DFE vs FNDC: Grades, Fees and Holdings Compared

WisdomTree Europe SmallCap Dividend Fund

DFECNYSE Arca

Schwab Fundamental International Small Company Index ETF

FNDCANYSE Arca

Overlap

6.4%by weight

Expense ratio

FNDC −0.19pt a year

DFE0.58%FNDC0.39%

Avg volume · 30D

FNDC 14.6×the volume

DFE6.36KFNDC92.6K

10Y return · a year

FNDC +0.6pt

DFE+7.8%FNDC+8.4%

DFE vs FNDC Performance

Nov 2, 2021 – Nov 2, 2026

+27.3%DFE+44.9%FNDC

Expense ratio: DFE 0.58%; FNDC 0.39%, better
Fund size: DFE $161M; FNDC $3.04B
1Y total return: DFE +13.5%; FNDC +15.6%, better
Yield (12M): DFE 4.02%, better; FNDC 3.66%
Holdings: DFE 435; FNDC 1581
Avg volume (30D): DFE 6.36K sh; FNDC 92.6K sh, better
NAV per share: DFE $74.75; FNDC $49.16
52W range

ETF.net Grade

Pillar letters and Scores for DFE, FNDC, with each pillar’s weight
Pillar	DFE	FNDC
Cost30% weight	D27	A70Higher
Mission25% weight	A93	A100Higher
Risk15% weight	C49	B62Higher
Tradability15% weight	B57	A71Higher
Holdings10% weight	D37	B60Higher
Durability5% weight	C42	B64Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. DFE and FNDC are both graded against the same 16 International Small-Cap funds, so their Grades compare head to head.

International Small-Cap⁠

Category · 16 funds

See all 16 ›

FNDC ranks 4th and DFE 10th of 16 funds in the International Small-Cap Category.

Rank 1ASCZiShares MSCI EAFE Small-Cap ETFScore 79
Rank 1AVSSVanguard FTSE All-World ex-US Small-Cap ETFScore 79
Rank 3ASCHCSchwab International Small-Cap Equity ETFScore 78
Rank 4AFNDCSchwab Fundamental International Small Company Index ETFScore 75
Rank 5ADFISDimensional International Small Cap ETFScore 74
Rank 9BIEUSiShares MSCI Europe Small-Cap ETFScore 59
Rank 10CDFEWisdomTree Europe SmallCap Dividend FundScore 52
Rank 11CDDLSWisdomTree Dynamic International SmallCap Equity ETFScore 50

Our read on each fund

ETF.net Research

DFECWisdomTree Europe SmallCap Dividend Fund

FNDCASchwab Fundamental International Small Company Index ETF

In short

DFE A 2006-vintage fund that weights European small caps by the cash dividends they pay, not by market size. Most rivals in the international small-cap aisle go broad and cap-weighted. This one goes regional and income-tilted.

FNDC Schwab's contrarian cut of international small caps: instead of letting share price set position size, FNDC weights roughly 1,600 developed-market small companies by fundamental measures of size, which bakes in a value tilt.

Stated mandate

DFE The share class aims to follow the pre-fee price and yield performance of the WisdomTree Europe SmallCap Dividend UCITS Index.

FNDC The fund seeks to track, before fees and expenses, the total return of an index measuring small non-U.S. developed-market companies according to fundamental size and weighting.

Why people hold it

DFE Weights holdings by annual cash dividends paid rather than market cap, so the roughly 400-stock basket tilts toward payers instead of whatever small cap is running hottest.wisdomtree.com
Pure Europe small cap, no Japan or Pacific filler. Broad peers like SCHC, VSS and SCZ spread across every developed market, so this is the narrower dial.
The index screens candidates on quality and momentum (WisdomTree's composite risk score) before weighting them, and income goes out quarterly.
Trading since its 2006 launch, and it still does what the name says: European small caps that pay dividends, tracked against a stated index.

FNDC Weights companies by fundamental measures of size rather than share price, so a stock's weight does not climb simply because the market bid it up.
Roughly 1,600 names spread across developed markets outside the US. Broad enough that no single small-cap story drives the fund.
Trading since 2013 and now a multi-billion-dollar fund that stays inside its lane: developed-market small companies, no drift into emerging markets or larger caps.
At 0.39%, one of the better-standing implementations in a peer group where the typical fund charges about the same.

