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HDV vs. DES
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. DES

Last updated Jul 17, 2026
Documentation

HDV (iShares Core High Dividend ETF) and DES (WisdomTree U.S. SmallCap Dividend Fund) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while DES is a Small Cap Blend Equities fund tracking the WisdomTree SmallCap Dividend (TR). Both are passively managed. Over the past 10 years, HDV returned 9.28%/yr vs 8.23%/yr for DES. A 0.71 correlation means they provide meaningful diversification when combined. HDV charges 0.08%/yr vs 0.38%/yr for DES.

Performance

HDV vs. DES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) 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, HDV achieves a 18.49% return, which is significantly lower than DES's 24.63% return. Over the past 10 years, HDV has outperformed DES with an annualized return of 9.28%, while DES has yielded a comparatively lower 8.23% annualized return.

HDV

1D
2.57%
1M
3.57%
6M
13.53%
YTD
18.49%
1Y
23.14%
3Y*
16.44%
5Y*
11.92%
10Y*
9.28%

DES

1D
1.85%
1M
4.99%
6M
16.48%
YTD
24.63%
1Y
30.86%
3Y*
15.04%
5Y*
9.02%
10Y*
8.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. DES - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDV
iShares Core High Dividend ETF		18.49%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%
DES
WisdomTree U.S. SmallCap Dividend Fund		24.63%0.25%9.93%16.50%-10.96%26.51%-4.26%20.26%-12.85%8.64%

Correlation

The correlation between HDV and DES is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

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

0.57

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

0.66

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.71

Over the past year, the correlation between HDV and DES has dropped to 0.43 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

HDV vs. DES - Sectors Allocation Comparison

Sectors
HDV
DES

Consumer Defensive

24.5%
4.1%

Healthcare

23.7%
2.0%

Energy

19.6%
10.2%

Consumer Cyclical

9.2%
16.0%

Utilities

8.2%
4.2%

Communication Services

5.2%
2.8%

Financial Services

4.8%
24.8%

Industrials

3.6%
13.4%

Basic Materials

0.8%
6.3%

Technology

0.2%
6.0%

Real Estate

-

10.1%

Consumer Defensive

HDV
24.5%
DES
4.1%

Healthcare

HDV
23.7%
DES
2.0%

Energy

HDV
19.6%
DES
10.2%

Consumer Cyclical

HDV
9.2%
DES
16.0%

Utilities

HDV
8.2%
DES
4.2%

Communication Services

HDV
5.2%
DES
2.8%

Financial Services

HDV
4.8%
DES
24.8%

Industrials

HDV
3.6%
DES
13.4%

Basic Materials

HDV
0.8%
DES
6.3%

Technology

HDV
0.2%
DES
6.0%

Real Estate

HDV

-

DES
10.1%

Compare stocks, funds, or ETFs

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

iShares Core High Dividend ETF

WisdomTree U.S. SmallCap Dividend Fund

Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY
Often compared with DES:
DES vs. FDVVDES vs. AVUVDES vs. EESDES vs. IWNDES vs. SCHDDES vs. VBRDES vs. VXUS

Return for Risk

HDV vs. DES — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 8585
Overall Rank
HDV Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 8888
Sortino Ratio Rank
HDV Omega Ratio Rank: 8181
Omega Ratio Rank
HDV Calmar Ratio Rank: 9191
Calmar Ratio Rank
HDV Martin Ratio Rank: 8181
Martin Ratio Rank
DES
DES Risk / Return Rank: 7979
Overall Rank
DES Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
DES Sortino Ratio Rank: 8181
Sortino Ratio Rank
DES Omega Ratio Rank: 7373
Omega Ratio Rank
DES Calmar Ratio Rank: 8888
Calmar Ratio Rank
DES Martin Ratio Rank: 7878
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.

HDV vs. DES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) 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.

HDVDESDifference
Sharpe ratioReturn per unit of total volatility
2.17
1.94

+0.24

Sortino ratioReturn per unit of downside risk
3.28
2.90

+0.38

Omega ratioGain probability vs. loss probability

1.38

1.34

+0.04

Calmar ratioReturn relative to maximum drawdown

4.49

4.06

+0.43

Martin ratioReturn relative to average drawdown

12.27

11.65

+0.61

HDV vs. DES - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.17, which is comparable to the DES Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of HDV 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

HDV vs. DES - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, smaller than the maximum DES drawdown of -65.48%. Use the drawdown chart below to compare losses from any high point for HDV and DES.

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Drawdown Indicators

HDVDESDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-65.48%

+28.44%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-7.64%

+2.46%

Max Drawdown (3Y)

Largest decline over 3 years

-10.49%

-25.16%

+14.67%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-25.16%

+9.74%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-45.65%

+8.61%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.07%

-9.63%

+6.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.89%

2.66%

-0.77%

Volatility

HDV vs. DES - Volatility Comparison

iShares Core High Dividend ETF (HDV) has a higher volatility of 5.12% compared to WisdomTree U.S. SmallCap Dividend Fund (DES) at 3.69%. This indicates that HDV's price experiences larger fluctuations and is considered to be riskier 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

HDVDESDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.12%

3.69%

+1.43%

Volatility (6M)

Calculated over the trailing 6-month period

8.63%

11.05%

-2.42%

Volatility (1Y)

Calculated over the trailing 1-year period

10.72%

16.02%

-5.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.95%

19.46%

-6.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.77%

21.91%

-6.14%

HDV vs. DES - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than DES's 0.38% expense ratio.

Dividends

HDV vs. DES - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 3.11%, more than DES's 2.22% yield.

PositionTTM20252024202320222021202020192018201720162015
DES
WisdomTree U.S. SmallCap Dividend Fund		2.22%2.85%2.81%2.65%2.89%2.31%2.75%2.68%3.65%2.89%2.70%3.09%
HDV
iShares Core High Dividend ETF		3.11%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%

Frequently Asked Questions

HDV and DES have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HDV has higher volatility (5.12%) compared to DES (3.69%). In terms of maximum drawdown, HDV dropped -37.04% vs DES's -65.48%.

On 10-year performance, HDV leads with 9.28% vs 8.23% for DES. On fees, HDV is cheaper at 0.08% per year. On volatility, DES has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, HDV has performed better with a 9.28% return vs 8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.38% for DES.

HDV has the higher dividend yield at 3.11%, compared with 2.22% for DES.

HDV is categorized as Dividend, while DES is Small Cap Blend Equities. HDV tracks Morningstar Dividend Yield Focus Index, while DES tracks WisdomTree SmallCap Dividend (TR). They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.08% for HDV and 0.38% for DES.

HDV currently has the higher Sharpe Ratio (2.17 vs 1.94), 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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