IVSX vs. DLS
IVSX (Applied Finance IVS International SMID ETF) and DLS (WisdomTree International SmallCap Dividend) are both Foreign Small & Mid Cap Equities funds. IVSX is actively managed, while DLS is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. IVSX charges 0.75%/yr vs 0.58%/yr for DLS.
Performance
IVSX vs. DLS - Performance Comparison
Loading charts...
Returns By Period
IVSX
- 1D
- -1.55%
- 1M
- -2.01%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DLS
- 1D
- -1.53%
- 1M
- -2.19%
- YTD
- 5.03%
- 6M
- 5.39%
- 1Y
- 19.99%
- 3Y*
- 17.29%
- 5Y*
- 6.77%
- 10Y*
- 8.17%
IVSX vs. DLS - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IVSX Applied Finance IVS International SMID ETF | -4.13% |
DLS WisdomTree International SmallCap Dividend | -3.46% |
Correlation
The correlation between IVSX and DLS is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 20, 2026 | 0.93 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IVSX vs. DLS — Risk / Return Rank
IVSX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DLS
IVSX vs. DLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS International SMID ETF (IVSX) and WisdomTree International SmallCap Dividend (DLS). 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.
| IVSX | DLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.82 | — |
| Martin ratioReturn relative to average drawdown | — | 6.48 | — |
Loading charts...
Drawdowns
IVSX vs. DLS - Drawdown Comparison
The maximum IVSX drawdown since its inception was -11.96%, smaller than the maximum DLS drawdown of -63.13%. Use the drawdown chart below to compare losses from any high point for IVSX and DLS.
Loading charts...
Drawdown Indicators
| IVSX | DLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.96% | -63.13% | +51.17% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.04% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.22% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.77% | — |
Current DrawdownCurrent decline from peak | -5.22% | -4.66% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -4.73% | -13.62% | +8.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.09% | — |
Volatility
IVSX vs. DLS - Volatility Comparison
Loading charts...
Volatility by Period
| IVSX | DLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.61% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.58% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.05% | 13.85% | +6.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.05% | 15.63% | +4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.05% | 16.45% | +3.60% |
IVSX vs. DLS - Expense Ratio Comparison
IVSX has a 0.75% expense ratio, which is higher than DLS's 0.58% expense ratio.
Dividends
IVSX vs. DLS - Dividend Comparison
IVSX has not paid dividends to shareholders, while DLS's dividend yield for the trailing twelve months is around 3.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLS WisdomTree International SmallCap Dividend | 3.55% | 3.87% | 4.56% | 4.29% | 4.96% | 3.29% | 2.50% | 3.37% | 3.66% | 2.79% | 3.29% | 2.72% |
IVSX Applied Finance IVS International SMID ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, IVSX and DLS 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.
On fees, DLS is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DLS is cheaper with a 0.58% expense ratio, compared with 0.75% for IVSX.
DLS has the higher dividend yield at 3.55%, compared with 0.00% for IVSX.
They also come from different issuers: Applied Finance and WisdomTree. Their fees differ too: 0.75% for IVSX and 0.58% for DLS.
Find the right allocation for IVSX and DLS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer