DLS vs. ISVL

Last updated Jun 23, 2026

DLS (WisdomTree International SmallCap Dividend) and ISVL (iShares International Developed Small Cap Value Factor ETF) are both exchange-traded funds - DLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree International SmallCap Dividend Index, while ISVL is a Small Cap Value Equities fund tracking the FTSE Developed ex US ex Korea Small Cap Focused Value Index. Both are passively managed. Over the past 5 years, DLS returned 7.27%/yr vs 11.08%/yr for ISVL. With a 0.96 correlation, they move nearly in lockstep. DLS charges 0.58%/yr vs 0.30%/yr for ISVL.

Performance

DLS vs. ISVL - Performance Comparison

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

Returns By Period

In the year-to-date period, DLS achieves a 6.66% return, which is significantly lower than ISVL's 9.12% return.

DLS

• 1D: -0.01%
• 1M: -0.67%
• YTD: 6.66%
• 6M: 7.69%
• 1Y: 22.64%
• 3Y*: 17.89%
• 5Y*: 7.27%
• 10Y*: 8.34%

ISVL

• 1D: 0.28%
• 1M: 0.13%
• YTD: 9.12%
• 6M: 9.39%
• 1Y: 29.74%
• 3Y*: 22.30%
• 5Y*: 11.08%
• 10Y*: —

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

DLS vs. ISVL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DLS WisdomTree International SmallCap Dividend	6.66%	34.11%	3.06%	15.33%	-17.31%	6.11%
ISVL iShares International Developed Small Cap Value Factor ETF	9.12%	42.84%	4.58%	17.56%	-13.69%	8.32%

Correlation

The correlation between DLS and ISVL is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.96

The correlation between DLS and ISVL has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

DLS vs. ISVL - Sectors Allocation Comparison

Sectors	DLS	ISVL
Industrials	27.8%	22.1%
Financial Services	13.4%	21.4%
Consumer Cyclical	12.7%	11.1%
Basic Materials	9.2%	10.1%
Technology	8.9%	4.9%
Consumer Defensive	7.6%	4.7%
Real Estate	7.6%	10.8%
Communication Services	4.3%	2.8%
Healthcare	3.6%	3.5%
Energy	2.7%	6.0%
Utilities	2.0%	1.3%

Return for Risk

DLS vs. ISVL — Risk / Return Rank

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

DLS

DLS Risk / Return Rank: 47
DLS Sharpe Ratio Rank: 49
DLS Sortino Ratio Rank: 50
DLS Omega Ratio Rank: 49
DLS Calmar Ratio Rank: 43
DLS Martin Ratio Rank: 46

ISVL

ISVL Risk / Return Rank: 59
ISVL Sharpe Ratio Rank: 63
ISVL Sortino Ratio Rank: 63
ISVL Omega Ratio Rank: 63
ISVL Calmar Ratio Rank: 50
ISVL Martin Ratio Rank: 55

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. ISVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International SmallCap Dividend (DLS) and iShares International Developed Small Cap Value Factor ETF (ISVL). 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.

	DLS	ISVL	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.02	-0.37
Sortino ratio: Return per unit of downside risk	2.37	2.85	-0.47
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.07
Calmar ratio: Return relative to maximum drawdown	2.06	2.39	-0.33
Martin ratio: Return relative to average drawdown	7.37	9.34	-1.98

DLS vs. ISVL - Sharpe Ratio Comparison

The current DLS Sharpe Ratio is 1.65, which is comparable to the ISVL Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of DLS and ISVL, 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

DLS vs. ISVL - Drawdown Comparison

The maximum DLS drawdown since its inception was -63.13%, which is greater than ISVL's maximum drawdown of -30.48%. Use the drawdown chart below to compare losses from any high point for DLS and ISVL.

Drawdown Indicators

	DLS	ISVL	Difference
Max Drawdown Largest peak-to-trough decline	-63.13%	-30.48%	-32.65%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-12.48%	+1.44%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-12.93%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-32.22%	-30.48%	-1.74%
Max Drawdown (10Y) Largest decline over 10 years	-44.77%	—	—
Current Drawdown Current decline from peak	-3.18%	-1.56%	-1.62%
Average Drawdown Average peak-to-trough decline	-13.62%	-6.61%	-7.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	3.19%	-0.11%

Volatility

DLS vs. ISVL - Volatility Comparison

WisdomTree International SmallCap Dividend (DLS) and iShares International Developed Small Cap Value Factor ETF (ISVL) have volatilities of 4.38% and 4.43%, 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	ISVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	4.43%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	11.49%	12.45%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	13.78%	14.79%	-1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	16.92%	-1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	16.77%	-0.12%

DLS vs. ISVL - Expense Ratio Comparison

DLS has a 0.58% expense ratio, which is higher than ISVL's 0.30% expense ratio.

Dividends

DLS vs. ISVL - Dividend Comparison

DLS's dividend yield for the trailing twelve months is around 3.50%, more than ISVL's 3.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
ISVL iShares International Developed Small Cap Value Factor ETF	3.16%	2.69%	3.92%	3.82%	3.37%	2.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DLS and ISVL in my portfolio?

With a correlation of 0.93, DLS and ISVL 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 ISVL?

ISVL has higher volatility (4.43%) compared to DLS (4.38%). In terms of maximum drawdown, DLS dropped -63.13% vs ISVL's -30.48%.

Which ETF is better, DLS or ISVL?

On 5-year performance, ISVL leads with 11.08% vs 7.27% for DLS. On fees, ISVL is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DLS or ISVL?

Over the 5-year period, ISVL has performed better with a 11.08% return vs 7.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DLS or ISVL?

ISVL is cheaper with a 0.30% expense ratio, compared with 0.58% for DLS.

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

DLS has the higher dividend yield at 3.50%, compared with 3.16% for ISVL.

What is the main difference between DLS and ISVL?

DLS is categorized as Foreign Small & Mid Cap Equities, while ISVL is Small Cap Value Equities. DLS tracks WisdomTree International SmallCap Dividend Index, while ISVL tracks FTSE Developed ex US ex Korea Small Cap Focused Value Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for DLS and 0.30% for ISVL.

Which has better risk-adjusted returns?

ISVL currently has the higher Sharpe Ratio (2.02 vs 1.65), 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.