Worth knowing

DFE The 0.58% fee runs above the typical international small-cap fund, and plain cap-weighted peers like SCHC and VSS charge a small fraction of that.
Thinly traded next to the category's giants, so the bid-ask spread becomes part of the real cost, most of all on large or hurried orders.
One region, smaller companies, and European currency moves baked into returns: the ride can be bumpier than a globally spread small-cap blend.

FNDC The fundamental weighting costs extra: plain cap-weighted siblings SCHC and VSS charge 0.06% against 0.39% here.
A value tilt means results can diverge from standard cap-weighted international small-cap indexes for long stretches, in either direction.
Cash comes in lumps: distributions are annual or semiannual, not monthly, and the fund trades moderately rather than like the category's busiest names.

Full DFE profile⁠

Full FNDC profile⁠

DFE vs FNDC Holdings

How DFE and FNDC differ

Overlap by weight

6.4%

Shared holdings make up 49.4% of DFE and 6.4% of FNDC.

Level by level

Holdings132 in both6.4%
Countryby domicile35.7%
Sector11 Sectors91.0%
Asset classEquity100%

Sector

Sector weights in DFE and FNDC, widest gap first
Sector	More in DFEMore in FNDC	DFE	FNDC
Industrials	DFE +7.0 points	31.7%	24.7%
Technology	FNDC +2.2 points	6.5%	8.7%
Materials	FNDC +1.9 points	8.0%	9.9%
Consumer Staples	FNDC +1.9 points	4.1%	6.0%
Real Estate	FNDC +1.2 points	5.9%	7.1%
Communication	DFE +1.1 points	6.3%	5.2%
Utilities	DFE +0.8 points	3.2%	2.4%
Financials	FNDC +0.6 points	12.2%	12.8%
Health Care	FNDC +0.6 points	5.2%	5.8%
Consumer Discretionary	FNDC +0.4 points	12.5%	12.9%
Energy	Same weight	4.4%	4.4%

Country, concentration and asset class

Country by domicile

Country weights in DFE and FNDC, widest gap first
Country	More in DFEMore in FNDC	DFE	FNDC
Japan	FNDC +30.5 points	0.0%	30.5%
United Kingdom	DFE +22.5 points	31.3%	8.8%
Sweden	DFE +11.6 points	15.5%	3.9%
Norway	DFE +10.2 points	12.3%	2.1%
Canada	FNDC +7.9 points	0.0%	7.9%
South Korea	FNDC +7.7 points	0.0%	7.7%
Australia	FNDC +5.4 points	0.0%	5.4%
Germany	DFE +3.1 points	6.8%	3.7%
Other countries (24)	DFE +3.9 points	34.1%	30.2%

Outside the US: DFE 99% developed, 1% emerging. FNDC 88% developed, 12% emerging.

Concentration

Weight in the 10 largest Holdings

DFE10.1%
FNDC2.5%

Securities held

DFE427
FNDC1,565

Asset class

DFE: Equity
FNDC: Equity

Holdings

Only in DFE295
In both132
Only in FNDC1,433

Only in DFE

295 securities, 50.5% of DFE by weight

Hammerson Plc1.01%
Proximus SA0.95%
Banco di Desio e della Brianza0.71%
AJ Bell Plc0.68%
Anima Holding SpA0.64%
Hacksaw Ab0.61%
Puuilo Oyj0.59%
Clas Ohlson AB0.59%
Montea Nv0.58%
Cairn Homes Plc0.57%
Chesnara PLC0.55%
Metrovacesa Sa0.55%
Cloetta AB0.54%
Biogaia Ab-B Shs0.52%
Paratus Energy Services Ltd0.47%
Csm0.46%
Argan0.46%
Etablissements Maurel et Prom0.43%
CA Immobilien Anlagen AG0.43%
Plastic Omnium SA0.43%
Firstgroup PLC0.41%
Dermapharm Holding SE0.40%
Corticeira Amorim SGPS SA0.40%
Workspace Group PLC0.38%
Northgate PLC0.37%
Pluxee France Sa0.37%
Conduit Holdings Ltd0.36%
Foresight Group Holdings Ltd0.35%
Kainos Group Plc0.35%
Melia Hotels International0.34%
Burkhalter Holding Ag0.34%
Sentia As0.33%
Xior Student Housing NV0.33%
Catena AB0.31%
Sabre Insurance Group Plc0.31%
Nyfosa Ab0.30%
Prosegur Cia de Seguridad SA0.30%
Integrafin Holdings Plc0.30%
Sparebank 1 Oestlandet0.30%
Mlp AG0.30%
Halfords Group PLC0.29%
Klaveness Combination Carrie0.29%
Outokumpu OYJ0.29%
Galliford Try Holdings Plc0.29%
Odfjell Se-A Shs0.29%
Grand City Properties0.29%
Sanlorenzo Spa/Ameglia0.28%
Porr Ag0.27%
Solstad Offshore Asa0.27%
Pexip Holding Asa0.27%

