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DLS vs. IWR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DLS vs. IWR

Last updated Jun 14, 2026

DLS (WisdomTree International SmallCap Dividend) and IWR (iShares Russell Midcap ETF) are both exchange-traded funds - DLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree International SmallCap Dividend Index, while IWR is a Mid Cap Growth Equities fund tracking the Russell Midcap Index. Both are passively managed. Over the past 10 years, DLS returned 8.07%/yr vs 11.79%/yr for IWR. A 0.77 correlation means they provide meaningful diversification when combined. DLS charges 0.58%/yr vs 0.19%/yr for IWR.

Performance

DLS vs. IWR - Performance Comparison

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

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Returns By Period

In the year-to-date period, DLS achieves a 7.56% return, which is significantly lower than IWR's 13.23% return. Over the past 10 years, DLS has underperformed IWR with an annualized return of 8.07%, while IWR has yielded a comparatively higher 11.79% annualized return.

DLS

1D
0.13%
1M
0.56%
YTD
7.56%
6M
9.92%
1Y
23.02%
3Y*
16.92%
5Y*
6.78%
10Y*
8.07%

IWR

1D
0.93%
1M
4.85%
YTD
13.23%
6M
11.96%
1Y
23.37%
3Y*
16.40%
5Y*
7.99%
10Y*
11.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DLS vs. IWR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DLS
WisdomTree International SmallCap Dividend		7.56%34.11%3.06%15.33%-17.31%11.71%-1.28%22.20%-18.95%31.83%
IWR
iShares Russell Midcap ETF		13.23%10.37%15.21%17.05%-17.48%22.44%16.93%30.23%-9.10%18.25%

Correlation

The correlation between DLS and IWR is 0.68, 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

0.68

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (10Y)
Calculated over the trailing 10-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2006

0.77

The correlation between DLS and IWR has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

DLS vs. IWR - Sectors Allocation Comparison

Sectors
DLS
IWR

Industrials

27.8%
18.1%

Financial Services

13.4%
12.1%

Consumer Cyclical

12.7%
11.1%

Basic Materials

9.2%
4.2%

Technology

8.9%
19.6%

Consumer Defensive

7.6%
3.9%

Real Estate

7.6%
6.8%

Communication Services

4.3%
3.3%

Healthcare

3.6%
8.7%

Energy

2.7%
6.5%

Utilities

2.0%
5.7%

Industrials

DLS
27.8%
IWR
18.1%

Financial Services

DLS
13.4%
IWR
12.1%

Consumer Cyclical

DLS
12.7%
IWR
11.1%

Basic Materials

DLS
9.2%
IWR
4.2%

Technology

DLS
8.9%
IWR
19.6%

Consumer Defensive

DLS
7.6%
IWR
3.9%

Real Estate

DLS
7.6%
IWR
6.8%

Communication Services

DLS
4.3%
IWR
3.3%

Healthcare

DLS
3.6%
IWR
8.7%

Energy

DLS
2.7%
IWR
6.5%

Utilities

DLS
2.0%
IWR
5.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree International SmallCap Dividend

iShares Russell Midcap ETF

Often compared with DLS:
DLS vs. AVDVDLS vs. DDLSDLS vs. VSSDLS vs. DGSDLS vs. ISVLDLS vs. FNDCDLS vs. VEA
Often compared with IWR:
IWR vs. VOIWR vs. IWDIWR vs. SPMDIWR vs. IWNIWR vs. SCHMIWR vs. VXFIWR vs. REGL

Return for Risk

DLS vs. IWR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DLS
DLS Risk / Return Rank: 5050
Overall Rank
DLS Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
DLS Sortino Ratio Rank: 5353
Sortino Ratio Rank
DLS Omega Ratio Rank: 5252
Omega Ratio Rank
DLS Calmar Ratio Rank: 4545
Calmar Ratio Rank
DLS Martin Ratio Rank: 4848
Martin Ratio Rank
IWR
IWR Risk / Return Rank: 5656
Overall Rank
IWR Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
IWR Sortino Ratio Rank: 5454
Sortino Ratio Rank
IWR Omega Ratio Rank: 4949
Omega Ratio Rank
IWR Calmar Ratio Rank: 6161
Calmar Ratio Rank
IWR Martin Ratio Rank: 6565
Martin Ratio Rank
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. IWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International SmallCap Dividend (DLS) and iShares Russell Midcap ETF (IWR). 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.

