QWLD vs. DLN

Last updated Jun 5, 2026

QWLD (SPDR MSCI World StrategicFactors ETF) and DLN (WisdomTree US LargeCap Dividend ETF) are both Large Cap Growth Equities funds - QWLD tracks the MSCI World Factor Mix A-Series (USD) while DLN tracks the WisdomTree LargeCap Dividend Index. Both are passively managed. Over the past 10 years, QWLD returned 11.67%/yr vs 12.72%/yr for DLN. A 0.73 correlation means they provide meaningful diversification when combined. QWLD charges 0.30%/yr vs 0.28%/yr for DLN.

Performance

QWLD vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI World StrategicFactors ETF (QWLD) and WisdomTree US LargeCap Dividend ETF (DLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QWLD achieves a 7.11% return, which is significantly lower than DLN's 10.76% return. Over the past 10 years, QWLD has underperformed DLN with an annualized return of 11.67%, while DLN has yielded a comparatively higher 12.72% annualized return.

QWLD

• 1D: 0.53%
• 1M: 2.38%
• YTD: 7.11%
• 6M: 7.83%
• 1Y: 17.61%
• 3Y*: 16.69%
• 5Y*: 10.08%
• 10Y*: 11.67%

DLN

• 1D: 0.76%
• 1M: 3.16%
• YTD: 10.76%
• 6M: 10.83%
• 1Y: 23.83%
• 3Y*: 18.78%
• 5Y*: 12.39%
• 10Y*: 12.72%

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

QWLD vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QWLD SPDR MSCI World StrategicFactors ETF	7.11%	17.93%	14.44%	19.59%	-13.30%	21.57%	10.24%	27.59%	-7.02%	22.44%
DLN WisdomTree US LargeCap Dividend ETF	10.76%	15.53%	19.66%	9.95%	-3.78%	25.60%	4.59%	28.91%	-5.82%	18.22%

Correlation

The correlation between QWLD and DLN is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.73

The correlation between QWLD and DLN shifts across timeframes, from 0.73 (all time) to 0.90 (5 years), reflecting how their relationship changes across market environments.

QWLD vs. DLN - Sectors Allocation Comparison

Sectors	QWLD	DLN
Technology	22.3%	20.1%
Financial Services	13.8%	18.0%
Healthcare	12.6%	12.6%
Communication Services	9.6%	7.8%
Industrials	8.6%	7.9%
Consumer Defensive	7.6%	9.3%
Consumer Cyclical	5.0%	5.0%
Energy	4.5%	8.5%
Utilities	3.7%	5.9%
Basic Materials	2.9%	1.0%
Real Estate	0.8%	4.0%

Return for Risk

QWLD vs. DLN — Risk / Return Rank

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

QWLD

QWLD Risk / Return Rank: 53
QWLD Sharpe Ratio Rank: 54
QWLD Sortino Ratio Rank: 56
QWLD Omega Ratio Rank: 52
QWLD Calmar Ratio Rank: 48
QWLD Martin Ratio Rank: 58

DLN

DLN Risk / Return Rank: 83
DLN Sharpe Ratio Rank: 83
DLN Sortino Ratio Rank: 86
DLN Omega Ratio Rank: 82
DLN Calmar Ratio Rank: 78
DLN Martin Ratio Rank: 83

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.

QWLD vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World StrategicFactors ETF (QWLD) and WisdomTree US LargeCap Dividend ETF (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.

	QWLD	DLN	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.70	-0.87
Sortino ratio: Return per unit of downside risk	2.62	3.86	-1.24
Omega ratio: Gain probability vs. loss probability	1.32	1.49	-0.17
Calmar ratio: Return relative to maximum drawdown	2.31	3.93	-1.62
Martin ratio: Return relative to average drawdown	9.99	16.60	-6.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QWLD vs. DLN - Sharpe Ratio Comparison

The current QWLD Sharpe Ratio is 1.82, which is lower than the DLN Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of QWLD 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.

Sharpe Ratios by Period

	QWLD	DLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	2.70	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.94	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.79	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.53	+0.16

Drawdowns

QWLD vs. DLN - Drawdown Comparison

The maximum QWLD drawdown since its inception was -31.89%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for QWLD and DLN.

Drawdown Indicators

	QWLD	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-31.89%	-57.84%	+25.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-6.10%	-1.56%
Max Drawdown (3Y) Largest decline over 3 years	-12.40%	-13.71%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	-22.84%	-16.26%	-6.58%
Max Drawdown (10Y) Largest decline over 10 years	-31.89%	-35.82%	+3.93%
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-3.70%	-7.52%	+3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	1.44%	+0.33%

Volatility

QWLD vs. DLN - Volatility Comparison

SPDR MSCI World StrategicFactors ETF (QWLD) and WisdomTree US LargeCap Dividend ETF (DLN) have volatilities of 2.23% and 2.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QWLD	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	2.22%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	7.52%	6.80%	+0.72%
Volatility (1Y) Calculated over the trailing 1-year period	9.69%	8.89%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.52%	13.27%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	16.15%	-0.97%

QWLD vs. DLN - Expense Ratio Comparison

QWLD has a 0.30% expense ratio, which is higher than DLN's 0.28% expense ratio.

Dividends

QWLD vs. DLN - Dividend Comparison

QWLD's dividend yield for the trailing twelve months is around 1.83%, more than DLN's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLN WisdomTree US LargeCap Dividend ETF	1.78%	1.90%	2.00%	2.43%	2.53%	2.01%	2.66%	2.51%	2.90%	2.33%	2.64%	2.80%
QWLD SPDR MSCI World StrategicFactors ETF	1.83%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%

Frequently Asked Questions

Can I hold both QWLD and DLN in my portfolio?

QWLD and DLN have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QWLD or DLN?

QWLD has higher volatility (2.23%) compared to DLN (2.22%). In terms of maximum drawdown, QWLD dropped -31.89% vs DLN's -57.84%.

Which ETF is better, QWLD or DLN?

On 10-year performance, DLN leads with 12.72% vs 11.67% for QWLD. On fees, DLN is cheaper at 0.28% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QWLD or DLN?

Over the 10-year period, DLN has performed better with a 12.72% return vs 11.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QWLD or DLN?

DLN is cheaper with a 0.28% expense ratio, compared with 0.30% for QWLD.

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

QWLD has the higher dividend yield at 1.83%, compared with 1.78% for DLN.

What is the main difference between QWLD and DLN?

QWLD tracks MSCI World Factor Mix A-Series (USD), while DLN tracks WisdomTree LargeCap Dividend Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.30% for QWLD and 0.28% for DLN.

Which has better risk-adjusted returns?

DLN currently has the higher Sharpe Ratio (2.70 vs 1.82), 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.