Only in FNDC

1,433 securities, 93.5% of FNDC by weight

Gfl Environmental Subordinate Voti0.35%
Samsung E&A Ltd0.33%
Ibiden Ltd0.27%
Easyjet0.26%
Baytex Energy0.25%
Helvetia Baloise Holding N AG0.23%
Nippon Paint Holdings0.23%
Oriental Land0.22%
Qiagen0.21%
Samsung Life Ltd0.21%
Russel Metals0.21%
Konami Group0.21%
Getinge Class B0.21%
Trend Micro0.20%
Evolution0.20%
Valmet Corp0.20%
Sopra Steria Group SA0.20%
Meritz Financial Group Inc0.20%
Coway Ltd0.20%
Orion Class B0.20%
Frontline PLC0.20%
Imi PLC0.19%
Gibson Energy0.19%
Parex Resources0.19%
Northland Power Inc0.19%
Alten SA0.19%
Man Group PLC0.19%
Nissan Chemical Corp0.19%
Nice Adr Representing0.18%
Howden Joinery Group PLC0.18%
Harbour Energy PLC0.18%
Talanx AG0.18%
Taiyo Yuden Ltd0.18%
Edenred0.18%
Andritz AG0.18%
Tokai Carbon Ltd0.18%
Clariant AG0.18%
Atkinsrealis Group Inc0.18%
Hulic0.17%
Rb Global0.17%
Dl E&C Ltd0.17%
Asics0.17%
Nibe Industrier Class B0.17%
Bankinter0.17%
Sig Group N AG0.17%
Tate and Lyle PLC0.17%
Gs Engineering & Construction Corp0.17%
Hafnia0.17%
Mirvac Group Stapled Units0.17%
Treasury Wine Estates Ltd0.17%

Weight gaps

The 100 widest of 132 Holdings in both funds.

