DGS vs. AVES
DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - DGS is a Dividend fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while AVES is a Emerging Markets Equities fund actively managed by Avantis. DGS is passively managed, while AVES is actively managed. Over the past 3 years, DGS returned 11.49%/yr vs 14.88%/yr for AVES. Their correlation of 0.92 means they have usually moved in the same direction. DGS charges 0.58%/yr vs 0.36%/yr for AVES.
Performance
DGS vs. AVES - Performance Comparison
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Returns By Period
In the year-to-date period, DGS achieves a 8.16% return, which is significantly higher than AVES's 7.59% return.
DGS
- 1D
- 0.00%
- 1M
- -5.05%
- 6M
- 0.93%
- YTD
- 8.16%
- 1Y
- 15.60%
- 3Y*
- 11.49%
- 5Y*
- 6.78%
- 10Y*
- 8.21%
- ALL TIME*
- 4.63%
AVES
- 1D
- -0.75%
- 1M
- -4.02%
- 6M
- 0.78%
- YTD
- 7.59%
- 1Y
- 19.41%
- 3Y*
- 14.88%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.66M | $7.29M | $6.23M | |
| $2.57M | $2.59M | $2.98M |
DGS vs. AVES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 8.16% | 21.18% | 1.13% | 19.08% | -12.35% | 0.90% |
AVES Avantis Emerging Markets Value ETF | 7.59% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
Correlation
The correlation between DGS and AVES is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.92 |
The correlation between DGS and AVES has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.
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Return for Risk
DGS vs. AVES — Risk / Return Rank
DGS
AVES
DGS vs. AVES - 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 Value ETF (AVES). 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.
| DGS | AVES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.44 | +0.10 |
| Martin ratioReturn relative to average drawdown | 4.58 | 4.35 | +0.22 |
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Drawdowns
DGS vs. AVES - Drawdown Comparison
The maximum DGS drawdown since its inception was -61.83%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for DGS and AVES.
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Drawdown Indicators
| DGS | AVES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.83% | -27.40% | -34.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -12.90% | +2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.31% | -18.50% | -0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.08% | — | — |
Current DrawdownCurrent decline from peak | -7.35% | -9.48% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -7.66% | -4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 4.26% | -0.87% |
Volatility
DGS vs. AVES - Volatility Comparison
The current volatility for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) is 5.55%, while Avantis Emerging Markets Value ETF (AVES) has a volatility of 6.96%. This indicates that DGS experiences smaller price fluctuations and is considered to be less risky than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGS | AVES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 6.96% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.52% | 18.01% | -2.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.41% | 20.01% | -2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 17.49% | -2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.34% | 17.49% | -0.15% |
DGS vs. AVES - Expense Ratio Comparison
DGS has a 0.58% expense ratio, which is higher than AVES's 0.36% expense ratio.
Dividends
DGS vs. AVES - Dividend Comparison
DGS's dividend yield for the trailing twelve months is around 3.96%, more than AVES's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 2.59% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.96% | 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
With a correlation of 0.92, DGS and AVES 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.
AVES has higher volatility (6.96%) compared to DGS (5.55%). In terms of maximum drawdown, DGS dropped -61.83% vs AVES's -27.40%.
On 3-year performance, AVES leads with 14.88% vs 11.49% for DGS. On fees, AVES is cheaper at 0.36% per year. On volatility, DGS has been the lower-risk option at 5.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AVES has performed better with a 14.88% return vs 11.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVES is cheaper with a 0.36% expense ratio, compared with 0.58% for DGS.
DGS has the higher dividend yield at 3.96%, compared with 2.59% for AVES.
DGS is categorized as Dividend, while AVES is Emerging Markets Equities. They also come from different issuers: WisdomTree and Avantis. Their fees differ too: 0.58% for DGS and 0.36% for AVES.
AVES currently has the higher Sharpe Ratio (0.93 vs 0.89), 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.
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