DEM vs DGS: Grades, Fees and Holdings Compared

WisdomTree Emerging Markets High Dividend Fund

DEMBNYSE Arca

WisdomTree Emerging Markets SmallCap Dividend Fund

DGSBNYSE Arca

Overlap

23.2%by weight

Expense ratio

DGS −0.05pt a year

DEM0.63%DGS0.58%

Avg volume · 30D

DEM 5.3×the volume

DEM231KDGS43.3K

10Y return · a year

DEM +0.8pt

DEM+8.6%DGS+7.8%

DEM vs DGS Performance

Oct 29, 2021 – Oct 30, 2026

+59.3%DEM+37.8%DGS

Expense ratio: DEM 0.63%; DGS 0.58%, better
Fund size: DEM $3.98B; DGS $1.59B
1Y total return: DEM +18.8%, better; DGS +7.3%
Yield (12M): DEM 3.40%; DGS 4.06%, better
Holdings: DEM 559; DGS 1121
Avg volume (30D): DEM 231K sh, better; DGS 43.3K sh
NAV per share: DEM $52.83; DGS $58.94
52W range

ETF.net Grade

Pillar letters and Scores for DEM, DGS, with each pillar’s weight
Pillar	DEM	DGS
Cost30% weight	F19	C51Higher
Mission25% weight	A99Higher	A98
Risk15% weight	B66Higher	D37
Tradability15% weight	A92Higher	C44
Holdings10% weight	B67	A88Higher
Durability5% weight	A75Higher	B65

Rank among Emerging Markets Dividend Index funds

How we build Categories ›

Same Category. DEM and DGS are both graded against the same 10 Emerging Markets Dividend Index funds, so their Grades compare head to head.

Emerging Markets Dividend Index⁠

Category · 10 funds

See all 10 ›

DEM ranks 4th and DGS 4th of 10 funds in the Emerging Markets Dividend Index Category.

Rank 1ADVYEiShares Emerging Markets Dividend ETFScore 70
Rank 1AEDIVState Street SPDR S&P Emerging Markets Dividend ETFScore 70
Rank 3BDIEMFranklin Emerging Market Core Dividend Tilt Index ETFScore 66
Rank 4BDEMWisdomTree Emerging Markets High Dividend FundScore 64
Rank 4BDGSWisdomTree Emerging Markets SmallCap Dividend FundScore 64
Rank 6CDGREWisdomTree Emerging Markets Quality Dividend Growth FundScore 48

Our read on each fund

ETF.net Research

DEMBWisdomTree Emerging Markets High Dividend Fund

DGSBWisdomTree Emerging Markets SmallCap Dividend Fund

In short

DEM One of the original emerging-market dividend ETFs (2007). DEM ranks EM payers by yield, keeps only the top slice, then weights them by the actual dollars of dividends they pay. Income-first EM, not market-cap EM.

DGS Most emerging-market dividend funds crowd into the giants. DGS goes the other way: roughly 1,100 dividend-paying small caps across the developing world, a corner it has worked since 2007.

Stated mandate

DEM The fund seeks to track high-dividend-yielding companies in emerging markets and provides targeted emerging-market all-cap equity exposure.

DGS The Fund seeks to track the investment results of dividend-paying small-cap companies in the emerging markets region.

Why people hold it

DEM Launched in 2007, it is one of the earliest EM high-dividend funds and has grown into a multi-billion-dollar portfolio spread across roughly 500 stocks.
Weights companies by the cash dividends they actually pay, so dividend dollars rather than market cap drive the portfolio, with weights reset at the annual screening.sec.gov
The screen is strict: only the highest-yielding 30% of WisdomTree's emerging-market dividend universe makes the index.sec.gov
Hugs its index closely and sits among the easier funds in its peer group to get in and out of.

DGS The down-cap tilt is the whole point. It screens for dividend payers among emerging-market small caps, a slice the large-cap EM dividend funds mostly skip.
Roughly 1,100 holdings spread the single-stock risk that usually comes with small caps, and payouts land quarterly.
Fee runs a shade under the typical emerging-market dividend fund at 0.58%, on a multi-billion-dollar fund that has been trading since 2007.
Sticks tight to its stated index, one of the cleaner implementations in its emerging-market dividend peer group.

