DGS vs. DEMSX

Last updated Jun 4, 2026

DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and DEMSX (DFA Emerging Markets Small Cap Portfolio) are both Emerging Markets Diversified funds. Over the past 10 years, DGS returned 9.93%/yr vs 9.41%/yr for DEMSX. Their correlation of 0.86 suggests significant overlap in exposure. DGS charges 0.58%/yr vs 0.59%/yr for DEMSX.

Performance

DGS vs. DEMSX - Performance Comparison

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

Returns By Period

In the year-to-date period, DGS achieves a 14.53% return, which is significantly higher than DEMSX's 11.52% return. Over the past 10 years, DGS has outperformed DEMSX with an annualized return of 9.93%, while DEMSX has yielded a comparatively lower 9.41% annualized return.

DGS

• 1D: -1.37%
• 1M: 2.58%
• YTD: 14.53%
• 6M: 15.57%
• 1Y: 27.26%
• 3Y*: 16.17%
• 5Y*: 7.85%
• 10Y*: 9.93%

DEMSX

• 1D: 0.00%
• 1M: 0.92%
• YTD: 11.52%
• 6M: 12.50%
• 1Y: 24.08%
• 3Y*: 14.90%
• 5Y*: 7.02%
• 10Y*: 9.41%

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

DGS vs. DEMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	14.53%	21.18%	1.13%	19.08%	-12.35%	15.33%	4.06%	18.90%	-16.52%	37.47%
DEMSX DFA Emerging Markets Small Cap Portfolio	11.52%	19.01%	4.92%	16.32%	-15.30%	19.54%	13.82%	14.89%	-17.55%	33.32%

Correlation

The correlation between DGS and DEMSX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 31, 2007	0.86

The correlation between DGS and DEMSX shifts across timeframes, from 0.75 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DGS vs. DEMSX — Risk / Return Rank

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

DGS

DGS Risk / Return Rank: 51
DGS Sharpe Ratio Rank: 50
DGS Sortino Ratio Rank: 49
DGS Omega Ratio Rank: 50
DGS Calmar Ratio Rank: 54
DGS Martin Ratio Rank: 53

DEMSX

DEMSX Risk / Return Rank: 40
DEMSX Sharpe Ratio Rank: 41
DEMSX Sortino Ratio Rank: 38
DEMSX Omega Ratio Rank: 44
DEMSX Calmar Ratio Rank: 40
DEMSX Martin Ratio Rank: 39

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. DEMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and DFA Emerging Markets Small Cap Portfolio (DEMSX). 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	DEMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.87	-0.11
Sortino ratio: Return per unit of downside risk	2.43	2.58	-0.15
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio: Return relative to maximum drawdown	2.72	2.39	+0.33
Martin ratio: Return relative to average drawdown	9.16	8.51	+0.65
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. DEMSX - Sharpe Ratio Comparison

The current DGS Sharpe Ratio is 1.76, which is comparable to the DEMSX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of DGS and DEMSX, 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	DEMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.87	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.53	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.64	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.61	-0.39

Drawdowns

DGS vs. DEMSX - Drawdown Comparison

The maximum DGS drawdown since its inception was -61.83%, smaller than the maximum DEMSX drawdown of -66.70%. Use the drawdown chart below to compare losses from any high point for DGS and DEMSX.

Drawdown Indicators

	DGS	DEMSX	Difference
Max Drawdown Largest peak-to-trough decline	-61.83%	-66.70%	+4.87%
Max Drawdown (1Y) Largest decline over 1 year	-10.06%	-10.30%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-17.21%	-2.10%
Max Drawdown (5Y) Largest decline over 5 years	-24.86%	-24.40%	-0.46%
Max Drawdown (10Y) Largest decline over 10 years	-44.08%	-47.28%	+3.20%
Current Drawdown Current decline from peak	-1.40%	-1.86%	+0.46%
Average Drawdown Average peak-to-trough decline	-12.59%	-13.60%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.88%	+0.10%

Volatility

DGS vs. DEMSX - Volatility Comparison

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) has a higher volatility of 5.24% compared to DFA Emerging Markets Small Cap Portfolio (DEMSX) at 4.74%. This indicates that DGS's price experiences larger fluctuations and is considered to be riskier than DEMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGS	DEMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.24%	4.74%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	13.03%	10.98%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	13.21%	+2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	13.29%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.32%	14.79%	+2.53%

DGS vs. DEMSX - Expense Ratio Comparison

DGS has a 0.58% expense ratio, which is lower than DEMSX's 0.59% expense ratio.

Dividends

DGS vs. DEMSX - Dividend Comparison

DGS's dividend yield for the trailing twelve months is around 3.21%, less than DEMSX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMSX DFA Emerging Markets Small Cap Portfolio	3.42%	3.79%	3.27%	2.94%	4.47%	10.20%	2.25%	3.11%	5.02%	3.41%	3.74%	3.24%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	3.21%	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 DEMSX in my portfolio?

DGS and DEMSX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGS or DEMSX?

DGS has higher volatility (5.24%) compared to DEMSX (4.74%). In terms of maximum drawdown, DGS dropped -61.83% vs DEMSX's -66.70%.

Which has better risk-adjusted returns?

DEMSX currently has the higher Sharpe Ratio (1.87 vs 1.76), 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.