DON vs. DGRW

Last updated Jun 4, 2026

DON (WisdomTree US MidCap Dividend ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - DON is a Mid Cap Value Equities fund tracking the WisdomTree U.S. MidCap Dividend Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, DON returned 9.16%/yr vs 14.15%/yr for DGRW. Their correlation of 0.82 suggests significant overlap in exposure. DON charges 0.38%/yr vs 0.28%/yr for DGRW.

Performance

DON vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree US MidCap Dividend ETF (DON) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DON achieves a 7.24% return, which is significantly lower than DGRW's 9.10% return. Over the past 10 years, DON has underperformed DGRW with an annualized return of 9.16%, while DGRW has yielded a comparatively higher 14.15% annualized return.

DON

• 1D: -0.45%
• 1M: 0.47%
• YTD: 7.24%
• 6M: 6.89%
• 1Y: 14.24%
• 3Y*: 13.37%
• 5Y*: 7.54%
• 10Y*: 9.16%

DGRW

• 1D: -0.83%
• 1M: 4.06%
• YTD: 9.10%
• 6M: 8.62%
• 1Y: 20.79%
• 3Y*: 16.64%
• 5Y*: 12.17%
• 10Y*: 14.15%

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

DON vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DON WisdomTree US MidCap Dividend ETF	7.24%	3.86%	14.20%	14.04%	-4.72%	30.29%	-5.40%	23.31%	-8.26%	14.86%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	9.10%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between DON and DGRW is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 23, 2013	0.83

The correlation between DON and DGRW shifts across timeframes, from 0.72 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

DON vs. DGRW - Sectors Allocation Comparison

Sectors	DON	DGRW
Financial Services	21.1%	11.3%
Industrials	17.1%	9.9%
Consumer Cyclical	11.5%	7.1%
Real Estate	9.3%	-
Energy	7.9%	5.0%
Utilities	6.9%	0.2%
Basic Materials	6.4%	3.3%
Technology	4.5%	32.1%
Communication Services	3.9%	10.1%
Consumer Defensive	3.6%	6.7%
Healthcare	2.4%	12.8%

Return for Risk

DON vs. DGRW — Risk / Return Rank

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

DON

DON Risk / Return Rank: 31
DON Sharpe Ratio Rank: 30
DON Sortino Ratio Rank: 31
DON Omega Ratio Rank: 27
DON Calmar Ratio Rank: 31
DON Martin Ratio Rank: 32

DGRW

DGRW Risk / Return Rank: 60
DGRW Sharpe Ratio Rank: 61
DGRW Sortino Ratio Rank: 65
DGRW Omega Ratio Rank: 63
DGRW Calmar Ratio Rank: 50
DGRW Martin Ratio Rank: 61

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.

DON vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US MidCap Dividend ETF (DON) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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.

	DON	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.12	-1.01
Sortino ratio: Return per unit of downside risk	1.71	3.09	-1.38
Omega ratio: Gain probability vs. loss probability	1.19	1.39	-0.20
Calmar ratio: Return relative to maximum drawdown	1.58	2.52	-0.94
Martin ratio: Return relative to average drawdown	4.93	11.03	-6.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DON vs. DGRW - Sharpe Ratio Comparison

The current DON Sharpe Ratio is 1.10, which is lower than the DGRW Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of DON and DGRW, 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

	DON	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	2.12	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.88	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.88	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.86	-0.43

Drawdowns

DON vs. DGRW - Drawdown Comparison

The maximum DON drawdown since its inception was -61.94%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for DON and DGRW.

Drawdown Indicators

	DON	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-32.04%	-29.90%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-8.30%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-16.21%	-5.25%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-17.27%	-4.19%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-32.04%	-14.76%
Current Drawdown Current decline from peak	-1.93%	-0.83%	-1.10%
Average Drawdown Average peak-to-trough decline	-7.90%	-3.01%	-4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	1.89%	+1.01%

Volatility

DON vs. DGRW - Volatility Comparison

WisdomTree US MidCap Dividend ETF (DON) has a higher volatility of 3.06% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 2.47%. This indicates that DON's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DON	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.47%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	7.64%	+1.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.97%	9.88%	+3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.77%	13.97%	+3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.26%	16.21%	+4.05%

DON vs. DGRW - Expense Ratio Comparison

DON has a 0.38% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

DON vs. DGRW - Dividend Comparison

DON's dividend yield for the trailing twelve months is around 2.36%, more than DGRW's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
DON WisdomTree US MidCap Dividend ETF	2.36%	2.53%	2.27%	2.41%	2.71%	2.12%	2.77%	2.38%	2.55%	2.25%	2.48%	2.89%

Frequently Asked Questions

Can I hold both DON and DGRW in my portfolio?

DON and DGRW have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DON or DGRW?

DON has higher volatility (3.06%) compared to DGRW (2.47%). In terms of maximum drawdown, DON dropped -61.94% vs DGRW's -32.04%.

Which ETF is better, DON or DGRW?

On 10-year performance, DGRW leads with 14.15% vs 9.16% for DON. On fees, DGRW is cheaper at 0.28% per year. On volatility, DGRW has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DON or DGRW?

Over the 10-year period, DGRW has performed better with a 14.15% return vs 9.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DON or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.38% for DON.

Which ETF pays a higher dividend yield, DON or DGRW?

DON has the higher dividend yield at 2.36%, compared with 1.27% for DGRW.

What is the main difference between DON and DGRW?

DON is categorized as Mid Cap Value Equities, while DGRW is Dividend. DON tracks WisdomTree U.S. MidCap Dividend Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. Their fees differ too: 0.38% for DON and 0.28% for DGRW.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (2.12 vs 1.10), 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.