At a glance
DHS charges 0.38% a year, above the 0.31% average of the 8 funds most like it (the 7th cheapest of 9). It has $1.50B in assets, the 4th largest of that group; it paid 3.46% of its price in distributions over the past 12 months, monthly. Over the past year it returned +20.5% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +21.1% a year. At its worst it fell 37.0% in the 2020 crash (S&P 500: 33.7%) and 15.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 2 months after the lows. Its ten largest positions make up 32.3% of the fund, out of 323 in all.
The short version
WisdomTree US High Dividend Fund (DHS) is an index ETF that holds about 320 US stocks with the highest dividend yields, weighted by how much cash each company pays in dividends. It pays monthly, with a trailing 12-month yield of 3.46% as of October 27, 2026. Its 0.38% annual fee is above the 0.31% average of similar dividend funds and far above SCHD's 0.06% and HDV's 0.08%.
Price history
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DHS +20.5% 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 | |
|---|---|---|---|---|---|---|
| DHS official prospectus, to Dec 31, 2025 | — | +12.92% | — | +12.05% | +9.56% | — |
| Wisdom Tree U.S. High Dividend Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +13.40% | — | +12.55% | +10.01% | — |
| S&P 500 Value Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +13.19% | — | +12.96% | +11.73% | — |
| MSCI USA Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +17.75% | — | +13.87% | +14.79% | — |
| DHS price data to Oct 27, 2026 | +18.2% | +20.5% | +21.1% | +12.6% | +10.2% | +8.2% |
- Over the year to Oct 27, 2026, DHS returned +20.5%, 7th of 9 among similar funds.
- Its 5-year annualized return was +12.6% and its 10-year +10.2%.
- In the 2020 COVID crash it fell 37% and regained its old high 11.5 months after the low.
- Its worst full calendar year was 2008 (-38.9%); its best was 2013 (+24.5%).
- The deepest fall in its price history was 67.2% (Oct 5, 2007 to Mar 5, 2009), recovered by Jan 29, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +18.3% | — |
| 2025 | +12.9% | +12.92% |
| 2024 | +18.1% | +17.98% |
| 2023 | -0.2% | -0.19% |
| 2022 | +8.0% | +7.88% |
| 2021 | +23.2% | +23.11% |
| 2020 | -5.6% | -5.68% |
| 2019 | +22.6% | +22.58% |
| 2018 | -7.4% | -7.25% |
| 2017 | +11.7% | +11.68% |
| 2016 | +17.9% | +17.85% |
| 2015 | -0.6% | — |
| 2014 | +15.2% | — |
| 2013 | +24.5% | — |
| 2012 | +11.1% | — |
| 2011 | +14.2% | — |
| 2010 | +17.6% | — |
| 2009 | +17.0% | — |
| 2008 | -38.9% | — |
| 2007 | -4.5% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 66.9% over that stretch · deepest drop along the way 67.2%, back to its old high 46.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.8% over that stretch · deepest drop along the way 37%, back to its old high 11.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 4.1% over that stretch · deepest drop along the way 15.3%, back to its old high 2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.0600 | |
| 2025 | $3.4100 | -0.9% |
| 2024 | $3.4400 | -3.6% |
| 2023 | $3.5700 | +20.2% |
| 2022 | $2.9700 | +8.4% |
| 2021 | $2.7400 | -5.5% |
| 2020 | $2.9000 | +1.8% |
| 2019 | $2.8500 | +15.4% |
| 2018 | $2.4700 | +11.8% |
| 2017 | $2.2100 | 0.0% |
| 2016 | $2.2100 | +5.6% |
| 2015 | $2.0930 | +16.9% |
| 2014 | $1.7911 | +1.7% |
| 2013 | $1.7614 | -4.2% |
| 2012 | $1.8391 | +29.8% |
| 2011 | $1.4172 | -11.3% |
| 2010 | $1.5979 | +35.4% |
| 2009 | $1.1803 | -45.3% |
| 2008 | $2.1574 | +3.7% |
| 2007 | $2.0812 |
What's inside
As of Jun 30, 2026, the fund held 323 securities; the ten largest made up 32.27% of assets.
| Holding | Weight | |
|---|---|---|
| ABBVIE INC | 4.94% | |
| MERCK & COMPANY INC | 4.26% | |
| ALTRIA GROUP INC | 3.79% | |
| TEXAS INSTRUMENTS INC | 3.42% | |
| EXXONMOBIL HOLDINGS CORP | 3.16% | |
| PHILIP MORRIS INTERNATIONAL INC | 3.15% | |
| AT&T INC | 2.60% | |
| VERIZON COMMUNICATIONS INC | 2.45% | |
| BRISTOL-MYERS SQUIBB COMPANY | 2.31% | |
| CHEVRON CORP | 2.20% | |
| PEPSICO INC | 2.05% | |
| TRANSDIGM GROUP INC | 2.04% | |
| INTERNATIONAL BUSINESS MACHINES CORP | 2.01% | |
| CVS HEALTH CORP | 1.92% | |
| PFIZER INC | 1.87% |
By country
United States 99.56%Puerto Rico 0.19%By asset type
Stocks 99.74%By sector
Sectors of the companies held, for the 68.7% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $11.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.86%, +0.16%, +1.90%.
How it works
DHS is an index fund that aims to track the WisdomTree U.S. High Dividend Index. WisdomTree, Inc. builds the index and also owns the fund's adviser. The fund may hold a sample of the index's stocks chosen to behave like the whole index, rather than every one.
