DGRS vs. SPY

Last updated Jun 3, 2026

DGRS (WisdomTree U.S. SmallCap Quality Dividend Growth Fund) and SPY (State Street SPDR S&P 500 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 SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, DGRS returned 9.72%/yr vs 15.57%/yr for SPY. A 0.72 correlation means they provide meaningful diversification when combined. DGRS charges 0.38%/yr vs 0.09%/yr for SPY.

Performance

DGRS vs. SPY - 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 State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGRS achieves a 14.73% return, which is significantly higher than SPY's 11.69% return. Over the past 10 years, DGRS has underperformed SPY with an annualized return of 9.72%, while SPY has yielded a comparatively higher 15.57% annualized return.

DGRS

• 1D: 0.99%
• 1M: -0.20%
• YTD: 14.73%
• 6M: 16.02%
• 1Y: 28.65%
• 3Y*: 14.12%
• 5Y*: 6.10%
• 10Y*: 9.72%

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

DGRS vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund	14.73%	-0.43%	10.40%	21.16%	-13.11%	23.11%	7.86%	24.20%	-10.75%	7.25%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between DGRS and SPY is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jul 26, 2013	0.72

The correlation between DGRS and SPY shifts across timeframes, from 0.62 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

DGRS vs. SPY - Sectors Allocation Comparison

Sectors	DGRS	SPY
Financial Services	24.8%	11.8%
Industrials	19.0%	7.8%
Consumer Cyclical	16.5%	10.3%
Energy	12.0%	3.6%
Technology	8.7%	35.9%
Basic Materials	7.6%	1.8%
Consumer Defensive	6.3%	4.8%
Communication Services	2.0%	11.3%
Real Estate	1.7%	1.9%
Healthcare	1.3%	8.4%
Utilities	0.2%	2.4%

Return for Risk

DGRS vs. SPY — Risk / Return Rank

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

DGRS

DGRS Risk / Return Rank: 49
DGRS Sharpe Ratio Rank: 46
DGRS Sortino Ratio Rank: 49
DGRS Omega Ratio Rank: 44
DGRS Calmar Ratio Rank: 57
DGRS Martin Ratio Rank: 51

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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. SPY - 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 State Street SPDR S&P 500 ETF (SPY). 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.

	DGRS	SPY	Difference
Sharpe ratio Return per unit of total volatility	1.60	2.52	-0.92
Sortino ratio Return per unit of downside risk	2.45	3.42	-0.96
Omega ratio Gain probability vs. loss probability	1.28	1.46	-0.17
Calmar ratio Return relative to maximum drawdown	2.86	3.42	-0.56
Martin ratio Return relative to average drawdown	8.78	15.93	-7.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGRS vs. SPY - Sharpe Ratio Comparison

The current DGRS Sharpe Ratio is 1.60, which is lower than the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of DGRS and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DGRS	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	2.52	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.84	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.87	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.59	-0.18

Drawdowns

DGRS vs. SPY - Drawdown Comparison

The maximum DGRS drawdown since its inception was -44.83%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DGRS and SPY.

Drawdown Indicators

	DGRS	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-44.83%	-55.19%	+10.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-8.88%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-27.57%	-18.76%	-8.81%
Max Drawdown (5Y) Largest decline over 5 years	-27.57%	-24.50%	-3.07%
Max Drawdown (10Y) Largest decline over 10 years	-44.83%	-33.72%	-11.11%
Current Drawdown Current decline from peak	-0.77%	0.00%	-0.77%
Average Drawdown Average peak-to-trough decline	-6.73%	-9.05%	+2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	1.91%	+1.24%

Volatility

DGRS vs. SPY - Volatility Comparison

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS) has a higher volatility of 4.60% compared to State Street SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that DGRS's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRS	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	2.75%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	11.31%	8.89%	+2.42%
Volatility (1Y) Calculated over the trailing 1-year period	18.02%	11.81%	+6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	17.05%	+3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.63%	17.94%	+5.69%

DGRS vs. SPY - Expense Ratio Comparison

DGRS has a 0.38% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

DGRS vs. SPY - Dividend Comparison

DGRS's dividend yield for the trailing twelve months is around 2.21%, more than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund	2.21%	2.68%	2.15%	2.36%	2.88%	2.19%	2.32%	2.39%	2.64%	1.90%	1.82%	2.55%
SPY State Street SPDR S&P 500 ETF	0.97%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both DGRS and SPY in my portfolio?

DGRS and SPY have a correlation of 0.62, 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 SPY?

DGRS has higher volatility (4.60%) compared to SPY (2.75%). In terms of maximum drawdown, DGRS dropped -44.83% vs SPY's -55.19%.

Which ETF is better, DGRS or SPY?

On 10-year performance, SPY leads with 15.57% vs 9.72% for DGRS. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGRS or SPY?

Over the 10-year period, SPY has performed better with a 15.57% return vs 9.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGRS or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.38% for DGRS.

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

DGRS has the higher dividend yield at 2.21%, compared with 0.97% for SPY.

What is the main difference between DGRS and SPY?

DGRS is categorized as Small Cap Value Equities, while SPY is S&P 500. DGRS tracks WisdomTree U.S. SmallCap Quality Dividend Growth Index, while SPY tracks S&P 500 Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.38% for DGRS and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.52 vs 1.60), 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.