Question about wands (Piscator's Vigil vs. Rare Wand)

Hey guys! I got two possible wands for my fire elementalist:

1) Piscator's Vigil: 37% magic damage, 115% elemental damage, 30% more critical chance, 13% atk speed, 5% elemental resist penetration.

2) A rare one, with 26% magic damage, 42% fire damage, 24% more critical chance, 12~26 more fire damage.

Using the wand number 2, I have more DPS on my fire skills than using the wand number 1 (Piscator's Vigil), but looking at its description, it says it gives me 115% more elemental damage on attacks, so I'm not trusting that much on the DPS number showed to me.

My question is: the 115% elemental damage doesn't count in DPS, or Piscator's Vigil is really worse than the rare wand I got?

Sorry for not posting the images of the wands, I really don't know how to do it here.

Thanks!