UINC.L vs. DHS.L

Last updated Jul 17, 2026

UINC.L (First Trust US Equity Income UCITS ETF USD (Dist)) and DHS.L (WisdomTree US High Dividend UCITS ETF USD (Dist)) are both Dividend funds - UINC.L tracks the Nasdaq US High Equity Income NTR Index while DHS.L tracks the WisdomTree US High Dividend UCITS Index. Both are passively managed. Over the past 10 years, UINC.L returned 10.26%/yr vs 9.32%/yr for DHS.L. Their correlation of 0.85 suggests significant overlap in exposure. UINC.L charges 0.55%/yr vs 0.29%/yr for DHS.L.

Performance

UINC.L vs. DHS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust US Equity Income UCITS ETF USD (Dist) (UINC.L) and WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UINC.L achieves a 19.61% return, which is significantly higher than DHS.L's 14.07% return. Over the past 10 years, UINC.L has outperformed DHS.L with an annualized return of 10.26%, while DHS.L has yielded a comparatively lower 9.32% annualized return.

UINC.L

• 1D: 2.08%
• 1M: 4.40%
• 6M: 14.97%
• YTD: 19.61%
• 1Y: 27.63%
• 3Y*: 15.28%
• 5Y*: 10.68%
• 10Y*: 10.26%

DHS.L

• 1D: 1.35%
• 1M: 3.83%
• 6M: 9.51%
• YTD: 14.07%
• 1Y: 25.09%
• 3Y*: 16.73%
• 5Y*: 12.73%
• 10Y*: 9.32%

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

UINC.L vs. DHS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UINC.L First Trust US Equity Income UCITS ETF USD (Dist)	19.61%	0.01%	8.49%	10.78%	4.24%	34.94%	-2.77%	12.59%	-3.41%	5.05%
DHS.L WisdomTree US High Dividend UCITS ETF USD (Dist)	14.07%	4.77%	20.38%	-4.02%	19.92%	25.61%	-7.64%	18.85%	-2.86%	1.32%

Correlation

The correlation between UINC.L and DHS.L is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 14, 2016	0.85

The correlation between UINC.L and DHS.L has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

UINC.L vs. DHS.L — Risk / Return Rank

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

UINC.L

UINC.L Risk / Return Rank: 86
UINC.L Sharpe Ratio Rank: 84
UINC.L Sortino Ratio Rank: 86
UINC.L Omega Ratio Rank: 79
UINC.L Calmar Ratio Rank: 94
UINC.L Martin Ratio Rank: 89

DHS.L

DHS.L Risk / Return Rank: 87
DHS.L Sharpe Ratio Rank: 89
DHS.L Sortino Ratio Rank: 89
DHS.L Omega Ratio Rank: 85
DHS.L Calmar Ratio Rank: 87
DHS.L Martin Ratio Rank: 85

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.

UINC.L vs. DHS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Equity Income UCITS ETF USD (Dist) (UINC.L) and WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L). 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.

	UINC.L	DHS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.37	-0.19
Sortino ratio: Return per unit of downside risk	3.14	3.32	-0.18
Omega ratio: Gain probability vs. loss probability	1.37	1.41	-0.04
Calmar ratio: Return relative to maximum drawdown	5.40	3.90	+1.49
Martin ratio: Return relative to average drawdown	15.23	13.44	+1.79

UINC.L vs. DHS.L - Sharpe Ratio Comparison

The current UINC.L Sharpe Ratio is 2.18, which is comparable to the DHS.L Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of UINC.L and DHS.L, 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

UINC.L vs. DHS.L - Drawdown Comparison

The maximum UINC.L drawdown since its inception was -38.33%, roughly equal to the maximum DHS.L drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for UINC.L and DHS.L.

Drawdown Indicators

	UINC.L	DHS.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.33%	-38.98%	+0.65%
Max Drawdown (1Y) Largest decline over 1 year	-5.10%	-6.40%	+1.30%
Max Drawdown (3Y) Largest decline over 3 years	-23.09%	-17.50%	-5.59%
Max Drawdown (5Y) Largest decline over 5 years	-23.09%	-18.39%	-4.70%
Max Drawdown (10Y) Largest decline over 10 years	-38.33%	-28.93%	-9.40%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.26%	-9.19%	+0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	1.86%	-0.05%

Volatility

UINC.L vs. DHS.L - Volatility Comparison

First Trust US Equity Income UCITS ETF USD (Dist) (UINC.L) has a higher volatility of 3.96% compared to WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L) at 2.80%. This indicates that UINC.L's price experiences larger fluctuations and is considered to be riskier than DHS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UINC.L	DHS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	2.80%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	8.22%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	10.60%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	13.85%	+2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.58%	14.90%	+4.68%

UINC.L vs. DHS.L - Expense Ratio Comparison

UINC.L has a 0.55% expense ratio, which is higher than DHS.L's 0.29% expense ratio.

Dividends

UINC.L vs. DHS.L - Dividend Comparison

UINC.L's dividend yield for the trailing twelve months is around 2.75%, more than DHS.L's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHS.L WisdomTree US High Dividend UCITS ETF USD (Dist)	2.58%	2.89%	5.19%	5.19%	2.83%	2.87%	5.63%	4.86%	3.06%	2.70%	2.51%	2.46%
UINC.L First Trust US Equity Income UCITS ETF USD (Dist)	2.75%	3.03%	2.84%	3.20%	3.25%	2.15%	3.40%	3.14%	3.01%	2.49%	1.60%	0.00%

Frequently Asked Questions

Can I hold both UINC.L and DHS.L in my portfolio?

UINC.L and DHS.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UINC.L or DHS.L?

On fees, DHS.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UINC.L or DHS.L?

DHS.L is cheaper with a 0.29% expense ratio, compared with 0.55% for UINC.L.

What is the main difference between UINC.L and DHS.L?

UINC.L tracks Nasdaq US High Equity Income NTR Index, while DHS.L tracks WisdomTree US High Dividend UCITS Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.55% for UINC.L and 0.29% for DHS.L.