DGS vs. UEVM

Last updated Jun 4, 2026

DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and UEVM (VictoryShares Emerging Markets Value Momentum ETF) are both exchange-traded funds - DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index. Both are passively managed. Over the past 5 years, DGS returned 7.85%/yr vs 7.55%/yr for UEVM. Their correlation of 0.91 suggests significant overlap in exposure. DGS charges 0.58%/yr vs 0.45%/yr for UEVM.

Performance

DGS vs. UEVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and VictoryShares Emerging Markets Value Momentum ETF (UEVM). 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 UEVM's 8.99% 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%

UEVM

• 1D: -1.86%
• 1M: 0.77%
• YTD: 8.99%
• 6M: 8.31%
• 1Y: 24.92%
• 3Y*: 18.34%
• 5Y*: 7.55%
• 10Y*: —

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

DGS vs. UEVM - 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%	6.80%
UEVM VictoryShares Emerging Markets Value Momentum ETF	8.99%	22.74%	11.92%	17.41%	-14.60%	11.09%	3.77%	10.71%	-16.96%	3.70%

Correlation

The correlation between DGS and UEVM is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.91

The correlation between DGS and UEVM has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

DGS vs. UEVM — 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

UEVM

UEVM Risk / Return Rank: 49
UEVM Sharpe Ratio Rank: 48
UEVM Sortino Ratio Rank: 45
UEVM Omega Ratio Rank: 47
UEVM Calmar Ratio Rank: 52
UEVM Martin Ratio Rank: 51

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. UEVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and VictoryShares Emerging Markets Value Momentum ETF (UEVM). 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	UEVM	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.65	+0.11
Sortino ratio: Return per unit of downside risk	2.43	2.26	+0.17
Omega ratio: Gain probability vs. loss probability	1.32	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	2.72	2.56	+0.16
Martin ratio: Return relative to average drawdown	9.16	8.65	+0.51
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. UEVM - Sharpe Ratio Comparison

The current DGS Sharpe Ratio is 1.76, which is comparable to the UEVM Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of DGS and UEVM, 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	UEVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.65	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.48	+0.05
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	0.33	-0.10

Drawdowns

DGS vs. UEVM - Drawdown Comparison

The maximum DGS drawdown since its inception was -61.83%, which is greater than UEVM's maximum drawdown of -45.44%. Use the drawdown chart below to compare losses from any high point for DGS and UEVM.

Drawdown Indicators

	DGS	UEVM	Difference
Max Drawdown Largest peak-to-trough decline	-61.83%	-45.44%	-16.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.06%	-9.79%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-18.88%	-0.43%
Max Drawdown (5Y) Largest decline over 5 years	-24.86%	-26.98%	+2.12%
Max Drawdown (10Y) Largest decline over 10 years	-44.08%	—	—
Current Drawdown Current decline from peak	-1.40%	-2.18%	+0.78%
Average Drawdown Average peak-to-trough decline	-12.59%	-11.67%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.89%	+0.09%

Volatility

DGS vs. UEVM - Volatility Comparison

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and VictoryShares Emerging Markets Value Momentum ETF (UEVM) have volatilities of 5.24% and 5.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGS	UEVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.24%	5.15%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	13.03%	12.13%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	15.18%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	15.90%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.32%	18.39%	-1.07%

DGS vs. UEVM - Expense Ratio Comparison

DGS has a 0.58% expense ratio, which is higher than UEVM's 0.45% expense ratio.

Dividends

DGS vs. UEVM - Dividend Comparison

DGS's dividend yield for the trailing twelve months is around 3.21%, more than UEVM's 3.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
UEVM VictoryShares Emerging Markets Value Momentum ETF	3.05%	4.02%	5.65%	4.71%	3.46%	4.49%	2.19%	2.79%	2.34%	0.79%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGS and UEVM in my portfolio?

DGS and UEVM have a correlation of 0.86, 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 UEVM?

DGS has higher volatility (5.24%) compared to UEVM (5.15%). In terms of maximum drawdown, DGS dropped -61.83% vs UEVM's -45.44%.

Which ETF is better, DGS or UEVM?

On 5-year performance, DGS leads with 7.85% vs 7.55% for UEVM. On fees, UEVM is cheaper at 0.45% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGS or UEVM?

Over the 5-year period, DGS has performed better with a 7.85% return vs 7.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGS or UEVM?

UEVM is cheaper with a 0.45% expense ratio, compared with 0.58% for DGS.

Which ETF pays a higher dividend yield, DGS or UEVM?

DGS has the higher dividend yield at 3.21%, compared with 3.05% for UEVM.

What is the main difference between DGS and UEVM?

DGS is categorized as Emerging Markets Diversified, while UEVM is Momentum. DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index, while UEVM tracks Nasdaq Victory Emerging Market Value Momentum Index. They also come from different issuers: WisdomTree and Victory Capital. Their fees differ too: 0.58% for DGS and 0.45% for UEVM.

Which has better risk-adjusted returns?

DGS currently has the higher Sharpe Ratio (1.76 vs 1.65), 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.