DWMF vs FDEV: Grades, Fees and Holdings Compared

WisdomTree International Multifactor Fund

DWMFDNYSE Arca

Fidelity International Multifactor ETF

FDEVACboe

Overlap

25.7%by weight

Expense ratio

FDEV −0.20pt a year

DWMF0.38%FDEV0.18%

Avg volume · 30D

FDEV 24.1×the volume

DWMF1.22KFDEV29.3K

5Y return · a year

DWMF +0.3pt

DWMF+8.1%FDEV+7.8%

DWMF vs FDEV Performance

Oct 29, 2021 – Oct 30, 2026

+47.8%DWMF+45.8%FDEV

Expense ratio: DWMF 0.38%; FDEV 0.18%, better
Fund size: DWMF $33M; FDEV $276M
1Y total return: DWMF +5.8%; FDEV +16.6%, better
Yield (12M): DWMF 2.99%; FDEV 3.27%, better
Holdings: DWMF 214; FDEV 210
Avg volume (30D): DWMF 1.22K sh; FDEV 29.3K sh, better
NAV per share: DWMF $33.05; FDEV $37.31
52W range

ETF.net Grade

Pillar letters and Scores for DWMF, FDEV, with each pillar’s weight
Pillar	DWMF	FDEV
Cost30% weight	C40	A91Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B55	A78Higher
Tradability15% weight	F4	B59Higher
Holdings10% weight	B58Higher	C48
Durability5% weight	D38	C42Higher

Rank among International Multifactor funds

How we build Categories ›

Same Category. DWMF and FDEV are both graded against the same 30 International Multifactor funds, so their Grades compare head to head.

International Multifactor⁠

Category · 30 funds

See all 30 ›

FDEV ranks 4th and DWMF 23rd of 30 funds in the International Multifactor Category.

Rank 1AINTFiShares International Equity Factor ETFScore 79
Rank 2ADFAIDimensional International Core Equity Market ETFScore 77
Rank 3AGSWOGoldman Sachs ActiveBeta World Equity ETFScore 76
Rank 4AFDEVFidelity International Multifactor ETFScore 73
Rank 5ARODMHartford Multifactor Developed Markets (ex-US) ETFScore 71
Rank 21DRWINRayliant NxtGen Multifactor International Equity ETFScore 38
Rank 23DDWMFWisdomTree International Multifactor FundScore 37
Rank 23DIFLOVictoryShares International Free Cash Flow ETFScore 37

Our read on each fund

ETF.net Research

DWMFDWisdomTree International Multifactor Fund

FDEVAFidelity International Multifactor ETF

In short

DWMF Most international factor ETFs pick the stocks and let the currency chips fall where they may. DWMF is actively managed and bolts a dynamic dollar hedge onto its value, quality, momentum and correlation screens.

FDEV Four factors (value, quality, momentum, low volatility) blended into one developed-markets index fund at 0.18% a year. Fidelity's answer to paying up for a single-factor tilt overseas.

Stated mandate

DWMF The Fund seeks capital appreciation through primary investments in equities of developed countries outside the United States and Canada. It selects securities using composite scores based on value, quality, momentum and WisdomTree TAPE.

FDEV The fund seeks returns generally corresponding to the Fidelity International Multifactor Index before fees and expenses.

Why people hold it

DWMF Two jobs in one ticker: a composite score built from value and quality fundamentals plus momentum and correlation signals, then a currency overlay applied currency by currency.wisdomtree.com wisdomtree.com 2
Actively managed rather than index-locked, so hedge ratios are weighted by conviction in each signal instead of following a fixed schedule.wisdomtree.com
The 0.38% fee sits right at the middle of the international multifactor pack, and it covers the stock selection and the currency work in one wrapper.
Roughly 220 developed-market names outside the US and Canada, so no single stock carries the whole thesis.

FDEV 0.18% a year, less than half the typical fee in its international multifactor group, and within a rounding error of the cheapest name there (INTF at 0.16%).
One index does the work of four screens: value, quality, momentum and low volatility applied together, instead of you stacking separate single-factor funds.
Roughly 220 developed-market stocks outside the US, picked by published index rules rather than a manager's hunches, with cash paid out quarterly.
Sits in the top quartile of a 29-fund international factor cohort, which is a crowded field full of far pricier attempts at the same job.

