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HEDG.L vs. DHS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HEDG.L vs. DHS

Last updated Jun 5, 2026

HEDG.L (WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF) and DHS (WisdomTree US High Dividend Fund) are both exchange-traded funds - HEDG.L is a Europe Equities fund tracking the MSCI Europe NR EUR, 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, HEDG.L returned 9.12%/yr vs 12.03%/yr for DHS. At a 0.10 correlation, their price movements are largely independent. HEDG.L charges 0.32%/yr vs 0.38%/yr for DHS.

Performance

HEDG.L vs. DHS - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) and WisdomTree US High Dividend Fund (DHS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HEDG.L is traded in GBp, while DHS is traded in USD. To make them comparable, the DHS values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, HEDG.L achieves a 4.93% return, which is significantly lower than DHS's 11.55% return.

HEDG.L

1D
0.40%
1M
3.95%
YTD
4.93%
6M
5.89%
1Y
16.64%
3Y*
13.51%
5Y*
9.12%
10Y*
—

DHS

1D
1.10%
1M
1.43%
YTD
11.55%
6M
11.17%
1Y
24.04%
3Y*
14.10%
5Y*
12.03%
10Y*
10.37%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HEDG.L vs. DHS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HEDG.L
WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF		4.93%27.46%-0.46%21.61%-8.76%15.18%-0.53%16.73%-8.10%21.47%
DHS
WisdomTree US High Dividend Fund		11.55%4.83%20.08%-5.17%20.81%24.37%-8.47%17.93%-1.92%2.03%

Correlation

The correlation between HEDG.L and DHS is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

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

0.17

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

0.14

Correlation (All Time)
Calculated using the full available price history since Sep 6, 2016

0.10

The correlation between HEDG.L and DHS shifts across timeframes, from 0.10 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

HEDG.L vs. DHS - Sectors Allocation Comparison

Sectors
HEDG.L
DHS

Industrials

20.9%
4.1%

Financial Services

15.2%
22.3%

Consumer Cyclical

13.6%
5.0%

Consumer Defensive

12.8%
18.7%

Technology

12.4%
3.7%

Healthcare

8.5%
14.5%

Basic Materials

6.9%
1.2%

Communication Services

6.0%
9.3%

Energy

3.8%
9.4%

Real Estate

-

2.8%

Utilities

-

9.0%

Industrials

HEDG.L
20.9%
DHS
4.1%

Financial Services

HEDG.L
15.2%
DHS
22.3%

Consumer Cyclical

HEDG.L
13.6%
DHS
5.0%

Consumer Defensive

HEDG.L
12.8%
DHS
18.7%

Technology

HEDG.L
12.4%
DHS
3.7%

Healthcare

HEDG.L
8.5%
DHS
14.5%

Basic Materials

HEDG.L
6.9%
DHS
1.2%

Communication Services

HEDG.L
6.0%
DHS
9.3%

Energy

HEDG.L
3.8%
DHS
9.4%

Real Estate

HEDG.L

-

DHS
2.8%

Utilities

HEDG.L

-

DHS
9.0%

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WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF

WisdomTree US High Dividend Fund

Often compared with HEDG.L:
HEDG.L vs. DHSCXHEDG.L vs. LYP6.DEHEDG.L vs. VUAG.LHEDG.L vs. PHSP.LHEDG.L vs. 3USL.LHEDG.L vs. CS1.LHEDG.L vs. EEIP.L
Often compared with DHS:
DHS vs. SCHDDHS vs. SPHDDHS vs. DGRODHS vs. JEPIDHS vs. FDVVDHS vs. DTDDHS vs. SPY

Return for Risk

HEDG.L vs. DHS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HEDG.L
HEDG.L Risk / Return Rank: 3232
Overall Rank
HEDG.L Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
HEDG.L Sortino Ratio Rank: 3333
Sortino Ratio Rank
HEDG.L Omega Ratio Rank: 3333
Omega Ratio Rank
HEDG.L Calmar Ratio Rank: 2929
Calmar Ratio Rank
HEDG.L Martin Ratio Rank: 3232
Martin Ratio Rank
DHS
DHS Risk / Return Rank: 7272
Overall Rank
DHS Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DHS Sortino Ratio Rank: 7777
Sortino Ratio Rank
DHS Omega Ratio Rank: 6767
Omega Ratio Rank
DHS Calmar Ratio Rank: 7474
Calmar Ratio Rank
DHS Martin Ratio Rank: 7272
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.

