MGV vs. DLN

Last updated Jun 25, 2026

MGV (Vanguard Mega Cap Value ETF) and DLN (WisdomTree U.S. LargeCap Dividend Fund) are both Large Cap Value Equities funds - MGV tracks the CRSP US Mega Cap Value Index while DLN tracks the WisdomTree U.S. LargeCap Dividend Index. Both are passively managed. Over the past 10 years, MGV returned 13.33%/yr vs 12.83%/yr for DLN. With a 0.96 correlation, they move nearly in lockstep. MGV charges 0.05%/yr vs 0.28%/yr for DLN.

Performance

MGV vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap Value ETF (MGV) 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, MGV achieves a 15.82% return, which is significantly higher than DLN's 9.74% return. Both investments have delivered pretty close results over the past 10 years, with MGV having a 13.33% annualized return and DLN not far behind at 12.83%.

MGV

• 1D: -0.06%
• 1M: 3.59%
• YTD: 15.82%
• 6M: 14.74%
• 1Y: 27.31%
• 3Y*: 19.50%
• 5Y*: 12.83%
• 10Y*: 13.33%

DLN

• 1D: -0.19%
• 1M: -0.14%
• YTD: 9.74%
• 6M: 8.74%
• 1Y: 20.43%
• 3Y*: 18.05%
• 5Y*: 12.34%
• 10Y*: 12.83%

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

MGV vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGV Vanguard Mega Cap Value ETF	15.82%	15.45%	16.94%	9.16%	-1.22%	25.93%	2.50%	25.54%	-4.13%	16.85%
DLN WisdomTree U.S. LargeCap Dividend Fund	9.74%	15.53%	19.66%	9.95%	-3.78%	25.60%	4.59%	28.91%	-5.82%	18.22%

Correlation

The correlation between MGV and DLN is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.96

The correlation between MGV and DLN has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

MGV vs. DLN - Sectors Allocation Comparison

Sectors	MGV	DLN
Financial Services	22.8%	17.4%
Technology	18.5%	22.8%
Healthcare	16.0%	12.6%
Industrials	13.2%	7.8%
Consumer Defensive	11.0%	8.9%
Energy	6.0%	7.9%
Consumer Cyclical	3.4%	4.9%
Communication Services	3.2%	7.5%
Basic Materials	2.3%	1.0%
Utilities	2.3%	5.5%
Real Estate	1.2%	3.9%

Return for Risk

MGV vs. DLN — Risk / Return Rank

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

MGV

MGV Risk / Return Rank: 88
MGV Sharpe Ratio Rank: 90
MGV Sortino Ratio Rank: 91
MGV Omega Ratio Rank: 88
MGV Calmar Ratio Rank: 85
MGV Martin Ratio Rank: 86

DLN

DLN Risk / Return Rank: 79
DLN Sharpe Ratio Rank: 80
DLN Sortino Ratio Rank: 82
DLN Omega Ratio Rank: 78
DLN Calmar Ratio Rank: 74
DLN Martin Ratio Rank: 80

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.

MGV vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Value ETF (MGV) 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.

	MGV	DLN	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.28	+0.43
Sortino ratio: Return per unit of downside risk	3.85	3.26	+0.60
Omega ratio: Gain probability vs. loss probability	1.49	1.41	+0.08
Calmar ratio: Return relative to maximum drawdown	4.28	3.37	+0.91
Martin ratio: Return relative to average drawdown	16.22	14.09	+2.13

MGV vs. DLN - Sharpe Ratio Comparison

The current MGV Sharpe Ratio is 2.71, which is comparable to the DLN Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of MGV 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

MGV vs. DLN - Drawdown Comparison

The maximum MGV drawdown since its inception was -56.07%, roughly equal to the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for MGV and DLN.

Drawdown Indicators

	MGV	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-56.07%	-57.84%	+1.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-6.10%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-13.71%	+0.53%
Max Drawdown (5Y) Largest decline over 5 years	-16.54%	-16.26%	-0.28%
Max Drawdown (10Y) Largest decline over 10 years	-35.41%	-35.82%	+0.41%
Current Drawdown Current decline from peak	-0.88%	-1.31%	+0.43%
Average Drawdown Average peak-to-trough decline	-7.77%	-7.50%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.45%	+0.24%

Volatility

MGV vs. DLN - Volatility Comparison

Vanguard Mega Cap Value ETF (MGV) has a higher volatility of 3.45% compared to WisdomTree U.S. LargeCap Dividend Fund (DLN) at 2.70%. This indicates that MGV'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

	MGV	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	2.70%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	6.99%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.16%	9.01%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.57%	13.26%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.32%	16.14%	+0.18%

MGV vs. DLN - Expense Ratio Comparison

MGV has a 0.05% expense ratio, which is lower than DLN's 0.28% expense ratio.

Dividends

MGV vs. DLN - Dividend Comparison

MGV's dividend yield for the trailing twelve months is around 1.84%, more than DLN's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLN WisdomTree U.S. LargeCap Dividend Fund	1.80%	1.90%	2.00%	2.43%	2.53%	2.01%	2.66%	2.51%	2.90%	2.33%	2.64%	2.80%
MGV Vanguard Mega Cap Value ETF	1.84%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%

Frequently Asked Questions

Can I hold both MGV and DLN in my portfolio?

With a correlation of 0.92, MGV and DLN 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, MGV or DLN?

MGV has higher volatility (3.45%) compared to DLN (2.70%). In terms of maximum drawdown, MGV dropped -56.07% vs DLN's -57.84%.

Which ETF is better, MGV or DLN?

On 10-year performance, MGV leads with 13.33% vs 12.83% for DLN. On fees, MGV is cheaper at 0.05% per year. On volatility, DLN has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGV or DLN?

Over the 10-year period, MGV has performed better with a 13.33% return vs 12.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGV or DLN?

MGV is cheaper with a 0.05% expense ratio, compared with 0.28% for DLN.

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

MGV has the higher dividend yield at 1.84%, compared with 1.80% for DLN.

What is the main difference between MGV and DLN?

MGV tracks CRSP US Mega Cap Value Index, while DLN tracks WisdomTree U.S. LargeCap Dividend Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.05% for MGV and 0.28% for DLN.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (2.71 vs 2.28), 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.