DGS vs. DLS
DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and DLS (WisdomTree International SmallCap Dividend Fund) are both exchange-traded funds - DGS is a Dividend fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while DLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree International SmallCap Dividend Index. Both are passively managed. Over the past 10 years, DGS returned 8.04%/yr vs 7.86%/yr for DLS. Their 0.78 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.58% expense ratio.
Performance
DGS vs. DLS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DGS having a 9.26% return and DLS slightly lower at 8.83%. Both investments have delivered pretty close results over the past 10 years, with DGS having a 8.04% annualized return and DLS not far behind at 7.86%.
DGS
- 1D
- 1.02%
- 1M
- -4.08%
- 6M
- 1.74%
- YTD
- 9.26%
- 1Y
- 16.78%
- 3Y*
- 12.33%
- 5Y*
- 6.77%
- 10Y*
- 8.04%
- ALL TIME*
- 4.68%
DLS
- 1D
- 0.38%
- 1M
- 1.63%
- 6M
- 3.76%
- YTD
- 8.83%
- 1Y
- 18.81%
- 3Y*
- 17.23%
- 5Y*
- 7.14%
- 10Y*
- 7.86%
- ALL TIME*
- 6.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.65M | $2.61M | $2.99M | |
| $1.55M | $1.40M | $1.52M |
DGS vs. DLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 9.26% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
DLS WisdomTree International SmallCap Dividend Fund | 8.83% | 34.11% | 3.06% | 15.33% | -17.31% | 11.71% | -1.28% | 22.20% | -18.95% | 31.83% |
Correlation
The correlation between DGS and DLS is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007 | 0.78 |
The correlation between DGS and DLS has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.
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Return for Risk
DGS vs. DLS — Risk / Return Rank
DGS
DLS
DGS vs. DLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and WisdomTree International SmallCap Dividend Fund (DLS). 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 | DLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.71 | -0.04 |
| Martin ratioReturn relative to average drawdown | 4.93 | 5.78 | -0.85 |
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Drawdowns
DGS vs. DLS - Drawdown Comparison
The maximum DGS drawdown since its inception was -61.83%, roughly equal to the maximum DLS drawdown of -63.13%. Use the drawdown chart below to compare losses from any high point for DGS and DLS.
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Drawdown Indicators
| DGS | DLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.83% | -63.13% | +1.30% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -11.04% | +0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -19.31% | -12.69% | -6.62% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -32.22% | +7.36% |
Max Drawdown (10Y)Largest decline over 10 years | -44.08% | -44.77% | +0.69% |
Current DrawdownCurrent decline from peak | -6.41% | -1.21% | -5.20% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -13.56% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 3.26% | +0.15% |
Volatility
DGS vs. DLS - Volatility Comparison
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) has a higher volatility of 5.64% compared to WisdomTree International SmallCap Dividend Fund (DLS) at 4.11%. This indicates that DGS's price experiences larger fluctuations and is considered to be riskier than DLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGS | DLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 4.11% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 15.50% | 11.78% | +3.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.44% | 13.92% | +3.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.34% | 15.64% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 16.38% | +0.97% |
DGS vs. DLS - Expense Ratio Comparison
Both DGS and DLS have an expense ratio of 0.58%.
Dividends
DGS vs. DLS - Dividend Comparison
DGS's dividend yield for the trailing twelve months is around 3.92%, more than DLS's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.92% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
DLS WisdomTree International SmallCap Dividend Fund | 3.49% | 3.87% | 4.56% | 4.29% | 4.96% | 3.29% | 2.50% | 3.37% | 3.66% | 2.79% | 3.29% | 2.72% |
Frequently Asked Questions
DGS and DLS have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGS has higher volatility (5.64%) compared to DLS (4.11%). In terms of maximum drawdown, DGS dropped -61.83% vs DLS's -63.13%.
On 10-year performance, DGS leads with 8.04% vs 7.86% for DLS. Both ETFs have the same 0.58% expense ratio. On volatility, DLS has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGS has performed better with a 8.04% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGS and DLS have the same expense ratio: 0.58% per year.
DGS has the higher dividend yield at 3.92%, compared with 3.49% for DLS.
DGS is categorized as Dividend, while DLS is Foreign Small & Mid Cap Equities. DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index, while DLS tracks WisdomTree International SmallCap Dividend Index.
DLS currently has the higher Sharpe Ratio (1.36 vs 0.97), 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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