Holding weights in DFE and FNDC, widest gap first
Holding	More in DFEMore in FNDC	DFE	FNDC
Odfjell Drilling Ltd	DFE +1.47 points	1.51%	0.04%
Bluenord Asa	DFE +1.00 points	1.06%	0.06%
Pennon Group PlcPNN.L	DFE +0.91 points	1.01%	0.10%
Dunelm Group PLCDNLM.L	DFE +0.90 points	0.95%	0.05%
Dno Asa	DFE +0.84 points	0.97%	0.13%
Stroeer SE & Co KGaA	DFE +0.81 points	0.87%	0.06%
REN - Redes Energeticas Nacion	DFE +0.81 points	0.86%	0.05%
Lancashire Holdings LtdLRE.L	DFE +0.79 points	0.86%	0.07%
Aker Solutions ASA	DFE +0.72 points	0.79%	0.07%
Bekaert SA	DFE +0.68 points	0.74%	0.06%
Greggs PLCGRG.L	DFE +0.66 points	0.82%	0.16%
Elekta AB	DFE +0.65 points	0.74%	0.09%
Sirius Real Estate LtdSRE.L	DFE +0.64 points	0.67%	0.03%
Koninklijke Heijmans NV	DFE +0.64 points	0.69%	0.06%
OSB Group PlcOSB.L	DFE +0.63 points	0.70%	0.08%
Morgan Sindall Group PLCMGNS.L	DFE +0.61 points	0.68%	0.07%
Eurocommercial Properties Nv	DFE +0.59 points	0.62%	0.03%
Ninety One Plc	DFE +0.57 points	0.61%	0.04%
Polar Capital Holdings PLCPOLR.L	DFE +0.55 points	0.58%	0.03%
Peab AB	DFE +0.53 points	0.59%	0.06%
Moneysupermarket.com Group PLCMONY.L	DFE +0.53 points	0.58%	0.05%
Atea ASA	DFE +0.53 points	0.57%	0.04%
Veidekke ASA	DFE +0.53 points	0.57%	0.04%
Derwent London PLCDLN.L	DFE +0.51 points	0.57%	0.06%
Mpc Container Ships As	DFE +0.50 points	0.60%	0.10%
Bilfinger SE	DFE +0.50 points	0.56%	0.06%
Savills PLCSVS.L	DFE +0.49 points	0.59%	0.10%
Ipsos	DFE +0.49 points	0.58%	0.09%
Keller Group PLCKLR.L	DFE +0.48 points	0.60%	0.12%
OC Oerlikon Corp AG	DFE +0.45 points	0.52%	0.07%
Paragon Group of Cos PLCPAG.L	DFE +0.45 points	0.51%	0.06%
Wihlborgs Fastigheter Ab	DFE +0.45 points	0.48%	0.03%
Bilia AB	DFE +0.42 points	0.46%	0.04%
Stolt-Nielsen Ltd	DFE +0.43 points	0.47%	0.04%
4imprint Group PLCFOUR.L	DFE +0.41 points	0.46%	0.05%
Sparebank 1 Nord Norge	DFE +0.42 points	0.46%	0.04%
Grainger PLCGRI.L	DFE +0.41 points	0.45%	0.04%
Norconsult As	DFE +0.41 points	0.43%	0.02%
TietoEVRY Corp	DFE +0.40 points	0.54%	0.14%
Havas Nv	DFE +0.39 points	0.42%	0.03%
Saf-Holland Se	DFE +0.37 points	0.41%	0.04%
Navigator Co SA	DFE +0.37 points	0.41%	0.04%
Construcc Y Aux De Ferrocarr	DFE +0.37 points	0.41%	0.04%
Scandic Hotels Group Ab	DFE +0.37 points	0.43%	0.06%
Thule Group AB/The	DFE +0.35 points	0.42%	0.07%
Domino's Pizza Group PLCDOM.L	DFE +0.35 points	0.41%	0.06%
Coats Group PlcCOA.L	DFE +0.35 points	0.40%	0.05%
Linea Directa Aseguradora Sa	DFE +0.34 points	0.36%	0.02%
Imerys SA	DFE +0.33 points	0.39%	0.06%
Indus Holding AG	DFE +0.33 points	0.34%	<0.01%
Serica Energy PlcSQZ.L	DFE +0.32 points	0.38%	0.06%
Clarkson PlcCKN.L	DFE +0.31 points	0.37%	0.06%
Gestamp Automocion Sa	DFE +0.31 points	0.34%	0.03%
Wacker Neuson SE	DFE +0.31 points	0.34%	0.03%
Louis Hachette Group	DFE +0.31 points	0.33%	0.02%
Europris Asa	DFE +0.31 points	0.35%	0.04%
Fabege AB	DFE +0.31 points	0.33%	0.02%
Vesuvius PLCVSVS.L	DFE +0.30 points	0.36%	0.06%
Jupiter Fund Management PLCJUP.L	DFE +0.29 points	0.32%	0.03%
Granges AB	DFE +0.28 points	0.34%	0.06%
FAES Farma SA	DFE +0.27 points	0.29%	0.02%
Cementir Holding NV	DFE +0.27 points	0.30%	0.03%
D/S Norden	DFE +0.27 points	0.36%	0.09%
Breedon Group PlcBREE.L	DFE +0.26 points	0.33%	0.07%
Kier Group PLCKIE.L	DFE +0.26 points	0.34%	0.08%
Morgan Advanced Materials PLCMGAM.L	DFE +0.25 points	0.30%	0.05%
Terveystalo Oyj	DFE +0.25 points	0.27%	0.02%
Hilton Food Group LtdHFG.L	DFE +0.25 points	0.27%	0.02%
OVS SpA	DFE +0.25 points	0.29%	0.04%
Duerr AG	DFE +0.24 points	0.28%	0.04%
AF Gruppen ASA	DFE +0.23 points	0.25%	0.02%
Victrex PLCVCT.L	DFE +0.24 points	0.29%	0.05%
Academedia Ab	DFE +0.23 points	0.27%	0.04%
Scandinavian Tobacco Group A/S	DFE +0.23 points	0.27%	0.04%
Telecom Plus PLCTEP.L	DFE +0.23 points	0.27%	0.04%
RHI Magnesita NVRHIM.L	DFE +0.23 points	0.25%	0.02%
Per Aarsleff Holding AS B	DFE +0.23 points	0.27%	0.04%
Borregaard ASA	DFE +0.22 points	0.25%	0.03%
Wickes Group PlcWIX.L	DFE +0.21 points	0.23%	0.02%
SSP Group PlcSSPG.L	DFE +0.21 points	0.28%	0.07%
Remy Cointreau SA	DFE +0.20 points	0.25%	0.05%
Elecnor SA	DFE +0.19 points	0.23%	0.04%
Verallia	DFE +0.18 points	0.21%	0.03%
James Halstead PLCJHD.L	DFE +0.19 points	0.20%	0.01%
Fagron	DFE +0.18 points	0.22%	0.04%
Premier Foods PlcPFD.L	DFE +0.18 points	0.23%	0.05%
Nolato Ab-B Shs	DFE +0.18 points	0.20%	0.02%
Palfinger AG	DFE +0.17 points	0.19%	0.02%
Mayr Melnhof Karton AG	DFE +0.18 points	0.21%	0.03%
Alleima Ab	DFE +0.17 points	0.23%	0.06%
Softwareone Holding Ag	DFE +0.17 points	0.21%	0.04%
Inwido AB	DFE +0.17 points	0.21%	0.04%
Billerud AB	DFE +0.16 points	0.26%	0.10%
Cancom SE	DFE +0.17 points	0.20%	0.03%
Attendo AB	DFE +0.16 points	0.21%	0.05%
Wetherspoon (J.D.) PlcJDW.L	DFE +0.16 points	0.21%	0.05%
Pets at Home Group PlcPETS.L	DFE +0.15 points	0.21%	0.06%
Befesa Sa	DFE +0.15 points	0.21%	0.06%
Bakkafrost P/F	DFE +0.14 points	0.20%	0.06%
Bonheur Asa	DFE +0.14 points	0.16%	0.02%

