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DNL vs. EFG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DNL vs. EFG

Last updated Jul 22, 2026
Documentation

DNL (WisdomTree Global ex-U.S. Quality Dividend Growth Fund) and EFG (iShares MSCI EAFE Growth ETF) are both Foreign Large Cap Equities funds - DNL tracks the WisdomTree Global ex-U.S. Quality Dividend Growth Index while EFG tracks the MSCI EAFE Growth Index. Both are passively managed. Over the past 10 years, DNL returned 8.88%/yr vs 7.88%/yr for EFG. Their correlation of 0.86 suggests significant overlap in exposure. DNL charges 0.58%/yr vs 0.34%/yr for EFG.

Performance

DNL vs. EFG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL) and iShares MSCI EAFE Growth ETF (EFG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DNL achieves a 10.79% return, which is significantly higher than EFG's 7.07% return. Over the past 10 years, DNL has outperformed EFG with an annualized return of 8.88%, while EFG has yielded a comparatively lower 7.88% annualized return.

DNL

1D
1.75%
1M
-2.01%
6M
7.67%
YTD
10.79%
1Y
15.01%
3Y*
9.88%
5Y*
4.14%
10Y*
8.88%
ALL TIME*
5.47%

EFG

1D
1.73%
1M
-3.27%
6M
4.12%
YTD
7.07%
1Y
12.34%
3Y*
10.06%
5Y*
4.05%
10Y*
7.88%
ALL TIME*
6.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DNL vs. EFG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DNL
WisdomTree Global ex-U.S. Quality Dividend Growth Fund		10.79%17.03%-0.61%17.00%-22.38%16.14%18.22%36.23%-14.76%31.11%
EFG
iShares MSCI EAFE Growth ETF		7.07%20.70%1.53%17.55%-23.12%11.01%17.85%27.47%-12.93%28.86%

Correlation

The correlation between DNL and EFG is 0.94, 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

0.94

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

0.94

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

0.93

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

0.93

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

0.86

The correlation between DNL and EFG has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

DNL vs. EFG - Sectors Allocation Comparison

Sectors
DNL
EFG

Technology

36.9%
22.2%

Consumer Cyclical

18.2%
9.2%

Industrials

15.6%
27.6%

Healthcare

10.0%
13.2%

Communication Services

6.0%
4.8%

Energy

5.1%
0.5%

Financial Services

3.9%
11.0%

Basic Materials

2.8%
5.6%

Consumer Defensive

1.1%
3.8%

Utilities

0.5%
1.4%

Real Estate

0.0%
0.7%

Technology

DNL
36.9%
EFG
22.2%

Consumer Cyclical

DNL
18.2%
EFG
9.2%

Industrials

DNL
15.6%
EFG
27.6%

Healthcare

DNL
10.0%
EFG
13.2%

Communication Services

DNL
6.0%
EFG
4.8%

Energy

DNL
5.1%
EFG
0.5%

Financial Services

DNL
3.9%
EFG
11.0%

Basic Materials

DNL
2.8%
EFG
5.6%

Consumer Defensive

DNL
1.1%
EFG
3.8%

Utilities

DNL
0.5%
EFG
1.4%

Real Estate

DNL
0.0%
EFG
0.7%

Compare stocks, funds, or ETFs

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

WisdomTree Global ex-U.S. Quality Dividend Growth Fund

iShares MSCI EAFE Growth ETF

Often compared with DNL:
DNL vs. IQDGDNL vs. JIGDNL vs. SUSADNL vs. DGRWDNL vs. VIGIDNL vs. FNDEDNL vs. SCHD
Often compared with EFG:
EFG vs. EFAEFG vs. SPYEFG vs. VIGIEFG vs. IDMOEFG vs. JIGEFG vs. IXUSEFG vs. VUG

Return for Risk

DNL vs. EFG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DNL
DNL Risk / Return Rank: 3131
Overall Rank
DNL Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
DNL Sortino Ratio Rank: 2929
Sortino Ratio Rank
DNL Omega Ratio Rank: 2929
Omega Ratio Rank
DNL Calmar Ratio Rank: 3232
Calmar Ratio Rank
DNL Martin Ratio Rank: 3838
Martin Ratio Rank
EFG
EFG Risk / Return Rank: 2727
Overall Rank
EFG Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
EFG Sortino Ratio Rank: 2525
Sortino Ratio Rank
EFG Omega Ratio Rank: 2424
Omega Ratio Rank
EFG Calmar Ratio Rank: 2727
Calmar Ratio Rank
EFG Martin Ratio Rank: 3333
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.

