A head-to-head comparison of WisdomTree U.S. SmallCap Dividend Fund and WisdomTree U.S. MidCap Dividend Fund covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
WisdomTree is known for offering diversified, thematically-focused ETFs that emphasize dividend income and factor-based strategies across multiple asset classes. The firm manages 28 funds spanning equities, fixed income, commodities, digital assets, and alternatives, with a particular strength in dividend and income-oriented products like its popular DGS (Emerging Markets High Dividend) and DGRW (Emerging Markets Quality Dividend Growth) funds. WisdomTree's lineup is characterized by its broad thematic approach, including exposure to megatrends and digital assets, alongside traditional dividend and factor-based equity strategies designed to appeal to income-focused investors.
See our curated list of related YouTube videos on DES and DON.
Bottom lineChoose DES if you want higher current income (4.32% vs 3.28% for DON). Choose DON if you want a quality-dividend tilt rather than the whole market.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
DES (WisdomTree U.S. SmallCap Dividend Fund) and DON (WisdomTree U.S. MidCap Dividend Fund) are both monthly-pay dividend ETFs, but they take different approaches.
DES offers the higher yield at 4.32% vs 3.28% for DON. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
DON is the larger fund by assets ($3.87B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, DES would generate roughly $36.00/month, while DON would produce $27.33/month, at current distribution rates. Both pay monthly distributions.
DES yield4.32%
DON yield3.28%
Monthly diff on $10K$8.67
Cost & efficiency
Over 10 years on $10,000, DES would cost approximately $380 in fees vs $380 for DON (simplified, not compounded). Both charge the same expense ratio.
DES ER0.38%
DON ER0.38%
Strategy & risk
DES is an ETF, while DON tracks WisdomTree U.S. MidCap Dividend Index with a dividend approach. Beta is 0.86 for DES and 0.81 for DON, indicating DON is less volatile relative to the market.
DES beta0.86
DON beta0.81
Fund details
DES is managed by WisdomTree (launched 06/16/2006) with $2.07B in assets. DON is managed by WisdomTree (launched 06/16/2006) with $3.87B in assets.
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Frequently asked questions
Is DES or DON better for dividend income?
It depends on your goals. DES currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between DES and DON?
DES (WisdomTree U.S. SmallCap Dividend Fund) is an ETF, while DON (WisdomTree U.S. MidCap Dividend Fund) tracks WisdomTree U.S. MidCap Dividend Index with a dividend approach. They are issued by WisdomTree and WisdomTree respectively.
Can I hold both DES and DON?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, DES or DON?
DES and DON both charge the same expense ratio of 0.38%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.
How much income does $10,000 in DES vs DON generate?
At current rates, $10,000 in DES would generate roughly $36.00 per month ($432.00 annually). The same in DON would produce about $27.33 per month ($328.00 annually).
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