Worth knowing

DEM At 0.63% a year it runs a touch above the typical fund in its peer group, and roughly triple index-tilt rival DIEM at 0.19%.
Buying dividend dollars pulls the basket toward the biggest payers in a handful of countries and sectors; the index applies country and sector caps at each annual screening.sec.gov
Payouts arrive quarterly and move with emerging-market dividends and currencies; a company paying today can stop paying tomorrow.wisdomtree.com

DGS Emerging-market small caps are a bumpy ride: local currency moves and single-country shocks hit harder here than in a large-cap EM fund.
It trades thin next to headline EM funds, so spreads are part of the cost. Limit orders and calm market hours matter more than usual.
0.58% is not cheap in absolute terms. Broad EM dividend exposure is available for less, such as DIEM at 0.19%, though without the small-cap focus.

Full DEM profile⁠

Full DGS profile⁠

DEM vs DGS Holdings

How DEM and DGS differ

Overlap by weight

23.2%

Shared holdings make up 46.4% of DGS and 26.4% of DEM.

Level by level

Holdings301 in both23.2%
Countryby domicile78.2%
Asset classEquity100%

Sector

No Sector split for DGS.

Country, concentration and asset class

Country by domicile

Country weights in DEM and DGS, widest gap first
Country	More in DEMMore in DGS	DEM	DGS
China	DEM +15.2 points	26.1%	10.9%
South Korea	DGS +4.7 points	7.0%	11.7%
Taiwan	DGS +4.1 points	20.5%	24.6%
India	DGS +3.8 points	6.2%	10.0%
Brazil	DEM +3.6 points	7.3%	3.7%
Malaysia	DGS +2.7 points	2.8%	5.5%
Mexico	DEM +2.1 points	5.4%	3.3%
Thailand	DGS +1.9 points	4.7%	6.6%
Other countries (9)	DGS +3.7 points	19.9%	23.6%

Outside the US: DEM 0% developed, 100% emerging. DGS 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

DEM23.4%
DGS8.7%

Securities held

DEM538
DGS1,105

Asset class

DEM: Equity
DGS: Equity

Holdings

Only in DEM237
In both301
Only in DGS804

Only in DEM

237 securities, 75.1% of DEM by weight

China Construction Bank-H4.08%
MediaTek Inc2.76%
Industrial & Commercial Bank of China-H2.47%
Petroleo Brasileiro SA2.41%
Grupo Financiero Banorte-O2.25%
Midea Group Co Ltd2.21%
Hon Hai Precision Industry Co2.08%
Hyundai Motor Co1.85%
Saudi Arabian Oil Co1.67%
Ping An Insurance Group Co of China1.57%
Industrial Bank Co Ltd -A1.43%
Infosys Ltd1.41%
CTBC Financial Holding Co Ltd1.35%
PetroChina Co Ltd1.31%
Orlen SA1.30%
Emaar Properties PJSC1.28%
Gold Fields Ltd1.25%
Quanta Computer Inc1.16%
PKO Bank Polski SA1.08%
National Commercial Bank0.96%
Fomento Economico Mexicano SAB0.95%
United Microelectronics Corp0.94%
Saudi Telecom Co0.93%
Tata Consultancy Services Ltd0.84%
China Shenhua Energy Co Ltd0.82%
FirstRand Ltd0.78%
Ambev S.A.0.72%
Asustek Computer Inc0.68%
Bank Rakyat Indonesia0.67%
Standard Bank Group Ltd0.64%
China Petroleum & Chemical Corp H0.63%
HCL Technologies Ltd0.60%
Ptt Pcl - Nvdr0.58%
CITIC Ltd0.58%
Malayan Banking Bhd0.57%
KT&G Corp0.54%
Coal India Ltd0.52%
Axia Energia0.52%
Fubon Financial Holding Co Ltd0.52%
Oil & Natural Gas Corp Ltd0.51%
Grupo Aeroportuario del Pacific0.51%
ABSA Group Ltd0.50%
Kookmin Bank0.50%
Evergreen Marine Corp Taiwan Ltd0.47%
ITC Ltd0.45%
Advanced Info Service PCL - NVDR0.44%
Saudi Arabian Fertilizer Co0.43%
Sibanye Stillwater Ltd0.40%
HD Korea Shipbuilding & Maring Engineering Co Ltd0.40%
Tupras Turkiye Petrol Rafine0.39%

