ETF Evaluator:
WisdomTree US MidCap Dividend ETF (DON)
Follow This ETF
(as of Sep 11)
Best Performing in Mid-Cap Value Over the Last Year
| 51.0% | VictoryShares Free Cash Flow ETF (VFLO) |
| 44.4% | Bushido Capital US Equity ETF (SMRI) |
| 41.9% | Bushido Capital US SMID Cap Equity ETF (RNIN) |
| 40.7% | ProShares Equities for Rising Rates ETF (EQRR) |
| 37.7% | Alpha Architect US Quantitative Val ETF (QVAL) |
Risk
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ETF Details
WisdomTree US MidCap Dividend ETF Overview
WisdomTree US MidCap Dividend ETF (DON) is a passively managed U.S. Equity Mid-Cap Value exchange-traded fund (ETF). WisdomTree launched the ETF in 2006.
The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. MidCap Dividend Index.
The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in constituents of the index that have economic characteristics that are substantially similar to the economic characteristics of such constituents. The index is dividend weighted annually to reflect the proportionate share of the aggregate cash dividends each constituent company is projected to pay in the coming year, based on the most recently declared dividend per share, a measure of fundamental value. It is non-diversified.
About WisdomTree US MidCap Dividend ETF (DON)
There are 5 members of the management team with an average tenure of 5.31 years: Marlene Walker-Smith (2020), David France (2021), Todd Frysinger (2021), Vlasta Sheremeta (2021) and Michael Stoll (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI USA IMI NR USD index with a weighting of 100% and WisdomTree MidCap Dividend TR USD index with a weighting of 100%. WisdomTree US MidCap Dividend ETF has 295 securities in its portfolio. The top 10 holdings constitute 11.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
WisdomTree US MidCap Dividend ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. WisdomTree US MidCap Dividend ETF has 0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.5% There is 0.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). WisdomTree US MidCap Dividend ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $4 billion in total assets, which is above the $2 billion average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DON Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The WisdomTree US MidCap Dividend ETF expense ratio is below average compared to funds in the Mid-Cap Value category. WisdomTree US MidCap Dividend ETF has an expense ratio of 0.38%, which is 19% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. WisdomTree US MidCap Dividend ETF has a portfolio turnover rate of 34%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 73% for the Mid-Cap Value category.
Recently, in the month of August 2026, WisdomTree US MidCap Dividend ETF returned -0.0%, which earned it a grade of D, as the Mid-Cap Value category had an average return of 2.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
WisdomTree US MidCap Dividend ETF has a trailing yield of 2.32%, which is above the 2.02% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
WisdomTree US MidCap Dividend ETF Grades
Year to date, the ETF has returned 12.8%, 5.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 11.5% over the past year (grade of F), 12.9% over the past three years (grade of D) and 8.7% per year over the past five years (grade of D) and 9.3% per year over the past 10 years (grade of F).
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DON Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DON Return (NAV) | -0.0% | 4.8% | 11.5% | 12.9% | 8.7% | 9.3% |
| DON Return (Price) | -0.0% | 4.8% | 11.5% | 12.9% | 8.8% | 9.3% |
| NAV +/- Price Return | 0.017% | 0.001% | 0.015% | -0.004% | -0.016% | -0.003% |
| Mid-Cap Value Avg | 2.2% | 7.4% | 20.7% | 15.7% | 9.9% | 11.0% |
| DON Grade (NAV) | D | D | F | D | D | F |
| +/- Category (NAV) | -2.2% | -2.6% | -9.2% | -2.7% | -1.2% | -1.7% |
| DON Tax-Cost Ratio | na | na | 0.8% | 0.7% | 0.7% | 0.8% |
DON Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DON Return (NAV) | 12.8% | 3.9% | 14.1% | 14.0% | -4.8% | 30.2% | -5.4% | 23.4% | -8.3% | 14.9% | 20.3% |
| DON Return (Price) | 12.8% | 3.9% | 14.2% | 14.0% | -4.7% | 30.3% | -5.5% | 23.3% | -8.2% | 14.9% | 20.4% |
| NAV +/- Price Ret | -0.005% | -0.010% | 0.006% | 0.004% | -0.005% | 0.003% | 0.011% | -0.5% | -0.5% | -0.0% | 0.3% |
| Mid-Cap Value Avg | 18.1% | 10.4% | 12.2% | 12.9% | -5.7% | 31.6% | 0.6% | 25.6% | -10.0% | 15.5% | 20.3% |
| DON Grade (NAV) | F | F | B | B | C | C | D | D | B | C | C |
| +/- Category | -5.2% | -6.5% | 1.9% | 1.1% | 0.9% | -1.4% | -6.0% | -2.1% | 1.8% | -0.6% | -0.0% |
| Risk Measures | |
| Beta: | 0.78 |
| R-Squared: | 48% |
| Standard Deviation: | 14.6% |
| Category Risk Index: | 1.03 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.20 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 2.3% |
| Total Assets: | $ 4,023 Mil |
| Share Class Assets: | $ 4,023 Mil |
| Turnover: | 34.0% |
| Expense Ratio: | 0.38% |
| Index Fund: | Yes |
| Index Tracked: | MSCI USA IMI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 5.9 years | |||
| Average Tenure: 5.3 years | |||
| Managers (Year): Walker-Smith Marlene (2020), France David (2021), Frysinger Todd (2021), Sheremeta Vlasta (2021), Stoll Michael (2021) | |||
Portfolio Composition (as of 8/31/26)
| # of Holdings: | 295 |
| % in Top 10 Holdings: | 11.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.4% |
Portfolio Allocation |
|
| Domestic Stock: | 99.5% |
| Foreign Stock: | 0.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | WisdomTree |
| Phone Number: | 866-909-9473 |
| Website: | www.wisdomtree.com |
| Inception Date: | June 16, 2006 |
Expenses and Fees
| Expense Ratio (%): | 0.38% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.47% |
