IAI vs. DGS
IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) and DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) are both exchange-traded funds - IAI is a Financials Equities fund tracking the DJ US Select / Investment Services, while DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index. Both are passively managed. Over the past 10 years, IAI returned 19.37%/yr vs 10.14%/yr for DGS. A 0.59 correlation means they provide meaningful diversification when combined. IAI charges 0.41%/yr vs 0.58%/yr for DGS.
Performance
IAI vs. DGS - Performance Comparison
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Returns By Period
In the year-to-date period, IAI achieves a 3.17% return, which is significantly lower than DGS's 14.94% return. Over the past 10 years, IAI has outperformed DGS with an annualized return of 19.37%, while DGS has yielded a comparatively lower 10.14% annualized return.
IAI
- 1D
- 1.83%
- 1M
- 2.57%
- YTD
- 3.17%
- 6M
- 2.78%
- 1Y
- 21.00%
- 3Y*
- 28.06%
- 5Y*
- 14.44%
- 10Y*
- 19.37%
DGS
- 1D
- 0.65%
- 1M
- 1.51%
- YTD
- 14.94%
- 6M
- 17.07%
- 1Y
- 25.61%
- 3Y*
- 15.36%
- 5Y*
- 8.06%
- 10Y*
- 10.14%
IAI vs. DGS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 3.17% | 25.80% | 34.37% | 15.27% | -10.87% | 40.48% | 18.61% | 24.26% | -9.47% | 28.86% |
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 14.94% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
Correlation
The correlation between IAI and DGS is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007 | 0.59 |
The correlation between IAI and DGS has been stable across timeframes, ranging from 0.50 to 0.59 - a consistent structural relationship.
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Return for Risk
IAI vs. DGS — Risk / Return Rank
IAI
DGS
IAI vs. DGS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). 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.
| IAI | DGS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.27 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.38 | -1.21 |
| Martin ratioReturn relative to average drawdown | 3.33 | 7.84 | -4.51 |
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Drawdowns
IAI vs. DGS - Drawdown Comparison
The maximum IAI drawdown since its inception was -75.46%, which is greater than DGS's maximum drawdown of -61.83%. Use the drawdown chart below to compare losses from any high point for IAI and DGS.
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Drawdown Indicators
| IAI | DGS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.46% | -61.83% | -13.63% |
Max Drawdown (1Y)Largest decline over 1 year | -16.52% | -10.06% | -6.46% |
Max Drawdown (3Y)Largest decline over 3 years | -23.14% | -19.31% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | -24.86% | -3.98% |
Max Drawdown (10Y)Largest decline over 10 years | -40.38% | -44.08% | +3.70% |
Current DrawdownCurrent decline from peak | -2.81% | -1.05% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -22.63% | -12.57% | -10.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 3.05% | +2.75% |
Volatility
IAI vs. DGS - Volatility Comparison
The current volatility for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is 5.98%, while WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) has a volatility of 7.30%. This indicates that IAI experiences smaller price fluctuations and is considered to be less risky than DGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAI | DGS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 7.30% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.34% | 14.27% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.44% | 16.60% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 15.08% | +6.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.85% | 17.39% | +5.46% |
IAI vs. DGS - Expense Ratio Comparison
IAI has a 0.41% expense ratio, which is lower than DGS's 0.58% expense ratio.
Dividends
IAI vs. DGS - Dividend Comparison
IAI's dividend yield for the trailing twelve months is around 1.05%, less than DGS's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.20% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 1.05% | 0.95% | 1.05% | 1.80% | 2.14% | 1.31% | 1.55% | 1.52% | 1.58% | 1.37% | 1.49% | 1.31% |
Frequently Asked Questions
IAI and DGS have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGS has higher volatility (7.30%) compared to IAI (5.98%). In terms of maximum drawdown, IAI dropped -75.46% vs DGS's -61.83%.
On 10-year performance, IAI leads with 19.37% vs 10.14% for DGS. On fees, IAI is cheaper at 0.41% per year. On volatility, IAI has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAI has performed better with a 19.37% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAI is cheaper with a 0.41% expense ratio, compared with 0.58% for DGS.
DGS has the higher dividend yield at 3.20%, compared with 1.05% for IAI.
IAI is categorized as Financials Equities, while DGS is Emerging Markets Diversified. IAI tracks DJ US Select / Investment Services, while DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.41% for IAI and 0.58% for DGS.
DGS currently has the higher Sharpe Ratio (1.44 vs 1.00), 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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