HDEF vs. DGRW

Last updated Jun 23, 2026

HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - HDEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE High Dividend Yield US Dollar Hedged Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, HDEF returned 8.91%/yr vs 14.25%/yr for DGRW. A 0.58 correlation means they provide meaningful diversification when combined. HDEF charges 0.20%/yr vs 0.28%/yr for DGRW.

Performance

HDEF vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDEF achieves a 4.67% return, which is significantly lower than DGRW's 7.35% return. Over the past 10 years, HDEF has underperformed DGRW with an annualized return of 8.91%, while DGRW has yielded a comparatively higher 14.25% annualized return.

HDEF

• 1D: 0.10%
• 1M: -2.50%
• YTD: 4.67%
• 6M: 5.08%
• 1Y: 16.79%
• 3Y*: 16.60%
• 5Y*: 10.39%
• 10Y*: 8.91%

DGRW

• 1D: -0.32%
• 1M: -0.70%
• YTD: 7.35%
• 6M: 7.02%
• 1Y: 18.84%
• 3Y*: 15.46%
• 5Y*: 12.16%
• 10Y*: 14.25%

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

HDEF vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	4.67%	33.01%	2.85%	18.53%	-2.51%	6.95%	-1.90%	25.02%	-13.74%	9.89%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	7.35%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between HDEF and DGRW is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Aug 18, 2015	0.58

The correlation between HDEF and DGRW has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.

HDEF vs. DGRW - Sectors Allocation Comparison

Sectors	HDEF	DGRW
Financial Services	26.5%	11.3%
Consumer Defensive	19.5%	6.7%
Healthcare	17.0%	12.8%
Energy	11.4%	5.0%
Utilities	7.8%	0.2%
Industrials	7.7%	9.9%
Consumer Cyclical	4.1%	7.1%
Communication Services	3.9%	10.1%
Real Estate	0.8%	-
Basic Materials	0.6%	3.3%
Technology	0.6%	32.1%

Return for Risk

HDEF vs. DGRW — Risk / Return Rank

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

HDEF

HDEF Risk / Return Rank: 41
HDEF Sharpe Ratio Rank: 42
HDEF Sortino Ratio Rank: 41
HDEF Omega Ratio Rank: 41
HDEF Calmar Ratio Rank: 43
HDEF Martin Ratio Rank: 39

DGRW

DGRW Risk / Return Rank: 55
DGRW Sharpe Ratio Rank: 57
DGRW Sortino Ratio Rank: 57
DGRW Omega Ratio Rank: 57
DGRW Calmar Ratio Rank: 47
DGRW Martin Ratio Rank: 57

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.

HDEF vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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.

	HDEF	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.85	-0.41
Sortino ratio: Return per unit of downside risk	2.03	2.63	-0.60
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.10	2.28	-0.18
Martin ratio: Return relative to average drawdown	6.08	9.75	-3.67

HDEF vs. DGRW - Sharpe Ratio Comparison

The current HDEF Sharpe Ratio is 1.43, which is comparable to the DGRW Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of HDEF and DGRW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HDEF vs. DGRW - Drawdown Comparison

The maximum HDEF drawdown since its inception was -36.43%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for HDEF and DGRW.

Drawdown Indicators

	HDEF	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-36.43%	-32.04%	-4.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.03%	-8.30%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-16.21%	+5.06%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-17.27%	-6.36%
Max Drawdown (10Y) Largest decline over 10 years	-36.43%	-32.04%	-4.39%
Current Drawdown Current decline from peak	-5.07%	-2.42%	-2.65%
Average Drawdown Average peak-to-trough decline	-5.05%	-3.01%	-2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	1.94%	+0.83%

Volatility

HDEF vs. DGRW - Volatility Comparison

The current volatility for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) is 3.03%, while WisdomTree U.S. Quality Dividend Growth Fund (DGRW) has a volatility of 3.64%. This indicates that HDEF experiences smaller price fluctuations and is considered to be less risky than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDEF	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	3.64%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	8.21%	+1.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.79%	10.27%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.14%	14.01%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	16.24%	-0.11%

HDEF vs. DGRW - Expense Ratio Comparison

HDEF has a 0.20% expense ratio, which is lower than DGRW's 0.28% expense ratio.

Dividends

HDEF vs. DGRW - Dividend Comparison

HDEF's dividend yield for the trailing twelve months is around 3.97%, more than DGRW's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.29%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	3.97%	3.88%	4.53%	4.38%	5.41%	4.76%	3.93%	4.20%	3.55%	3.38%	9.53%	1.87%

Frequently Asked Questions

Can I hold both HDEF and DGRW in my portfolio?

HDEF and DGRW have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDEF or DGRW?

DGRW has higher volatility (3.64%) compared to HDEF (3.03%). In terms of maximum drawdown, HDEF dropped -36.43% vs DGRW's -32.04%.

Which ETF is better, HDEF or DGRW?

On 10-year performance, DGRW leads with 14.25% vs 8.91% for HDEF. On fees, HDEF is cheaper at 0.20% per year. On volatility, HDEF has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDEF or DGRW?

Over the 10-year period, DGRW has performed better with a 14.25% return vs 8.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDEF or DGRW?

HDEF is cheaper with a 0.20% expense ratio, compared with 0.28% for DGRW.

Which ETF pays a higher dividend yield, HDEF or DGRW?

HDEF has the higher dividend yield at 3.97%, compared with 1.29% for DGRW.

What is the main difference between HDEF and DGRW?

HDEF is categorized as Foreign Large Cap Equities, while DGRW is Dividend. HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. They also come from different issuers: Deutsche Bank and WisdomTree. Their fees differ too: 0.20% for HDEF and 0.28% for DGRW.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (1.85 vs 1.43), 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.