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FDVV vs. DES
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDVV vs. DES

Last updated Jun 23, 2026

FDVV (Fidelity High Dividend ETF) and DES (WisdomTree U.S. SmallCap Dividend Fund) are both exchange-traded funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index, while DES is a Small Cap Blend Equities fund tracking the WisdomTree SmallCap Dividend (TR). Both are passively managed. Over the past 5 years, FDVV returned 13.81%/yr vs 7.29%/yr for DES. Their correlation of 0.82 suggests significant overlap in exposure. FDVV charges 0.29%/yr vs 0.38%/yr for DES.

Performance

FDVV vs. DES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity High Dividend ETF (FDVV) and WisdomTree U.S. SmallCap Dividend Fund (DES). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FDVV achieves a 8.30% return, which is significantly lower than DES's 18.52% return.

FDVV

1D
-0.33%
1M
0.35%
YTD
8.30%
6M
8.41%
1Y
22.58%
3Y*
19.87%
5Y*
13.81%
10Y*
—

DES

1D
-0.13%
1M
2.56%
YTD
18.52%
6M
16.64%
1Y
30.08%
3Y*
15.54%
5Y*
7.29%
10Y*
8.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FDVV vs. DES - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FDVV
Fidelity High Dividend ETF		8.30%17.08%21.81%18.00%-4.21%29.24%2.80%24.07%-1.26%14.00%
DES
WisdomTree U.S. SmallCap Dividend Fund		18.52%0.25%9.93%16.50%-10.96%26.51%-4.26%20.26%-12.85%8.64%

Correlation

The correlation between FDVV and DES is 0.70, 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

0.70

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

0.76

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

0.81

Correlation (All Time)
Calculated using the full available price history since Sep 15, 2016

0.82

The correlation between FDVV and DES shifts across timeframes, from 0.70 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

FDVV vs. DES - Sectors Allocation Comparison

Sectors
FDVV
DES

Technology

30.5%
6.0%

Financial Services

17.0%
24.8%

Consumer Cyclical

13.6%
16.0%

Consumer Defensive

10.7%
4.1%

Real Estate

9.9%
10.1%

Utilities

8.6%
4.2%

Communication Services

3.6%
2.8%

Healthcare

3.0%
2.0%

Industrials

3.0%
13.4%

Basic Materials

-

6.3%

Energy

-

10.2%

Technology

FDVV
30.5%
DES
6.0%

Financial Services

FDVV
17.0%
DES
24.8%

Consumer Cyclical

FDVV
13.6%
DES
16.0%

Consumer Defensive

FDVV
10.7%
DES
4.1%

Real Estate

FDVV
9.9%
DES
10.1%

Utilities

FDVV
8.6%
DES
4.2%

Communication Services

FDVV
3.6%
DES
2.8%

Healthcare

FDVV
3.0%
DES
2.0%

Industrials

FDVV
3.0%
DES
13.4%

Basic Materials

FDVV

-

DES
6.3%

Energy

FDVV

-

DES
10.2%

Compare stocks, funds, or ETFs

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

Fidelity High Dividend ETF

WisdomTree U.S. SmallCap Dividend Fund

Often compared with FDVV:
FDVV vs. SCHDFDVV vs. VYMFDVV vs. VOOFDVV vs. SPYDFDVV vs. FDRRFDVV vs. FGRIXFDVV vs. FDL
Often compared with DES:
DES vs. AVUVDES vs. EESDES vs. IWNDES vs. SCHDDES vs. VBRDES vs. VXUSDES vs. RWJ

Return for Risk

FDVV vs. DES — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FDVV
FDVV Risk / Return Rank: 6565
Overall Rank
FDVV Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
FDVV Sortino Ratio Rank: 7272
Sortino Ratio Rank
FDVV Omega Ratio Rank: 7373
Omega Ratio Rank
FDVV Calmar Ratio Rank: 5151
Calmar Ratio Rank
FDVV Martin Ratio Rank: 5959
Martin Ratio Rank
DES
DES Risk / Return Rank: 6262
Overall Rank
DES Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
DES Sortino Ratio Rank: 6060
Sortino Ratio Rank
DES Omega Ratio Rank: 5353
Omega Ratio Rank
DES Calmar Ratio Rank: 7979
Calmar Ratio Rank
DES Martin Ratio Rank: 6464
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.

