DON vs. SOPAX

Last updated Jun 23, 2026

DON (WisdomTree US MidCap Dividend ETF) and SOPAX (ClearBridge Dividend Strategy Fund) are both funds - DON is a Mid Cap Value Equities fund tracking the WisdomTree U.S. MidCap Dividend Index, while SOPAX is a Large Cap Blend Equities fund managed by Franklin Templeton. Over the past 10 years, DON returned 9.55%/yr vs 12.12%/yr for SOPAX. Their correlation of 0.86 suggests significant overlap in exposure. DON charges 0.38%/yr vs 1.02%/yr for SOPAX.

Performance

DON vs. SOPAX - Performance Comparison

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

Returns By Period

In the year-to-date period, DON achieves a 9.31% return, which is significantly higher than SOPAX's 6.14% return. Over the past 10 years, DON has underperformed SOPAX with an annualized return of 9.55%, while SOPAX has yielded a comparatively higher 12.12% annualized return.

DON

• 1D: 0.20%
• 1M: 1.49%
• YTD: 9.31%
• 6M: 7.61%
• 1Y: 16.47%
• 3Y*: 14.15%
• 5Y*: 8.80%
• 10Y*: 9.55%

SOPAX

• 1D: 0.39%
• 1M: -0.45%
• YTD: 6.14%
• 6M: 6.11%
• 1Y: 15.89%
• 3Y*: 13.90%
• 5Y*: 10.73%
• 10Y*: 12.12%

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

DON vs. SOPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DON WisdomTree US MidCap Dividend ETF	9.31%	3.86%	14.20%	14.04%	-4.72%	30.29%	-5.40%	23.31%	-8.26%	14.86%
SOPAX ClearBridge Dividend Strategy Fund	6.14%	12.27%	16.77%	14.13%	-8.41%	26.36%	7.62%	30.97%	-5.18%	18.58%

Correlation

The correlation between DON and SOPAX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 16, 2006	0.86

The correlation between DON and SOPAX has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

Return for Risk

DON vs. SOPAX — Risk / Return Rank

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

DON

DON Risk / Return Rank: 37
DON Sharpe Ratio Rank: 36
DON Sortino Ratio Rank: 38
DON Omega Ratio Rank: 34
DON Calmar Ratio Rank: 37
DON Martin Ratio Rank: 38

SOPAX

SOPAX Risk / Return Rank: 36
SOPAX Sharpe Ratio Rank: 38
SOPAX Sortino Ratio Rank: 39
SOPAX Omega Ratio Rank: 35
SOPAX Calmar Ratio Rank: 31
SOPAX Martin Ratio Rank: 38

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. SOPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US MidCap Dividend ETF (DON) and ClearBridge Dividend Strategy Fund (SOPAX). 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	SOPAX	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.67	-0.41
Sortino ratio: Return per unit of downside risk	1.94	2.39	-0.46
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	1.83	1.96	-0.14
Martin ratio: Return relative to average drawdown	5.69	7.83	-2.14

DON vs. SOPAX - Sharpe Ratio Comparison

The current DON Sharpe Ratio is 1.26, which is comparable to the SOPAX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of DON and SOPAX, 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. SOPAX - Drawdown Comparison

The maximum DON drawdown since its inception was -61.94%, which is greater than SOPAX's maximum drawdown of -46.78%. Use the drawdown chart below to compare losses from any high point for DON and SOPAX.

Drawdown Indicators

	DON	SOPAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-46.78%	-15.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-8.04%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-13.72%	-7.74%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-19.31%	-2.15%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-34.72%	-12.08%
Current Drawdown Current decline from peak	-1.18%	-0.87%	-0.31%
Average Drawdown Average peak-to-trough decline	-7.88%	-4.88%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	2.01%	+0.89%

Volatility

DON vs. SOPAX - Volatility Comparison

WisdomTree US MidCap Dividend ETF (DON) has a higher volatility of 3.37% compared to ClearBridge Dividend Strategy Fund (SOPAX) at 2.67%. This indicates that DON's price experiences larger fluctuations and is considered to be riskier than SOPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DON	SOPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	2.67%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	7.11%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	9.45%	+3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	14.25%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.27%	16.38%	+3.89%

DON vs. SOPAX - Expense Ratio Comparison

DON has a 0.38% expense ratio, which is lower than SOPAX's 1.02% expense ratio.

Dividends

DON vs. SOPAX - Dividend Comparison

DON's dividend yield for the trailing twelve months is around 2.32%, less than SOPAX's 12.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DON WisdomTree US MidCap Dividend ETF	2.32%	2.53%	2.27%	2.41%	2.71%	2.12%	2.77%	2.38%	2.55%	2.25%	2.48%	2.89%
SOPAX ClearBridge Dividend Strategy Fund	12.87%	13.65%	9.54%	9.20%	5.68%	9.93%	1.76%	7.32%	6.56%	6.75%	3.03%	1.53%

Frequently Asked Questions

Can I hold both DON and SOPAX in my portfolio?

DON and SOPAX have a correlation of 0.82, 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 SOPAX?

DON has higher volatility (3.37%) compared to SOPAX (2.67%). In terms of maximum drawdown, DON dropped -61.94% vs SOPAX's -46.78%.

Which has better risk-adjusted returns?

SOPAX currently has the higher Sharpe Ratio (1.67 vs 1.26), 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.