DGSE.L vs. SPYX.DE

Last updated Apr 2, 2026

Compare and contrast key facts about WisdomTree Emerging Markets SmallCap Dividend UCITS ETF (DGSE.L) and SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE).

DGSE.L and SPYX.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DGSE.L is a passively managed fund by WisdomTree that tracks the performance of the MSCI Emerging Markets SMID NR USD. It was launched on Nov 19, 2014. SPYX.DE is a passively managed fund by State Street that tracks the performance of the MSCI Emerging Markets Small Cap. It was launched on May 13, 2011. Both DGSE.L and SPYX.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DGSE.L vs. SPYX.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Emerging Markets SmallCap Dividend UCITS ETF (DGSE.L) and SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE). The values are adjusted to include any dividend payments, if applicable.

DGSE.L vs. SPYX.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGSE.L WisdomTree Emerging Markets SmallCap Dividend UCITS ETF	6.36%	7.78%	-0.93%	9.14%	-4.67%	11.05%	-0.71%	8.36%	-12.58%	20.40%
SPYX.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF	4.71%	11.82%	3.77%	16.13%	-6.33%	16.33%	15.20%	7.00%	-13.54%	23.70%

Different Trading Currencies

DGSE.L is traded in GBp, while SPYX.DE is traded in EUR. To make them comparable, the SPYX.DE values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, DGSE.L achieves a 6.36% return, which is significantly higher than SPYX.DE's 4.71% return. Over the past 10 years, DGSE.L has underperformed SPYX.DE with an annualized return of 6.33%, while SPYX.DE has yielded a comparatively higher 8.95% annualized return.

DGSE.L

• 1D: 0.00%
• 1M: -2.93%
• YTD: 6.36%
• 6M: 5.36%
• 1Y: 19.53%
• 3Y*: 7.61%
• 5Y*: 4.69%
• 10Y*: 6.33%

SPYX.DE

• 1D: 3.09%
• 1M: -4.82%
• YTD: 4.71%
• 6M: 5.07%
• 1Y: 24.63%
• 3Y*: 11.25%
• 5Y*: 7.55%
• 10Y*: 8.95%

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

DGSE.L vs. SPYX.DE - Expense Ratio Comparison

DGSE.L has a 0.54% expense ratio, which is lower than SPYX.DE's 0.55% expense ratio.

SPYX.DE

SPDR MSCI Emerging Markets Small Cap UCITS ETF

DGSE.L

WisdomTree Emerging Markets SmallCap Dividend UCITS ETF

Return for Risk

DGSE.L vs. SPYX.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DGSE.L

DGSE.L Risk / Return Rank: 77
DGSE.L Sharpe Ratio Rank: 76
DGSE.L Sortino Ratio Rank: 76
DGSE.L Omega Ratio Rank: 74
DGSE.L Calmar Ratio Rank: 83
DGSE.L Martin Ratio Rank: 77

SPYX.DE

SPYX.DE Risk / Return Rank: 57
SPYX.DE Sharpe Ratio Rank: 56
SPYX.DE Sortino Ratio Rank: 53
SPYX.DE Omega Ratio Rank: 49
SPYX.DE Calmar Ratio Rank: 65
SPYX.DE Martin Ratio Rank: 59

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.

DGSE.L vs. SPYX.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend UCITS ETF (DGSE.L) and SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE). 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.

	DGSE.L	SPYX.DE	Difference
Sharpe ratio Return per unit of total volatility	1.47	1.42	+0.05
Sortino ratio Return per unit of downside risk	2.03	1.95	+0.08
Omega ratio Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio Return relative to maximum drawdown	2.61	2.51	+0.10
Martin ratio Return relative to average drawdown	9.04	8.24	+0.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGSE.L vs. SPYX.DE - Sharpe Ratio Comparison

The current DGSE.L Sharpe Ratio is 1.47, which is comparable to the SPYX.DE Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of DGSE.L and SPYX.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DGSE.L	SPYX.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	1.42	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.52	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.54	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.33	-0.03

Correlation

The correlation between DGSE.L and SPYX.DE is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DGSE.L vs. SPYX.DE - Dividend Comparison

DGSE.L's dividend yield for the trailing twelve months is around 0.03%, while SPYX.DE has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGSE.L WisdomTree Emerging Markets SmallCap Dividend UCITS ETF	0.03%	0.03%	0.05%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%	0.02%	0.01%	0.03%
SPYX.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

DGSE.L vs. SPYX.DE - Drawdown Comparison

The maximum DGSE.L drawdown since its inception was -35.43%, smaller than the maximum SPYX.DE drawdown of -38.12%. Use the drawdown chart below to compare losses from any high point for DGSE.L and SPYX.DE.

Drawdown Indicators

	DGSE.L	SPYX.DE	Difference
Max Drawdown Largest peak-to-trough decline	-35.43%	-41.12%	+5.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-13.79%	+4.65%
Max Drawdown (5Y) Largest decline over 5 years	-18.85%	-22.71%	+3.86%
Max Drawdown (10Y) Largest decline over 10 years	-35.43%	-41.12%	+5.69%
Current Drawdown Current decline from peak	-5.60%	-7.24%	+1.64%
Average Drawdown Average peak-to-trough decline	-7.77%	-8.33%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	3.01%	-0.45%

Volatility

DGSE.L vs. SPYX.DE - Volatility Comparison

The current volatility for WisdomTree Emerging Markets SmallCap Dividend UCITS ETF (DGSE.L) is 5.37%, while SPDR MSCI Emerging Markets Small Cap UCITS ETF (SPYX.DE) has a volatility of 6.75%. This indicates that DGSE.L experiences smaller price fluctuations and is considered to be less risky than SPYX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGSE.L	SPYX.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	6.75%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	12.60%	-3.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	17.27%	-3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.19%	14.28%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	16.59%	-0.95%