SMDV vs. DES

Last updated Jun 5, 2026

SMDV (ProShares Russell 2000 Dividend Growers ETF) and DES (WisdomTree U.S. SmallCap Dividend Fund) are both Small Cap Blend Equities funds - SMDV tracks the Russell 2000 Dividend Growth Index while DES tracks the WisdomTree SmallCap Dividend (TR). Both are passively managed. Over the past 10 years, SMDV returned 7.13%/yr vs 8.06%/yr for DES. Their correlation of 0.91 suggests significant overlap in exposure. SMDV charges 0.40%/yr vs 0.38%/yr for DES.

Performance

SMDV vs. DES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dividend Growers ETF (SMDV) and WisdomTree U.S. SmallCap Dividend Fund (DES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMDV achieves a 10.34% return, which is significantly lower than DES's 16.57% return. Over the past 10 years, SMDV has underperformed DES with an annualized return of 7.13%, while DES has yielded a comparatively higher 8.06% annualized return.

SMDV

• 1D: 1.41%
• 1M: -0.34%
• YTD: 10.34%
• 6M: 9.74%
• 1Y: 16.31%
• 3Y*: 10.43%
• 5Y*: 4.17%
• 10Y*: 7.13%

DES

• 1D: 1.20%
• 1M: 0.35%
• YTD: 16.57%
• 6M: 16.04%
• 1Y: 27.81%
• 3Y*: 15.31%
• 5Y*: 6.21%
• 10Y*: 8.06%

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

SMDV vs. DES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMDV ProShares Russell 2000 Dividend Growers ETF	10.34%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	17.23%	-0.58%	4.63%
DES WisdomTree U.S. SmallCap Dividend Fund	16.57%	0.25%	9.93%	16.50%	-10.96%	26.51%	-4.26%	20.26%	-12.85%	8.64%

Correlation

The correlation between SMDV and DES is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 6, 2015	0.91

The correlation between SMDV and DES has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

SMDV vs. DES - Sectors Allocation Comparison

Sectors	SMDV	DES
Financial Services	31.9%	23.7%
Industrials	22.2%	13.3%
Utilities	15.8%	4.6%
Basic Materials	7.8%	6.0%
Real Estate	7.4%	9.6%
Consumer Defensive	4.8%	4.3%
Consumer Cyclical	4.1%	14.8%
Technology	3.2%	5.5%
Healthcare	1.8%	1.7%
Communication Services	1.0%	2.8%
Energy	-	10.7%

Return for Risk

SMDV vs. DES — Risk / Return Rank

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

SMDV

SMDV Risk / Return Rank: 31
SMDV Sharpe Ratio Rank: 29
SMDV Sortino Ratio Rank: 31
SMDV Omega Ratio Rank: 28
SMDV Calmar Ratio Rank: 34
SMDV Martin Ratio Rank: 34

DES

DES Risk / Return Rank: 57
DES Sharpe Ratio Rank: 50
DES Sortino Ratio Rank: 54
DES Omega Ratio Rank: 49
DES Calmar Ratio Rank: 74
DES Martin Ratio Rank: 59

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.

SMDV vs. DES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dividend Growers ETF (SMDV) and WisdomTree U.S. SmallCap Dividend Fund (DES). 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.

	SMDV	DES	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.70	-0.67
Sortino ratio: Return per unit of downside risk	1.65	2.54	-0.89
Omega ratio: Gain probability vs. loss probability	1.19	1.30	-0.11
Calmar ratio: Return relative to maximum drawdown	1.67	3.66	-1.98
Martin ratio: Return relative to average drawdown	5.04	10.41	-5.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMDV vs. DES - Sharpe Ratio Comparison

The current SMDV Sharpe Ratio is 1.03, which is lower than the DES Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of SMDV and DES, 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

	SMDV	DES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.70	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.32	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.37	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.32	+0.07

Drawdowns

SMDV vs. DES - Drawdown Comparison

The maximum SMDV drawdown since its inception was -34.12%, smaller than the maximum DES drawdown of -65.48%. Use the drawdown chart below to compare losses from any high point for SMDV and DES.

Drawdown Indicators

	SMDV	DES	Difference
Max Drawdown Largest peak-to-trough decline	-34.12%	-65.48%	+31.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-7.64%	-2.15%
Max Drawdown (3Y) Largest decline over 3 years	-21.23%	-25.16%	+3.93%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-25.16%	+3.93%
Max Drawdown (10Y) Largest decline over 10 years	-34.12%	-45.65%	+11.53%
Current Drawdown Current decline from peak	-1.39%	-0.33%	-1.06%
Average Drawdown Average peak-to-trough decline	-5.93%	-9.68%	+3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	2.68%	+0.57%

Volatility

SMDV vs. DES - Volatility Comparison

ProShares Russell 2000 Dividend Growers ETF (SMDV) has a higher volatility of 4.42% compared to WisdomTree U.S. SmallCap Dividend Fund (DES) at 4.09%. This indicates that SMDV's price experiences larger fluctuations and is considered to be riskier than DES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMDV	DES	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.09%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	10.63%	11.07%	-0.44%
Volatility (1Y) Calculated over the trailing 1-year period	15.88%	16.45%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	19.58%	-0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	21.97%	-1.24%

SMDV vs. DES - Expense Ratio Comparison

SMDV has a 0.40% expense ratio, which is higher than DES's 0.38% expense ratio.

Dividends

SMDV vs. DES - Dividend Comparison

SMDV's dividend yield for the trailing twelve months is around 2.38%, which matches DES's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DES WisdomTree U.S. SmallCap Dividend Fund	2.37%	2.85%	2.81%	2.65%	2.89%	2.31%	2.75%	2.68%	3.65%	2.89%	2.70%	3.09%
SMDV ProShares Russell 2000 Dividend Growers ETF	2.38%	2.67%	2.68%	2.69%	2.51%	2.02%	2.13%	2.03%	1.97%	1.84%	1.35%	1.81%

Frequently Asked Questions

Can I hold both SMDV and DES in my portfolio?

With a correlation of 0.93, SMDV and DES move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SMDV or DES?

SMDV has higher volatility (4.42%) compared to DES (4.09%). In terms of maximum drawdown, SMDV dropped -34.12% vs DES's -65.48%.

Which ETF is better, SMDV or DES?

On 10-year performance, DES leads with 8.06% vs 7.13% for SMDV. On fees, DES is cheaper at 0.38% per year. On volatility, DES has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMDV or DES?

Over the 10-year period, DES has performed better with a 8.06% return vs 7.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMDV or DES?

DES is cheaper with a 0.38% expense ratio, compared with 0.40% for SMDV.

Which ETF pays a higher dividend yield, SMDV or DES?

SMDV has the higher dividend yield at 2.38%, compared with 2.37% for DES.

What is the main difference between SMDV and DES?

SMDV tracks Russell 2000 Dividend Growth Index, while DES tracks WisdomTree SmallCap Dividend (TR). They also come from different issuers: ProShares and WisdomTree. Their fees differ too: 0.40% for SMDV and 0.38% for DES.

Which has better risk-adjusted returns?

DES currently has the higher Sharpe Ratio (1.70 vs 1.03), 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.