CDL vs. DEW

Last updated Aug 2, 2026

CDL (VictoryShares US Large Cap High Dividend Volatility Wtd ETF) and DEW (WisdomTree Global High Dividend Fund) are both exchange-traded funds - CDL is a Dividend fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while DEW is a Large Cap Value Equities fund tracking the WisdomTree Global High Dividend Index. Both are passively managed. Over the past 10 years, CDL returned 11.17%/yr vs 9.75%/yr for DEW. Their correlation of 0.85 means they have usually moved in the same direction. CDL charges 0.35%/yr vs 0.58%/yr for DEW.

Performance

CDL vs. DEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) and WisdomTree Global High Dividend Fund (DEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDL achieves a 17.17% return, which is significantly lower than DEW's 19.31% return. Over the past 10 years, CDL has outperformed DEW with an annualized return of 11.17%, while DEW has yielded a comparatively lower 9.75% annualized return.

CDL

• 1D: -0.51%
• 1M: 0.29%
• 6M: 10.38%
• YTD: 17.17%
• 1Y: 22.30%
• 3Y*: 14.61%
• 5Y*: 10.44%
• 10Y*: 11.17%
• ALL TIME*: 11.29%

DEW

• 1D: -0.26%
• 1M: 4.29%
• 6M: 12.79%
• YTD: 19.31%
• 1Y: 30.52%
• 3Y*: 19.28%
• 5Y*: 12.89%
• 10Y*: 9.75%
• ALL TIME*: 6.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF	$504.48K	$625.50K	$553.90K
DEW WisdomTree Global High Dividend Fund	$1.14M	$632.09K	$360.65K

CDL vs. DEW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF	17.17%	9.04%	15.58%	3.03%	-0.45%	33.42%	-3.35%	26.38%	-5.86%	16.29%
DEW WisdomTree Global High Dividend Fund	19.31%	22.39%	11.58%	9.39%	-2.73%	21.29%	-7.32%	20.45%	-10.58%	15.38%

Correlation

The correlation between CDL and DEW is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015	0.85

The correlation between CDL and DEW has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

CDL vs. DEW - Sectors Allocation Comparison

Sectors	CDL	DEW
Utilities	24.3%	11.5%
Financial Services	24.1%	25.8%
Consumer Defensive	15.7%	8.8%
Energy	8.6%	14.5%
Healthcare	7.2%	10.2%
Consumer Cyclical	7.0%	3.5%
Technology	6.9%	2.5%
Communication Services	3.9%	4.0%
Industrials	2.3%	5.0%
Basic Materials	0.0%	2.6%
Real Estate	0.0%	11.7%

Return for Risk

CDL vs. DEW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CDL

CDL Risk / Return Rank: 88
CDL Sharpe Ratio Rank: 88
CDL Sortino Ratio Rank: 90
CDL Omega Ratio Rank: 84
CDL Calmar Ratio Rank: 90
CDL Martin Ratio Rank: 89

DEW

DEW Risk / Return Rank: 95
DEW Sharpe Ratio Rank: 97
DEW Sortino Ratio Rank: 96
DEW Omega Ratio Rank: 96
DEW Calmar Ratio Rank: 94
DEW Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CDL vs. DEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) and WisdomTree Global High Dividend Fund (DEW). 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.

	CDL	DEW	Difference
Sharpe ratio: Return per unit of total volatility	2.13	3.18	-1.05
Sortino ratio: Return per unit of downside risk	3.18	4.49	-1.32
Omega ratio: Gain probability vs. loss probability	1.36	1.58	-0.22
Calmar ratio: Return relative to maximum drawdown	3.87	4.77	-0.90
Martin ratio: Return relative to average drawdown	13.78	19.32	-5.54

CDL vs. DEW - Sharpe Ratio Comparison

The current CDL Sharpe Ratio is 2.13, which is lower than the DEW Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of CDL and DEW, 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

CDL vs. DEW - Drawdown Comparison

The maximum CDL drawdown since its inception was -41.03%, smaller than the maximum DEW drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for CDL and DEW.

Drawdown Indicators

	CDL	DEW	Difference
Max Drawdown Largest peak-to-trough decline	-41.03%	-65.55%	+24.52%
Max Drawdown (1Y) Largest decline over 1 year	-5.66%	-6.34%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	-12.87%	-11.80%	-1.07%
Max Drawdown (5Y) Largest decline over 5 years	-17.28%	-18.86%	+1.58%
Max Drawdown (10Y) Largest decline over 10 years	-41.03%	-38.77%	-2.26%
Current Drawdown Current decline from peak	-2.35%	-0.26%	-2.09%
Average Drawdown Average peak-to-trough decline	-4.29%	-12.34%	+8.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.56%	+0.03%

Volatility

CDL vs. DEW - Volatility Comparison

VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) has a higher volatility of 4.20% compared to WisdomTree Global High Dividend Fund (DEW) at 2.21%. This indicates that CDL's price experiences larger fluctuations and is considered to be riskier than DEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDL	DEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	2.21%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	7.24%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	9.55%	+0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	12.90%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	15.36%	+1.68%

CDL vs. DEW - Expense Ratio Comparison

CDL has a 0.35% expense ratio, which is lower than DEW's 0.58% expense ratio.

Dividends

CDL vs. DEW - Dividend Comparison

CDL's dividend yield for the trailing twelve months is around 3.06%, less than DEW's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF	3.06%	3.33%	3.27%	3.61%	3.31%	2.60%	3.32%	3.04%	3.32%	2.87%	2.97%	1.28%
DEW WisdomTree Global High Dividend Fund	3.12%	3.71%	4.02%	4.55%	3.82%	3.55%	4.10%	3.74%	4.17%	3.18%	3.42%	4.32%

Frequently Asked Questions

Can I hold both CDL and DEW in my portfolio?

CDL and DEW have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDL or DEW?

CDL has higher volatility (4.20%) compared to DEW (2.21%). In terms of maximum drawdown, CDL dropped -41.03% vs DEW's -65.55%.

Which ETF is better, CDL or DEW?

On 10-year performance, CDL leads with 11.17% vs 9.75% for DEW. On fees, CDL is cheaper at 0.35% per year. On volatility, DEW has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CDL or DEW?

Over the 10-year period, CDL has performed better with a 11.17% return vs 9.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CDL or DEW?

CDL is cheaper with a 0.35% expense ratio, compared with 0.58% for DEW.

Which ETF pays a higher dividend yield, CDL or DEW?

DEW has the higher dividend yield at 3.12%, compared with 3.06% for CDL.

What is the main difference between CDL and DEW?

CDL is categorized as Dividend, while DEW is Large Cap Value Equities. CDL tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while DEW tracks WisdomTree Global High Dividend Index. They also come from different issuers: Crestview and WisdomTree. Their fees differ too: 0.35% for CDL and 0.58% for DEW.

Which has better risk-adjusted returns?

DEW currently has the higher Sharpe Ratio (3.18 vs 2.13), 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.