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DHS vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DHS vs. SPY

Last updated Jun 23, 2026

DHS (WisdomTree US High Dividend Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, DHS returned 9.64%/yr vs 15.70%/yr for SPY. A 0.80 correlation means they provide meaningful diversification when combined. DHS charges 0.38%/yr vs 0.09%/yr for SPY.

Performance

DHS vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree US High Dividend Fund (DHS) and State Street SPDR S&P 500 ETF (SPY). 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 achieves a 11.70% return, which is significantly higher than SPY's 9.74% return. Over the past 10 years, DHS has underperformed SPY with an annualized return of 9.64%, while SPY has yielded a comparatively higher 15.70% annualized return.

DHS

1D
0.55%
1M
-0.98%
YTD
11.70%
6M
11.36%
1Y
21.93%
3Y*
17.26%
5Y*
11.67%
10Y*
9.64%

SPY

1D
-0.31%
1M
0.09%
YTD
9.74%
6M
9.27%
1Y
26.65%
3Y*
21.27%
5Y*
13.51%
10Y*
15.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DHS vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DHS
WisdomTree US High Dividend Fund		11.70%12.87%18.02%-0.19%7.97%23.20%-5.70%22.59%-7.41%11.69%
SPY
State Street SPDR S&P 500 ETF		9.74%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between DHS and SPY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.31

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

0.46

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

0.58

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

0.68

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2006

0.80

Over the past year, the correlation between DHS and SPY has dropped to 0.31 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

DHS vs. SPY - Sectors Allocation Comparison

Sectors
DHS
SPY

Financial Services

22.1%
11.1%

Consumer Defensive

18.5%
4.5%

Healthcare

14.9%
8.3%

Communication Services

9.0%
10.6%

Energy

8.8%
3.1%

Utilities

8.7%
2.1%

Consumer Cyclical

5.6%
9.9%

Industrials

4.2%
7.8%

Technology

4.1%
39.0%

Real Estate

2.9%
1.8%

Basic Materials

1.2%
1.7%

Financial Services

DHS
22.1%
SPY
11.1%

Consumer Defensive

DHS
18.5%
SPY
4.5%

Healthcare

DHS
14.9%
SPY
8.3%

Communication Services

DHS
9.0%
SPY
10.6%

Energy

DHS
8.8%
SPY
3.1%

Utilities

DHS
8.7%
SPY
2.1%

Consumer Cyclical

DHS
5.6%
SPY
9.9%

Industrials

DHS
4.2%
SPY
7.8%

Technology

DHS
4.1%
SPY
39.0%

Real Estate

DHS
2.9%
SPY
1.8%

Basic Materials

DHS
1.2%
SPY
1.7%

Compare stocks, funds, or ETFs

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WisdomTree US High Dividend Fund

State Street SPDR S&P 500 ETF

Often compared with DHS:
DHS vs. SCHDDHS vs. SPHDDHS vs. DGRODHS vs. JEPIDHS vs. FDVVDHS vs. DTDDHS vs. DNP
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

DHS vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DHS
DHS Risk / Return Rank: 7070
Overall Rank
DHS Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
DHS Sortino Ratio Rank: 7575
Sortino Ratio Rank
DHS Omega Ratio Rank: 6464
Omega Ratio Rank
DHS Calmar Ratio Rank: 7272
Calmar Ratio Rank
DHS Martin Ratio Rank: 7070
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 6868
Overall Rank
SPY Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6666
Sortino Ratio Rank
SPY Omega Ratio Rank: 6868
Omega Ratio Rank
SPY Calmar Ratio Rank: 6363
Calmar Ratio Rank
SPY Martin Ratio Rank: 7474
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 vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US High Dividend Fund (DHS) and State Street SPDR S&P 500 ETF (SPY). 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.

DHSSPYDifference
Sharpe ratioReturn per unit of total volatility
2.17
2.16

+0.01

Sortino ratioReturn per unit of downside risk
3.21
2.91

+0.30

Omega ratioGain probability vs. loss probability

1.37

1.39

-0.02

Calmar ratioReturn relative to maximum drawdown

3.50

3.01

+0.48

Martin ratioReturn relative to average drawdown

12.69

13.54

-0.84

DHS vs. SPY - Sharpe Ratio Comparison

The current DHS Sharpe Ratio is 2.17, which is comparable to the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of DHS and SPY, 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 vs. SPY - Drawdown Comparison

The maximum DHS drawdown since its inception was -67.25%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DHS and SPY.

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Drawdown Indicators

DHSSPYDifference

Max Drawdown

Largest peak-to-trough decline

-67.25%

-55.19%

-12.06%

Max Drawdown (1Y)

Largest decline over 1 year

-6.30%

-8.88%

+2.58%

Max Drawdown (3Y)

Largest decline over 3 years

-11.87%

-18.76%

+6.89%

Max Drawdown (5Y)

Largest decline over 5 years

-15.28%

-24.50%

+9.22%

Max Drawdown (10Y)

Largest decline over 10 years

-37.35%

-33.72%

-3.63%

Current Drawdown

Current decline from peak

-1.98%

-1.75%

-0.23%

Average Drawdown

Average peak-to-trough decline

-9.53%

-9.04%

-0.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.73%

1.97%

-0.24%

Volatility

DHS vs. SPY - Volatility Comparison

The current volatility for WisdomTree US High Dividend Fund (DHS) is 3.56%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.64%. This indicates that DHS experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DHSSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.56%

4.64%

-1.08%

Volatility (6M)

Calculated over the trailing 6-month period

7.51%

9.75%

-2.24%

Volatility (1Y)

Calculated over the trailing 1-year period

10.19%

12.43%

-2.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.88%

17.14%

-3.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.10%

17.99%

-1.89%

DHS vs. SPY - Expense Ratio Comparison

DHS has a 0.38% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

DHS vs. SPY - Dividend Comparison

DHS's dividend yield for the trailing twelve months is around 3.30%, more than SPY's 1.01% yield.

PositionTTM20252024202320222021202020192018201720162015
DHS
WisdomTree US High Dividend Fund		3.30%3.32%3.66%4.31%3.42%3.29%4.14%3.69%3.76%3.00%3.25%3.53%
SPY
State Street SPDR S&P 500 ETF		1.01%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

DHS and SPY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPY has higher volatility (4.64%) compared to DHS (3.56%). In terms of maximum drawdown, DHS dropped -67.25% vs SPY's -55.19%.

On 10-year performance, SPY leads with 15.70% vs 9.64% for DHS. On fees, SPY is cheaper at 0.09% per year. On volatility, DHS has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPY has performed better with a 15.70% return vs 9.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPY is cheaper with a 0.09% expense ratio, compared with 0.38% for DHS.

DHS has the higher dividend yield at 3.30%, compared with 1.01% for SPY.

DHS is categorized as Large Cap Value Equities, while SPY is S&P 500. DHS tracks WisdomTree U.S. High Dividend Index, while SPY tracks S&P 500 Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.38% for DHS and 0.09% for SPY.

DHS currently has the higher Sharpe Ratio (2.17 vs 2.16), 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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