Worth knowing

DWMF A small, thinly traded fund that lands in the lower half of its international multifactor peer group, with trading costs and scale the main drag.
Index-based rivals undercut it on fees: INTF at 0.16%, FDEV at 0.18%, GSIE at 0.25%. The active stock and currency layer is what the extra buys.
The currency overlay is a second engine, so results can diverge from unhedged developed-market benchmarks in either direction.wisdomtree.com

FDEV Thinly traded. Spreads can quietly cost more than the fee, so limit orders matter more here than with the category's household names.
A 2019 launch still in the mid-size asset range, so there is no decades-long record to lean on the way older international index funds offer.
Blending four factors means none of them drives the bus. When value or momentum alone runs hot, this owns only a slice of that move.

Full DWMF profile⁠

Full FDEV profile⁠

DWMF vs FDEV Holdings

How DWMF and FDEV differ

Overlap by weight

25.7%

Shared holdings make up 31.4% of FDEV and 31.0% of DWMF.

Level by level

Holdings52 in both25.7%
Sector11 Sectors76.1%
Countryby domicile77.7%
Asset classEquity100%

Sector

Sector weights in DWMF and FDEV, widest gap first
Sector	More in DWMFMore in FDEV	DWMF	FDEV
Financials	DWMF +6.4 points	30.4%	24.0%
Energy	FDEV +6.1 points	5.4%	11.5%
Utilities	DWMF +6.1 points	6.1%	0.0%
Consumer Staples	FDEV +5.4 points	2.9%	8.3%
Technology	DWMF +5.4 points	11.6%	6.2%
Real Estate	FDEV +5.2 points	1.2%	6.4%
Communication	FDEV +4.7 points	3.8%	8.5%
Materials	DWMF +3.7 points	7.4%	3.7%
Consumer Discretionary	DWMF +2.5 points	6.0%	3.5%
Health Care	FDEV +2.0 points	11.3%	13.3%
Industrials	FDEV +0.5 points	14.0%	14.5%

Country, concentration and asset class

Country by domicile

Country weights in DWMF and FDEV, widest gap first
Country	More in DWMFMore in FDEV	DWMF	FDEV
Canada	FDEV +14.9 points	0.0%	14.9%
Italy	DWMF +4.5 points	6.1%	1.6%
Germany	DWMF +4.0 points	7.6%	3.6%
Switzerland	DWMF +2.4 points	7.4%	5.0%
Japan	DWMF +2.2 points	24.6%	22.4%
Sweden	DWMF +2.0 points	5.6%	3.6%
France	FDEV +1.6 points	6.0%	7.6%
Singapore	FDEV +1.5 points	1.3%	2.8%
Other countries (17)	DWMF +2.9 points	41.4%	38.5%

Outside the US: DWMF 99% developed, 1% emerging. FDEV 97% developed, 3% emerging.

Concentration

Weight in the 10 largest Holdings

DWMF13.4%
FDEV15.6%

Securities held

DWMF200
FDEV198

Asset class

DWMF: Equity
FDEV: Equity

Holdings

Only in DWMF148
In both52
Only in FDEV146

Only in DWMF

148 securities, 68.3% of DWMF by weight

InterContinental Hotels Group1.65%
Dufry AG1.52%
Advantest Corp1.07%
Allianz SE0.97%
Siemens Ag-Reg0.86%
Recruit Holdings Co Ltd0.81%
Mitsubishi UFJ Financial Group0.80%
Astellas Pharma Inc0.80%
Banco Bilbao Vizcaya Argentaria SA0.77%
UniCredit SpA0.72%
ENI SpA0.72%
Tokyo Electron Ltd0.70%
Enel SpA0.69%
Rolls-Royce Holdings PLC0.69%
ING Groep NV0.67%
Axa Sa0.65%
Omv AG0.62%
Sumitomo Mitsui Financial Group0.61%
Lloyds Banking Group PLC0.61%
Hitachi Ltd0.61%
Aker Bp Asa0.60%
Tokio Marine Holdings Inc0.60%
Sompo Holdings Inc0.60%
Keyence Corp0.60%
Phoenix Group Holdings Plc0.59%
Barclays PLC0.59%
Basf SE0.58%
DBS Group Holdings Ltd0.58%
Sse PLC0.58%
Banca Monte Dei Paschi Siena0.56%
Tokyo Gas Co Ltd0.55%
Osaka Gas Co Ltd0.54%
Ericsson Lm-B Shs0.53%
Veolia Environment0.53%
Takeda Pharmaceutical Co Ltd0.52%
Legal & General Group PLC0.52%
Danske Bank A/S0.52%
Swedbank AB0.52%
SITC International Holdings Co0.52%
Siemens Energy Ag0.52%
United Utilities Group PLC0.52%
Endesa SA0.51%
Societe Generale0.51%
Svenska Handelsbanken-A Shs0.51%
Mizuho Financial Group Inc0.51%
Mediolanum SpA0.50%
Deutsche Post Ag-Reg0.50%
Asahi Kasei Corp0.49%
Unipol Gruppo Finanziario SpA0.48%
Commerzbank AG0.48%

