DLS vs. DGRW

Last updated Jun 4, 2026

DLS (WisdomTree International SmallCap Dividend) and DGRW (WisdomTree U.S. Dividend Growth Fund) are both exchange-traded funds - DLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree International SmallCap Dividend Index, while DGRW is a Large Cap Growth Equities fund tracking the WisdomTree U.S. Dividend Growth Index. Both are passively managed. Over the past 10 years, DLS returned 7.46%/yr vs 14.15%/yr for DGRW. A 0.72 correlation means they provide meaningful diversification when combined. DLS charges 0.58%/yr vs 0.28%/yr for DGRW.

Performance

DLS vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International SmallCap Dividend (DLS) and WisdomTree U.S. Dividend Growth Fund (DGRW). 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 DGRW's 9.10% return. Over the past 10 years, DLS has underperformed DGRW with an annualized return of 7.46%, while DGRW has yielded a comparatively higher 14.15% annualized 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%

DGRW

• 1D: -0.83%
• 1M: 4.06%
• YTD: 9.10%
• 6M: 8.62%
• 1Y: 20.79%
• 3Y*: 16.64%
• 5Y*: 12.17%
• 10Y*: 14.15%

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

DLS vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLS WisdomTree International SmallCap Dividend	6.63%	34.11%	3.06%	15.33%	-17.31%	11.71%	-1.28%	22.20%	-18.95%	31.83%
DGRW WisdomTree U.S. Dividend Growth Fund	9.10%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between DLS and DGRW is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 23, 2013	0.72

The correlation between DLS and DGRW has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.

DLS vs. DGRW - Sectors Allocation Comparison

Sectors	DLS	DGRW
Industrials	27.8%	9.9%
Financial Services	13.3%	11.3%
Consumer Cyclical	12.8%	7.1%
Basic Materials	8.9%	3.3%
Technology	8.4%	32.1%
Consumer Defensive	7.9%	6.7%
Real Estate	7.8%	-
Communication Services	4.4%	10.1%
Healthcare	3.7%	12.8%
Energy	3.0%	5.0%
Utilities	2.1%	0.2%

Return for Risk

DLS vs. DGRW — 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

DGRW

DGRW Risk / Return Rank: 60
DGRW Sharpe Ratio Rank: 61
DGRW Sortino Ratio Rank: 65
DGRW Omega Ratio Rank: 63
DGRW Calmar Ratio Rank: 50
DGRW Martin Ratio Rank: 61

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. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International SmallCap Dividend (DLS) and WisdomTree U.S. Dividend Growth Fund (DGRW). 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	DGRW	Difference
Sharpe ratio Return per unit of total volatility	1.69	2.12	-0.42
Sortino ratio Return per unit of downside risk	2.41	3.09	-0.67
Omega ratio Gain probability vs. loss probability	1.31	1.39	-0.09
Calmar ratio Return relative to maximum drawdown	2.05	2.52	-0.46
Martin ratio Return relative to average drawdown	7.55	11.03	-3.48
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. DGRW - Sharpe Ratio Comparison

The current DLS Sharpe Ratio is 1.69, which is comparable to the DGRW Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of DLS and DGRW, 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	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	2.12	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.88	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.88	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.86	-0.52

Drawdowns

DLS vs. DGRW - Drawdown Comparison

The maximum DLS drawdown since its inception was -63.13%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for DLS and DGRW.

Drawdown Indicators

	DLS	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-63.13%	-32.04%	-31.09%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-8.30%	-2.74%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-16.21%	+3.52%
Max Drawdown (5Y) Largest decline over 5 years	-32.22%	-17.27%	-14.95%
Max Drawdown (10Y) Largest decline over 10 years	-44.77%	-32.04%	-12.73%
Current Drawdown Current decline from peak	-3.20%	-0.83%	-2.37%
Average Drawdown Average peak-to-trough decline	-13.65%	-3.01%	-10.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	1.89%	+1.10%

Volatility

DLS vs. DGRW - Volatility Comparison

WisdomTree International SmallCap Dividend (DLS) has a higher volatility of 4.58% compared to WisdomTree U.S. Dividend Growth Fund (DGRW) at 2.47%. This indicates that DLS's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLS	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	2.47%	+2.11%
Volatility (6M) Calculated over the trailing 6-month period	10.98%	7.64%	+3.34%
Volatility (1Y) Calculated over the trailing 1-year period	13.44%	9.88%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	13.97%	+1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	16.21%	+0.46%

DLS vs. DGRW - Expense Ratio Comparison

DLS has a 0.58% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

DLS vs. DGRW - Dividend Comparison

DLS's dividend yield for the trailing twelve months is around 3.50%, more than DGRW's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
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 DGRW in my portfolio?

DLS and DGRW have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLS or DGRW?

DLS has higher volatility (4.58%) compared to DGRW (2.47%). In terms of maximum drawdown, DLS dropped -63.13% vs DGRW's -32.04%.

Which ETF is better, DLS or DGRW?

On 10-year performance, DGRW leads with 14.15% vs 7.46% for DLS. On fees, DGRW is cheaper at 0.28% per year. On volatility, DGRW has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DLS or DGRW?

Over the 10-year period, DGRW has performed better with a 14.15% return vs 7.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DLS or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.58% for DLS.

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

DLS has the higher dividend yield at 3.50%, compared with 1.27% for DGRW.

What is the main difference between DLS and DGRW?

DLS is categorized as Foreign Small & Mid Cap Equities, while DGRW is Large Cap Growth Equities. DLS tracks WisdomTree International SmallCap Dividend Index, while DGRW tracks WisdomTree U.S. Dividend Growth Index. Their fees differ too: 0.58% for DLS and 0.28% for DGRW.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (2.12 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.