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DON vs. DHS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DON vs. DHS

Last updated Jun 4, 2026

DON (WisdomTree US MidCap Dividend ETF) and DHS (WisdomTree US High Dividend Fund) are both exchange-traded funds - DON is a Mid Cap Value Equities fund tracking the WisdomTree U.S. MidCap Dividend Index, while DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index. Both are passively managed. Over the past 10 years, DON returned 9.16%/yr vs 9.47%/yr for DHS. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.38% expense ratio.

Performance

DON vs. DHS - Performance Comparison

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

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Returns By Period

In the year-to-date period, DON achieves a 7.24% return, which is significantly lower than DHS's 9.88% return. Both investments have delivered pretty close results over the past 10 years, with DON having a 9.16% annualized return and DHS not far ahead at 9.47%.

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%

DHS

1D
-0.67%
1M
-0.16%
YTD
9.88%
6M
10.38%
1Y
20.55%
3Y*
16.39%
5Y*
10.59%
10Y*
9.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DON vs. DHS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
DHS
WisdomTree US High Dividend Fund		9.88%12.87%18.02%-0.19%7.97%23.20%-5.70%22.59%-7.41%11.69%

Correlation

The correlation between DON and DHS is 0.79, 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

0.79

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

0.84

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

0.85

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

0.86

Correlation (All Time)
Calculated using the full available price history since Jun 19, 2006

0.87

The correlation between DON and DHS has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

DON vs. DHS - Sectors Allocation Comparison

Sectors
DON
DHS

Financial Services

21.1%
22.3%

Industrials

17.1%
4.1%

Consumer Cyclical

11.5%
5.0%

Real Estate

9.3%
2.8%

Energy

7.9%
9.4%

Utilities

6.9%
9.0%

Basic Materials

6.4%
1.2%

Technology

4.5%
3.7%

Communication Services

3.9%
9.3%

Consumer Defensive

3.6%
18.7%

Healthcare

2.4%
14.5%

Financial Services

DON
21.1%
DHS
22.3%

Industrials

DON
17.1%
DHS
4.1%

Consumer Cyclical

DON
11.5%
DHS
5.0%

Real Estate

DON
9.3%
DHS
2.8%

Energy

DON
7.9%
DHS
9.4%

Utilities

DON
6.9%
DHS
9.0%

Basic Materials

DON
6.4%
DHS
1.2%

Technology

DON
4.5%
DHS
3.7%

Communication Services

DON
3.9%
DHS
9.3%

Consumer Defensive

DON
3.6%
DHS
18.7%

Healthcare

DON
2.4%
DHS
14.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree US MidCap Dividend ETF

WisdomTree US High Dividend Fund

Often compared with DON:
DON vs. SCHDDON vs. FLPSXDON vs. PEXLDON vs. VODON vs. VOEDON vs. DIVODON vs. SOPAX
Often compared with DHS:
DHS vs. SCHDDHS vs. SPHDDHS vs. DGRODHS vs. JEPIDHS vs. FDVVDHS vs. DTDDHS vs. SPY

Return for Risk

DON vs. DHS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DON
DON Risk / Return Rank: 3131
Overall Rank
DON Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
DON Sortino Ratio Rank: 3131
Sortino Ratio Rank
DON Omega Ratio Rank: 2727
Omega Ratio Rank
DON Calmar Ratio Rank: 3131
Calmar Ratio Rank
DON Martin Ratio Rank: 3232
Martin Ratio Rank
DHS
DHS Risk / Return Rank: 6262
Overall Rank
DHS Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
DHS Sortino Ratio Rank: 6666
Sortino Ratio Rank
DHS Omega Ratio Rank: 5757
Omega Ratio Rank
DHS Calmar Ratio Rank: 6565
Calmar Ratio Rank
DHS Martin Ratio Rank: 6565
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.

DON vs. DHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US MidCap Dividend ETF (DON) and WisdomTree US High Dividend Fund (DHS). 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.

DONDHSDifference
Sharpe ratioReturn per unit of total volatility
1.10
2.06

-0.96

Sortino ratioReturn per unit of downside risk
1.71
3.09

-1.39

Omega ratioGain probability vs. loss probability

1.19

1.35

-0.16

Calmar ratioReturn relative to maximum drawdown

1.58

3.28

-1.70

Martin ratioReturn relative to average drawdown

4.93

12.04

-7.12

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. DHS - Sharpe Ratio Comparison

The current DON Sharpe Ratio is 1.10, which is lower than the DHS Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of DON and DHS, 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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Sharpe Ratios by Period

DONDHSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.10

2.06

-0.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

0.77

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.59

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.41

+0.02

Drawdowns

DON vs. DHS - Drawdown Comparison

The maximum DON drawdown since its inception was -61.94%, smaller than the maximum DHS drawdown of -67.25%. Use the drawdown chart below to compare losses from any high point for DON and DHS.

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Drawdown Indicators

DONDHSDifference

Max Drawdown

Largest peak-to-trough decline

-61.94%

-67.25%

+5.31%

Max Drawdown (1Y)

Largest decline over 1 year

-9.05%

-6.30%

-2.75%

Max Drawdown (3Y)

Largest decline over 3 years

-21.46%

-11.87%

-9.59%

Max Drawdown (5Y)

Largest decline over 5 years

-21.46%

-15.28%

-6.18%

Max Drawdown (10Y)

Largest decline over 10 years

-46.80%

-37.35%

-9.45%

Current Drawdown

Current decline from peak

-1.93%

-2.60%

+0.67%

Average Drawdown

Average peak-to-trough decline

-7.90%

-9.55%

+1.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.90%

1.71%

+1.19%

Volatility

DON vs. DHS - Volatility Comparison

WisdomTree US MidCap Dividend ETF (DON) has a higher volatility of 3.06% compared to WisdomTree US High Dividend Fund (DHS) at 2.88%. This indicates that DON's price experiences larger fluctuations and is considered to be riskier than DHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DONDHSDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.06%

2.88%

+0.18%

Volatility (6M)

Calculated over the trailing 6-month period

8.87%

7.32%

+1.55%

Volatility (1Y)

Calculated over the trailing 1-year period

12.97%

10.01%

+2.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.77%

13.89%

+3.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.26%

16.08%

+4.18%

DON vs. DHS - Expense Ratio Comparison

Both DON and DHS have an expense ratio of 0.38%.

Dividends

DON vs. DHS - Dividend Comparison

DON's dividend yield for the trailing twelve months is around 2.36%, less than DHS's 3.35% yield.

PositionTTM20252024202320222021202020192018201720162015
DHS
WisdomTree US High Dividend Fund		3.35%3.32%3.66%4.31%3.42%3.29%4.14%3.69%3.76%3.00%3.25%3.53%
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

DON and DHS have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DON has higher volatility (3.06%) compared to DHS (2.88%). In terms of maximum drawdown, DON dropped -61.94% vs DHS's -67.25%.

On 10-year performance, DHS leads with 9.47% vs 9.16% for DON. Both ETFs have the same 0.38% expense ratio. On volatility, DHS has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DHS has performed better with a 9.47% return vs 9.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DON and DHS have the same expense ratio: 0.38% per year.

DHS has the higher dividend yield at 3.35%, compared with 2.36% for DON.

DON is categorized as Mid Cap Value Equities, while DHS is Large Cap Value Equities. DON tracks WisdomTree U.S. MidCap Dividend Index, while DHS tracks WisdomTree U.S. High Dividend Index.

DHS currently has the higher Sharpe Ratio (2.06 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.

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