DWMF vs. VEU

Last updated Jun 3, 2026

DWMF (WisdomTree International Multifactor Fund) and VEU (Vanguard FTSE All-World ex-US ETF) are both Foreign Large Cap Equities funds. DWMF is actively managed, while VEU is passively managed. Over the past 5 years, DWMF returned 8.42%/yr vs 9.10%/yr for VEU. Their correlation of 0.83 suggests significant overlap in exposure. DWMF charges 0.38%/yr vs 0.04%/yr for VEU.

Performance

DWMF vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International Multifactor Fund (DWMF) and Vanguard FTSE All-World ex-US ETF (VEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWMF achieves a 2.60% return, which is significantly lower than VEU's 15.73% return.

DWMF

• 1D: 0.05%
• 1M: -1.25%
• YTD: 2.60%
• 6M: 3.53%
• 1Y: 7.67%
• 3Y*: 13.33%
• 5Y*: 8.42%
• 10Y*: —

VEU

• 1D: 0.73%
• 1M: 5.19%
• YTD: 15.73%
• 6M: 18.94%
• 1Y: 33.06%
• 3Y*: 20.01%
• 5Y*: 9.10%
• 10Y*: 10.05%

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

DWMF vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DWMF WisdomTree International Multifactor Fund	2.60%	24.42%	10.22%	10.78%	-7.31%	11.24%	-1.18%	16.10%	-7.30%
VEU Vanguard FTSE All-World ex-US ETF	15.73%	32.35%	5.56%	15.84%	-15.58%	8.27%	11.10%	21.83%	-10.53%

Correlation

The correlation between DWMF and VEU is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 13, 2018	0.83

The correlation between DWMF and VEU has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

DWMF vs. VEU - Sectors Allocation Comparison

Sectors	DWMF	VEU
Financial Services	20.0%	23.3%
Industrials	18.9%	15.7%
Consumer Defensive	11.5%	5.1%
Communication Services	9.5%	4.6%
Utilities	9.2%	3.2%
Healthcare	9.0%	7.1%
Real Estate	6.7%	2.0%
Consumer Cyclical	5.5%	8.2%
Technology	4.0%	18.5%
Basic Materials	3.7%	7.1%
Energy	2.0%	5.2%

Return for Risk

DWMF vs. VEU — Risk / Return Rank

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

DWMF

DWMF Risk / Return Rank: 21
DWMF Sharpe Ratio Rank: 21
DWMF Sortino Ratio Rank: 20
DWMF Omega Ratio Rank: 20
DWMF Calmar Ratio Rank: 22
DWMF Martin Ratio Rank: 23

VEU

VEU Risk / Return Rank: 64
VEU Sharpe Ratio Rank: 65
VEU Sortino Ratio Rank: 64
VEU Omega Ratio Rank: 65
VEU Calmar Ratio Rank: 60
VEU Martin Ratio Rank: 64

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.

DWMF vs. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International Multifactor Fund (DWMF) and Vanguard FTSE All-World ex-US ETF (VEU). 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.

	DWMF	VEU	Difference
Sharpe ratio Return per unit of total volatility	0.70	2.18	-1.48
Sortino ratio Return per unit of downside risk	1.05	3.00	-1.95
Omega ratio Gain probability vs. loss probability	1.13	1.40	-0.27
Calmar ratio Return relative to maximum drawdown	1.01	3.01	-2.00
Martin ratio Return relative to average drawdown	3.00	11.72	-8.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DWMF vs. VEU - Sharpe Ratio Comparison

The current DWMF Sharpe Ratio is 0.70, which is lower than the VEU Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of DWMF and VEU, 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

	DWMF	VEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	2.18	-1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.57	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.26	+0.25

Drawdowns

DWMF vs. VEU - Drawdown Comparison

The maximum DWMF drawdown since its inception was -29.72%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for DWMF and VEU.

Drawdown Indicators

	DWMF	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-29.72%	-61.52%	+31.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-11.43%	+2.69%
Max Drawdown (3Y) Largest decline over 3 years	-8.74%	-13.69%	+4.95%
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	-29.31%	+12.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	-6.46%	0.00%	-6.46%
Average Drawdown Average peak-to-trough decline	-3.90%	-13.14%	+9.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	2.93%	+0.01%

Volatility

DWMF vs. VEU - Volatility Comparison

The current volatility for WisdomTree International Multifactor Fund (DWMF) is 3.44%, while Vanguard FTSE All-World ex-US ETF (VEU) has a volatility of 5.57%. This indicates that DWMF experiences smaller price fluctuations and is considered to be less risky than VEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWMF	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	5.57%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	8.72%	13.01%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.04%	15.28%	-4.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.23%	16.07%	-4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.11%	17.21%	-3.10%

DWMF vs. VEU - Expense Ratio Comparison

DWMF has a 0.38% expense ratio, which is higher than VEU's 0.04% expense ratio.

Dividends

DWMF vs. VEU - Dividend Comparison

DWMF's dividend yield for the trailing twelve months is around 2.90%, more than VEU's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWMF WisdomTree International Multifactor Fund	2.90%	2.80%	3.50%	4.01%	3.41%	3.54%	2.06%	2.77%	1.15%	0.00%	0.00%	0.00%
VEU Vanguard FTSE All-World ex-US ETF	2.58%	3.09%	3.24%	3.32%	3.12%	3.08%	2.00%	3.10%	3.27%	2.66%	2.96%	2.95%

Frequently Asked Questions

Can I hold both DWMF and VEU in my portfolio?

DWMF and VEU have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DWMF or VEU?

VEU has higher volatility (5.57%) compared to DWMF (3.44%). In terms of maximum drawdown, DWMF dropped -29.72% vs VEU's -61.52%.

Which ETF is better, DWMF or VEU?

On 5-year performance, VEU leads with 9.10% vs 8.42% for DWMF. On fees, VEU is cheaper at 0.04% per year. On volatility, DWMF has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWMF or VEU?

Over the 5-year period, VEU has performed better with a 9.10% return vs 8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWMF or VEU?

VEU is cheaper with a 0.04% expense ratio, compared with 0.38% for DWMF.

Which ETF pays a higher dividend yield, DWMF or VEU?

DWMF has the higher dividend yield at 2.90%, compared with 2.58% for VEU.

What is the main difference between DWMF and VEU?

They also come from different issuers: WisdomTree and Vanguard. Their fees differ too: 0.38% for DWMF and 0.04% for VEU.

Which has better risk-adjusted returns?

VEU currently has the higher Sharpe Ratio (2.18 vs 0.70), 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.