Only in DGS

804 securities, 56.1% of DGS by weight

Tisco Financial Group PCL - NVDR0.55%
Topco Scientific Co Ltd0.43%
WPG Holdings Co Ltd0.43%
Westports Holdings Bhd0.43%
Grupa Kety SA0.42%
Banco Itau Chile Sa0.41%
TA Chen Stainless Pipe0.41%
National Aluminium Co Ltd0.39%
Bank of Suzhou Co Ltd CNY 1.00.36%
Transcend Information Inc0.36%
Korean Reinsurance Co0.36%
L&K Engineering Co Ltd0.35%
Cia de Saneamento de Minas Ger0.35%
Yankey Engineering Co Ltd0.35%
Kiatnakin Bank PCL - NVDR0.34%
Qilu Bank Co Ltd-A0.33%
Thai Oil PCL - NVDR0.33%
TIME dotCom Bhd0.32%
Micro-Star International Co Ltd0.31%
Great Eastern Shipping Co Ltd/0.31%
Zhejiang Longsheng Group Co Ltd0.31%
Bank Of Changsha Co Ltd-A0.30%
Pepkor Holdings Ltd0.30%
X-Trade Brokers Dom Maklersk0.29%
Sigurd Microelectronics Corp0.28%
KPJ Healthcare Bhd0.28%
Voltronic Power Technology Corp0.28%
Clicks Group Ltd0.27%
Colbun SA0.27%
Acer Inc0.27%
Chennai Petroleum Corp Ltd0.25%
DGB Financial Group Inc0.24%
Electrical Industries Co0.24%
Warsaw Stock Exchange0.23%
Grindrod Ltd0.23%
IJM Corp BHD0.23%
Giant Network Group Co Ltd-A0.23%
Santam Ltd0.23%
Walsin Lihwa Corp0.23%
Far Eastern International Bank0.22%
Kinik Co0.22%
Waterland Financial Holdings0.22%
Genius Electronic Optical Co Ltd0.22%
Ruentex Development Co Ltd0.22%
United Plantations BHD0.22%
S1 Corp0.22%
Huaan Securities Co Ltd-A0.22%
Mega Union Technology Inc0.22%
Bank Al-Jazira0.21%
Mphasis Ltd0.21%

Weight gaps

The 100 widest of 301 Holdings in both funds.