HEDG.L vs. DHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) 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.

HEDG.LDHSDifference
Sharpe ratioReturn per unit of total volatility
1.17
2.25

-1.08

Sortino ratioReturn per unit of downside risk
1.71
3.23

-1.52

Omega ratioGain probability vs. loss probability

1.22

1.38

-0.16

Calmar ratioReturn relative to maximum drawdown

1.36

4.40

-3.05

Martin ratioReturn relative to average drawdown

4.66

15.19

-10.53

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEDG.L vs. DHS - Sharpe Ratio Comparison

The current HEDG.L Sharpe Ratio is 1.17, which is lower than the DHS Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of HEDG.L 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.

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Sharpe Ratios by Period

HEDG.LDHSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.17

2.25

-1.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.90

0.89

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.63

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.04

0.49

+0.56

Drawdowns

HEDG.L vs. DHS - Drawdown Comparison

The maximum HEDG.L drawdown since its inception was -28.32%, smaller than the maximum DHS drawdown of -52.83%. Use the drawdown chart below to compare losses from any high point for HEDG.L and DHS.

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Drawdown Indicators

HEDG.LDHSDifference

Max Drawdown

Largest peak-to-trough decline

-28.32%

-52.83%

+24.51%

Max Drawdown (1Y)

Largest decline over 1 year

-12.22%

-5.48%

-6.74%

Max Drawdown (3Y)

Largest decline over 3 years

-13.02%

-14.52%

+1.50%

Max Drawdown (5Y)

Largest decline over 5 years

-18.10%

-16.73%

-1.37%

Max Drawdown (10Y)

Largest decline over 10 years

—

-29.70%

—

Current Drawdown

Current decline from peak

-1.89%

-1.42%

-0.47%

Average Drawdown

Average peak-to-trough decline

-4.20%

-7.26%

+3.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

1.59%

+1.97%

Volatility

HEDG.L vs. DHS - Volatility Comparison

WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) has a higher volatility of 4.41% compared to WisdomTree US High Dividend Fund (DHS) at 3.35%. This indicates that HEDG.L'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.

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Volatility by Period

HEDG.LDHSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.41%

3.35%

+1.06%

Volatility (6M)

Calculated over the trailing 6-month period

11.64%

8.32%

+3.32%

Volatility (1Y)

Calculated over the trailing 1-year period

14.23%

10.80%

+3.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.92%

13.65%

+5.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.82%

16.58%

+10.24%

HEDG.L vs. DHS - Expense Ratio Comparison

HEDG.L has a 0.32% expense ratio, which is lower than DHS's 0.38% expense ratio.

Dividends

HEDG.L vs. DHS - Dividend Comparison

HEDG.L has not paid dividends to shareholders, while DHS's dividend yield for the trailing twelve months is around 3.32%.

PositionTTM20252024202320222021202020192018201720162015
DHS
WisdomTree US High Dividend Fund		3.32%3.32%3.66%4.31%3.42%3.29%4.14%3.69%3.76%3.00%3.25%3.53%
HEDG.L
WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HEDG.L and DHS have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HEDG.L is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HEDG.L is cheaper with a 0.32% expense ratio, compared with 0.38% for DHS.

HEDG.L is categorized as Europe Equities, while DHS is Large Cap Value Equities. HEDG.L tracks MSCI Europe NR EUR, while DHS tracks WisdomTree U.S. High Dividend Index. Their fees differ too: 0.32% for HEDG.L and 0.38% for DHS.

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