At a glance
DFE charges 0.58% a year, above the 0.41% average of the 1 funds most like it. It has $158.3M in assets; it paid 4.06% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +9.5% with distributions reinvested (S&P 500: +11.5%); over three years it returned +20.1% a year. At its worst it fell 45.0% in the 2020 crash (S&P 500: 33.7%) and 37.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 31 months after the lows. Its ten largest positions make up 14.7% of the fund, out of 376 in all.
The short version
WisdomTree Europe SmallCap Dividend Fund (DFE) is an index ETF. It holds about 376 small, dividend-paying European companies and weights them by how much cash they pay out in dividends. That tilt toward larger dividend payers gave it a trailing 12-month yield of 4.06% as of October 27, 2026. It costs 0.58% a year, more than the 0.41% charged by iShares MSCI Europe Small-Cap ETF (IEUS).
Price history
The interactive chart needs JavaScript.
DFE +9.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| DFE official prospectus, to Dec 31, 2025 | — | +32.94% | — | +6.87% | +6.75% | — |
| Wisdom Tree Europe Small Cap Dividend Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +33.10% | — | +7.04% | +7.08% | — |
| MSCI Europe Small Cap Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +31.96% | — | +5.00% | +7.16% | — |
| Index80 index, same period | — | +35.41% | — | +10.30% | +8.52% | — |
| DFE price data to Oct 27, 2026 | +6.8% | +9.5% | +20.1% | +4.8% | +7.7% | +6.3% |
- Over the year to Oct 27, 2026, DFE returned +9.5%.
- Its 5-year annualized return was +4.8% and its 10-year +7.7%.
- In the 2020 COVID crash it fell 45% and regained its old high 8.8 months after the low.
- Its worst full calendar year was 2008 (-52.8%); its best was 2009 (+51.2%).
- The deepest fall in its price history was 69.6% (Jun 4, 2007 to Mar 9, 2009), recovered by Oct 18, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.8% | — |
| 2025 | +32.9% | +32.94% |
| 2024 | -0.6% | -0.32% |
| 2023 | +15.0% | +14.86% |
| 2022 | -22.2% | -22.53% |
| 2021 | +18.5% | +18.25% |
| 2020 | +2.1% | +2.81% |
| 2019 | +27.2% | +26.79% |
| 2018 | -21.2% | -21.43% |
| 2017 | +32.7% | +32.45% |
| 2016 | +1.5% | +1.57% |
| 2015 | +11.8% | — |
| 2014 | -8.7% | — |
| 2013 | +45.4% | — |
| 2012 | +31.3% | — |
| 2011 | -19.3% | — |
| 2010 | +19.9% | — |
| 2009 | +51.2% | — |
| 2008 | -52.8% | — |
| 2007 | -2.8% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 67.4% over that stretch · deepest drop along the way 68.3%, back to its old high 54.3 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 45% over that stretch · deepest drop along the way 45%, back to its old high 8.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 37.2% over that stretch · deepest drop along the way 37.8%, back to its old high 31 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.1300 | |
| 2025 | $3.1500 | +12.5% |
| 2024 | $2.8000 | -6.0% |
| 2023 | $2.9800 | -7.2% |
| 2022 | $3.2100 | +67.2% |
| 2021 | $1.9200 | +22.3% |
| 2020 | $1.5700 | -29.6% |
| 2019 | $2.2300 | -16.2% |
| 2018 | $2.6600 | +48.6% |
| 2017 | $1.7900 | -19.4% |
| 2016 | $2.2200 | +42.3% |
| 2015 | $1.5600 | +2.0% |
| 2014 | $1.5300 | +10.1% |
| 2013 | $1.3900 | -5.4% |
| 2012 | $1.4700 | -29.0% |
| 2011 | $2.0700 | +115.6% |
| 2010 | $0.9600 | -25.6% |
| 2009 | $1.2900 | -53.8% |
| 2008 | $2.7900 | -33.9% |
| 2007 | $4.2200 |
What's inside
As of Jun 30, 2026, the fund held 376 securities; the ten largest made up 14.67% of assets. It also reported 3.67% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| HOEGH AUTOLINERS ASA | 2.55% | |
| ELECNOR SA | 1.90% | |
| DOF GROUP ASA | 1.62% | |
| NOS SGPS SA | 1.54% | |
| APERAM SA | 1.48% | |
| REN - REDES ENERGETICAS NACIONAIS SGPS SA | 1.27% | |
| PENNON GROUP PLC | 1.15% | |
| ENERGEAN PLC | 1.07% | |
| OUTOKUMPU OYJ | 1.05% | |
| ODFJELL DRILLING LTD | 1.05% | |
| SPAREBANKEN NORGE AS | 1.00% | |
| KONINKLIJKE HEIJMANS NV | 0.89% | |
| HAMMERSON PLC | 0.89% | |
| SPAREBANK 1 SMN ASA | 0.85% | |
| MORGAN SINDALL GROUP PLC | 0.84% |
By country
United Kingdom 26.61%Norway 13.29%Sweden 12.82%Netherlands 5.76%Germany 5.5%By asset type
Stocks 98.59%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.28%, +2.49%, -5.32%.
