DFE vs SPY
WisdomTree Europe SmallCap Dividend Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, DFE or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. DFE is less concentrated, with 14.7% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DFE | SPY |
|---|---|---|
| Expense Ratio | 0.58% | 0.09%Best |
| AUM | $168M | $814.4B |
| Dividend Yield | 3.95% | 1.01% |
| Holdings | 381 | 505 |
| YTD Return | +10.99% | +13.34%Best |
| 1Y Return | +17.13% | +19.97%Best |
| 3Y Return (annualized) | +17.30% | +21.20%Best |
| 5Y Return (annualized) | +4.54% | +12.81%Best |
| Volatility (annualized) | 22.0% | 15.2%Best |
| Max Drawdown | -74.3% | -56.5%Best |
| $10,000 over 5 years | $12,486 | $18,270Best |
| Top 10 Weight | 14.7%Best | 38.0% |
| Fund Family | WisdomTree Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Jun 16, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 16, 2006 to Sep 4, 2026 (20.2 years).
DFE vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.2 years both funds cover.
DFE vs SPY Performance
WisdomTree Europe SmallCap Dividend Fund (DFE) is an ETF from WisdomTree Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DFE returned +17.13% while SPY returned +19.97%. Year to date, DFE is up 10.99% versus a gain of 13.34% for SPY.
Over three years, DFE compounded at +17.30% per year against +21.20% for SPY; over five years the annualized figures are +4.54% and +12.81% respectively. Across the full 20-year window we track, SPY has the edge at +9.83% annualized vs +3.38%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFE has been the more volatile fund, with annualized monthly volatility of 22.0% compared with 15.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -74.3% for DFE and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFE charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, DFE currently yields 3.95% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 369 holdings in DFE and 504 in SPY, totalling 98.1% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 369 positions we hold weights for in DFE and 504 in SPY, against full books of 381 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for DFE (99.5% of the fund), and 3 for DFE that do not appear in SPY (0.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of DFE and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFE or SPY?
DFE has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option, by $49 a year on a $10,000 investment.
Which performed better, DFE or SPY?
Over the past year DFE returned +17.13% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), DFE annualized +3.38% vs +9.83% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFE or SPY?
DFE has been the more volatile fund at 22.0% annualized versus 15.2% for SPY. Worst drawdown: DFE -74.3% vs SPY -56.5%.
Should I hold both DFE and SPY?
DFE and SPY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DFE or SPY?
DFE yields 3.95% while SPY yields 1.01%, so DFE currently pays the higher dividend yield.
Is SPY better than DFE?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. DFE is less concentrated, with 14.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.