Cows 100 ETF	10.59%	2.33%	-7.41%	35.43%	-15.20%	40.68%	16.55%	18.18%	-10.06%	5.78%

Correlation

The correlation between DGRS and CALF is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017	0.89

The correlation between DGRS and CALF has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

DGRS vs. CALF - Sectors Allocation Comparison

Sectors	DGRS	CALF
Financial Services	25.5%	0.2%
Industrials	19.1%	5.4%
Consumer Cyclical	16.1%	28.5%
Energy	10.8%	8.9%
Technology	9.2%	32.4%
Basic Materials	8.1%	1.6%
Consumer Defensive	6.3%	3.6%
Communication Services	1.9%	8.3%
Real Estate	1.8%	1.5%
Healthcare	1.2%	9.7%
Utilities	0.2%	-

Return for Risk

DGRS vs. CALF — Risk / Return Rank

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

DGRS

DGRS Risk / Return Rank: 56
DGRS Sharpe Ratio Rank: 52
DGRS Sortino Ratio Rank: 57
DGRS Omega Ratio Rank: 49
DGRS Calmar Ratio Rank: 66
DGRS Martin Ratio Rank: 57

CALF

CALF Risk / Return Rank: 58
CALF Sharpe Ratio Rank: 48
CALF Sortino Ratio Rank: 50
CALF Omega Ratio Rank: 46
CALF Calmar Ratio Rank: 82
CALF Martin Ratio Rank: 65

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.

DGRS vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS) and Pacer US Small Cap Cash Cows 100 ETF (CALF). 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.

	DGRS	CALF	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.62	+0.10
Sortino ratio: Return per unit of downside risk	2.63	2.37	+0.26
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.02
Calmar ratio: Return relative to maximum drawdown	3.18	4.22	-1.04
Martin ratio: Return relative to average drawdown	9.80	11.59	-1.78

DGRS vs. CALF - Sharpe Ratio Comparison

The current DGRS Sharpe Ratio is 1.72, which is comparable to the CALF Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of DGRS and CALF, 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

DGRS vs. CALF - Drawdown Comparison

The maximum DGRS drawdown since its inception was -44.83%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for DGRS and CALF.

Drawdown Indicators

	DGRS	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-44.83%	-47.58%	+2.75%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-6.15%	-3.53%
Max Drawdown (3Y) Largest decline over 3 years	-27.57%	-34.22%	+6.65%
Max Drawdown (5Y) Largest decline over 5 years	-27.57%	-34.22%	+6.65%
Max Drawdown (10Y) Largest decline over 10 years	-44.83%	—	—
Current Drawdown Current decline from peak	-0.67%	-4.33%	+3.66%
Average Drawdown Average peak-to-trough decline	-6.70%	-10.69%	+3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	2.23%	+0.90%

Volatility

DGRS vs. CALF - Volatility Comparison

The current volatility for WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS) is 3.99%, while Pacer US Small Cap Cash Cows 100 ETF (CALF) has a volatility of 5.39%. This indicates that DGRS experiences smaller price fluctuations and is considered to be less risky than CALF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRS	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	5.39%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	11.29%	10.92%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.94%	16.05%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.38%	23.39%	-3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.64%	25.97%	-2.33%

DGRS vs. CALF - Expense Ratio Comparison

DGRS has a 0.38% expense ratio, which is lower than CALF's 0.59% expense ratio.

Dividends

DGRS vs. CALF - Dividend Comparison

DGRS's dividend yield for the trailing twelve months is around 2.15%, more than CALF's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CALF Pacer US Small Cap Cash Cows 100 ETF	1.24%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%	0.00%	0.00%
DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund	2.15%	2.68%	2.15%	2.36%	2.88%	2.19%	2.32%	2.39%	2.64%	1.90%	1.82%	2.55%

Frequently Asked Questions

Can I hold both DGRS and CALF in my portfolio?

DGRS and CALF have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGRS or CALF?

CALF has higher volatility (5.39%) compared to DGRS (3.99%). In terms of maximum drawdown, DGRS dropped -44.83% vs CALF's -47.58%.

Which ETF is better, DGRS or CALF?

On 5-year performance, DGRS leads with 7.27% vs 3.73% for CALF. On fees, DGRS is cheaper at 0.38% per year. On volatility, DGRS has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGRS or CALF?

Over the 5-year period, DGRS has performed better with a 7.27% return vs 3.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGRS or CALF?

DGRS is cheaper with a 0.38% expense ratio, compared with 0.59% for CALF.

Which ETF pays a higher dividend yield, DGRS or CALF?

DGRS has the higher dividend yield at 2.15%, compared with 1.24% for CALF.

What is the main difference between DGRS and CALF?

DGRS is categorized as Small Cap Value Equities, while CALF is Small Cap Blend Equities. DGRS tracks WisdomTree U.S. SmallCap Quality Dividend Growth Index, while CALF tracks Pacer US Small Cap Cash Cows Index. They also come from different issuers: WisdomTree and Pacer. Their fees differ too: 0.38% for DGRS and 0.59% for CALF.

Which has better risk-adjusted returns?

DGRS currently has the higher Sharpe Ratio (1.72 vs 1.62), 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.