RMT vs. DON

Last updated Jun 23, 2026

RMT (Royce Micro-Cap Trust, Inc.) is a stock, while DON (WisdomTree US MidCap Dividend ETF) is Mid Cap Value Equities fund tracking the WisdomTree U.S. MidCap Dividend Index. Over the past 10 years, RMT returned 16.12%/yr vs 9.55%/yr for DON. A 0.76 correlation means they provide meaningful diversification when combined.

Performance

RMT vs. DON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Micro-Cap Trust, Inc. (RMT) and WisdomTree US MidCap Dividend ETF (DON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMT achieves a 41.35% return, which is significantly higher than DON's 9.31% return. Over the past 10 years, RMT has outperformed DON with an annualized return of 16.12%, while DON has yielded a comparatively lower 9.55% annualized return.

RMT

• 1D: 0.42%
• 1M: 7.44%
• YTD: 41.35%
• 6M: 38.43%
• 1Y: 75.53%
• 3Y*: 28.49%
• 5Y*: 12.16%
• 10Y*: 16.12%

DON

• 1D: 0.20%
• 1M: 1.49%
• YTD: 9.31%
• 6M: 7.61%
• 1Y: 16.47%
• 3Y*: 14.15%
• 5Y*: 8.80%
• 10Y*: 9.55%

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

RMT vs. DON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMT Royce Micro-Cap Trust, Inc.	41.35%	16.10%	13.97%	15.81%	-16.82%	22.56%	27.97%	25.05%	-14.88%	25.27%
DON WisdomTree US MidCap Dividend ETF	9.31%	3.86%	14.20%	14.04%	-4.72%	30.29%	-5.40%	23.31%	-8.26%	14.86%

Correlation

The correlation between RMT and DON is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 16, 2006	0.76

The correlation between RMT and DON has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

Return for Risk

RMT vs. DON — Risk / Return Rank

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

RMT

RMT Risk / Return Rank: 96
RMT Sharpe Ratio Rank: 97
RMT Sortino Ratio Rank: 97
RMT Omega Ratio Rank: 96
RMT Calmar Ratio Rank: 95
RMT Martin Ratio Rank: 97

DON

DON Risk / Return Rank: 37
DON Sharpe Ratio Rank: 36
DON Sortino Ratio Rank: 38
DON Omega Ratio Rank: 34
DON Calmar Ratio Rank: 37
DON Martin Ratio Rank: 38

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.

RMT vs. DON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Micro-Cap Trust, Inc. (RMT) and WisdomTree US MidCap Dividend ETF (DON). 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.

	RMT	DON	Difference
Sharpe ratio: Return per unit of total volatility	3.70	1.26	+2.44
Sortino ratio: Return per unit of downside risk	4.55	1.94	+2.62
Omega ratio: Gain probability vs. loss probability	1.58	1.22	+0.36
Calmar ratio: Return relative to maximum drawdown	6.68	1.83	+4.86
Martin ratio: Return relative to average drawdown	23.85	5.69	+18.16

RMT vs. DON - Sharpe Ratio Comparison

The current RMT Sharpe Ratio is 3.70, which is higher than the DON Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of RMT and DON, 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

RMT vs. DON - Drawdown Comparison

The maximum RMT drawdown since its inception was -73.94%, which is greater than DON's maximum drawdown of -61.94%. Use the drawdown chart below to compare losses from any high point for RMT and DON.

Drawdown Indicators

	RMT	DON	Difference
Max Drawdown Largest peak-to-trough decline	-73.94%	-61.94%	-12.00%
Max Drawdown (1Y) Largest decline over 1 year	-11.36%	-9.05%	-2.31%
Max Drawdown (3Y) Largest decline over 3 years	-26.41%	-21.46%	-4.95%
Max Drawdown (5Y) Largest decline over 5 years	-30.73%	-21.46%	-9.27%
Max Drawdown (10Y) Largest decline over 10 years	-50.40%	-46.80%	-3.60%
Current Drawdown Current decline from peak	0.00%	-1.18%	+1.18%
Average Drawdown Average peak-to-trough decline	-14.09%	-7.88%	-6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	2.90%	+0.28%

Volatility

RMT vs. DON - Volatility Comparison

Royce Micro-Cap Trust, Inc. (RMT) has a higher volatility of 6.72% compared to WisdomTree US MidCap Dividend ETF (DON) at 3.37%. This indicates that RMT's price experiences larger fluctuations and is considered to be riskier than DON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMT	DON	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	3.37%	+3.35%
Volatility (6M) Calculated over the trailing 6-month period	15.26%	8.98%	+6.28%
Volatility (1Y) Calculated over the trailing 1-year period	20.56%	13.10%	+7.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.77%	17.70%	+4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.40%	20.27%	+2.13%

Dividends

RMT vs. DON - Dividend Comparison

RMT's dividend yield for the trailing twelve months is around 5.74%, more than DON's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DON WisdomTree US MidCap Dividend ETF	2.32%	2.53%	2.27%	2.41%	2.71%	2.12%	2.77%	2.38%	2.55%	2.25%	2.48%	2.89%
RMT Royce Micro-Cap Trust, Inc.	5.74%	7.57%	7.59%	8.01%	10.94%	7.27%	6.03%	7.96%	10.11%	7.31%	7.84%	17.36%

Frequently Asked Questions

Can I hold both RMT and DON in my portfolio?

RMT and DON have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMT or DON?

RMT has higher volatility (6.72%) compared to DON (3.37%). In terms of maximum drawdown, RMT dropped -73.94% vs DON's -61.94%.

Which has better risk-adjusted returns?

RMT currently has the higher Sharpe Ratio (3.70 vs 1.26), 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.