AVDV vs. DLS

Last updated Jun 24, 2026

AVDV (Avantis International Small Cap Value ETF) and DLS (WisdomTree International SmallCap Dividend) are both Foreign Small & Mid Cap Equities funds. AVDV is actively managed, while DLS is passively managed. Over the past 5 years, AVDV returned 13.85%/yr vs 6.77%/yr for DLS. With a 0.95 correlation, they move nearly in lockstep. AVDV charges 0.36%/yr vs 0.58%/yr for DLS.

Performance

AVDV vs. DLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Small Cap Value ETF (AVDV) and WisdomTree International SmallCap Dividend (DLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVDV achieves a 13.23% return, which is significantly higher than DLS's 5.03% return.

AVDV

• 1D: -2.28%
• 1M: -1.84%
• YTD: 13.23%
• 6M: 12.69%
• 1Y: 40.80%
• 3Y*: 27.46%
• 5Y*: 13.85%
• 10Y*: —

DLS

• 1D: -1.53%
• 1M: -2.19%
• YTD: 5.03%
• 6M: 5.39%
• 1Y: 19.99%
• 3Y*: 17.29%
• 5Y*: 6.77%
• 10Y*: 8.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVDV vs. DLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	13.23%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%
DLS WisdomTree International SmallCap Dividend	5.03%	34.11%	3.06%	15.33%	-17.31%	11.71%	-1.28%	12.90%

Correlation

The correlation between AVDV and DLS is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.95

The correlation between AVDV and DLS has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

AVDV vs. DLS - Sectors Allocation Comparison

Sectors	AVDV	DLS
Industrials	22.8%	27.8%
Basic Materials	21.0%	9.2%
Consumer Cyclical	15.4%	12.7%
Financial Services	13.6%	13.4%
Energy	9.6%	2.7%
Technology	6.6%	8.9%
Consumer Defensive	3.4%	7.6%
Communication Services	2.4%	4.3%
Healthcare	2.3%	3.6%
Utilities	1.7%	2.0%
Real Estate	1.3%	7.6%

Return for Risk

AVDV vs. DLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVDV

AVDV Risk / Return Rank: 74
AVDV Sharpe Ratio Rank: 81
AVDV Sortino Ratio Rank: 77
AVDV Omega Ratio Rank: 79
AVDV Calmar Ratio Rank: 65
AVDV Martin Ratio Rank: 69

DLS

DLS Risk / Return Rank: 42
DLS Sharpe Ratio Rank: 43
DLS Sortino Ratio Rank: 43
DLS Omega Ratio Rank: 42
DLS Calmar Ratio Rank: 38
DLS Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVDV vs. DLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Value ETF (AVDV) and WisdomTree International SmallCap Dividend (DLS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVDV	DLS	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.45	+1.05
Sortino ratio: Return per unit of downside risk	3.29	2.10	+1.19
Omega ratio: Gain probability vs. loss probability	1.45	1.26	+0.18
Calmar ratio: Return relative to maximum drawdown	3.11	1.82	+1.29
Martin ratio: Return relative to average drawdown	12.36	6.48	+5.88

AVDV vs. DLS - Sharpe Ratio Comparison

The current AVDV Sharpe Ratio is 2.50, which is higher than the DLS Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of AVDV and DLS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVDV vs. DLS - Drawdown Comparison

The maximum AVDV drawdown since its inception was -43.01%, smaller than the maximum DLS drawdown of -63.13%. Use the drawdown chart below to compare losses from any high point for AVDV and DLS.

Drawdown Indicators

	AVDV	DLS	Difference
Max Drawdown Largest peak-to-trough decline	-43.01%	-63.13%	+20.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.19%	-11.04%	-2.15%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-12.69%	-1.48%
Max Drawdown (5Y) Largest decline over 5 years	-28.08%	-32.22%	+4.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.77%	—
Current Drawdown Current decline from peak	-3.73%	-4.66%	+0.93%
Average Drawdown Average peak-to-trough decline	-6.74%	-13.62%	+6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.09%	+0.22%

Volatility

AVDV vs. DLS - Volatility Comparison

Avantis International Small Cap Value ETF (AVDV) has a higher volatility of 6.23% compared to WisdomTree International SmallCap Dividend (DLS) at 4.61%. This indicates that AVDV's price experiences larger fluctuations and is considered to be riskier than DLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVDV	DLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.23%	4.61%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	14.14%	11.58%	+2.56%
Volatility (1Y) Calculated over the trailing 1-year period	16.42%	13.85%	+2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	15.63%	+1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.76%	16.45%	+3.31%

AVDV vs. DLS - Expense Ratio Comparison

AVDV has a 0.36% expense ratio, which is lower than DLS's 0.58% expense ratio.

Dividends

AVDV vs. DLS - Dividend Comparison

AVDV's dividend yield for the trailing twelve months is around 4.17%, more than DLS's 3.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDV Avantis International Small Cap Value ETF	4.17%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%	0.00%	0.00%	0.00%
DLS WisdomTree International SmallCap Dividend	3.55%	3.87%	4.56%	4.29%	4.96%	3.29%	2.50%	3.37%	3.66%	2.79%	3.29%	2.72%

Frequently Asked Questions

Can I hold both AVDV and DLS in my portfolio?

With a correlation of 0.94, AVDV and DLS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVDV or DLS?

AVDV has higher volatility (6.23%) compared to DLS (4.61%). In terms of maximum drawdown, AVDV dropped -43.01% vs DLS's -63.13%.

Which ETF is better, AVDV or DLS?

On 5-year performance, AVDV leads with 13.85% vs 6.77% for DLS. On fees, AVDV is cheaper at 0.36% per year. On volatility, DLS has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVDV or DLS?

Over the 5-year period, AVDV has performed better with a 13.85% return vs 6.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVDV or DLS?

AVDV is cheaper with a 0.36% expense ratio, compared with 0.58% for DLS.

Which ETF pays a higher dividend yield, AVDV or DLS?

AVDV has the higher dividend yield at 4.17%, compared with 3.55% for DLS.

What is the main difference between AVDV and DLS?

They also come from different issuers: Avantis and WisdomTree. Their fees differ too: 0.36% for AVDV and 0.58% for DLS.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.50 vs 1.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.