FDVV vs. DES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) and WisdomTree U.S. SmallCap Dividend Fund (DES). 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.

FDVVDESDifference
Sharpe ratioReturn per unit of total volatility
2.23
1.84

+0.40

Sortino ratioReturn per unit of downside risk
3.12
2.73

+0.39

Omega ratioGain probability vs. loss probability

1.41

1.32

+0.09

Calmar ratioReturn relative to maximum drawdown

2.44

3.95

-1.51

Martin ratioReturn relative to average drawdown

10.09

11.33

-1.24

FDVV vs. DES - Sharpe Ratio Comparison

The current FDVV Sharpe Ratio is 2.23, which is comparable to the DES Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of FDVV and DES, 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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Drawdowns

FDVV vs. DES - Drawdown Comparison

The maximum FDVV drawdown since its inception was -40.25%, smaller than the maximum DES drawdown of -65.48%. Use the drawdown chart below to compare losses from any high point for FDVV and DES.

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Drawdown Indicators

FDVVDESDifference

Max Drawdown

Largest peak-to-trough decline

-40.25%

-65.48%

+25.23%

Max Drawdown (1Y)

Largest decline over 1 year

-9.30%

-7.64%

-1.66%

Max Drawdown (3Y)

Largest decline over 3 years

-15.90%

-25.16%

+9.26%

Max Drawdown (5Y)

Largest decline over 5 years

-20.18%

-25.16%

+4.98%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.65%

—

Current Drawdown

Current decline from peak

-1.39%

-1.62%

+0.23%

Average Drawdown

Average peak-to-trough decline

-3.79%

-9.66%

+5.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.24%

2.66%

-0.42%

Volatility

FDVV vs. DES - Volatility Comparison

The current volatility for Fidelity High Dividend ETF (FDVV) is 3.10%, while WisdomTree U.S. SmallCap Dividend Fund (DES) has a volatility of 3.92%. This indicates that FDVV experiences smaller price fluctuations and is considered to be less risky than DES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FDVVDESDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.10%

3.92%

-0.82%

Volatility (6M)

Calculated over the trailing 6-month period

8.26%

11.11%

-2.85%

Volatility (1Y)

Calculated over the trailing 1-year period

10.17%

16.48%

-6.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.73%

19.51%

-4.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

21.98%

-5.01%

FDVV vs. DES - Expense Ratio Comparison

FDVV has a 0.29% expense ratio, which is lower than DES's 0.38% expense ratio.

Dividends

FDVV vs. DES - Dividend Comparison

FDVV's dividend yield for the trailing twelve months is around 2.86%, more than DES's 2.33% yield.

PositionTTM20252024202320222021202020192018201720162015
DES
WisdomTree U.S. SmallCap Dividend Fund		2.33%2.85%2.81%2.65%2.89%2.31%2.75%2.68%3.65%2.89%2.70%3.09%
FDVV
Fidelity High Dividend ETF		2.86%2.89%2.94%3.77%3.44%2.70%3.19%3.93%4.05%3.66%1.04%0.00%

Frequently Asked Questions

FDVV and DES have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DES has higher volatility (3.92%) compared to FDVV (3.10%). In terms of maximum drawdown, FDVV dropped -40.25% vs DES's -65.48%.

On 5-year performance, FDVV leads with 13.81% vs 7.29% for DES. On fees, FDVV is cheaper at 0.29% per year. On volatility, FDVV has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FDVV has performed better with a 13.81% return vs 7.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FDVV is cheaper with a 0.29% expense ratio, compared with 0.38% for DES.

FDVV has the higher dividend yield at 2.86%, compared with 2.33% for DES.

FDVV is categorized as Large Cap Blend Equities, while DES is Small Cap Blend Equities. FDVV tracks Fidelity Core Dividend Index, while DES tracks WisdomTree SmallCap Dividend (TR). They also come from different issuers: Fidelity and WisdomTree. Their fees differ too: 0.29% for FDVV and 0.38% for DES.

FDVV currently has the higher Sharpe Ratio (2.23 vs 1.84), 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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