DNL vs. IMTM

Last updated Jun 9, 2026

DNL (WisdomTree Global ex-U.S. Quality Dividend Growth Fund) and IMTM (iShares MSCI Intl Momentum Factor ETF) are both exchange-traded funds - DNL is a Foreign Large Cap Equities fund tracking the WisdomTree Global ex-U.S. Quality Dividend Growth Index, while IMTM is a Momentum fund tracking the MSCI World ex USA Momentum. Both are passively managed. Over the past 10 years, DNL returned 9.11%/yr vs 9.71%/yr for IMTM. Their correlation of 0.80 suggests significant overlap in exposure. DNL charges 0.58%/yr vs 0.30%/yr for IMTM.

Performance

DNL vs. IMTM - 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 Intl Momentum Factor ETF (IMTM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DNL achieves a 8.34% return, which is significantly lower than IMTM's 8.92% return. Over the past 10 years, DNL has underperformed IMTM with an annualized return of 9.11%, while IMTM has yielded a comparatively higher 9.71% annualized return.

DNL

• 1D: 1.22%
• 1M: -1.29%
• YTD: 8.34%
• 6M: 9.46%
• 1Y: 15.54%
• 3Y*: 10.20%
• 5Y*: 3.67%
• 10Y*: 9.11%

IMTM

• 1D: 1.06%
• 1M: -1.02%
• YTD: 8.92%
• 6M: 11.17%
• 1Y: 20.71%
• 3Y*: 20.62%
• 5Y*: 8.73%
• 10Y*: 9.71%

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

DNL vs. IMTM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DNL WisdomTree Global ex-U.S. Quality Dividend Growth Fund	8.34%	17.03%	-0.61%	17.00%	-22.38%	16.14%	18.22%	36.23%	-14.76%	31.11%
IMTM iShares MSCI Intl Momentum Factor ETF	8.92%	34.50%	12.17%	13.89%	-16.81%	3.50%	22.17%	24.52%	-14.31%	25.46%

Correlation

The correlation between DNL and IMTM is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 27, 2015	0.80

The correlation between DNL and IMTM has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

DNL vs. IMTM - Sectors Allocation Comparison

Sectors	DNL	IMTM
Technology	33.0%	11.4%
Consumer Cyclical	18.5%	1.8%
Industrials	16.3%	17.5%
Healthcare	10.6%	9.0%
Energy	6.5%	9.4%
Communication Services	6.2%	1.9%
Financial Services	4.0%	29.6%
Basic Materials	3.2%	9.3%
Consumer Defensive	1.2%	2.4%
Utilities	0.5%	6.4%
Real Estate	-	1.2%

Return for Risk

DNL vs. IMTM — Risk / Return Rank

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

DNL

DNL Risk / Return Rank: 28
DNL Sharpe Ratio Rank: 26
DNL Sortino Ratio Rank: 26
DNL Omega Ratio Rank: 26
DNL Calmar Ratio Rank: 28
DNL Martin Ratio Rank: 33

IMTM

IMTM Risk / Return Rank: 38
IMTM Sharpe Ratio Rank: 37
IMTM Sortino Ratio Rank: 36
IMTM Omega Ratio Rank: 37
IMTM Calmar Ratio Rank: 36
IMTM Martin Ratio Rank: 44

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. IMTM - 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 Intl Momentum Factor ETF (IMTM). 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.

	DNL	IMTM	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.19	-0.34
Sortino ratio: Return per unit of downside risk	1.29	1.75	-0.46
Omega ratio: Gain probability vs. loss probability	1.16	1.22	-0.06
Calmar ratio: Return relative to maximum drawdown	1.26	1.62	-0.36
Martin ratio: Return relative to average drawdown	4.48	6.45	-1.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DNL vs. IMTM - Sharpe Ratio Comparison

The current DNL Sharpe Ratio is 0.85, which is comparable to the IMTM Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of DNL and IMTM, 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

	DNL	IMTM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.19	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.50	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.55	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.49	-0.23

Drawdowns

DNL vs. IMTM - Drawdown Comparison

The maximum DNL drawdown since its inception was -44.53%, which is greater than IMTM's maximum drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for DNL and IMTM.

Drawdown Indicators

	DNL	IMTM	Difference
Max Drawdown Largest peak-to-trough decline	-44.53%	-32.66%	-11.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-12.85%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-20.15%	-12.85%	-7.30%
Max Drawdown (5Y) Largest decline over 5 years	-34.85%	-32.66%	-2.19%
Max Drawdown (10Y) Largest decline over 10 years	-34.85%	-32.66%	-2.19%
Current Drawdown Current decline from peak	-2.86%	-2.56%	-0.30%
Average Drawdown Average peak-to-trough decline	-10.16%	-7.44%	-2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	3.22%	+0.26%

Volatility

DNL vs. IMTM - Volatility Comparison

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL) has a higher volatility of 6.56% compared to iShares MSCI Intl Momentum Factor ETF (IMTM) at 5.93%. This indicates that DNL's price experiences larger fluctuations and is considered to be riskier than IMTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DNL	IMTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	5.93%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	15.60%	15.47%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	18.42%	17.48%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	17.71%	+0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	17.63%	+1.07%

DNL vs. IMTM - Expense Ratio Comparison

DNL has a 0.58% expense ratio, which is higher than IMTM's 0.30% expense ratio.

Dividends

DNL vs. IMTM - Dividend Comparison

DNL's dividend yield for the trailing twelve months is around 1.69%, less than IMTM's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DNL WisdomTree Global ex-U.S. Quality Dividend Growth Fund	1.69%	2.06%	2.30%	1.81%	4.82%	1.38%	1.76%	1.93%	2.55%	1.86%	2.51%	1.98%
IMTM iShares MSCI Intl Momentum Factor ETF	4.32%	4.70%	2.93%	2.29%	2.68%	2.51%	0.97%	2.13%	2.36%	1.92%	2.75%	1.56%

Frequently Asked Questions

Can I hold both DNL and IMTM in my portfolio?

DNL and IMTM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DNL or IMTM?

DNL has higher volatility (6.56%) compared to IMTM (5.93%). In terms of maximum drawdown, DNL dropped -44.53% vs IMTM's -32.66%.

Which ETF is better, DNL or IMTM?

On 10-year performance, IMTM leads with 9.71% vs 9.11% for DNL. On fees, IMTM is cheaper at 0.30% per year. On volatility, IMTM has been the lower-risk option at 5.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DNL or IMTM?

Over the 10-year period, IMTM has performed better with a 9.71% return vs 9.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DNL or IMTM?

IMTM is cheaper with a 0.30% expense ratio, compared with 0.58% for DNL.

Which ETF pays a higher dividend yield, DNL or IMTM?

IMTM has the higher dividend yield at 4.32%, compared with 1.69% for DNL.

What is the main difference between DNL and IMTM?

DNL is categorized as Foreign Large Cap Equities, while IMTM is Momentum. DNL tracks WisdomTree Global ex-U.S. Quality Dividend Growth Index, while IMTM tracks MSCI World ex USA Momentum. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for DNL and 0.30% for IMTM.

Which has better risk-adjusted returns?

IMTM currently has the higher Sharpe Ratio (1.19 vs 0.85), 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.