DIVL vs. DLN

Last updated Jun 24, 2026

DIVL (Madison Dividend Value ETF) and DLN (WisdomTree U.S. LargeCap Dividend Fund) are both Large Cap Value Equities funds. DIVL is actively managed, while DLN is passively managed. Over the past year, DIVL returned 13.28% vs 21.42% for DLN. Their correlation of 0.89 suggests significant overlap in exposure. DIVL charges 0.65%/yr vs 0.28%/yr for DLN.

Performance

DIVL vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Dividend Value ETF (DIVL) and WisdomTree U.S. LargeCap Dividend Fund (DLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVL achieves a 7.33% return, which is significantly lower than DLN's 9.95% return.

DIVL

• 1D: -0.59%
• 1M: -1.84%
• YTD: 7.33%
• 6M: 6.66%
• 1Y: 13.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DLN

• 1D: -0.13%
• 1M: 0.05%
• YTD: 9.95%
• 6M: 9.49%
• 1Y: 21.42%
• 3Y*: 18.12%
• 5Y*: 12.49%
• 10Y*: 12.86%

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

DIVL vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DIVL Madison Dividend Value ETF	7.33%	9.83%	8.81%	1.30%
DLN WisdomTree U.S. LargeCap Dividend Fund	9.95%	15.53%	19.66%	4.10%

Correlation

The correlation between DIVL and DLN is 0.84, 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	0.84
Correlation (All Time) Calculated using the full available price history since Aug 15, 2023	0.89

The correlation between DIVL and DLN has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

DIVL vs. DLN - Sectors Allocation Comparison

Sectors	DIVL	DLN
Energy	16.5%	7.9%
Industrials	15.9%	7.8%
Financial Services	13.9%	17.4%
Healthcare	11.5%	12.6%
Consumer Defensive	11.3%	8.9%
Technology	9.0%	22.8%
Consumer Cyclical	7.4%	4.9%
Basic Materials	6.5%	1.0%
Utilities	5.5%	5.5%
Real Estate	2.4%	3.9%
Communication Services	-	7.5%

Return for Risk

DIVL vs. DLN — Risk / Return Rank

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

DIVL

DIVL Risk / Return Rank: 38
DIVL Sharpe Ratio Rank: 38
DIVL Sortino Ratio Rank: 38
DIVL Omega Ratio Rank: 35
DIVL Calmar Ratio Rank: 42
DIVL Martin Ratio Rank: 38

DLN

DLN Risk / Return Rank: 78
DLN Sharpe Ratio Rank: 79
DLN Sortino Ratio Rank: 81
DLN Omega Ratio Rank: 77
DLN Calmar Ratio Rank: 73
DLN Martin Ratio Rank: 79

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.

DIVL vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Dividend Value ETF (DIVL) and WisdomTree U.S. LargeCap Dividend Fund (DLN). 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.

	DIVL	DLN	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.39	-1.14
Sortino ratio: Return per unit of downside risk	1.84	3.40	-1.56
Omega ratio: Gain probability vs. loss probability	1.22	1.43	-0.21
Calmar ratio: Return relative to maximum drawdown	1.92	3.53	-1.60
Martin ratio: Return relative to average drawdown	5.52	14.80	-9.27

DIVL vs. DLN - Sharpe Ratio Comparison

The current DIVL Sharpe Ratio is 1.25, which is lower than the DLN Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of DIVL and DLN, 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

DIVL vs. DLN - Drawdown Comparison

The maximum DIVL drawdown since its inception was -14.06%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for DIVL and DLN.

Drawdown Indicators

	DIVL	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-14.06%	-57.84%	+43.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-6.10%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.82%	—
Current Drawdown Current decline from peak	-4.08%	-1.12%	-2.96%
Average Drawdown Average peak-to-trough decline	-2.58%	-7.50%	+4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	1.45%	+0.96%

Volatility

DIVL vs. DLN - Volatility Comparison

Madison Dividend Value ETF (DIVL) has a higher volatility of 3.06% compared to WisdomTree U.S. LargeCap Dividend Fund (DLN) at 2.78%. This indicates that DIVL's price experiences larger fluctuations and is considered to be riskier than DLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVL	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.78%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	7.94%	7.00%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.70%	9.03%	+1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.35%	13.27%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.35%	16.14%	-3.79%

DIVL vs. DLN - Expense Ratio Comparison

DIVL has a 0.65% expense ratio, which is higher than DLN's 0.28% expense ratio.

Dividends

DIVL vs. DLN - Dividend Comparison

DIVL's dividend yield for the trailing twelve months is around 1.78%, which matches DLN's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVL Madison Dividend Value ETF	1.78%	1.80%	2.19%	1.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DLN WisdomTree U.S. LargeCap Dividend Fund	1.79%	1.90%	2.00%	2.43%	2.53%	2.01%	2.66%	2.51%	2.90%	2.33%	2.64%	2.80%

Frequently Asked Questions

Can I hold both DIVL and DLN in my portfolio?

DIVL and DLN have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVL or DLN?

DIVL has higher volatility (3.06%) compared to DLN (2.78%). In terms of maximum drawdown, DIVL dropped -14.06% vs DLN's -57.84%.

Which ETF is better, DIVL or DLN?

On 1-year performance, DLN leads with 21.42% vs 13.28% for DIVL. On fees, DLN is cheaper at 0.28% per year. On volatility, DLN has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVL or DLN?

Over the 1-year period, DLN has performed better with a 21.42% return vs 13.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVL or DLN?

DLN is cheaper with a 0.28% expense ratio, compared with 0.65% for DIVL.

Which ETF pays a higher dividend yield, DIVL or DLN?

DIVL and DLN have nearly identical dividend yields, around 1.78%.

What is the main difference between DIVL and DLN?

They also come from different issuers: Madison and WisdomTree. Their fees differ too: 0.65% for DIVL and 0.28% for DLN.

Which has better risk-adjusted returns?

DLN currently has the higher Sharpe Ratio (2.39 vs 1.25), 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.