DLSIWRDifference
Sharpe ratioReturn per unit of total volatility
1.58
1.59

-0.01

Sortino ratioReturn per unit of downside risk
2.27
2.28

-0.01

Omega ratioGain probability vs. loss probability

1.29

1.28

+0.01

Calmar ratioReturn relative to maximum drawdown

1.97

2.68

-0.71

Martin ratioReturn relative to average drawdown

7.11

10.26

-3.15

DLS vs. IWR - Sharpe Ratio Comparison

The current DLS Sharpe Ratio is 1.58, which is comparable to the IWR Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of DLS and IWR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DLS vs. IWR - Drawdown Comparison

The maximum DLS drawdown since its inception was -63.13%, which is greater than IWR's maximum drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for DLS and IWR.

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Drawdown Indicators

DLSIWRDifference

Max Drawdown

Largest peak-to-trough decline

-63.13%

-58.78%

-4.35%

Max Drawdown (1Y)

Largest decline over 1 year

-11.04%

-8.17%

-2.87%

Max Drawdown (3Y)

Largest decline over 3 years

-12.69%

-21.09%

+8.40%

Max Drawdown (5Y)

Largest decline over 5 years

-32.22%

-26.18%

-6.04%

Max Drawdown (10Y)

Largest decline over 10 years

-44.77%

-40.59%

-4.18%

Current Drawdown

Current decline from peak

-2.36%

0.00%

-2.36%

Average Drawdown

Average peak-to-trough decline

-13.63%

-7.80%

-5.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.06%

2.13%

+0.93%

Volatility

DLS vs. IWR - Volatility Comparison

WisdomTree International SmallCap Dividend (DLS) has a higher volatility of 4.90% compared to iShares Russell Midcap ETF (IWR) at 4.49%. This indicates that DLS's price experiences larger fluctuations and is considered to be riskier than IWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DLSIWRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.90%

4.49%

+0.41%

Volatility (6M)

Calculated over the trailing 6-month period

11.48%

10.34%

+1.14%

Volatility (1Y)

Calculated over the trailing 1-year period

13.81%

13.79%

+0.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.64%

18.28%

-2.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.68%

19.38%

-2.70%

DLS vs. IWR - Expense Ratio Comparison

DLS has a 0.58% expense ratio, which is higher than IWR's 0.19% expense ratio.

Dividends

DLS vs. IWR - Dividend Comparison

DLS's dividend yield for the trailing twelve months is around 3.47%, more than IWR's 1.14% yield.

PositionTTM20252024202320222021202020192018201720162015
DLS
WisdomTree International SmallCap Dividend		3.47%3.87%4.56%4.29%4.96%3.29%2.50%3.37%3.66%2.79%3.29%2.72%
IWR
iShares Russell Midcap ETF		1.14%1.29%1.27%1.43%1.59%1.04%1.28%1.43%1.98%1.52%1.72%1.59%

Frequently Asked Questions

DLS and IWR have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DLS has higher volatility (4.90%) compared to IWR (4.49%). In terms of maximum drawdown, DLS dropped -63.13% vs IWR's -58.78%.

On 10-year performance, IWR leads with 11.79% vs 8.07% for DLS. On fees, IWR is cheaper at 0.19% per year. On volatility, IWR has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWR has performed better with a 11.79% return vs 8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWR is cheaper with a 0.19% expense ratio, compared with 0.58% for DLS.

DLS has the higher dividend yield at 3.47%, compared with 1.14% for IWR.

DLS is categorized as Foreign Small & Mid Cap Equities, while IWR is Mid Cap Growth Equities. DLS tracks WisdomTree International SmallCap Dividend Index, while IWR tracks Russell Midcap Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for DLS and 0.19% for IWR.

IWR currently has the higher Sharpe Ratio (1.59 vs 1.58), 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.

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