DLS vs. DFIS

Last updated Jun 4, 2026

DLS (WisdomTree International SmallCap Dividend) and DFIS (Dimensional International Small Cap ETF) are both Foreign Small & Mid Cap Equities funds. DLS is passively managed, while DFIS is actively managed. Over the past 3 years, DLS returned 17.27%/yr vs 19.32%/yr for DFIS. With a 0.96 correlation, they move nearly in lockstep. DLS charges 0.58%/yr vs 0.39%/yr for DFIS.

Performance

DLS vs. DFIS - Performance Comparison

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

Returns By Period

In the year-to-date period, DLS achieves a 6.63% return, which is significantly lower than DFIS's 10.27% return.

DLS

• 1D: -0.94%
• 1M: 0.80%
• YTD: 6.63%
• 6M: 9.37%
• 1Y: 22.56%
• 3Y*: 17.27%
• 5Y*: 6.55%
• 10Y*: 7.46%

DFIS

• 1D: -1.12%
• 1M: 2.92%
• YTD: 10.27%
• 6M: 13.97%
• 1Y: 28.03%
• 3Y*: 19.32%
• 5Y*: —
• 10Y*: —

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

DLS vs. DFIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DLS WisdomTree International SmallCap Dividend	6.63%	34.11%	3.06%	15.33%	-11.54%
DFIS Dimensional International Small Cap ETF	10.27%	37.49%	3.80%	15.19%	-12.94%

Correlation

The correlation between DLS and DFIS is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 25, 2022	0.96

The correlation between DLS and DFIS has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

DLS vs. DFIS - Sectors Allocation Comparison

Sectors	DLS	DFIS
Industrials	27.8%	23.9%
Financial Services	13.3%	12.0%
Consumer Cyclical	12.8%	13.5%
Basic Materials	8.9%	14.2%
Technology	8.4%	9.6%
Consumer Defensive	7.9%	5.0%
Real Estate	7.8%	3.7%
Communication Services	4.4%	3.6%
Healthcare	3.7%	5.2%
Energy	3.0%	6.0%
Utilities	2.1%	3.3%

Return for Risk

DLS vs. DFIS — Risk / Return Rank

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

DLS

DLS Risk / Return Rank: 46
DLS Sharpe Ratio Rank: 48
DLS Sortino Ratio Rank: 48
DLS Omega Ratio Rank: 48
DLS Calmar Ratio Rank: 41
DLS Martin Ratio Rank: 45

DFIS

DFIS Risk / Return Rank: 53
DFIS Sharpe Ratio Rank: 56
DFIS Sortino Ratio Rank: 56
DFIS Omega Ratio Rank: 55
DFIS Calmar Ratio Rank: 46
DFIS Martin Ratio Rank: 51

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.

DLS vs. DFIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International SmallCap Dividend (DLS) and Dimensional International Small Cap ETF (DFIS). 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.

	DLS	DFIS	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.94	-0.25
Sortino ratio: Return per unit of downside risk	2.41	2.71	-0.30
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	2.05	2.26	-0.21
Martin ratio: Return relative to average drawdown	7.55	8.73	-1.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DLS vs. DFIS - Sharpe Ratio Comparison

The current DLS Sharpe Ratio is 1.69, which is comparable to the DFIS Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of DLS and DFIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DLS	DFIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	1.94	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.67	-0.33

Drawdowns

DLS vs. DFIS - Drawdown Comparison

The maximum DLS drawdown since its inception was -63.13%, which is greater than DFIS's maximum drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for DLS and DFIS.

Drawdown Indicators

	DLS	DFIS	Difference
Max Drawdown Largest peak-to-trough decline	-63.13%	-27.23%	-35.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-12.44%	+1.40%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-13.55%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-32.22%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.77%	—	—
Current Drawdown Current decline from peak	-3.20%	-1.91%	-1.29%
Average Drawdown Average peak-to-trough decline	-13.65%	-6.17%	-7.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	3.22%	-0.23%

Volatility

DLS vs. DFIS - Volatility Comparison

WisdomTree International SmallCap Dividend (DLS) and Dimensional International Small Cap ETF (DFIS) have volatilities of 4.58% and 4.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLS	DFIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	4.71%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	10.98%	12.04%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.44%	14.54%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	17.32%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	17.32%	-0.65%

DLS vs. DFIS - Expense Ratio Comparison

DLS has a 0.58% expense ratio, which is higher than DFIS's 0.39% expense ratio.

Dividends

DLS vs. DFIS - Dividend Comparison

DLS's dividend yield for the trailing twelve months is around 3.50%, more than DFIS's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIS Dimensional International Small Cap ETF	2.02%	2.23%	2.19%	2.36%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DLS WisdomTree International SmallCap Dividend	3.50%	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 DLS and DFIS in my portfolio?

With a correlation of 0.95, DLS and DFIS 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, DLS or DFIS?

DFIS has higher volatility (4.71%) compared to DLS (4.58%). In terms of maximum drawdown, DLS dropped -63.13% vs DFIS's -27.23%.

Which ETF is better, DLS or DFIS?

On 3-year performance, DFIS leads with 19.32% vs 17.27% for DLS. On fees, DFIS is cheaper at 0.39% per year. On volatility, DLS has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DLS or DFIS?

Over the 3-year period, DFIS has performed better with a 19.32% return vs 17.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DLS or DFIS?

DFIS is cheaper with a 0.39% expense ratio, compared with 0.58% for DLS.

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

DLS has the higher dividend yield at 3.50%, compared with 2.02% for DFIS.

What is the main difference between DLS and DFIS?

They also come from different issuers: WisdomTree and Dimensional. Their fees differ too: 0.58% for DLS and 0.39% for DFIS.

Which has better risk-adjusted returns?

DFIS currently has the higher Sharpe Ratio (1.94 vs 1.69), 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.