DLN vs. VOO

Last updated Jun 23, 2026

DLN (WisdomTree U.S. LargeCap Dividend Fund) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - DLN is a Large Cap Value Equities fund tracking the WisdomTree U.S. LargeCap Dividend Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, DLN returned 12.87%/yr vs 15.77%/yr for VOO. Their correlation of 0.92 suggests significant overlap in exposure. DLN charges 0.28%/yr vs 0.03%/yr for VOO.

Performance

DLN vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. LargeCap Dividend Fund (DLN) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DLN having a 10.10% return and VOO slightly lower at 9.75%. Over the past 10 years, DLN has underperformed VOO with an annualized return of 12.87%, while VOO has yielded a comparatively higher 15.77% annualized return.

DLN

• 1D: 0.12%
• 1M: 0.19%
• YTD: 10.10%
• 6M: 9.85%
• 1Y: 22.40%
• 3Y*: 18.17%
• 5Y*: 12.65%
• 10Y*: 12.87%

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

DLN vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLN WisdomTree U.S. LargeCap Dividend Fund	10.10%	15.53%	19.66%	9.95%	-3.78%	25.60%	4.59%	28.91%	-5.82%	18.22%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between DLN and VOO is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.92

The correlation between DLN and VOO shifts across timeframes, from 0.76 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

DLN vs. VOO - Sectors Allocation Comparison

Sectors	DLN	VOO
Technology	22.8%	39.1%
Financial Services	17.4%	10.9%
Healthcare	12.6%	8.3%
Consumer Defensive	8.9%	4.5%
Energy	7.9%	3.2%
Industrials	7.8%	7.6%
Communication Services	7.5%	10.5%
Utilities	5.5%	2.5%
Consumer Cyclical	4.9%	9.8%
Real Estate	3.9%	1.8%
Basic Materials	1.0%	1.7%

Return for Risk

DLN vs. VOO — Risk / Return Rank

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

DLN

DLN Risk / Return Rank: 80
DLN Sharpe Ratio Rank: 81
DLN Sortino Ratio Rank: 83
DLN Omega Ratio Rank: 79
DLN Calmar Ratio Rank: 75
DLN Martin Ratio Rank: 81

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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.

DLN vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. LargeCap Dividend Fund (DLN) and Vanguard S&P 500 ETF (VOO). 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.

	DLN	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.17	+0.32
Sortino ratio: Return per unit of downside risk	3.54	2.93	+0.61
Omega ratio: Gain probability vs. loss probability	1.45	1.39	+0.05
Calmar ratio: Return relative to maximum drawdown	3.69	3.02	+0.67
Martin ratio: Return relative to average drawdown	15.49	13.58	+1.91

DLN vs. VOO - Sharpe Ratio Comparison

The current DLN Sharpe Ratio is 2.49, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DLN and VOO, 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

DLN vs. VOO - Drawdown Comparison

The maximum DLN drawdown since its inception was -57.84%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DLN and VOO.

Drawdown Indicators

	DLN	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-57.84%	-33.99%	-23.85%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-8.90%	+2.80%
Max Drawdown (3Y) Largest decline over 3 years	-13.71%	-18.69%	+4.98%
Max Drawdown (5Y) Largest decline over 5 years	-16.26%	-24.52%	+8.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.82%	-33.99%	-1.83%
Current Drawdown Current decline from peak	-0.99%	-1.74%	+0.75%
Average Drawdown Average peak-to-trough decline	-7.51%	-3.68%	-3.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	1.98%	-0.53%

Volatility

DLN vs. VOO - Volatility Comparison

The current volatility for WisdomTree U.S. LargeCap Dividend Fund (DLN) is 2.78%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.60%. This indicates that DLN experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLN	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	4.60%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	7.00%	9.73%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	9.04%	12.39%	-3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.27%	16.90%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.17%	18.05%	-1.88%

DLN vs. VOO - Expense Ratio Comparison

DLN has a 0.28% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

DLN vs. VOO - Dividend Comparison

DLN's dividend yield for the trailing twelve months is around 1.79%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both DLN and VOO in my portfolio?

DLN and VOO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLN or VOO?

VOO has higher volatility (4.60%) compared to DLN (2.78%). In terms of maximum drawdown, DLN dropped -57.84% vs VOO's -33.99%.

Which ETF is better, DLN or VOO?

On 10-year performance, VOO leads with 15.77% vs 12.87% for DLN. On fees, VOO is cheaper at 0.03% 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, DLN or VOO?

Over the 10-year period, VOO has performed better with a 15.77% return vs 12.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DLN or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.28% for DLN.

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

DLN has the higher dividend yield at 1.79%, compared with 1.04% for VOO.

What is the main difference between DLN and VOO?

DLN is categorized as Large Cap Value Equities, while VOO is S&P 500. DLN tracks WisdomTree U.S. LargeCap Dividend Index, while VOO tracks S&P 500 Index. They also come from different issuers: WisdomTree and Vanguard. Their fees differ too: 0.28% for DLN and 0.03% for VOO.

Which has better risk-adjusted returns?

DLN currently has the higher Sharpe Ratio (2.49 vs 2.17), 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.