DIM vs. SPY

Last updated Jun 3, 2026

DIM (WisdomTree International MidCap Dividend Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - DIM is a Foreign Large Cap Equities fund tracking the WisdomTree International MidCap 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, DIM returned 7.98%/yr vs 15.57%/yr for SPY. A 0.77 correlation means they provide meaningful diversification when combined. DIM charges 0.58%/yr vs 0.09%/yr for SPY.

Performance

DIM vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International MidCap Dividend Fund (DIM) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIM achieves a 7.79% return, which is significantly lower than SPY's 11.69% return. Over the past 10 years, DIM has underperformed SPY with an annualized return of 7.98%, while SPY has yielded a comparatively higher 15.57% annualized return.

DIM

• 1D: 0.21%
• 1M: 0.16%
• YTD: 7.79%
• 6M: 10.77%
• 1Y: 20.07%
• 3Y*: 18.23%
• 5Y*: 8.43%
• 10Y*: 7.98%

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

DIM vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIM WisdomTree International MidCap Dividend Fund	7.79%	37.25%	3.51%	15.00%	-14.09%	9.55%	-0.40%	19.85%	-15.32%	28.01%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between DIM and SPY is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 19, 2006	0.77

The correlation between DIM and SPY shifts across timeframes, from 0.66 (3 years) to 0.77 (all time), reflecting how their relationship changes across market environments.

DIM vs. SPY - Sectors Allocation Comparison

Sectors	DIM	SPY
Financial Services	25.0%	11.8%
Industrials	21.5%	7.8%
Real Estate	7.9%	1.9%
Consumer Cyclical	7.8%	10.3%
Utilities	7.6%	2.4%
Consumer Defensive	6.4%	4.8%
Basic Materials	5.6%	1.8%
Communication Services	5.5%	11.3%
Energy	5.2%	3.6%
Healthcare	3.8%	8.4%
Technology	3.7%	35.9%

Return for Risk

DIM vs. SPY — Risk / Return Rank

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

DIM

DIM Risk / Return Rank: 43
DIM Sharpe Ratio Rank: 44
DIM Sortino Ratio Rank: 43
DIM Omega Ratio Rank: 42
DIM Calmar Ratio Rank: 40
DIM Martin Ratio Rank: 46

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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.

DIM vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International MidCap Dividend Fund (DIM) 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.

	DIM	SPY	Difference
Sharpe ratio Return per unit of total volatility	1.55	2.52	-0.97
Sortino ratio Return per unit of downside risk	2.18	3.42	-1.24
Omega ratio Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio Return relative to maximum drawdown	2.04	3.42	-1.38
Martin ratio Return relative to average drawdown	7.75	15.93	-8.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIM vs. SPY - Sharpe Ratio Comparison

The current DIM Sharpe Ratio is 1.55, which is lower than the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of DIM 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.

Sharpe Ratios by Period

	DIM	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	2.52	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.84	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.87	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.59	-0.29

Drawdowns

DIM vs. SPY - Drawdown Comparison

The maximum DIM drawdown since its inception was -61.45%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DIM and SPY.

Drawdown Indicators

	DIM	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-61.45%	-55.19%	-6.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.56%	-8.88%	-1.68%
Max Drawdown (3Y) Largest decline over 3 years	-12.13%	-18.76%	+6.63%
Max Drawdown (5Y) Largest decline over 5 years	-30.71%	-24.50%	-6.21%
Max Drawdown (10Y) Largest decline over 10 years	-40.89%	-33.72%	-7.17%
Current Drawdown Current decline from peak	-2.84%	0.00%	-2.84%
Average Drawdown Average peak-to-trough decline	-12.63%	-9.05%	-3.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	1.91%	+0.86%

Volatility

DIM vs. SPY - Volatility Comparison

WisdomTree International MidCap Dividend Fund (DIM) has a higher volatility of 4.39% compared to State Street SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that DIM's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIM	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	2.75%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	10.69%	8.89%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	11.81%	+1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	17.05%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	17.94%	-1.03%

DIM vs. SPY - Expense Ratio Comparison

DIM has a 0.58% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

DIM vs. SPY - Dividend Comparison

DIM's dividend yield for the trailing twelve months is around 2.83%, more than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIM WisdomTree International MidCap Dividend Fund	2.83%	3.20%	3.58%	4.62%	3.96%	3.65%	2.53%	3.26%	3.28%	2.57%	2.94%	2.81%
SPY State Street SPDR S&P 500 ETF	0.97%	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

Can I hold both DIM and SPY in my portfolio?

DIM and SPY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIM or SPY?

DIM has higher volatility (4.39%) compared to SPY (2.75%). In terms of maximum drawdown, DIM dropped -61.45% vs SPY's -55.19%.

Which ETF is better, DIM or SPY?

On 10-year performance, SPY leads with 15.57% vs 7.98% for DIM. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIM or SPY?

Over the 10-year period, SPY has performed better with a 15.57% return vs 7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIM or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.58% for DIM.

Which ETF pays a higher dividend yield, DIM or SPY?

DIM has the higher dividend yield at 2.83%, compared with 0.97% for SPY.

What is the main difference between DIM and SPY?

DIM is categorized as Foreign Large Cap Equities, while SPY is S&P 500. DIM tracks WisdomTree International MidCap Dividend Index, while SPY tracks S&P 500 Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.58% for DIM and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.52 vs 1.55), 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.