DGS vs. AVEE

Last updated Jun 3, 2026

DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and AVEE (Avantis Emerging Markets Small Cap Equity ETF) are both Emerging Markets Diversified funds. DGS is passively managed, while AVEE is actively managed. Over the past year, DGS returned 29.05% vs 28.09% for AVEE. Their correlation of 0.92 suggests significant overlap in exposure. DGS charges 0.58%/yr vs 0.42%/yr for AVEE.

Performance

DGS vs. AVEE - Performance Comparison

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

Returns By Period

In the year-to-date period, DGS achieves a 16.12% return, which is significantly higher than AVEE's 15.27% return.

DGS

• 1D: 0.01%
• 1M: 3.58%
• YTD: 16.12%
• 6M: 17.73%
• 1Y: 29.05%
• 3Y*: 16.70%
• 5Y*: 8.34%
• 10Y*: 10.08%

AVEE

• 1D: -0.27%
• 1M: 1.40%
• YTD: 15.27%
• 6M: 15.81%
• 1Y: 28.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DGS vs. AVEE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	16.12%	21.18%	1.13%	10.56%
AVEE Avantis Emerging Markets Small Cap Equity ETF	15.27%	19.80%	2.91%	7.28%

Correlation

The correlation between DGS and AVEE is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Nov 10, 2023	0.92

The correlation between DGS and AVEE has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

DGS vs. AVEE — Risk / Return Rank

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

DGS

DGS Risk / Return Rank: 56
DGS Sharpe Ratio Rank: 54
DGS Sortino Ratio Rank: 53
DGS Omega Ratio Rank: 55
DGS Calmar Ratio Rank: 59
DGS Martin Ratio Rank: 56

AVEE

AVEE Risk / Return Rank: 50
AVEE Sharpe Ratio Rank: 48
AVEE Sortino Ratio Rank: 47
AVEE Omega Ratio Rank: 48
AVEE Calmar Ratio Rank: 54
AVEE Martin Ratio Rank: 51

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.

DGS vs. AVEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and Avantis Emerging Markets Small Cap Equity ETF (AVEE). 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.

	DGS	AVEE	Difference
Sharpe ratio Return per unit of total volatility	1.88	1.69	+0.19
Sortino ratio Return per unit of downside risk	2.58	2.33	+0.26
Omega ratio Gain probability vs. loss probability	1.34	1.31	+0.03
Calmar ratio Return relative to maximum drawdown	2.98	2.72	+0.26
Martin ratio Return relative to average drawdown	10.03	8.75	+1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGS vs. AVEE - Sharpe Ratio Comparison

The current DGS Sharpe Ratio is 1.88, which is comparable to the AVEE Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of DGS and AVEE, 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

	DGS	AVEE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.69	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.09	-0.86

Drawdowns

DGS vs. AVEE - Drawdown Comparison

The maximum DGS drawdown since its inception was -61.83%, which is greater than AVEE's maximum drawdown of -20.21%. Use the drawdown chart below to compare losses from any high point for DGS and AVEE.

Drawdown Indicators

	DGS	AVEE	Difference
Max Drawdown Largest peak-to-trough decline	-61.83%	-20.21%	-41.62%
Max Drawdown (1Y) Largest decline over 1 year	-10.06%	-10.65%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	—	—
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	-0.03%	-1.32%	+1.29%
Average Drawdown Average peak-to-trough decline	-12.59%	-3.68%	-8.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	3.31%	-0.33%

Volatility

DGS vs. AVEE - Volatility Comparison

The current volatility for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) is 5.04%, while Avantis Emerging Markets Small Cap Equity ETF (AVEE) has a volatility of 6.65%. This indicates that DGS experiences smaller price fluctuations and is considered to be less risky than AVEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGS	AVEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	6.65%	-1.61%
Volatility (6M) Calculated over the trailing 6-month period	12.95%	13.92%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	15.50%	16.70%	-1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.86%	16.61%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.31%	16.61%	+0.70%

DGS vs. AVEE - Expense Ratio Comparison

DGS has a 0.58% expense ratio, which is higher than AVEE's 0.42% expense ratio.

Dividends

DGS vs. AVEE - Dividend Comparison

DGS's dividend yield for the trailing twelve months is around 3.17%, more than AVEE's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVEE Avantis Emerging Markets Small Cap Equity ETF	2.01%	2.25%	3.26%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	3.17%	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 DGS and AVEE in my portfolio?

With a correlation of 0.93, DGS and AVEE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DGS or AVEE?

AVEE has higher volatility (6.65%) compared to DGS (5.04%). In terms of maximum drawdown, DGS dropped -61.83% vs AVEE's -20.21%.

Which ETF is better, DGS or AVEE?

On 1-year performance, DGS leads with 29.05% vs 28.09% for AVEE. On fees, AVEE is cheaper at 0.42% per year. On volatility, DGS has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGS or AVEE?

Over the 1-year period, DGS has performed better with a 29.05% return vs 28.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGS or AVEE?

AVEE is cheaper with a 0.42% expense ratio, compared with 0.58% for DGS.

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

DGS has the higher dividend yield at 3.17%, compared with 2.01% for AVEE.

What is the main difference between DGS and AVEE?

They also come from different issuers: WisdomTree and Avantis. Their fees differ too: 0.58% for DGS and 0.42% for AVEE.

Which has better risk-adjusted returns?

DGS currently has the higher Sharpe Ratio (1.88 vs 1.69), 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.