Holding weights in DEM and DGS, widest gap first
Holding	More in DEMMore in DGS	DEM	DGS
Old Mutual Ltd	DGS +0.97 points	0.03%	1.00%
Growthpoint Properties Ltd	DGS +0.83 points	0.39%	1.22%
Samsung Securities Co Ltd	DGS +0.68 points	0.03%	0.71%
Momentum Metropolitan Hldgs	DGS +0.60 points	0.02%	0.62%
AMMB Holdings Bhd	DGS +0.57 points	0.03%	0.60%
Moneta Money Bank AS	DGS +0.51 points	0.02%	0.53%
Alior Bank SA	DGS +0.50 points	0.01%	0.51%
Grupo Aeroportuario del Centro	DGS +0.50 points	0.26%	0.76%
Investec Ltd	DGS +0.47 points	0.03%	0.50%
Highwealth Construction Corp	DGS +0.42 points	0.34%	0.76%
Redefine Properties Ltd	DGS +0.43 points	0.30%	0.73%
Jeonbuk Bank	DGS +0.41 points	0.02%	0.43%
Qualitas Controladora SAB de CV	DGS +0.40 points	<0.01%	0.41%
Masraf Al Rayan	DGS +0.40 points	0.05%	0.45%
Qatar International Islamic Ba	DGS +0.37 points	0.02%	0.39%
Tiger Brands Ltd	DGS +0.36 points	0.22%	0.58%
BS Financial Group Inc	DGS +0.36 points	0.03%	0.39%
Banco Del Bajio Sa	DGS +0.36 points	0.01%	0.37%
Budimex	DGS +0.35 points	0.16%	0.51%
LG Uplus Corp	DGS +0.34 points	0.14%	0.48%
Compartamos SAB de CV	DGS +0.31 points	<0.01%	0.32%
Metropolitan Bank & Trust	DGS +0.31 points	0.02%	0.33%
Mobile Telecommunications Co	DEM +0.29 points	0.46%	0.17%
Mr Price Group Ltd	DGS +0.29 points	0.10%	0.39%
Orange Polska SA	DGS +0.28 points	0.15%	0.43%
Kiwoom Securities Co Ltd	DGS +0.28 points	0.02%	0.30%
Yanbu National Petrochemical Co	DGS +0.25 points	0.11%	0.36%
Bidvest Group Ltd	DGS +0.25 points	0.22%	0.47%
Sime Darby Bhd	DGS +0.23 points	0.16%	0.39%
Asseco Poland SA	DGS +0.23 points	0.23%	0.46%
AVI Ltd	DGS +0.23 points	0.20%	0.43%
Saudi Investment Bank/The	DGS +0.22 points	0.05%	0.27%
Lojas Renner SA	DGS +0.22 points	0.13%	0.35%
CIA de Saneamento Do Pa-Unit	DGS +0.20 points	0.11%	0.31%
Coronation Fund Managers Ltd	DGS +0.20 points	0.02%	0.22%
Synnex Technology International Corp	DGS +0.20 points	0.20%	0.40%
Makalot Industrial Co Ltd	DGS +0.19 points	0.03%	0.22%
Thaifoods Group PCL-Nvdr	DGS +0.19 points	0.22%	0.41%
Cheil Worldwide Inc	DGS +0.19 points	0.12%	0.31%
Daishin Securities Co Ltd	DGS +0.18 points	<0.01%	0.18%
Osotspa PCL-Nvdr	DGS +0.17 points	0.12%	0.29%
Sunshine Insurance Group C-H	DGS +0.18 points	0.01%	0.19%
Thai Life Insurance Pcl	DGS +0.17 points	<0.01%	0.18%
Adaro Andalan Indonesia Pt	DGS +0.17 points	0.17%	0.35%
Nahdi Medical Co	DGS +0.16 points	<0.01%	0.17%
Aguas Andinas SA	DGS +0.16 points	0.10%	0.26%
China Communications Services	DGS +0.16 points	0.10%	0.26%
Transmissora Alianca de Energia Eletrica SA	DGS +0.15 points	0.15%	0.30%
Supalai PCL - NVDR	DGS +0.16 points	0.07%	0.23%
Motus Holdings Ltd	DGS +0.15 points	0.14%	0.29%
Dukhan Bank	DGS +0.15 points	0.01%	0.16%
Kimberly-Clark de Mexico SAB d	DGS +0.14 points	0.22%	0.36%
China Reinsurance Group Corp	DGS +0.13 points	<0.01%	0.14%
Home Product Center PCL	DGS +0.14 points	0.09%	0.23%
Hyundai Elevator Co Ltd	DGS +0.14 points	0.17%	0.31%
Electricity Generating PCL - NVDR	DGS +0.14 points	0.12%	0.26%
Shinkong Insurance Co Ltd	DGS +0.14 points	0.01%	0.15%
Getac Technology Corp	DGS +0.14 points	0.14%	0.28%
Country Garden Services Hldgs	DGS +0.12 points	0.11%	0.23%
Bolsa Mexicana de Valores SAB	DGS +0.12 points	<0.01%	0.12%
Da-Li Development Co Ltd	DEM +0.11 points	0.15%	0.04%
WHA Corp PCL - NVDR	DGS +0.12 points	0.12%	0.24%
Anhui Expressway Co	DGS +0.12 points	0.14%	0.26%
Thai Union Group PCL - NVDR	DGS +0.12 points	0.10%	0.22%
Abdullah Al Othaim Markets Co	DGS +0.11 points	<0.01%	0.12%
Foschini Group Ltd/The	DEM +0.11 points	0.14%	0.03%
Hypermarcas SA	DGS +0.11 points	0.09%	0.20%
Bank of Chongqing Co Ltd	DGS +0.11 points	0.01%	0.12%
Banregio Grupo Financiero SAB	DGS +0.11 points	<0.01%	0.11%
Far Eastern New Century Corp	DGS +0.10 points	0.22%	0.32%
Resilient Property Income Fund	DGS +0.10 points	0.17%	0.27%
Mahle-Metal Leve SA Industria	DGS +0.10 points	0.05%	0.15%
Weilong Delicious Global Hol	DGS +0.09 points	<0.01%	0.10%
Yamama Cement Co	DEM +0.10 points	0.12%	0.02%
Tigerair Taiwan Co Ltd	DGS +0.09 points	<0.01%	0.10%
Yihai International Holding	DGS +0.10 points	0.14%	0.24%
Fusheng Precision Co Ltd	DEM +0.10 points	0.13%	0.03%
Megacable Holdings SAB de CV	DGS +0.10 points	0.16%	0.26%
Aneka Tambang Tbk PT	DGS +0.09 points	0.15%	0.24%
Petronas Dagangan BHD	DGS +0.09 points	0.13%	0.22%
Huaku Development Co Ltd	DGS +0.09 points	0.08%	0.17%
Qatar Electricity & Water Co	DGS +0.09 points	0.16%	0.25%
Dongsuh Co Inc	DGS +0.09 points	0.10%	0.19%
Eclat Textile Co Ltd	DGS +0.09 points	0.18%	0.27%
Wowprime Corp	DEM +0.09 points	0.12%	0.03%
Carlsberg Brewery-Malay BHD	DEM +0.08 points	0.10%	0.02%
Great Wall Enterprise Co	DGS +0.08 points	0.05%	0.13%
Elan Microelectronics Corp	DEM +0.08 points	0.11%	0.03%
JNBY Design Ltd	DGS +0.08 points	0.12%	0.20%
Netcare Ltd	DGS +0.08 points	0.16%	0.24%
Prima Marine PCL-Nvdr	DGS +0.08 points	0.08%	0.16%
JWD Infologistics Pcl-Nvdr	DGS +0.07 points	<0.01%	0.08%
Cheng Shin Rubber Industry Co	DGS +0.07 points	0.17%	0.24%
Ruentex Engineering & Construc	DEM +0.08 points	0.12%	0.04%
Sar	DGS +0.07 points	1.52%	1.59%
Gushengtang Holdings Ltd	DEM +0.07 points	0.10%	0.03%
Qassim Cement Co/The	DEM +0.07 points	0.13%	0.06%
Syarikat Takaful Malaysia Bhd	DGS +0.06 points	<0.01%	0.07%
Feng TAY Enterprise Co Ltd	DGS +0.07 points	0.16%	0.23%
Cury Construtora E Inc	DGS +0.06 points	0.12%	0.18%

