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DGS vs. FRDM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DGS vs. FRDM

Last updated Jun 4, 2026

DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and FRDM (Freedom 100 Emerging Markets ETF) are both Emerging Markets Diversified funds - DGS tracks the WisdomTree Emerging Markets SmallCap Dividend Index while FRDM tracks the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Over the past 5 years, DGS returned 7.85%/yr vs 19.30%/yr for FRDM. Their correlation of 0.83 suggests significant overlap in exposure. DGS charges 0.58%/yr vs 0.49%/yr for FRDM.

Performance

DGS vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and Freedom 100 Emerging Markets ETF (FRDM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DGS achieves a 14.53% return, which is significantly lower than FRDM's 44.61% 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%

FRDM

1D
-1.30%
1M
17.06%
YTD
44.61%
6M
53.16%
1Y
97.46%
3Y*
37.08%
5Y*
19.30%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

DGS vs. FRDM - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
DGS
WisdomTree Emerging Markets SmallCap Dividend Fund		14.53%21.18%1.13%19.08%-12.35%15.33%4.06%13.47%
FRDM
Freedom 100 Emerging Markets ETF		44.61%61.27%1.70%22.77%-14.45%6.13%16.90%12.33%

Correlation

The correlation between DGS and FRDM is 0.85, 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

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.83

Correlation (5Y)
Calculated over the trailing 5-year period

0.83

Correlation (All Time)
Calculated using the full available price history since May 24, 2019

0.83

The correlation between DGS and FRDM has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree Emerging Markets SmallCap Dividend Fund

Freedom 100 Emerging Markets ETF

Often compared with DGS:
DGS vs. AVESDGS vs. AVEEDGS vs. AVDVDGS vs. DLSDGS vs. AVEMDGS vs. VWODGS vs. VSS
Often compared with FRDM:
FRDM vs. SPYFRDM vs. EMDMFRDM vs. AVSEFRDM vs. EMXC.LFRDM vs. DAADXFRDM vs. DFAEFRDM vs. DEHP

Return for Risk

DGS vs. FRDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DGS
DGS Risk / Return Rank: 5151
Overall Rank
DGS Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
DGS Sortino Ratio Rank: 4949
Sortino Ratio Rank
DGS Omega Ratio Rank: 5050
Omega Ratio Rank
DGS Calmar Ratio Rank: 5454
Calmar Ratio Rank
DGS Martin Ratio Rank: 5353
Martin Ratio Rank
FRDM
FRDM Risk / Return Rank: 9393
Overall Rank
FRDM Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
FRDM Sortino Ratio Rank: 9393
Sortino Ratio Rank
FRDM Omega Ratio Rank: 9393
Omega Ratio Rank
FRDM Calmar Ratio Rank: 9191
Calmar Ratio Rank
FRDM Martin Ratio Rank: 9292
Martin Ratio Rank
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. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and Freedom 100 Emerging Markets ETF (FRDM). 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.

DGSFRDMDifference

Sharpe ratio

Return per unit of total volatility

1.76

4.00

-2.24

Sortino ratio

Return per unit of downside risk

2.43

4.65

-2.22

Omega ratio

Gain probability vs. loss probability

1.32

1.67

-0.35

Calmar ratio

Return relative to maximum drawdown

2.72

5.81

-3.09

Martin ratio

Return relative to average drawdown

9.16

23.37

-14.21

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. FRDM - Sharpe Ratio Comparison

The current DGS Sharpe Ratio is 1.76, which is lower than the FRDM Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of DGS and FRDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DGSFRDMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.76

4.00

-2.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.93

-0.40

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

0.85

-0.63

Drawdowns

DGS vs. FRDM - Drawdown Comparison

The maximum DGS drawdown since its inception was -61.83%, which is greater than FRDM's maximum drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for DGS and FRDM.

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Drawdown Indicators

DGSFRDMDifference

Max Drawdown

Largest peak-to-trough decline

-61.83%

-40.49%

-21.34%

Max Drawdown (1Y)

Largest decline over 1 year

-10.06%

-16.87%

+6.81%

Max Drawdown (3Y)

Largest decline over 3 years

-19.31%

-16.87%

-2.44%

Max Drawdown (5Y)

Largest decline over 5 years

-24.86%

-29.25%

+4.39%

Max Drawdown (10Y)

Largest decline over 10 years

-44.08%

—

—

Current Drawdown

Current decline from peak

-1.40%

-1.30%

-0.10%

Average Drawdown

Average peak-to-trough decline

-12.59%

-7.09%

-5.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.98%

4.18%

-1.20%

Volatility

DGS vs. FRDM - Volatility Comparison

The current volatility for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) is 5.24%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 11.03%. This indicates that DGS experiences smaller price fluctuations and is considered to be less risky than FRDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DGSFRDMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.24%

11.03%

-5.79%

Volatility (6M)

Calculated over the trailing 6-month period

13.03%

21.65%

-8.62%

Volatility (1Y)

Calculated over the trailing 1-year period

15.56%

24.50%

-8.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.87%

20.80%

-5.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.32%

22.77%

-5.45%

DGS vs. FRDM - Expense Ratio Comparison

DGS has a 0.58% expense ratio, which is higher than FRDM's 0.49% expense ratio.

Dividends

DGS vs. FRDM - Dividend Comparison

DGS's dividend yield for the trailing twelve months is around 3.21%, more than FRDM's 1.51% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
FRDM
Freedom 100 Emerging Markets ETF		1.51%2.26%2.53%2.66%2.72%2.17%1.11%1.07%0.00%0.00%0.00%0.00%

Frequently Asked Questions

DGS and FRDM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FRDM has higher volatility (11.03%) compared to DGS (5.24%). In terms of maximum drawdown, DGS dropped -61.83% vs FRDM's -40.49%.

On 5-year performance, FRDM leads with 19.30% vs 7.85% for DGS. On fees, FRDM is cheaper at 0.49% per year. On volatility, DGS has been the lower-risk option at 5.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FRDM has performed better with a 19.30% return vs 7.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FRDM is cheaper with a 0.49% expense ratio, compared with 0.58% for DGS.

DGS has the higher dividend yield at 3.21%, compared with 1.51% for FRDM.

DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: WisdomTree and Freedom Funds. Their fees differ too: 0.58% for DGS and 0.49% for FRDM.

FRDM currently has the higher Sharpe Ratio (4.00 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.

Portfolio Optimizer

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