Ah, I didn’t notice the crit chance on the second one.
The tooltip dps is a reasonable estimate of dps but as I said, it does include the DoT chance which would be less useful if you’re going for a hit build. Its mais purpose is to give you an idea of which items are better. But it doesn’t include the damage reduction per area level that mobs get, so it’s an estimate of your outgoing dps, not the damage the mobs will take.