DGRW vs. ISPY

Last updated Jun 28, 2026

DGRW (WisdomTree U.S. Quality Dividend Growth Fund) and ISPY (ProShares S&P 500 High Income ETF) are both exchange-traded funds - DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index, while ISPY is a Derivative Income fund tracking the S&P 500 Daily Covered Call Index. Both are passively managed. Over the past year, DGRW returned 15.00% vs 16.35% for ISPY. Their correlation of 0.89 suggests significant overlap in exposure. DGRW charges 0.28%/yr vs 0.55%/yr for ISPY.

Performance

DGRW vs. ISPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. Quality Dividend Growth Fund (DGRW) and ProShares S&P 500 High Income ETF (ISPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGRW achieves a 6.48% return, which is significantly higher than ISPY's 5.30% return.

DGRW

• 1D: 0.05%
• 1M: -2.35%
• YTD: 6.48%
• 6M: 5.33%
• 1Y: 15.00%
• 3Y*: 14.72%
• 5Y*: 11.71%
• 10Y*: 14.19%

ISPY

• 1D: -1.41%
• 1M: -4.20%
• YTD: 5.30%
• 6M: 3.91%
• 1Y: 16.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DGRW vs. ISPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DGRW WisdomTree U.S. Quality Dividend Growth Fund	6.48%	12.17%	16.98%	0.19%
ISPY ProShares S&P 500 High Income ETF	5.30%	13.15%	21.31%	0.35%

Correlation

The correlation between DGRW and ISPY is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Dec 20, 2023	0.89

The correlation between DGRW and ISPY has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

DGRW vs. ISPY - Sectors Allocation Comparison

Sectors	DGRW	ISPY
Technology	32.1%	32.3%
Healthcare	12.8%	7.5%
Financial Services	11.3%	20.5%
Communication Services	10.1%	8.2%
Industrials	9.9%	7.0%
Consumer Cyclical	7.1%	7.8%
Consumer Defensive	6.7%	4.0%
Energy	5.0%	2.7%
Basic Materials	3.3%	1.5%
Utilities	0.2%	2.3%
Real Estate	-	1.6%

Return for Risk

DGRW vs. ISPY — Risk / Return Rank

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

DGRW

DGRW Risk / Return Rank: 48
DGRW Sharpe Ratio Rank: 49
DGRW Sortino Ratio Rank: 50
DGRW Omega Ratio Rank: 50
DGRW Calmar Ratio Rank: 42
DGRW Martin Ratio Rank: 52

ISPY

ISPY Risk / Return Rank: 44
ISPY Sharpe Ratio Rank: 43
ISPY Sortino Ratio Rank: 39
ISPY Omega Ratio Rank: 41
ISPY Calmar Ratio Rank: 44
ISPY Martin Ratio Rank: 52

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.

DGRW vs. ISPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Quality Dividend Growth Fund (DGRW) and ProShares S&P 500 High Income ETF (ISPY). 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.

	DGRW	ISPY	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.39	+0.15
Sortino ratio: Return per unit of downside risk	2.22	1.86	+0.36
Omega ratio: Gain probability vs. loss probability	1.29	1.25	+0.04
Calmar ratio: Return relative to maximum drawdown	1.90	1.99	-0.09
Martin ratio: Return relative to average drawdown	7.97	8.01	-0.04

DGRW vs. ISPY - Sharpe Ratio Comparison

The current DGRW Sharpe Ratio is 1.54, which is comparable to the ISPY Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of DGRW and ISPY, 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

DGRW vs. ISPY - Drawdown Comparison

The maximum DGRW drawdown since its inception was -32.04%, which is greater than ISPY's maximum drawdown of -16.88%. Use the drawdown chart below to compare losses from any high point for DGRW and ISPY.

Drawdown Indicators

	DGRW	ISPY	Difference
Max Drawdown Largest peak-to-trough decline	-32.04%	-16.88%	-15.16%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-8.43%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-16.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.04%	—	—
Current Drawdown Current decline from peak	-3.20%	-4.61%	+1.41%
Average Drawdown Average peak-to-trough decline	-3.01%	-2.10%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.09%	-0.11%

Volatility

DGRW vs. ISPY - Volatility Comparison

The current volatility for WisdomTree U.S. Quality Dividend Growth Fund (DGRW) is 3.72%, while ProShares S&P 500 High Income ETF (ISPY) has a volatility of 4.81%. This indicates that DGRW experiences smaller price fluctuations and is considered to be less risky than ISPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRW	ISPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	4.81%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	8.21%	9.57%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	10.26%	12.08%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	13.73%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	13.73%	+2.46%

DGRW vs. ISPY - Expense Ratio Comparison

DGRW has a 0.28% expense ratio, which is lower than ISPY's 0.55% expense ratio.

Dividends

DGRW vs. ISPY - Dividend Comparison

DGRW's dividend yield for the trailing twelve months is around 1.29%, less than ISPY's 4.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.29%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
ISPY ProShares S&P 500 High Income ETF	4.59%	8.56%	9.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGRW and ISPY in my portfolio?

DGRW and ISPY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGRW or ISPY?

ISPY has higher volatility (4.81%) compared to DGRW (3.72%). In terms of maximum drawdown, DGRW dropped -32.04% vs ISPY's -16.88%.

Which ETF is better, DGRW or ISPY?

On 1-year performance, ISPY leads with 16.35% vs 15.00% for DGRW. On fees, DGRW is cheaper at 0.28% per year. On volatility, DGRW has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGRW or ISPY?

Over the 1-year period, ISPY has performed better with a 16.35% return vs 15.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGRW or ISPY?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.55% for ISPY.

Which ETF pays a higher dividend yield, DGRW or ISPY?

ISPY has the higher dividend yield at 4.59%, compared with 1.29% for DGRW.

What is the main difference between DGRW and ISPY?

DGRW is categorized as Dividend, while ISPY is Derivative Income. DGRW tracks WisdomTree U.S. Quality Dividend Growth Index, while ISPY tracks S&P 500 Daily Covered Call Index. They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.28% for DGRW and 0.55% for ISPY.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (1.54 vs 1.39), 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.