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DHS.L vs. UINC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DHS.L vs. UINC.L

Last updated Jul 16, 2026
Documentation

DHS.L (WisdomTree US High Dividend UCITS ETF USD (Dist)) and UINC.L (First Trust US Equity Income UCITS ETF) are both Dividend funds - DHS.L tracks the WisdomTree US High Dividend UCITS Index while UINC.L tracks the First Trust US Equity Income UCITS ETF. Both are passively managed. Over the past 10 years, DHS.L returned 9.13%/yr vs 9.99%/yr for UINC.L. Their correlation of 0.85 suggests significant overlap in exposure.

Performance

DHS.L vs. UINC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L) and First Trust US Equity Income UCITS ETF (UINC.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DHS.L achieves a 12.15% return, which is significantly lower than UINC.L's 16.69% return. Over the past 10 years, DHS.L has underperformed UINC.L with an annualized return of 9.13%, while UINC.L has yielded a comparatively higher 9.99% annualized return.

DHS.L

1D
-0.35%
1M
1.99%
6M
8.98%
YTD
12.15%
1Y
21.91%
3Y*
16.07%
5Y*
12.35%
10Y*
9.13%

UINC.L

1D
-0.42%
1M
1.33%
6M
13.40%
YTD
16.69%
1Y
22.27%
3Y*
14.34%
5Y*
10.14%
10Y*
9.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DHS.L vs. UINC.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DHS.L
WisdomTree US High Dividend UCITS ETF USD (Dist)		12.15%4.77%20.38%-4.02%19.92%25.61%-7.64%18.85%-2.86%1.32%
UINC.L
First Trust US Equity Income UCITS ETF		16.69%0.01%8.49%10.78%4.24%34.94%-2.77%12.59%-3.41%5.05%

Correlation

The correlation between DHS.L and UINC.L is 0.83, 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

0.83

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

0.87

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

0.87

Correlation (10Y)
Calculated over the trailing 10-year period

0.86

Correlation (All Time)
Calculated using the full available price history since Apr 14, 2016

0.85

The correlation between DHS.L and UINC.L has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

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WisdomTree US High Dividend UCITS ETF USD (Dist)

First Trust US Equity Income UCITS ETF

Return for Risk

DHS.L vs. UINC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DHS.L
DHS.L Risk / Return Rank: 8383
Overall Rank
DHS.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
DHS.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
DHS.L Omega Ratio Rank: 8181
Omega Ratio Rank
DHS.L Calmar Ratio Rank: 8383
Calmar Ratio Rank
DHS.L Martin Ratio Rank: 8181
Martin Ratio Rank
UINC.L
UINC.L Risk / Return Rank: 8181
Overall Rank
UINC.L Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
UINC.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
UINC.L Omega Ratio Rank: 7171
Omega Ratio Rank
UINC.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
UINC.L Martin Ratio Rank: 8585
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.

DHS.L vs. UINC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L) and First Trust US Equity Income UCITS ETF (UINC.L). 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.

DHS.LUINC.LDifference
Sharpe ratioReturn per unit of total volatility
2.18
1.95

+0.23

Sortino ratioReturn per unit of downside risk
3.07
2.83

+0.24

Omega ratioGain probability vs. loss probability

1.38

1.34

+0.04

Calmar ratioReturn relative to maximum drawdown

3.58

4.79

-1.21

Martin ratioReturn relative to average drawdown

12.31

13.50

-1.20

DHS.L vs. UINC.L - Sharpe Ratio Comparison

The current DHS.L Sharpe Ratio is 2.18, which is comparable to the UINC.L Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of DHS.L and UINC.L, 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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Drawdowns

DHS.L vs. UINC.L - Drawdown Comparison

The maximum DHS.L drawdown since its inception was -38.98%, roughly equal to the maximum UINC.L drawdown of -38.33%. Use the drawdown chart below to compare losses from any high point for DHS.L and UINC.L.

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Drawdown Indicators

DHS.LUINC.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.98%

-38.33%

-0.65%

Max Drawdown (1Y)

Largest decline over 1 year

-6.40%

-5.10%

-1.30%

Max Drawdown (3Y)

Largest decline over 3 years

-17.50%

-23.09%

+5.59%

Max Drawdown (5Y)

Largest decline over 5 years

-18.39%

-23.09%

+4.70%

Max Drawdown (10Y)

Largest decline over 10 years

-28.93%

-38.33%

+9.40%

Current Drawdown

Current decline from peak

-1.32%

-0.88%

-0.44%

Average Drawdown

Average peak-to-trough decline

-9.19%

-8.26%

-0.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.86%

1.81%

+0.05%

Volatility

DHS.L vs. UINC.L - Volatility Comparison

The current volatility for WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L) is 2.57%, while First Trust US Equity Income UCITS ETF (UINC.L) has a volatility of 3.50%. This indicates that DHS.L experiences smaller price fluctuations and is considered to be less risky than UINC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DHS.LUINC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.57%

3.50%

-0.93%

Volatility (6M)

Calculated over the trailing 6-month period

8.13%

9.01%

-0.88%

Volatility (1Y)

Calculated over the trailing 1-year period

10.53%

12.64%

-2.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.84%

16.74%

-2.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.89%

19.57%

-4.68%

Dividends

DHS.L vs. UINC.L - Dividend Comparison

DHS.L's dividend yield for the trailing twelve months is around 2.63%, less than UINC.L's 2.82% yield.

PositionTTM20252024202320222021202020192018201720162015
DHS.L
WisdomTree US High Dividend UCITS ETF USD (Dist)		2.63%2.89%5.19%5.19%2.83%2.87%5.63%4.86%3.06%2.70%2.51%2.46%
UINC.L
First Trust US Equity Income UCITS ETF		2.82%3.03%2.84%3.20%3.25%2.15%3.40%3.14%3.01%2.49%1.60%0.00%

Frequently Asked Questions

DHS.L and UINC.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DHS.L tracks WisdomTree US High Dividend UCITS Index, while UINC.L tracks First Trust US Equity Income UCITS ETF. They also come from different issuers: WisdomTree and First Trust.

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