All 502 DEM holdings⁠All 1,097 DGS holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DEM vs DGS Cost

Overpaying DEM vs DGS

$906

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DEM 0.63%
$12,359
DGS 0.58%
$11,453

Amount$10,000

Years30 years

Cost over time

DEM 0.63%
DGS 0.58%
Overpaying

Year by year

Year	DEM	DGS	Overpaying
10	$1,128	$1,041	$87
20	$4,311	$3,986	$325
30	$12,359	$11,453	$906

Expense ratio

0.63%DEM
0.58%DGS, cheaper

DGS0.58%DEM0.63%

0.19%0.66%

Middle half of Emerging Markets Dividend Index funds
Median 0.59%

DGS 5th cheapest of 10 funds

DEM 8th cheapest of 10 funds

DEM vs DGS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DEM 3.40%; DGS 4.06%, better
Payout (12M): DEM $1.80; DGS $2.38
Last payment: DEM $0.77; DGS $0.76
Ex-dividend: DEM Sep 25, 2026; DGS Sep 25, 2026
Paid on: DEM Sep 29, 2026; DGS Sep 29, 2026
Frequency: DEM Quarterly; DGS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DEMQuarterly · 37 paymentsAll DEM payments⁠

DGSQuarterly · 37 paymentsAll DGS payments⁠

DEM vs DGS Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: DEM 10.0%, betterDGS 13.4%
Return per unit of riskSharpe ratio, 3 years: DEM 1.29, betterDGS 0.71
Worst fallMax drawdown, 5 years: DEM −27.1%DGS −24.6%, better
Market sensitivityBeta, 5 years: DEM 0.73DGS 0.92; Market = 1

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