DNL vs. EFG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL) and iShares MSCI EAFE Growth ETF (EFG). 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.

DNLEFGDifference
Sharpe ratioReturn per unit of total volatility
0.79
0.67

+0.13

Sortino ratioReturn per unit of downside risk
1.23
1.06

+0.17

Omega ratioGain probability vs. loss probability

1.15

1.13

+0.02

Calmar ratioReturn relative to maximum drawdown

1.21

0.97

+0.24

Martin ratioReturn relative to average drawdown

4.27

3.49

+0.78

DNL vs. EFG - Sharpe Ratio Comparison

The current DNL Sharpe Ratio is 0.79, which is comparable to the EFG Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of DNL and EFG, 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

DNL vs. EFG - Drawdown Comparison

The maximum DNL drawdown since its inception was -44.53%, smaller than the maximum EFG drawdown of -58.40%. Use the drawdown chart below to compare losses from any high point for DNL and EFG.

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Drawdown Indicators

DNLEFGDifference

Max Drawdown

Largest peak-to-trough decline

-44.53%

-58.40%

+13.87%

Max Drawdown (1Y)

Largest decline over 1 year

-12.42%

-12.78%

+0.36%

Max Drawdown (3Y)

Largest decline over 3 years

-20.15%

-16.87%

-3.28%

Max Drawdown (5Y)

Largest decline over 5 years

-34.85%

-35.78%

+0.93%

Max Drawdown (10Y)

Largest decline over 10 years

-34.85%

-35.78%

+0.93%

Current Drawdown

Current decline from peak

-2.16%

-3.51%

+1.35%

Average Drawdown

Average peak-to-trough decline

-10.11%

-12.09%

+1.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.52%

3.55%

-0.03%

Volatility

DNL vs. EFG - Volatility Comparison

The current volatility for WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL) is 5.31%, while iShares MSCI EAFE Growth ETF (EFG) has a volatility of 5.81%. This indicates that DNL experiences smaller price fluctuations and is considered to be less risky than EFG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DNLEFGDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.31%

5.81%

-0.50%

Volatility (6M)

Calculated over the trailing 6-month period

16.34%

16.15%

+0.19%

Volatility (1Y)

Calculated over the trailing 1-year period

19.03%

18.56%

+0.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.47%

18.40%

+0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.59%

17.60%

+0.99%

DNL vs. EFG - Expense Ratio Comparison

DNL has a 0.58% expense ratio, which is higher than EFG's 0.34% expense ratio.

Dividends

DNL vs. EFG - Dividend Comparison

DNL's dividend yield for the trailing twelve months is around 1.31%, less than EFG's 2.30% yield.

PositionTTM20252024202320222021202020192018201720162015
DNL
WisdomTree Global ex-U.S. Quality Dividend Growth Fund		1.31%2.06%2.30%1.81%4.82%1.38%1.76%1.93%2.55%1.86%2.51%1.98%
EFG
iShares MSCI EAFE Growth ETF		2.30%2.53%1.64%1.63%1.27%1.54%0.85%1.69%1.98%1.56%2.20%1.75%

Frequently Asked Questions

With a correlation of 0.94, DNL and EFG 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.

EFG has higher volatility (5.81%) compared to DNL (5.31%). In terms of maximum drawdown, DNL dropped -44.53% vs EFG's -58.40%.

On 10-year performance, DNL leads with 8.88% vs 7.88% for EFG. On fees, EFG is cheaper at 0.34% per year. On volatility, DNL has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DNL has performed better with a 8.88% return vs 7.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EFG is cheaper with a 0.34% expense ratio, compared with 0.58% for DNL.

EFG has the higher dividend yield at 2.30%, compared with 1.31% for DNL.

DNL tracks WisdomTree Global ex-U.S. Quality Dividend Growth Index, while EFG tracks MSCI EAFE Growth Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for DNL and 0.34% for EFG.

DNL currently has the higher Sharpe Ratio (0.79 vs 0.67), 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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