DLS vs. VEA

Last updated Aug 2, 2026

DLS (WisdomTree International SmallCap Dividend) and VEA (Vanguard FTSE Developed Markets ETF) are both exchange-traded funds - DLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree International SmallCap Dividend Index, while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 10 years, DLS returned 7.86%/yr vs 10.05%/yr for VEA. Their correlation of 0.93 means they have usually moved in the same direction. DLS charges 0.58%/yr vs 0.03%/yr for VEA.

Performance

DLS vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International SmallCap Dividend (DLS) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLS achieves a 8.42% return, which is significantly lower than VEA's 13.84% return. Over the past 10 years, DLS has underperformed VEA with an annualized return of 7.86%, while VEA has yielded a comparatively higher 10.05% annualized return.

DLS

• 1D: -0.16%
• 1M: 1.24%
• 6M: 3.30%
• YTD: 8.42%
• 1Y: 18.36%
• 3Y*: 16.62%
• 5Y*: 7.13%
• 10Y*: 7.86%
• ALL TIME*: 6.44%

VEA

• 1D: -0.66%
• 1M: -0.27%
• 6M: 7.42%
• YTD: 13.84%
• 1Y: 29.71%
• 3Y*: 18.08%
• 5Y*: 9.76%
• 10Y*: 10.05%
• ALL TIME*: 5.13%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DLS WisdomTree International SmallCap Dividend	$1.54M	$1.48M	$1.54M
VEA Vanguard FTSE Developed Markets ETF	$674.44M	$796.70M	$806.62M

DLS vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLS WisdomTree International SmallCap Dividend	8.42%	34.11%	3.06%	15.33%	-17.31%	11.71%	-1.28%	22.20%	-18.95%	31.83%
VEA Vanguard FTSE Developed Markets ETF	13.84%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between DLS and VEA is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007	0.93

The correlation between DLS and VEA has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

DLS vs. VEA - Sectors Allocation Comparison

Sectors	DLS	VEA
Industrials	28.0%	17.9%
Financial Services	13.8%	23.1%
Consumer Cyclical	12.9%	7.3%
Technology	9.1%	18.4%
Basic Materials	9.0%	6.9%
Consumer Defensive	7.7%	5.3%
Real Estate	7.4%	2.5%
Communication Services	4.2%	3.2%
Healthcare	3.6%	7.9%
Energy	2.4%	4.5%
Utilities	2.0%	3.1%

Return for Risk

DLS vs. VEA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DLS

DLS Risk / Return Rank: 53
DLS Sharpe Ratio Rank: 56
DLS Sortino Ratio Rank: 58
DLS Omega Ratio Rank: 56
DLS Calmar Ratio Rank: 47
DLS Martin Ratio Rank: 49

VEA

VEA Risk / Return Rank: 75
VEA Sharpe Ratio Rank: 76
VEA Sortino Ratio Rank: 74
VEA Omega Ratio Rank: 75
VEA Calmar Ratio Rank: 73
VEA Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DLS vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International SmallCap Dividend (DLS) and Vanguard FTSE Developed Markets ETF (VEA). 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	VEA	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.71	-0.36
Sortino ratio: Return per unit of downside risk	1.96	2.37	-0.40
Omega ratio: Gain probability vs. loss probability	1.25	1.31	-0.06
Calmar ratio: Return relative to maximum drawdown	1.69	2.53	-0.84
Martin ratio: Return relative to average drawdown	5.71	9.44	-3.73

DLS vs. VEA - Sharpe Ratio Comparison

The current DLS Sharpe Ratio is 1.34, which is comparable to the VEA Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of DLS and VEA, 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. VEA - Drawdown Comparison

The maximum DLS drawdown since its inception was -63.13%, roughly equal to the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for DLS and VEA.

Drawdown Indicators

	DLS	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-63.13%	-60.68%	-2.45%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-11.63%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-13.45%	+0.76%
Max Drawdown (5Y) Largest decline over 5 years	-32.22%	-29.71%	-2.51%
Max Drawdown (10Y) Largest decline over 10 years	-44.77%	-35.73%	-9.04%
Current Drawdown Current decline from peak	-1.58%	-2.45%	+0.87%
Average Drawdown Average peak-to-trough decline	-13.56%	-13.20%	-0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.10%	+0.16%

Volatility

DLS vs. VEA - Volatility Comparison

The current volatility for WisdomTree International SmallCap Dividend (DLS) is 4.23%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 5.40%. This indicates that DLS experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLS	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	5.40%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	11.84%	15.40%	-3.56%
Volatility (1Y) Calculated over the trailing 1-year period	13.89%	17.25%	-3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	16.84%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.38%	17.21%	-0.83%

DLS vs. VEA - Expense Ratio Comparison

DLS has a 0.58% expense ratio, which is higher than VEA's 0.03% expense ratio.

Dividends

DLS vs. VEA - Dividend Comparison

DLS's dividend yield for the trailing twelve months is around 3.51%, more than VEA's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLS WisdomTree International SmallCap Dividend	3.51%	3.87%	4.56%	4.29%	4.96%	3.29%	2.50%	3.37%	3.66%	2.79%	3.29%	2.72%
VEA Vanguard FTSE Developed Markets ETF	2.57%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both DLS and VEA in my portfolio?

DLS and VEA have a correlation of 0.88, 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 VEA?

VEA has higher volatility (5.40%) compared to DLS (4.23%). In terms of maximum drawdown, DLS dropped -63.13% vs VEA's -60.68%.

Which ETF is better, DLS or VEA?

On 10-year performance, VEA leads with 10.05% vs 7.86% for DLS. On fees, VEA is cheaper at 0.03% per year. On volatility, DLS has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DLS or VEA?

Over the 10-year period, VEA has performed better with a 10.05% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DLS or VEA?

VEA is cheaper with a 0.03% expense ratio, compared with 0.58% for DLS.

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

DLS has the higher dividend yield at 3.51%, compared with 2.57% for VEA.

What is the main difference between DLS and VEA?

DLS is categorized as Foreign Small & Mid Cap Equities, while VEA is Foreign Large Cap Equities. DLS tracks WisdomTree International SmallCap Dividend Index, while VEA tracks FTSE Developed All Cap ex US Index. They also come from different issuers: WisdomTree and Vanguard. Their fees differ too: 0.58% for DLS and 0.03% for VEA.

Which has better risk-adjusted returns?

VEA currently has the higher Sharpe Ratio (1.71 vs 1.34), 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.