FDVV vs. DHS

Last updated Jun 4, 2026

FDVV (Fidelity High Dividend ETF) and DHS (WisdomTree US High Dividend Fund) are both exchange-traded funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index, while DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index. Both are passively managed. Over the past 5 years, FDVV returned 13.36%/yr vs 10.59%/yr for DHS. Their correlation of 0.85 suggests significant overlap in exposure. FDVV charges 0.29%/yr vs 0.38%/yr for DHS.

Performance

FDVV vs. DHS - Performance Comparison

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

Returns By Period

In the year-to-date period, FDVV achieves a 8.39% return, which is significantly lower than DHS's 9.88% return.

FDVV

• 1D: -1.12%
• 1M: 4.44%
• YTD: 8.39%
• 6M: 8.67%
• 1Y: 23.45%
• 3Y*: 20.08%
• 5Y*: 13.36%
• 10Y*: —

DHS

• 1D: -0.67%
• 1M: -0.16%
• YTD: 9.88%
• 6M: 10.38%
• 1Y: 20.55%
• 3Y*: 16.39%
• 5Y*: 10.59%
• 10Y*: 9.47%

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

FDVV vs. DHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDVV Fidelity High Dividend ETF	8.39%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%
DHS WisdomTree US High Dividend Fund	9.88%	12.87%	18.02%	-0.19%	7.97%	23.20%	-5.70%	22.59%	-7.41%	11.69%

Correlation

The correlation between FDVV and DHS is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.85

The correlation between FDVV and DHS shifts across timeframes, from 0.68 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

FDVV vs. DHS - Sectors Allocation Comparison

Sectors	FDVV	DHS
Technology	29.1%	3.7%
Financial Services	17.0%	22.3%
Consumer Cyclical	13.6%	5.0%
Consumer Defensive	11.0%	18.7%
Real Estate	10.1%	2.8%
Utilities	8.7%	9.0%
Communication Services	3.7%	9.3%
Industrials	3.4%	4.1%
Healthcare	3.1%	14.5%
Basic Materials	-	1.2%
Energy	-	9.4%

Return for Risk

FDVV vs. DHS — Risk / Return Rank

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

FDVV

FDVV Risk / Return Rank: 64
FDVV Sharpe Ratio Rank: 70
FDVV Sortino Ratio Rank: 71
FDVV Omega Ratio Rank: 71
FDVV Calmar Ratio Rank: 50
FDVV Martin Ratio Rank: 58

DHS

DHS Risk / Return Rank: 62
DHS Sharpe Ratio Rank: 60
DHS Sortino Ratio Rank: 66
DHS Omega Ratio Rank: 57
DHS Calmar Ratio Rank: 65
DHS Martin Ratio Rank: 65

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. DHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) and WisdomTree US High Dividend Fund (DHS). 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.

	FDVV	DHS	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.06	+0.29
Sortino ratio: Return per unit of downside risk	3.28	3.09	+0.19
Omega ratio: Gain probability vs. loss probability	1.43	1.35	+0.08
Calmar ratio: Return relative to maximum drawdown	2.53	3.28	-0.74
Martin ratio: Return relative to average drawdown	10.54	12.04	-1.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDVV vs. DHS - Sharpe Ratio Comparison

The current FDVV Sharpe Ratio is 2.35, which is comparable to the DHS Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of FDVV and DHS, 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

	FDVV	DHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.06	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.77	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.41	+0.39

Drawdowns

FDVV vs. DHS - Drawdown Comparison

The maximum FDVV drawdown since its inception was -40.25%, smaller than the maximum DHS drawdown of -67.25%. Use the drawdown chart below to compare losses from any high point for FDVV and DHS.

Drawdown Indicators

	FDVV	DHS	Difference
Max Drawdown Largest peak-to-trough decline	-40.25%	-67.25%	+27.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-6.30%	-3.00%
Max Drawdown (3Y) Largest decline over 3 years	-15.90%	-11.87%	-4.03%
Max Drawdown (5Y) Largest decline over 5 years	-20.18%	-15.28%	-4.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.35%	—
Current Drawdown Current decline from peak	-1.12%	-2.60%	+1.48%
Average Drawdown Average peak-to-trough decline	-3.81%	-9.55%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.71%	+0.52%

Volatility

FDVV vs. DHS - Volatility Comparison

Fidelity High Dividend ETF (FDVV) has a higher volatility of 3.14% compared to WisdomTree US High Dividend Fund (DHS) at 2.88%. This indicates that FDVV's price experiences larger fluctuations and is considered to be riskier than DHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDVV	DHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	2.88%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	7.32%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	10.06%	10.01%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.75%	13.89%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	16.08%	+0.92%

FDVV vs. DHS - Expense Ratio Comparison

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

Dividends

FDVV vs. DHS - Dividend Comparison

FDVV's dividend yield for the trailing twelve months is around 2.72%, less than DHS's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHS WisdomTree US High Dividend Fund	3.35%	3.32%	3.66%	4.31%	3.42%	3.29%	4.14%	3.69%	3.76%	3.00%	3.25%	3.53%
FDVV Fidelity High Dividend ETF	2.72%	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

Can I hold both FDVV and DHS in my portfolio?

FDVV and DHS have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDVV or DHS?

FDVV has higher volatility (3.14%) compared to DHS (2.88%). In terms of maximum drawdown, FDVV dropped -40.25% vs DHS's -67.25%.

Which ETF is better, FDVV or DHS?

On 5-year performance, FDVV leads with 13.36% vs 10.59% for DHS. On fees, FDVV is cheaper at 0.29% per year. On volatility, DHS has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDVV or DHS?

Over the 5-year period, FDVV has performed better with a 13.36% return vs 10.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDVV or DHS?

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

Which ETF pays a higher dividend yield, FDVV or DHS?

DHS has the higher dividend yield at 3.35%, compared with 2.72% for FDVV.

What is the main difference between FDVV and DHS?

FDVV is categorized as Large Cap Blend Equities, while DHS is Large Cap Value Equities. FDVV tracks Fidelity Core Dividend Index, while DHS tracks WisdomTree U.S. High Dividend Index. They also come from different issuers: Fidelity and WisdomTree. Their fees differ too: 0.29% for FDVV and 0.38% for DHS.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (2.35 vs 2.06), 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.