Only in FDEV

146 securities, 68.2% of FDEV by weight

Daito Trust Construction1.69%
Hongkong Land Hldgs Ltd1.63%
Klepierre SA1.54%
Astrazeneca PLC (Uk)1.44%
Canadian Natl Resources Ltd1.32%
Suncor Energy Inc1.28%
Firstservice Corp1.27%
Unilever PLC Ord1.26%
Loblaw Cos Ltd1.17%
Nexon Co Ltd1.14%
Anheuser-Busch Inbev Sa/Nv1.09%
Royal Bank of Canada1.05%
Rightmove PLC1.03%
Inpex Corp1.03%
Kpn (Kon) NV1.02%
Cenovus Energy Inc1.01%
Autotrader Group PLC0.98%
Whitecap Resources Inc0.97%
Shionogi & Co Ltd0.93%
Koninklijke Ahold Delhaize NV0.92%
Reckitt Benckiser Group PLC0.91%
Quebecor Inc Class B Sub Vtg0.91%
Imperial Brands PLC0.89%
Essity Ab B0.87%
Carlsberg As Class B0.86%
Orkla Asa0.85%
Toyo Suisan Kaisha Ltd0.84%
Toronto-Dominion Bank0.83%
Ono Pharmaceutical Co Ltd0.81%
Var Energi As0.79%
Sanofi0.75%
Ucb SA0.64%
Oversea-Chinese Bkg Corp Ltd0.62%
Mitsui & Co Ltd0.60%
Gaztransport Et Techniga0.59%
Thomson Reuters Corp0.56%
Relx PLC0.52%
Macquarie Group Ltd0.51%
Canadian Imp Bk of Commerce0.50%
Haleon PLC0.49%
Finning International Inc0.49%
Wolters Kluwer NV0.48%
Smith & Nephew PLC0.47%
Fresenius Medical Care AG0.44%
Kone Oyj B0.43%
Gea Group AG0.43%
Vinci SA0.42%
Sgs SA (Reg)0.42%
Caixabank SA0.41%
Challenger Ltd0.41%

Weight gaps

All 52 Holdings in both funds, largest gap first.

