ICAP vs. DGRW

Last updated Aug 2, 2026

ICAP (Infrastructure Capital Equity Income ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - ICAP is a Derivative Income fund actively managed by InfraCap, while DGRW is a Quality Factor fund tracking the WisdomTree U.S. Quality Dividend Growth Index. ICAP is actively managed, while DGRW is passively managed. Over the past 3 years, ICAP returned 15.47%/yr vs 13.97%/yr for DGRW. Their 0.75 correlation means they have sometimes moved together and sometimes differently. ICAP charges 2.47%/yr vs 0.28%/yr for DGRW.

Performance

ICAP vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Infrastructure Capital Equity Income ETF (ICAP) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ICAP having a 8.65% return and DGRW slightly lower at 8.57%.

ICAP

• 1D: 1.10%
• 1M: 1.12%
• 6M: 4.76%
• YTD: 8.65%
• 1Y: 18.28%
• 3Y*: 15.47%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.08%

DGRW

• 1D: 0.49%
• 1M: 0.69%
• 6M: 6.01%
• YTD: 8.57%
• 1Y: 16.02%
• 3Y*: 13.97%
• 5Y*: 11.41%
• 10Y*: 13.71%
• ALL TIME*: 12.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DGRW WisdomTree U.S. Quality Dividend Growth Fund	$51.03M	$48.50M	$56.54M
ICAP Infrastructure Capital Equity Income ETF	$705.93K	$687.44K	$943.59K

ICAP vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ICAP Infrastructure Capital Equity Income ETF	8.65%	15.77%	14.83%	8.82%	-10.10%	1.08%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	8.57%	12.17%	16.98%	18.66%	-6.33%	0.11%

Correlation

The correlation between ICAP and DGRW is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (All Time) Calculated using the full available price history since Dec 29, 2021	0.75

The correlation between ICAP and DGRW has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

ICAP vs. DGRW - Sectors Allocation Comparison

Sectors	ICAP	DGRW
Financial Services	24.8%	8.4%
Consumer Cyclical	19.4%	8.0%
Technology	11.3%	33.8%
Utilities	8.7%	0.2%
Industrials	7.8%	11.8%
Energy	7.8%	4.5%
Consumer Defensive	6.6%	6.7%
Real Estate	4.4%	-
Healthcare	3.8%	12.8%
Communication Services	3.0%	11.1%
Basic Materials	2.6%	2.8%

Return for Risk

ICAP vs. DGRW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ICAP

ICAP Risk / Return Rank: 50
ICAP Sharpe Ratio Rank: 53
ICAP Sortino Ratio Rank: 51
ICAP Omega Ratio Rank: 50
ICAP Calmar Ratio Rank: 45
ICAP Martin Ratio Rank: 52

DGRW

DGRW Risk / Return Rank: 59
DGRW Sharpe Ratio Rank: 62
DGRW Sortino Ratio Rank: 61
DGRW Omega Ratio Rank: 62
DGRW Calmar Ratio Rank: 51
DGRW Martin Ratio Rank: 61

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ICAP vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Infrastructure Capital Equity Income ETF (ICAP) 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.

	ICAP	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.43	-0.14
Sortino ratio: Return per unit of downside risk	1.81	2.04	-0.23
Omega ratio: Gain probability vs. loss probability	1.23	1.26	-0.04
Calmar ratio: Return relative to maximum drawdown	1.63	1.79	-0.16
Martin ratio: Return relative to average drawdown	6.14	7.25	-1.10

ICAP vs. DGRW - Sharpe Ratio Comparison

The current ICAP Sharpe Ratio is 1.28, which is comparable to the DGRW Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of ICAP 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

ICAP vs. DGRW - Drawdown Comparison

The maximum ICAP drawdown since its inception was -24.20%, smaller than the maximum DGRW drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for ICAP and DGRW.

Drawdown Indicators

	ICAP	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-24.20%	-32.04%	+7.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-8.30%	-2.36%
Max Drawdown (3Y) Largest decline over 3 years	-20.31%	-16.21%	-4.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.04%	—
Current Drawdown Current decline from peak	-0.34%	-1.31%	+0.97%
Average Drawdown Average peak-to-trough decline	-7.59%	-3.00%	-4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	2.05%	+0.77%

Volatility

ICAP vs. DGRW - Volatility Comparison

Infrastructure Capital Equity Income ETF (ICAP) has a higher volatility of 4.04% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 2.92%. This indicates that ICAP'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

	ICAP	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	2.92%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	8.33%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	13.55%	10.44%	+3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	14.01%	+4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	16.18%	+1.88%

ICAP vs. DGRW - Expense Ratio Comparison

ICAP has a 2.47% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

ICAP vs. DGRW - Dividend Comparison

ICAP's dividend yield for the trailing twelve months is around 9.93%, more than DGRW's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.28%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
ICAP Infrastructure Capital Equity Income ETF	9.93%	8.89%	8.30%	8.65%	8.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICAP and DGRW in my portfolio?

ICAP and DGRW have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICAP or DGRW?

ICAP has higher volatility (4.04%) compared to DGRW (2.92%). In terms of maximum drawdown, ICAP dropped -24.20% vs DGRW's -32.04%.

Which ETF is better, ICAP or DGRW?

On 3-year performance, ICAP leads with 15.47% vs 13.97% for DGRW. On fees, DGRW is cheaper at 0.28% per year. On volatility, DGRW has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICAP or DGRW?

Over the 3-year period, ICAP has performed better with a 15.47% return vs 13.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICAP or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 2.47% for ICAP.

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

ICAP has the higher dividend yield at 9.93%, compared with 1.28% for DGRW.

What is the main difference between ICAP and DGRW?

ICAP is categorized as Derivative Income, while DGRW is Quality Factor. They also come from different issuers: InfraCap and WisdomTree. Their fees differ too: 2.47% for ICAP and 0.28% for DGRW.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (1.43 vs 1.28), 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.