DVAL vs. DLN

Last updated Jun 24, 2026

DVAL (BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF) and DLN (WisdomTree U.S. LargeCap Dividend Fund) are both Large Cap Value Equities funds. DVAL is actively managed, while DLN is passively managed. Over the past 3 years, DVAL returned 13.18%/yr vs 18.12%/yr for DLN. Their correlation of 0.88 suggests significant overlap in exposure. DVAL charges 0.49%/yr vs 0.28%/yr for DLN.

Performance

DVAL vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) and WisdomTree U.S. LargeCap Dividend Fund (DLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVAL achieves a 8.47% return, which is significantly lower than DLN's 9.95% return.

DVAL

• 1D: 0.14%
• 1M: 1.85%
• YTD: 8.47%
• 6M: 7.88%
• 1Y: 14.39%
• 3Y*: 13.18%
• 5Y*: —
• 10Y*: —

DLN

• 1D: -0.13%
• 1M: 0.05%
• YTD: 9.95%
• 6M: 9.49%
• 1Y: 21.42%
• 3Y*: 18.12%
• 5Y*: 12.49%
• 10Y*: 12.86%

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

DVAL vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DVAL BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF	8.47%	8.74%	12.84%	8.73%	1.56%
DLN WisdomTree U.S. LargeCap Dividend Fund	9.95%	15.53%	19.66%	9.95%	1.44%

Correlation

The correlation between DVAL and DLN is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022	0.88

The correlation between DVAL and DLN has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

DVAL vs. DLN - Sectors Allocation Comparison

Sectors	DVAL	DLN
Financial Services	31.9%	17.4%
Industrials	14.8%	7.8%
Technology	11.8%	22.8%
Consumer Cyclical	10.2%	4.9%
Communication Services	10.0%	7.5%
Healthcare	7.9%	12.6%
Consumer Defensive	6.6%	8.9%
Energy	5.6%	7.9%
Utilities	1.1%	5.5%
Basic Materials	0.1%	1.0%
Real Estate	-	3.9%

Return for Risk

DVAL vs. DLN — Risk / Return Rank

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

DVAL

DVAL Risk / Return Rank: 44
DVAL Sharpe Ratio Rank: 41
DVAL Sortino Ratio Rank: 43
DVAL Omega Ratio Rank: 38
DVAL Calmar Ratio Rank: 51
DVAL Martin Ratio Rank: 48

DLN

DLN Risk / Return Rank: 78
DLN Sharpe Ratio Rank: 79
DLN Sortino Ratio Rank: 81
DLN Omega Ratio Rank: 77
DLN Calmar Ratio Rank: 73
DLN Martin Ratio Rank: 79

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.

DVAL vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) and WisdomTree U.S. LargeCap Dividend Fund (DLN). 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.

	DVAL	DLN	Difference
Sharpe ratio: Return per unit of total volatility	1.35	2.39	-1.04
Sortino ratio: Return per unit of downside risk	2.01	3.40	-1.39
Omega ratio: Gain probability vs. loss probability	1.23	1.43	-0.20
Calmar ratio: Return relative to maximum drawdown	2.33	3.53	-1.20
Martin ratio: Return relative to average drawdown	7.47	14.80	-7.33

DVAL vs. DLN - Sharpe Ratio Comparison

The current DVAL Sharpe Ratio is 1.35, which is lower than the DLN Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of DVAL and DLN, 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

DVAL vs. DLN - Drawdown Comparison

The maximum DVAL drawdown since its inception was -18.11%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for DVAL and DLN.

Drawdown Indicators

	DVAL	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-18.11%	-57.84%	+39.73%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-6.10%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	-13.71%	-4.40%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.82%	—
Current Drawdown Current decline from peak	-0.82%	-1.12%	+0.30%
Average Drawdown Average peak-to-trough decline	-3.60%	-7.50%	+3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.45%	+0.48%

Volatility

DVAL vs. DLN - Volatility Comparison

BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) has a higher volatility of 3.29% compared to WisdomTree U.S. LargeCap Dividend Fund (DLN) at 2.78%. This indicates that DVAL's price experiences larger fluctuations and is considered to be riskier than DLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVAL	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	2.78%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	7.94%	7.00%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	9.03%	+1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	13.27%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	16.14%	-1.92%

DVAL vs. DLN - Expense Ratio Comparison

DVAL has a 0.49% expense ratio, which is higher than DLN's 0.28% expense ratio.

Dividends

DVAL vs. DLN - Dividend Comparison

DVAL's dividend yield for the trailing twelve months is around 1.84%, more than DLN's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLN WisdomTree U.S. LargeCap Dividend Fund	1.79%	1.90%	2.00%	2.43%	2.53%	2.01%	2.66%	2.51%	2.90%	2.33%	2.64%	2.80%
DVAL BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF	1.84%	2.00%	2.82%	1.16%	13.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVAL and DLN in my portfolio?

DVAL and DLN have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVAL or DLN?

DVAL has higher volatility (3.29%) compared to DLN (2.78%). In terms of maximum drawdown, DVAL dropped -18.11% vs DLN's -57.84%.

Which ETF is better, DVAL or DLN?

On 3-year performance, DLN leads with 18.12% vs 13.18% for DVAL. On fees, DLN is cheaper at 0.28% per year. On volatility, DLN has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVAL or DLN?

Over the 3-year period, DLN has performed better with a 18.12% return vs 13.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVAL or DLN?

DLN is cheaper with a 0.28% expense ratio, compared with 0.49% for DVAL.

Which ETF pays a higher dividend yield, DVAL or DLN?

DVAL has the higher dividend yield at 1.84%, compared with 1.79% for DLN.

What is the main difference between DVAL and DLN?

They also come from different issuers: BrandywineGLOBAL and WisdomTree. Their fees differ too: 0.49% for DVAL and 0.28% for DLN.

Which has better risk-adjusted returns?

DLN currently has the higher Sharpe Ratio (2.39 vs 1.35), 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.