DGS vs. FDL
DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - DGS is a Dividend fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 10 years, DGS returned 8.21%/yr vs 11.09%/yr for FDL. Their 0.57 correlation means they have sometimes moved together and sometimes differently. DGS charges 0.58%/yr vs 0.43%/yr for FDL.
Performance
DGS vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, DGS achieves a 8.16% return, which is significantly lower than FDL's 18.16% return. Over the past 10 years, DGS has underperformed FDL with an annualized return of 8.21%, while FDL has yielded a comparatively higher 11.09% annualized 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%
FDL
- 1D
- 0.02%
- 1M
- 3.27%
- 6M
- 9.50%
- YTD
- 18.16%
- 1Y
- 27.65%
- 3Y*
- 18.28%
- 5Y*
- 13.98%
- 10Y*
- 11.09%
- ALL TIME*
- 8.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.57M | $2.59M | $2.98M | |
| $52.24M | $50.06M | $42.95M |
DGS vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 8.16% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 18.16% | 14.79% | 17.98% | 2.94% | 6.66% | 26.10% | -4.30% | 24.41% | -5.99% | 12.02% |
Correlation
The correlation between DGS and FDL is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007 | 0.57 |
Over the past year, the correlation between DGS and FDL has dropped to 0.05 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.
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Return for Risk
DGS vs. FDL — Risk / Return Rank
DGS
FDL
DGS vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and First Trust Morningstar Dividend Leaders Index Fund (FDL). 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 | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.39 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 6.29 | -4.74 |
| Martin ratioReturn relative to average drawdown | 4.58 | 14.86 | -10.28 |
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Drawdowns
DGS vs. FDL - Drawdown Comparison
The maximum DGS drawdown since its inception was -61.83%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for DGS and FDL.
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Drawdown Indicators
| DGS | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.83% | -65.93% | +4.10% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -4.27% | -5.79% |
Max Drawdown (3Y)Largest decline over 3 years | -19.31% | -12.24% | -7.07% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -16.46% | -8.40% |
Max Drawdown (10Y)Largest decline over 10 years | -44.08% | -41.40% | -2.68% |
Current DrawdownCurrent decline from peak | -7.35% | -1.96% | -5.39% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -9.59% | -2.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 1.81% | +1.58% |
Volatility
DGS vs. FDL - Volatility Comparison
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) has a higher volatility of 5.55% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 4.96%. This indicates that DGS's price experiences larger fluctuations and is considered to be riskier than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGS | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 4.96% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 15.52% | 8.97% | +6.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.41% | 11.95% | +5.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 14.44% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.34% | 17.16% | +0.18% |
DGS vs. FDL - Expense Ratio Comparison
DGS has a 0.58% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
DGS vs. FDL - Dividend Comparison
DGS's dividend yield for the trailing twelve months is around 3.96%, more than FDL's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.59% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
Frequently Asked Questions
DGS and FDL have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGS has higher volatility (5.55%) compared to FDL (4.96%). In terms of maximum drawdown, DGS dropped -61.83% vs FDL's -65.93%.
On 10-year performance, FDL leads with 11.09% vs 8.21% for DGS. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FDL has performed better with a 11.09% return vs 8.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.43% expense ratio, compared with 0.58% for DGS.
DGS has the higher dividend yield at 3.96%, compared with 3.59% for FDL.
DGS is categorized as Dividend, while FDL is Large Cap Value Equities. DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index, while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: WisdomTree and First Trust. Their fees differ too: 0.58% for DGS and 0.43% for FDL.
FDL currently has the higher Sharpe Ratio (2.26 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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