HYIN vs. DGRW

Last updated Jun 5, 2026

HYIN (WisdomTree Alternative Income Fund) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 5 years, HYIN returned -0.48%/yr vs 12.33%/yr for DGRW. A 0.66 correlation means they provide meaningful diversification when combined. HYIN charges 3.20%/yr vs 0.28%/yr for DGRW.

Performance

HYIN vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Alternative Income Fund (HYIN) 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, HYIN achieves a -5.23% return, which is significantly lower than DGRW's 9.87% return.

HYIN

• 1D: 1.27%
• 1M: -3.56%
• YTD: -5.23%
• 6M: -5.97%
• 1Y: -3.94%
• 3Y*: 5.20%
• 5Y*: -0.48%
• 10Y*: —

DGRW

• 1D: 0.71%
• 1M: 4.18%
• YTD: 9.87%
• 6M: 9.49%
• 1Y: 21.83%
• 3Y*: 17.10%
• 5Y*: 12.33%
• 10Y*: 14.19%

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

HYIN vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYIN WisdomTree Alternative Income Fund	-5.23%	-0.46%	7.39%	21.84%	-21.14%	3.08%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	9.87%	12.17%	16.98%	18.66%	-6.33%	11.90%

Correlation

The correlation between HYIN and DGRW is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since May 7, 2021	0.66

The correlation between HYIN and DGRW has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.

HYIN vs. DGRW - Sectors Allocation Comparison

Sectors	HYIN	DGRW
Real Estate	63.0%	-
Financial Services	37.0%	11.3%
Energy	0.0%	5.0%
Basic Materials	0.0%	3.3%
Communication Services	0.0%	10.1%
Consumer Cyclical	-	7.1%
Consumer Defensive	-	6.7%
Healthcare	-	12.8%
Industrials	-	9.9%
Technology	-	32.1%
Utilities	-	0.2%

Return for Risk

HYIN vs. DGRW — Risk / Return Rank

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

HYIN

HYIN Risk / Return Rank: 6
HYIN Sharpe Ratio Rank: 6
HYIN Sortino Ratio Rank: 6
HYIN Omega Ratio Rank: 6
HYIN Calmar Ratio Rank: 7
HYIN Martin Ratio Rank: 7

DGRW

DGRW Risk / Return Rank: 66
DGRW Sharpe Ratio Rank: 69
DGRW Sortino Ratio Rank: 72
DGRW Omega Ratio Rank: 70
DGRW Calmar Ratio Rank: 54
DGRW 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.

HYIN vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) 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.

	HYIN	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	2.22	-2.53
Sortino ratio: Return per unit of downside risk	-0.35	3.22	-3.57
Omega ratio: Gain probability vs. loss probability	0.96	1.41	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.25	2.64	-2.90
Martin ratio: Return relative to average drawdown	-0.54	11.58	-12.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYIN vs. DGRW - Sharpe Ratio Comparison

The current HYIN Sharpe Ratio is -0.31, which is lower than the DGRW Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of HYIN 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.

Sharpe Ratios by Period

	HYIN	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.31	2.22	-2.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.89	-0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.86	-0.86

Drawdowns

HYIN vs. DGRW - Drawdown Comparison

The maximum HYIN drawdown since its inception was -31.10%, roughly equal to the maximum DGRW drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for HYIN and DGRW.

Drawdown Indicators

	HYIN	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-31.10%	-32.04%	+0.94%
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	-8.30%	-7.22%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	-16.21%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-31.10%	-17.27%	-13.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.04%	—
Current Drawdown Current decline from peak	-11.06%	-0.12%	-10.94%
Average Drawdown Average peak-to-trough decline	-9.02%	-3.01%	-6.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.28%	1.89%	+5.39%

Volatility

HYIN vs. DGRW - Volatility Comparison

WisdomTree Alternative Income Fund (HYIN) has a higher volatility of 3.44% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 2.49%. This indicates that HYIN's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYIN	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	2.49%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	7.67%	+2.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.82%	9.89%	+2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.81%	13.97%	+2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.81%	16.21%	+0.60%

HYIN vs. DGRW - Expense Ratio Comparison

HYIN has a 3.20% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

HYIN vs. DGRW - Dividend Comparison

HYIN's dividend yield for the trailing twelve months is around 13.27%, more than DGRW's 1.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.26%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
HYIN WisdomTree Alternative Income Fund	13.27%	12.58%	12.59%	11.71%	11.34%	4.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYIN and DGRW in my portfolio?

HYIN and DGRW have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYIN or DGRW?

HYIN has higher volatility (3.44%) compared to DGRW (2.49%). In terms of maximum drawdown, HYIN dropped -31.10% vs DGRW's -32.04%.

Which ETF is better, HYIN or DGRW?

On 5-year performance, DGRW leads with 12.33% vs -0.48% for HYIN. On fees, DGRW is cheaper at 0.28% per year. On volatility, DGRW has been the lower-risk option at 2.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYIN or DGRW?

Over the 5-year period, DGRW has performed better with a 12.33% return vs -0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYIN or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 3.20% for HYIN.

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

HYIN has the higher dividend yield at 13.27%, compared with 1.26% for DGRW.

What is the main difference between HYIN and DGRW?

HYIN is categorized as Diversified Portfolio, while DGRW is Dividend. HYIN tracks Gapstow Liquid Alternative Credit Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. Their fees differ too: 3.20% for HYIN and 0.28% for DGRW.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (2.22 vs -0.31), 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.