How it works
DFE tracks the WisdomTree Europe SmallCap Dividend Index. The index was designed by WisdomTree, the parent of the fund's adviser. It starts with the European stocks in the WisdomTree International Equity Index, removes the 300 largest, and keeps the bottom 25% by market value. Each company must be based and listed in one of 15 European countries, such as the UK, Germany, Norway or Switzerland. It must also have paid at least $5 million in cash dividends over the prior year, be worth at least $100 million, and pass trading-volume tests. As of June 30, 2026, index companies averaged $1.2 billion in market value.
Weights depend on the total dollars of dividends a company pays, not on its size, so bigger payers get bigger slices. On each annual screening date, the index caps any one sector at 25%, real estate at 15% and any one country at 30%. Weights can drift past those limits between rebalances. Portfolio turnover, the share of holdings replaced in a year, was 55%.
The fund uses representative sampling. That means it holds a sample of index stocks that resembles the whole index rather than every name. As of June 30, 2026, it held no derivatives. Its holdings are priced in pounds, euros, kronor and other currencies, so changes in exchange rates against the dollar flow straight into returns.
What it really costs
- DFE charges 0.58% a year, versus an average of 0.41% for the similar funds below.
- Using the prospectus's standard example, $10,000 invested would cost about $59 in the first year and $726 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DFE | $59 | $186 | $324 | $726 |
In a retirement portfolio
It adds small European dividend payers and a yield above 4%, but its history includes a drop of nearly 70%, so it fits better as a smaller slice next to broader holdings.
DFE could add small European companies and a sizable dividend stream to a portfolio that is mostly US stocks. Its trailing 12-month yield was 4.06% as of October 27, 2026, and it pays quarterly. It costs 0.58% a year. In the SEC's standard example, that is $59 in the first year on a $10,000 investment. But its losses have been steep. Its deepest drop, 69.6% from June 2007 to March 2009, took about 55 months to recover, and it lost 52.8% in calendar 2008. It fell 45% in the 2020 COVID crash and 37.8% in the 2022 bear market, which took 31 months to recover. Anyone who has to sell shares in a bad year could end up selling near a low. Small companies may also cut their dividends. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want small European dividend payers, such as Hoegh Autoliners, Elecnor and NOS, which large-company funds leave out.
- Income seekers who are comfortable with quarterly payouts that may vary; the trailing yield was 4.06% as of October 27, 2026.
- Long-term holders who can sit through drops like the 45% fall in early 2020 and the 37.8% decline in 2022.
Look elsewhere if
- Cost-focused investors: the 0.58% expense ratio is above the 0.41% charged by iShares MSCI Europe Small-Cap ETF (IEUS).
- Anyone who can't tolerate deep losses: the fund lost 69.6% from 2007 to 2009 and needed about 55 months to recover.
- Investors who want to avoid currency swings or heavy country tilts: as of June 30, 2026, the UK was 26.6% of assets and Norway 13.3%.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DFE this fund | — | 0.58% | $158.3M | +9.5% | +20.1% |
| IEUS iShares MSCI Europe Small-Cap ETF | 14% | 0.41% | $180.2M | +5.9% | +19.4% |
Questions investors ask
Does DFE pay monthly dividends?
No. DFE pays dividends quarterly, not monthly. In the 12 months to October 27, 2026, it paid $3.03 per share, a trailing yield of 4.06%. The index weights companies by the dollars of dividends they pay, so it leans toward larger payers. Payouts can still rise or fall. Small companies may cut dividends when profits drop, and exchange rates change the dollar value of dividends paid in euros, pounds or kronor.
What's the difference between DFE and IEUS?
Both hold small European companies, but they share little else. DFE owns only dividend payers and weights them by the dividends they pay. In the latest filings, it shared only about 14% of its holdings with iShares MSCI Europe Small-Cap ETF (IEUS). IEUS costs 0.41% a year, compared with 0.58% for DFE. In the year to October 27, 2026, DFE returned 9.5% and IEUS 5.9%.
Is DFE good for retirement income?
It can provide income, but with high risk. DFE's trailing yield was 4.06% as of October 27, 2026, and it pays quarterly. It fell 68.3% in the 2008 financial crisis and 37.8% in the 2022 bear market, and took 31 months to recover from the 2022 drop. A retiree drawing money from it could end up selling shares at low prices. It may suit a smaller slice of a broader portfolio better than a role as the only income source.
What is DFE's expense ratio?
DFE's expense ratio is 0.58% a year, according to its prospectus filed July 29, 2026. In the SEC's standard example ($10,000 invested, 5% annual return), that comes to about $59 after one year, $186 after three, $324 after five and $726 after ten. It costs more than iShares MSCI Europe Small-Cap ETF (IEUS), which charges 0.41%, though the two funds hold quite different portfolios.
How has DFE performed over 10 years?
According to its prospectus, DFE returned 6.75% a year over the 10 years to December 31, 2025. That trailed its own index (7.08%) and the MSCI Europe Small Cap Index (7.16%). Over five years, though, it beat that MSCI index, 6.87% a year versus 5.00%. Returns have been uneven: the fund gained 32.94% in 2025 and lost 22.53% in 2022. Based on share prices, its 10-year annual return was 7.7% as of October 27, 2026.