DHS.L vs. WDEF.L

Last updated Jul 16, 2026

DHS.L (WisdomTree US High Dividend UCITS ETF USD (Dist)) and WDEF.L (WisdomTree Europe Defence UCITS ETF - EUR Acc EUR) are both exchange-traded funds - DHS.L is a Dividend fund tracking the WisdomTree US High Dividend UCITS Index, while WDEF.L is a Aerospace & Defense fund tracking the WisdomTree Europe Defence UCITS Index. Both are passively managed. Over the past year, DHS.L returned 21.91% vs -4.92% for WDEF.L. At a 0.02 correlation, their price movements are largely independent. DHS.L charges 0.29%/yr vs 0.40%/yr for WDEF.L.

Performance

DHS.L vs. WDEF.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 WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, DHS.L achieves a 12.15% return, which is significantly higher than WDEF.L's -3.08% 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%

WDEF.L

• 1D: -0.99%
• 1M: -3.47%
• 6M: -16.31%
• YTD: -3.08%
• 1Y: -4.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
DHS.L WisdomTree US High Dividend UCITS ETF USD (Dist)	12.15%	5.19%
WDEF.L WisdomTree Europe Defence UCITS ETF - EUR Acc EUR	-3.08%	25.18%

Correlation

The correlation between DHS.L and WDEF.L is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Mar 12, 2025	0.02

Return for Risk

DHS.L vs. WDEF.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: 83
DHS.L Sharpe Ratio Rank: 85
DHS.L Sortino Ratio Rank: 85
DHS.L Omega Ratio Rank: 81
DHS.L Calmar Ratio Rank: 83
DHS.L Martin Ratio Rank: 81

WDEF.L

WDEF.L Risk / Return Rank: 8
WDEF.L Sharpe Ratio Rank: 8
WDEF.L Sortino Ratio Rank: 8
WDEF.L Omega Ratio Rank: 8
WDEF.L Calmar Ratio Rank: 8
WDEF.L Martin Ratio Rank: 8

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. WDEF.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 WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.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.L	WDEF.L	Difference
Sharpe ratio: Return per unit of total volatility	2.18	-0.17	+2.35
Sortino ratio: Return per unit of downside risk	3.07	-0.04	+3.11
Omega ratio: Gain probability vs. loss probability	1.38	0.99	+0.38
Calmar ratio: Return relative to maximum drawdown	3.58	-0.25	+3.83
Martin ratio: Return relative to average drawdown	12.31	-0.50	+12.81

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

The current DHS.L Sharpe Ratio is 2.18, which is higher than the WDEF.L Sharpe Ratio of -0.17. The chart below compares the historical Sharpe Ratios of DHS.L and WDEF.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.

Drawdowns

DHS.L vs. WDEF.L - Drawdown Comparison

The maximum DHS.L drawdown since its inception was -38.98%, which is greater than WDEF.L's maximum drawdown of -19.62%. Use the drawdown chart below to compare losses from any high point for DHS.L and WDEF.L.

Drawdown Indicators

	DHS.L	WDEF.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.98%	-19.62%	-19.36%
Max Drawdown (1Y) Largest decline over 1 year	-6.40%	-19.62%	+13.22%
Max Drawdown (3Y) Largest decline over 3 years	-17.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.93%	—	—
Current Drawdown Current decline from peak	-1.32%	-18.41%	+17.09%
Average Drawdown Average peak-to-trough decline	-9.19%	-6.94%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	9.78%	-7.92%

Volatility

DHS.L vs. WDEF.L - Volatility Comparison

The current volatility for WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L) is 2.57%, while WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) has a volatility of 8.50%. This indicates that DHS.L experiences smaller price fluctuations and is considered to be less risky than WDEF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHS.L	WDEF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	8.50%	-5.93%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	21.93%	-13.80%
Volatility (1Y) Calculated over the trailing 1-year period	10.53%	28.70%	-18.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	30.52%	-16.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.89%	30.52%	-15.63%

DHS.L vs. WDEF.L - Expense Ratio Comparison

DHS.L has a 0.29% expense ratio, which is lower than WDEF.L's 0.40% expense ratio.

Dividends

DHS.L vs. WDEF.L - Dividend Comparison

DHS.L's dividend yield for the trailing twelve months is around 2.63%, while WDEF.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
WDEF.L WisdomTree Europe Defence UCITS ETF - EUR Acc EUR	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DHS.L and WDEF.L in my portfolio?

DHS.L and WDEF.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DHS.L or WDEF.L?

On fees, DHS.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DHS.L or WDEF.L?

DHS.L is cheaper with a 0.29% expense ratio, compared with 0.40% for WDEF.L.

What is the main difference between DHS.L and WDEF.L?

DHS.L is categorized as Dividend, while WDEF.L is Aerospace & Defense. DHS.L tracks WisdomTree US High Dividend UCITS Index, while WDEF.L tracks WisdomTree Europe Defence UCITS Index. Their fees differ too: 0.29% for DHS.L and 0.40% for WDEF.L.