DON vs. VYM

Last updated Jun 4, 2026

DON (WisdomTree US MidCap Dividend ETF) and VYM (Vanguard High Dividend Yield ETF) are both exchange-traded funds - DON is a Mid Cap Value Equities fund tracking the WisdomTree U.S. MidCap Dividend Index, while VYM is a Dividend fund tracking the FTSE High Dividend Yield Index. Both are passively managed. Over the past 10 years, DON returned 9.16%/yr vs 11.90%/yr for VYM. Their correlation of 0.90 suggests significant overlap in exposure. DON charges 0.38%/yr vs 0.04%/yr for VYM.

Performance

DON vs. VYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree US MidCap Dividend ETF (DON) and Vanguard High Dividend Yield ETF (VYM). 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 VYM's 12.47% return. Over the past 10 years, DON has underperformed VYM with an annualized return of 9.16%, while VYM has yielded a comparatively higher 11.90% 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%

VYM

• 1D: -0.43%
• 1M: 3.38%
• YTD: 12.47%
• 6M: 12.01%
• 1Y: 26.16%
• 3Y*: 18.88%
• 5Y*: 11.48%
• 10Y*: 11.90%

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

DON vs. VYM - 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%
VYM Vanguard High Dividend Yield ETF	12.47%	15.42%	17.60%	6.57%	-0.43%	26.20%	1.15%	24.06%	-5.92%	16.42%

Correlation

The correlation between DON and VYM is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 17, 2006	0.90

The correlation between DON and VYM has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

DON vs. VYM - Sectors Allocation Comparison

Sectors	DON	VYM
Financial Services	21.1%	20.5%
Industrials	17.1%	12.1%
Consumer Cyclical	11.5%	6.7%
Real Estate	9.3%	0.0%
Energy	7.9%	9.8%
Utilities	6.9%	5.7%
Basic Materials	6.4%	3.5%
Technology	4.5%	17.7%
Communication Services	3.9%	3.5%
Consumer Defensive	3.6%	8.1%
Healthcare	2.4%	12.2%

Return for Risk

DON vs. VYM — 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

VYM

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

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. VYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US MidCap Dividend ETF (DON) and Vanguard High Dividend Yield ETF (VYM). 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	VYM	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.56	-1.46
Sortino ratio: Return per unit of downside risk	1.71	3.65	-1.94
Omega ratio: Gain probability vs. loss probability	1.19	1.46	-0.27
Calmar ratio: Return relative to maximum drawdown	1.58	3.93	-2.35
Martin ratio: Return relative to average drawdown	4.93	14.76	-9.83
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. VYM - Sharpe Ratio Comparison

The current DON Sharpe Ratio is 1.10, which is lower than the VYM Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of DON and VYM, 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	VYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	2.56	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.83	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.73	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.51	-0.09

Drawdowns

DON vs. VYM - Drawdown Comparison

The maximum DON drawdown since its inception was -61.94%, which is greater than VYM's maximum drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for DON and VYM.

Drawdown Indicators

	DON	VYM	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-56.98%	-4.96%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-6.69%	-2.36%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-14.46%	-7.00%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-15.84%	-5.62%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-35.21%	-11.59%
Current Drawdown Current decline from peak	-1.93%	-0.43%	-1.50%
Average Drawdown Average peak-to-trough decline	-7.90%	-7.19%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	1.78%	+1.12%

Volatility

DON vs. VYM - Volatility Comparison

WisdomTree US MidCap Dividend ETF (DON) has a higher volatility of 3.06% compared to Vanguard High Dividend Yield ETF (VYM) at 2.77%. This indicates that DON's price experiences larger fluctuations and is considered to be riskier than VYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DON	VYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.77%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	7.67%	+1.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.97%	10.28%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.77%	13.96%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.26%	16.34%	+3.92%

DON vs. VYM - Expense Ratio Comparison

DON has a 0.38% expense ratio, which is higher than VYM's 0.04% expense ratio.

Dividends

DON vs. VYM - Dividend Comparison

DON's dividend yield for the trailing twelve months is around 2.36%, more than VYM's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VYM Vanguard High Dividend Yield ETF	2.19%	2.44%	2.74%	3.12%	3.01%	2.76%	3.18%	3.03%	3.40%	2.80%	2.91%	3.22%

Frequently Asked Questions

Can I hold both DON and VYM in my portfolio?

DON and VYM have a correlation of 0.85, 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 VYM?

DON has higher volatility (3.06%) compared to VYM (2.77%). In terms of maximum drawdown, DON dropped -61.94% vs VYM's -56.98%.

Which ETF is better, DON or VYM?

On 10-year performance, VYM leads with 11.90% vs 9.16% for DON. On fees, VYM is cheaper at 0.04% per year. On volatility, VYM has been the lower-risk option at 2.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DON or VYM?

Over the 10-year period, VYM has performed better with a 11.90% 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 VYM?

VYM is cheaper with a 0.04% expense ratio, compared with 0.38% for DON.

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

DON has the higher dividend yield at 2.36%, compared with 2.19% for VYM.

What is the main difference between DON and VYM?

DON is categorized as Mid Cap Value Equities, while VYM is Dividend. DON tracks WisdomTree U.S. MidCap Dividend Index, while VYM tracks FTSE High Dividend Yield Index. They also come from different issuers: WisdomTree and Vanguard. Their fees differ too: 0.38% for DON and 0.04% for VYM.

Which has better risk-adjusted returns?

VYM currently has the higher Sharpe Ratio (2.56 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.