DON vs. NIXT

Last updated Aug 4, 2026

DON (WisdomTree US MidCap Dividend ETF) and NIXT (Research Affiliates Deletions ETF) are both Mid Cap Value Equities funds - DON tracks the WisdomTree U.S. MidCap Dividend Index while NIXT tracks the Research Affiliates Deletions Index. Both are passively managed. Over the past year, DON returned 18.81% vs 42.33% for NIXT. Their correlation of 0.82 means they have usually moved in the same direction. DON charges 0.38%/yr vs 0.09%/yr for NIXT.

Performance

DON vs. NIXT - Performance Comparison

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

Returns By Period

In the year-to-date period, DON achieves a 13.72% return, which is significantly lower than NIXT's 29.37% return.

DON

• 1D: 0.80%
• 1M: 2.34%
• 6M: 9.10%
• YTD: 13.72%
• 1Y: 18.81%
• 3Y*: 12.64%
• 5Y*: 9.70%
• 10Y*: 9.40%
• ALL TIME*: 9.38%

NIXT

• 1D: 2.41%
• 1M: 2.99%
• 6M: 23.66%
• YTD: 29.37%
• 1Y: 42.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DON WisdomTree US MidCap Dividend ETF	$5.17M	$5.33M	$5.85M
NIXT Research Affiliates Deletions ETF	$87.68K	$73.92K	$68.31K

DON vs. NIXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DON WisdomTree US MidCap Dividend ETF	13.72%	3.86%	6.05%
NIXT Research Affiliates Deletions ETF	29.37%	4.94%	4.60%

Correlation

The correlation between DON and NIXT is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.82

The correlation between DON and NIXT has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

Return for Risk

DON vs. NIXT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DON

DON Risk / Return Rank: 59
DON Sharpe Ratio Rank: 61
DON Sortino Ratio Rank: 67
DON Omega Ratio Rank: 58
DON Calmar Ratio Rank: 56
DON Martin Ratio Rank: 55

NIXT

NIXT Risk / Return Rank: 84
NIXT Sharpe Ratio Rank: 83
NIXT Sortino Ratio Rank: 84
NIXT Omega Ratio Rank: 76
NIXT Calmar Ratio Rank: 87
NIXT Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DON vs. NIXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US MidCap Dividend ETF (DON) and Research Affiliates Deletions ETF (NIXT). 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.

	DON	NIXT	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.04	-0.55
Sortino ratio: Return per unit of downside risk	2.27	2.92	-0.65
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.09	3.63	-1.54
Martin ratio: Return relative to average drawdown	6.59	14.20	-7.61

DON vs. NIXT - Sharpe Ratio Comparison

The current DON Sharpe Ratio is 1.49, which is comparable to the NIXT Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of DON and NIXT, 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

DON vs. NIXT - Drawdown Comparison

The maximum DON drawdown since its inception was -61.94%, which is greater than NIXT's maximum drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for DON and NIXT.

Drawdown Indicators

	DON	NIXT	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-27.75%	-34.19%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-11.71%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	—	—
Current Drawdown Current decline from peak	-0.48%	0.00%	-0.48%
Average Drawdown Average peak-to-trough decline	-7.84%	-5.55%	-2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.99%	-0.13%

Volatility

DON vs. NIXT - Volatility Comparison

The current volatility for WisdomTree US MidCap Dividend ETF (DON) is 3.20%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 5.74%. This indicates that DON experiences smaller price fluctuations and is considered to be less risky than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DON	NIXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	5.74%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	8.69%	14.75%	-6.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	20.85%	-8.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.56%	23.01%	-5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.22%	23.01%	-2.79%

DON vs. NIXT - Expense Ratio Comparison

DON has a 0.38% expense ratio, which is higher than NIXT's 0.09% expense ratio.

Dividends

DON vs. NIXT - Dividend Comparison

DON's dividend yield for the trailing twelve months is around 2.28%, more than NIXT's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DON WisdomTree US MidCap Dividend ETF	2.28%	2.53%	2.27%	2.41%	2.71%	2.12%	2.77%	2.38%	2.55%	2.25%	2.48%	2.89%
NIXT Research Affiliates Deletions ETF	1.27%	1.64%	1.39%	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 DON and NIXT in my portfolio?

DON and NIXT have a correlation of 0.77, 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 NIXT?

NIXT has higher volatility (5.74%) compared to DON (3.20%). In terms of maximum drawdown, DON dropped -61.94% vs NIXT's -27.75%.

Which ETF is better, DON or NIXT?

On 1-year performance, NIXT leads with 42.33% vs 18.81% for DON. On fees, NIXT is cheaper at 0.09% per year. On volatility, DON has been the lower-risk option at 3.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DON or NIXT?

Over the 1-year period, NIXT has performed better with a 42.33% return vs 18.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DON or NIXT?

NIXT is cheaper with a 0.09% expense ratio, compared with 0.38% for DON.

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

DON has the higher dividend yield at 2.28%, compared with 1.27% for NIXT.

What is the main difference between DON and NIXT?

DON tracks WisdomTree U.S. MidCap Dividend Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: WisdomTree and Alpha Architect. Their fees differ too: 0.38% for DON and 0.09% for NIXT.

Which has better risk-adjusted returns?

NIXT currently has the higher Sharpe Ratio (2.04 vs 1.49), 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.