DGS vs. SPHQ
DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. Both are passively managed. Over the past 10 years, DGS returned 10.14%/yr vs 15.27%/yr for SPHQ. A 0.67 correlation means they provide meaningful diversification when combined. DGS charges 0.58%/yr vs 0.15%/yr for SPHQ.
Performance
DGS vs. SPHQ - Performance Comparison
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Returns By Period
In the year-to-date period, DGS achieves a 14.94% return, which is significantly lower than SPHQ's 16.79% return. Over the past 10 years, DGS has underperformed SPHQ with an annualized return of 10.14%, while SPHQ has yielded a comparatively higher 15.27% annualized return.
DGS
- 1D
- 0.65%
- 1M
- 1.51%
- YTD
- 14.94%
- 6M
- 17.07%
- 1Y
- 25.61%
- 3Y*
- 15.36%
- 5Y*
- 8.06%
- 10Y*
- 10.14%
SPHQ
- 1D
- 1.02%
- 1M
- 4.96%
- YTD
- 16.79%
- 6M
- 15.77%
- 1Y
- 26.53%
- 3Y*
- 22.40%
- 5Y*
- 14.55%
- 10Y*
- 15.27%
DGS vs. SPHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 14.94% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
SPHQ Invesco S&P 500 Quality ETF | 16.79% | 13.25% | 25.44% | 24.83% | -15.76% | 28.03% | 17.36% | 33.64% | -7.10% | 19.10% |
Correlation
The correlation between DGS and SPHQ is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007 | 0.67 |
The correlation between DGS and SPHQ has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
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Return for Risk
DGS vs. SPHQ — Risk / Return Rank
DGS
SPHQ
DGS vs. SPHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and Invesco S&P 500 Quality ETF (SPHQ). 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 | SPHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 2.75 | -0.37 |
| Martin ratioReturn relative to average drawdown | 7.84 | 11.76 | -3.92 |
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Drawdowns
DGS vs. SPHQ - Drawdown Comparison
The maximum DGS drawdown since its inception was -61.83%, which is greater than SPHQ's maximum drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for DGS and SPHQ.
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Drawdown Indicators
| DGS | SPHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.83% | -57.83% | -4.00% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -8.90% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -19.31% | -16.57% | -2.74% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -25.04% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -44.08% | -31.60% | -12.48% |
Current DrawdownCurrent decline from peak | -1.05% | 0.00% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -10.69% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 2.09% | +0.96% |
Volatility
DGS vs. SPHQ - Volatility Comparison
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) has a higher volatility of 7.30% compared to Invesco S&P 500 Quality ETF (SPHQ) at 4.92%. This indicates that DGS's price experiences larger fluctuations and is considered to be riskier than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGS | SPHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 4.92% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 10.83% | +3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 13.18% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.08% | 16.53% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.39% | 17.90% | -0.51% |
DGS vs. SPHQ - Expense Ratio Comparison
DGS has a 0.58% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Dividends
DGS vs. SPHQ - Dividend Comparison
DGS's dividend yield for the trailing twelve months is around 3.20%, more than SPHQ's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.20% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
SPHQ Invesco S&P 500 Quality ETF | 1.03% | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% |
Frequently Asked Questions
DGS and SPHQ have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGS has higher volatility (7.30%) compared to SPHQ (4.92%). In terms of maximum drawdown, DGS dropped -61.83% vs SPHQ's -57.83%.
On 10-year performance, SPHQ leads with 15.27% vs 10.14% for DGS. On fees, SPHQ is cheaper at 0.15% per year. On volatility, SPHQ has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPHQ has performed better with a 15.27% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHQ is cheaper with a 0.15% expense ratio, compared with 0.58% for DGS.
DGS has the higher dividend yield at 3.20%, compared with 1.03% for SPHQ.
DGS is categorized as Emerging Markets Diversified, while SPHQ is S&P 500. DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index, while SPHQ tracks S&P 500 Quality Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.58% for DGS and 0.15% for SPHQ.
SPHQ currently has the higher Sharpe Ratio (1.85 vs 1.44), 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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