GAL vs. DFE

Last updated Jun 3, 2026

GAL (SPDR SSgA Global Allocation ETF) and DFE (WisdomTree Europe SmallCap Dividend Fund) are both exchange-traded funds - GAL is a Diversified Portfolio fund actively managed by State Street, while DFE is a Europe Equities fund tracking the WisdomTree Europe SmallCap Dividend Index. GAL is actively managed, while DFE is passively managed. Over the past 10 years, GAL returned 8.29%/yr vs 6.90%/yr for DFE. A 0.77 correlation means they provide meaningful diversification when combined. GAL charges 0.35%/yr vs 0.58%/yr for DFE.

Performance

GAL vs. DFE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSgA Global Allocation ETF (GAL) and WisdomTree Europe SmallCap Dividend Fund (DFE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAL achieves a 9.34% return, which is significantly higher than DFE's 6.34% return. Over the past 10 years, GAL has outperformed DFE with an annualized return of 8.29%, while DFE has yielded a comparatively lower 6.90% annualized return.

GAL

• 1D: 0.33%
• 1M: 2.71%
• YTD: 9.34%
• 6M: 10.25%
• 1Y: 20.95%
• 3Y*: 14.26%
• 5Y*: 7.27%
• 10Y*: 8.29%

DFE

• 1D: -0.35%
• 1M: 0.63%
• YTD: 6.34%
• 6M: 10.73%
• 1Y: 13.82%
• 3Y*: 14.86%
• 5Y*: 4.51%
• 10Y*: 6.90%

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

GAL vs. DFE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAL SPDR SSgA Global Allocation ETF	9.34%	15.95%	9.85%	13.32%	-13.41%	12.23%	9.33%	19.59%	-7.71%	18.67%
DFE WisdomTree Europe SmallCap Dividend Fund	6.34%	32.85%	-0.61%	14.94%	-22.15%	18.44%	2.15%	27.15%	-21.23%	32.71%

Correlation

The correlation between GAL and DFE is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Apr 27, 2012	0.77

The correlation between GAL and DFE has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.

GAL vs. DFE - Sectors Allocation Comparison

Sectors	GAL	DFE
Technology	27.2%	7.1%
Financial Services	15.8%	9.7%
Industrials	12.2%	25.3%
Consumer Cyclical	9.9%	9.5%
Healthcare	7.8%	3.5%
Communication Services	7.7%	5.5%
Basic Materials	5.0%	7.5%
Consumer Defensive	4.8%	4.3%
Energy	4.3%	6.9%
Real Estate	2.7%	6.3%
Utilities	2.6%	3.5%

Return for Risk

GAL vs. DFE — Risk / Return Rank

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

GAL

GAL Risk / Return Rank: 73
GAL Sharpe Ratio Rank: 73
GAL Sortino Ratio Rank: 75
GAL Omega Ratio Rank: 75
GAL Calmar Ratio Rank: 67
GAL Martin Ratio Rank: 75

DFE

DFE Risk / Return Rank: 27
DFE Sharpe Ratio Rank: 26
DFE Sortino Ratio Rank: 26
DFE Omega Ratio Rank: 25
DFE Calmar Ratio Rank: 27
DFE Martin Ratio Rank: 30

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.

GAL vs. DFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Global Allocation ETF (GAL) and WisdomTree Europe SmallCap Dividend Fund (DFE). 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.

	GAL	DFE	Difference
Sharpe ratio Return per unit of total volatility	2.42	0.95	+1.47
Sortino ratio Return per unit of downside risk	3.42	1.41	+2.01
Omega ratio Gain probability vs. loss probability	1.45	1.17	+0.28
Calmar ratio Return relative to maximum drawdown	3.38	1.35	+2.03
Martin ratio Return relative to average drawdown	14.50	4.66	+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.

GAL vs. DFE - Sharpe Ratio Comparison

The current GAL Sharpe Ratio is 2.42, which is higher than the DFE Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of GAL and DFE, 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

	GAL	DFE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	0.95	+1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.24	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.35	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.29	+0.41

Drawdowns

GAL vs. DFE - Drawdown Comparison

The maximum GAL drawdown since its inception was -28.31%, smaller than the maximum DFE drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for GAL and DFE.

Drawdown Indicators

	GAL	DFE	Difference
Max Drawdown Largest peak-to-trough decline	-28.31%	-69.38%	+41.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.27%	-11.41%	+5.14%
Max Drawdown (3Y) Largest decline over 3 years	-9.12%	-16.41%	+7.29%
Max Drawdown (5Y) Largest decline over 5 years	-21.14%	-40.34%	+19.20%
Max Drawdown (10Y) Largest decline over 10 years	-28.31%	-49.66%	+21.35%
Current Drawdown Current decline from peak	0.00%	-2.06%	+2.06%
Average Drawdown Average peak-to-trough decline	-3.74%	-17.74%	+14.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	3.31%	-1.85%

Volatility

GAL vs. DFE - Volatility Comparison

The current volatility for SPDR SSgA Global Allocation ETF (GAL) is 2.63%, while WisdomTree Europe SmallCap Dividend Fund (DFE) has a volatility of 5.20%. This indicates that GAL experiences smaller price fluctuations and is considered to be less risky than DFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAL	DFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	5.20%	-2.57%
Volatility (6M) Calculated over the trailing 6-month period	7.00%	11.93%	-4.93%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	14.66%	-5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.43%	19.01%	-8.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.37%	19.77%	-8.40%

GAL vs. DFE - Expense Ratio Comparison

GAL has a 0.35% expense ratio, which is lower than DFE's 0.58% expense ratio.

Dividends

GAL vs. DFE - Dividend Comparison

GAL's dividend yield for the trailing twelve months is around 3.11%, less than DFE's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFE WisdomTree Europe SmallCap Dividend Fund	3.85%	4.38%	4.93%	4.97%	5.84%	2.56%	2.43%	3.39%	4.97%	2.53%	4.05%	2.78%
GAL SPDR SSgA Global Allocation ETF	3.11%	3.47%	2.99%	2.56%	6.19%	4.05%	2.14%	2.96%	2.43%	2.26%	2.43%	3.10%

Frequently Asked Questions

Can I hold both GAL and DFE in my portfolio?

GAL and DFE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAL or DFE?

DFE has higher volatility (5.20%) compared to GAL (2.63%). In terms of maximum drawdown, GAL dropped -28.31% vs DFE's -69.38%.

Which ETF is better, GAL or DFE?

On 10-year performance, GAL leads with 8.29% vs 6.90% for DFE. On fees, GAL is cheaper at 0.35% per year. On volatility, GAL has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GAL or DFE?

Over the 10-year period, GAL has performed better with a 8.29% return vs 6.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GAL or DFE?

GAL is cheaper with a 0.35% expense ratio, compared with 0.58% for DFE.

Which ETF pays a higher dividend yield, GAL or DFE?

DFE has the higher dividend yield at 3.85%, compared with 3.11% for GAL.

What is the main difference between GAL and DFE?

GAL is categorized as Diversified Portfolio, while DFE is Europe Equities. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.35% for GAL and 0.58% for DFE.

Which has better risk-adjusted returns?

GAL currently has the higher Sharpe Ratio (2.42 vs 0.95), 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.