Holding weights in DWMF and FDEV, widest gap first
Holding	More in DWMFMore in FDEV	DWMF	FDEV
KDDI Corp	FDEV +0.73 points	0.39%	1.12%
Ly Corp	FDEV +0.72 points	0.35%	1.07%
Roche Holding Ag	FDEV +0.67 points	1.08%	1.75%
Shell Plc-NewSHEL.L	FDEV +0.66 points	1.17%	1.83%
ASML Holding NV	DWMF +0.62 points	2.12%	1.50%
Japan Tobacco Inc	FDEV +0.59 points	0.43%	1.02%
BHP Group Ltd	DWMF +0.54 points	0.97%	0.43%
Vodafone Group PLCVOD.L	FDEV +0.43 points	0.59%	1.02%
TotalEnergies	FDEV +0.39 points	0.99%	1.38%
Fisher & Paykel Healthcare Corp	FDEV +0.32 points	0.37%	0.69%
Yokogawa Electric Corp	DWMF +0.32 points	0.57%	0.25%
Rio Tinto Ltd	DWMF +0.27 points	0.41%	0.14%
ASM International NV	DWMF +0.25 points	0.44%	0.19%
Rio Tinto PlcRIO.L	DWMF +0.24 points	0.56%	0.32%
Standard Chartered PLCSTAN.L	DWMF +0.24 points	0.57%	0.33%
Logitech International-Reg	DWMF +0.24 points	0.37%	0.13%
Itochu Corp	FDEV +0.18 points	0.47%	0.65%
Novo Nordisk A/S-B	FDEV +0.18 points	0.63%	0.81%
Swedish Orphan Biovitrum Ab	DWMF +0.18 points	0.66%	0.48%
Natwest Group PlcNWG.L	DWMF +0.18 points	0.55%	0.37%
Merck KGaA	FDEV +0.17 points	0.33%	0.50%
Ipsen SA	DWMF +0.17 points	0.58%	0.41%
GSK PlcGSK.L	DWMF +0.16 points	0.91%	0.75%
Raiffeisen Bank International	DWMF +0.14 points	0.44%	0.30%
QBE Insurance Group Ltd	DWMF +0.15 points	0.58%	0.43%
HSBC Holdings PLCHSBA.L	DWMF +0.13 points	1.21%	1.08%
Sumitomo Mitsui Trust Holdings	FDEV +0.13 points	0.32%	0.45%
Equinor ASA	FDEV +0.13 points	0.74%	0.87%
Ageas	DWMF +0.13 points	0.48%	0.35%
Bank Leumi Le-Israel BM	DWMF +0.12 points	0.53%	0.41%
Novartis AG	DWMF +0.12 points	1.62%	1.50%
Daiwa Securities Group Inc	DWMF +0.12 points	0.51%	0.39%
Hochtief AG	FDEV +0.11 points	0.23%	0.34%
Cheung Kong Holdings Ltd	DWMF +0.11 points	0.36%	0.25%
MS&AD Insurance Group Holdings Inc	DWMF +0.11 points	0.63%	0.52%
BNP Paribas	DWMF +0.10 points	0.64%	0.54%
Orion Oyj	FDEV +0.10 points	0.43%	0.53%
BOC Hong Kong Holdings Ltd	DWMF +0.10 points	0.51%	0.41%
Singapore Exchange Ltd	DWMF +0.09 points	0.42%	0.33%
Credit Agricole SA	DWMF +0.09 points	0.39%	0.30%
BPER Banco Spa	DWMF +0.07 points	0.50%	0.43%
Sandvik AB	DWMF +0.07 points	0.37%	0.30%
Knorr-Bremse AG	FDEV +0.07 points	0.28%	0.35%
Nordea Bank Abp	DWMF +0.07 points	0.54%	0.47%
Endeavour Mining PlcEDV.L	DWMF +0.06 points	0.28%	0.22%
Repsol SA	FDEV +0.04 points	0.76%	0.80%
Smiths Group PLCSMIN.L	FDEV +0.04 points	0.29%	0.33%
Sumitomo Corp	FDEV +0.03 points	0.43%	0.46%
Rexel SA	DWMF +0.03 points	0.33%	0.30%
Banco Santander Sa	DWMF +0.02 points	0.81%	0.79%
Atlas Copco Ab-A Shs	FDEV +0.02 points	0.36%	0.38%
Toyota Tsusho Corp	Same weight	0.40%	0.40%

All 224 DWMF holdings⁠All 218 FDEV 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.

DWMF vs FDEV Cost

Overpaying DWMF vs FDEV

$3,957

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

DWMF 0.38%
$7,706
FDEV 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

DWMF 0.38%
FDEV 0.18%
Overpaying

Year by year

Year	DWMF	FDEV	Overpaying
10	$688	$328	$360
20	$2,658	$1,281	$1,377
30	$7,706	$3,749	$3,957

Expense ratio

0.38%DWMF
0.18%FDEV, cheaper

FDEV0.18%DWMF0.38%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

FDEV 3rd cheapest of 30 funds

DWMF 19th cheapest of 30 funds

DWMF vs FDEV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DWMF 2.99%; FDEV 3.27%, better
Payout (12M): DWMF $0.98; FDEV $1.22
Last payment: DWMF $0.12; FDEV $0.33
Ex-dividend: DWMF Sep 25, 2026; FDEV Sep 18, 2026
Paid on: DWMF Sep 29, 2026; FDEV Sep 22, 2026
Frequency: DWMF Quarterly; FDEV Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

DWMFQuarterly · 33 paymentsAll DWMF payments⁠

FDEVQuarterly · 31 paymentsAll FDEV payments⁠

DWMF vs FDEV Risk

Fall from peak · 5 years

DWMF
FDEV

Risk facts

VolatilityStd dev, 3 years: DWMF 8.6%, betterFDEV 10.5%
Return per unit of riskSharpe ratio, 3 years: DWMF 1.06FDEV 1.31, better
Worst fallMax drawdown, 5 years: DWMF −16.6%, betterFDEV −27.9%
Market sensitivityBeta, 5 years: DWMF 0.49FDEV 0.65; Market = 1

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