The index draws from the WisdomTree U.S. Total Dividend Index of U.S.-based, U.S.-listed dividend payers. Once a year, a company must show 12 months of regular cash dividends, a market value of at least $200 million and trading of at least $200,000 on a typical day. Companies that pass are ranked by dividend yield (annual dividends divided by share price), and the top 30% get in. Existing members stay as long as they rank in the top 35%, which limits trading.
Each stock's weight follows the cash dividends the company is expected to pay over the next year, based on its latest declared dividend, not company size. AbbVie (4.9%) and Merck (4.3%) were the largest of 323 holdings as of June 30, 2026. At each annual reset, no stock may exceed 5% and real estate is held to 5%. Other sectors are capped at 25% or three times their share of the eligible stocks' total market value, whichever is lower. Between resets, weights can drift past these limits.
What it really costs
- DHS charges 0.38% a year, versus an average of 0.31% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $39 in the first year and $480 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DHS | $39 | $122 | $213 | $480 |
In a retirement portfolio
It holds high-yielding US stocks and pays monthly, with a 3.46% trailing yield as of October 27, 2026, but it carries the full risk of a stock fund.
DHS could add monthly income from large dividend payers in health care, tobacco, energy and telecoms. The trailing 12-month yield was 3.46% as of October 27, 2026. The fee is 0.38% a year, which comes to about $39 in the first year on $10,000 under the SEC's standard example. It is not a substitute for bonds. From October 2007 to March 2009 it fell 67.2%, and it did not recover until January 2013. Its worst calendar year was 2008, at -38.9%. In early 2020 it dropped 37% and took about 11.5 months to recover. In 2022 it gained 7.88% for the year, despite a 15.3% drop in the middle of the year. Anyone who has to sell in a slump like 2008 would lock in deep losses, and companies can 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
- Income-focused investors who want monthly payouts from about 320 US dividend stocks, with a 3.46% trailing yield as of October 27, 2026.
- Investors who prefer weighting by dividends paid rather than company size, which tilts the fund toward AbbVie, Merck, Altria and other big payers.
- Investors comfortable with heavy health care, tobacco, energy and telecom exposure, held in check by a 5% cap per stock at each annual reset.
Look elsewhere if
- Cost-focused investors: the 0.38% fee is above the 0.31% average for similar funds and well above SCHD (0.06%) and HDV (0.08%).
- Investors seeking broad-market growth: over 10 years through December 31, 2025, it returned 9.56% a year versus 14.79% for the MSCI USA Index.
- Investors who can't tolerate deep losses: it fell 67.2% from 2007 to 2009 and didn't recover until January 2013.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DHS this fund | — | 0.38% | $1.50B | +20.5% | +21.1% |
| FDL First Trust Morningstar Dividend Leaders In… | 44% | 0.45% | $7.29B | +26.1% | +23.9% |
| CDL VictoryShares US Large Cap High Dividend Vo… | 42% | 0.35% | $391.7M | +18.9% | +19.6% |
| HDV iShares Core High Dividend ETF | 38% | 0.08% | $14.90B | +38.0% | +21.7% |
| DEW WisdomTree Global High Dividend Fund | 36% | 0.58% | $140.3M | +22.0% | +22.9% |
| DURA VanEck Durable High Dividend ETF | 36% | 0.3% | $37.2M | +23.2% | +15.9% |
| SCHD Schwab US Dividend Equity ETF | 34% | 0.06% | $112.34B | +38.9% | +19.9% |
| SDOG ALPS Sector Dividend Dogs ETF | 34% | 0.36% | $1.44B | +24.8% | +22.4% |
Questions investors ask
Does DHS pay monthly dividends?
Yes. DHS pays dividends monthly. Over the 12 months to October 27, 2026, it paid $4.05 per share, a trailing yield of 3.46%. The amount changes from month to month because it depends on the dividends paid by the roughly 320 stocks the fund owns. A dividend cut at a large holding, such as AbbVie or Merck, would reduce what the fund pays out.
What is the DHS expense ratio and is it expensive?
DHS charges 0.38% 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 $39 after one year, $122 after three, $213 after five and $480 after ten. Of eight similar dividend funds, only two charge more. The average for the group is 0.31%, and SCHD and HDV charge just 0.06% and 0.08%.
DHS vs FDL: what's the difference?
Both own high-dividend US stocks. FDL, the First Trust Morningstar Dividend Leaders Index Fund, shares about 44% of its holdings with DHS, more than any other similar fund. FDL charges more (0.45% vs 0.38%) and is larger, with about $7.3 billion in net assets as of June 30, 2026, versus about $1.5 billion for DHS. Based on price, FDL returned 26.1% over the year to October 27, 2026, while DHS returned 20.5%.
What are DHS's top holdings?
As of June 30, 2026, the largest holdings were AbbVie (4.9%), Merck (4.3%), Altria (3.8%), Texas Instruments (3.4%), Exxon Mobil (3.2%) and Philip Morris International (3.2%). AT&T, Verizon, Bristol-Myers Squibb and Chevron rounded out the top 10. Together, the top 10 made up about 32% of the fund's 323 holdings. The prospectus notes that the fund has significant exposure to the financials and health care sectors.
How did DHS do in 2008 and the 2020 crash?
It fell hard both times. From October 2007 to March 2009, DHS dropped 67.2%, and it did not recover until January 2013. Its 2008 calendar-year return was -38.9%. In early 2020 it fell 37%, and its worst quarter was -25.98% in the first quarter of 2020. That loss took about 11.5 months to recover. In 2022 it held up better, gaining 7.88% for the year.