DOL vs. DWM

Last updated Jun 4, 2026

DOL (WisdomTree International LargeCap Dividend Fund) and DWM (WisdomTree International Equity Fund) are both Foreign Large Cap Equities funds from WisdomTree - DOL tracks the WisdomTree International LargeCap Dividend Index while DWM tracks the WisdomTree International Equity Index. Both are passively managed. Over the past 10 years, DOL returned 9.61%/yr vs 8.50%/yr for DWM. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.48% expense ratio.

Performance

DOL vs. DWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International LargeCap Dividend Fund (DOL) and WisdomTree International Equity Fund (DWM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOL achieves a 14.27% return, which is significantly higher than DWM's 7.43% return. Over the past 10 years, DOL has outperformed DWM with an annualized return of 9.61%, while DWM has yielded a comparatively lower 8.50% annualized return.

DOL

• 1D: -0.42%
• 1M: 5.12%
• YTD: 14.27%
• 6M: 18.14%
• 1Y: 29.70%
• 3Y*: 20.90%
• 5Y*: 12.14%
• 10Y*: 9.61%

DWM

• 1D: -0.76%
• 1M: 2.23%
• YTD: 7.43%
• 6M: 10.04%
• 1Y: 20.93%
• 3Y*: 17.97%
• 5Y*: 9.61%
• 10Y*: 8.50%

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

DOL vs. DWM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DOL WisdomTree International LargeCap Dividend Fund	14.27%	37.35%	4.08%	16.77%	-6.72%	11.54%	-3.22%	19.47%	-12.93%	22.25%
DWM WisdomTree International Equity Fund	7.43%	34.83%	4.15%	16.63%	-9.04%	10.76%	-2.33%	18.98%	-13.53%	24.08%

Correlation

The correlation between DOL and DWM is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 19, 2006	0.96

The correlation between DOL and DWM has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

DOL vs. DWM - Sectors Allocation Comparison

Sectors	DOL	DWM
Financial Services	24.3%	20.7%
Industrials	15.9%	21.1%
Technology	14.1%	8.2%
Healthcare	8.3%	8.6%
Consumer Cyclical	7.6%	10.4%
Consumer Defensive	7.6%	7.5%
Utilities	6.0%	5.5%
Communication Services	5.4%	5.5%
Basic Materials	5.1%	5.3%
Energy	4.7%	4.0%
Real Estate	1.2%	3.2%

Return for Risk

DOL vs. DWM — Risk / Return Rank

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

DOL

DOL Risk / Return Rank: 57
DOL Sharpe Ratio Rank: 58
DOL Sortino Ratio Rank: 57
DOL Omega Ratio Rank: 59
DOL Calmar Ratio Rank: 53
DOL Martin Ratio Rank: 57

DWM

DWM Risk / Return Rank: 42
DWM Sharpe Ratio Rank: 41
DWM Sortino Ratio Rank: 42
DWM Omega Ratio Rank: 42
DWM Calmar Ratio Rank: 39
DWM Martin Ratio Rank: 43

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.

DOL vs. DWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International LargeCap Dividend Fund (DOL) and WisdomTree International Equity Fund (DWM). 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.

	DOL	DWM	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.48	+0.51
Sortino ratio: Return per unit of downside risk	2.74	2.16	+0.58
Omega ratio: Gain probability vs. loss probability	1.36	1.27	+0.09
Calmar ratio: Return relative to maximum drawdown	2.63	1.92	+0.71
Martin ratio: Return relative to average drawdown	9.90	7.08	+2.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOL vs. DWM - Sharpe Ratio Comparison

The current DOL Sharpe Ratio is 1.99, which is higher than the DWM Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of DOL and DWM, 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

	DOL	DWM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	1.48	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.63	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.51	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.27	+0.01

Drawdowns

DOL vs. DWM - Drawdown Comparison

The maximum DOL drawdown since its inception was -60.79%, roughly equal to the maximum DWM drawdown of -62.10%. Use the drawdown chart below to compare losses from any high point for DOL and DWM.

Drawdown Indicators

	DOL	DWM	Difference
Max Drawdown Largest peak-to-trough decline	-60.79%	-62.10%	+1.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-10.93%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-12.44%	-12.69%	+0.25%
Max Drawdown (5Y) Largest decline over 5 years	-24.57%	-25.64%	+1.07%
Max Drawdown (10Y) Largest decline over 10 years	-35.99%	-37.82%	+1.83%
Current Drawdown Current decline from peak	-0.42%	-2.78%	+2.36%
Average Drawdown Average peak-to-trough decline	-13.63%	-13.50%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.96%	+0.05%

Volatility

DOL vs. DWM - Volatility Comparison

WisdomTree International LargeCap Dividend Fund (DOL) has a higher volatility of 5.28% compared to WisdomTree International Equity Fund (DWM) at 4.43%. This indicates that DOL's price experiences larger fluctuations and is considered to be riskier than DWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOL	DWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.28%	4.43%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	12.75%	11.82%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	15.00%	14.19%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.38%	15.28%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.70%	16.59%	+0.11%

DOL vs. DWM - Expense Ratio Comparison

Both DOL and DWM have an expense ratio of 0.48%.

Dividends

DOL vs. DWM - Dividend Comparison

DOL's dividend yield for the trailing twelve months is around 2.45%, less than DWM's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DOL WisdomTree International LargeCap Dividend Fund	2.45%	2.83%	3.78%	4.02%	4.47%	3.58%	2.82%	3.50%	4.03%	3.17%	3.58%	3.66%
DWM WisdomTree International Equity Fund	2.76%	3.06%	3.86%	4.15%	4.36%	3.64%	2.74%	3.46%	3.86%	2.99%	3.43%	3.55%

Frequently Asked Questions

Can I hold both DOL and DWM in my portfolio?

With a correlation of 0.96, DOL and DWM 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, DOL or DWM?

DOL has higher volatility (5.28%) compared to DWM (4.43%). In terms of maximum drawdown, DOL dropped -60.79% vs DWM's -62.10%.

Which ETF is better, DOL or DWM?

On 10-year performance, DOL leads with 9.61% vs 8.50% for DWM. Both ETFs have the same 0.48% expense ratio. On volatility, DWM has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DOL or DWM?

Over the 10-year period, DOL has performed better with a 9.61% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DOL or DWM?

DOL and DWM have the same expense ratio: 0.48% per year.

Which ETF pays a higher dividend yield, DOL or DWM?

DWM has the higher dividend yield at 2.76%, compared with 2.45% for DOL.

What is the main difference between DOL and DWM?

DOL tracks WisdomTree International LargeCap Dividend Index, while DWM tracks WisdomTree International Equity Index.

Which has better risk-adjusted returns?

DOL currently has the higher Sharpe Ratio (1.99 vs 1.48), 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.