All 391 DFE holdings⁠All 1,583 FNDC 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.

DFE vs FNDC Cost

Overpaying DFE vs FNDC

$3,555

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

DFE 0.58%
$11,453
FNDC 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

DFE 0.58%
FNDC 0.39%
Overpaying

Year by year

Year	DFE	FNDC	Overpaying
10	$1,041	$705	$336
20	$3,986	$2,725	$1,261
30	$11,453	$7,898	$3,555

Expense ratio

0.58%DFE
0.39%FNDC, cheaper

FNDC0.39%DFE0.58%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

FNDC 4th cheapest of 16 funds

DFE 12th cheapest of 16 funds

DFE vs FNDC Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DFE 4.02%, better; FNDC 3.66%
Payout (12M): DFE $3.02; FNDC $1.80
Last payment: DFE $0.52; FNDC $0.28
Ex-dividend: DFE Sep 25, 2026; FNDC Jun 24, 2026
Paid on: DFE Sep 29, 2026; FNDC Jun 29, 2026
Frequency: DFE Quarterly; FNDC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DFEQuarterly · 40 paymentsAll DFE payments⁠

FNDCTwice a year · 18 paymentsAll FNDC payments⁠

DFE vs FNDC Risk

Fall from peak · 5 years

DFE
FNDC

Risk facts

VolatilityStd dev, 3 years: DFE 14.7%FNDC 13.3%, better
Return per unit of riskSharpe ratio, 3 years: DFE 0.97FNDC 1.14, better
Worst fallMax drawdown, 5 years: DFE −38.3%FNDC −30.8%, better
Market sensitivityBeta, 5 years: DFE 1.00FNDC 1.04; Market = 1

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