TVAL vs. DLN

Last updated Jun 24, 2026

TVAL (T. Rowe Price Value ETF) and DLN (WisdomTree U.S. LargeCap Dividend Fund) are both Large Cap Value Equities funds. TVAL is actively managed, while DLN is passively managed. Over the past 3 years, TVAL returned 19.63%/yr vs 18.12%/yr for DLN. Their correlation of 0.94 suggests significant overlap in exposure. TVAL charges 0.33%/yr vs 0.28%/yr for DLN.

Performance

TVAL vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value ETF (TVAL) 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, TVAL achieves a 17.15% return, which is significantly higher than DLN's 9.95% return.

TVAL

• 1D: -1.03%
• 1M: 1.78%
• YTD: 17.15%
• 6M: 16.52%
• 1Y: 29.45%
• 3Y*: 19.63%
• 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)

TVAL vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TVAL T. Rowe Price Value ETF	17.15%	15.59%	14.54%	8.45%
DLN WisdomTree U.S. LargeCap Dividend Fund	9.95%	15.53%	19.66%	7.40%

Correlation

The correlation between TVAL and DLN is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.94

The correlation between TVAL and DLN has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

TVAL vs. DLN - Sectors Allocation Comparison

Sectors	TVAL	DLN
Technology	19.6%	22.8%
Financial Services	18.7%	17.4%
Industrials	11.4%	7.8%
Healthcare	11.2%	12.6%
Communication Services	7.6%	7.5%
Energy	7.6%	7.9%
Consumer Cyclical	6.7%	4.9%
Consumer Defensive	6.2%	8.9%
Utilities	4.7%	5.5%
Basic Materials	3.5%	1.0%
Real Estate	2.9%	3.9%

Return for Risk

TVAL vs. DLN — Risk / Return Rank

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

TVAL

TVAL Risk / Return Rank: 86
TVAL Sharpe Ratio Rank: 88
TVAL Sortino Ratio Rank: 89
TVAL Omega Ratio Rank: 85
TVAL Calmar Ratio Rank: 83
TVAL Martin Ratio Rank: 87

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.

TVAL vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value ETF (TVAL) 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.

	TVAL	DLN	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.39	+0.31
Sortino ratio: Return per unit of downside risk	3.76	3.40	+0.36
Omega ratio: Gain probability vs. loss probability	1.48	1.43	+0.05
Calmar ratio: Return relative to maximum drawdown	4.14	3.53	+0.61
Martin ratio: Return relative to average drawdown	17.29	14.80	+2.49

TVAL vs. DLN - Sharpe Ratio Comparison

The current TVAL Sharpe Ratio is 2.70, which is comparable to the DLN Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of TVAL 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

TVAL vs. DLN - Drawdown Comparison

The maximum TVAL drawdown since its inception was -14.84%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for TVAL and DLN.

Drawdown Indicators

	TVAL	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-14.84%	-57.84%	+43.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-6.10%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-14.84%	-13.71%	-1.13%
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	-1.03%	-1.12%	+0.09%
Average Drawdown Average peak-to-trough decline	-2.03%	-7.50%	+5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.45%	+0.26%

Volatility

TVAL vs. DLN - Volatility Comparison

T. Rowe Price Value ETF (TVAL) has a higher volatility of 3.62% compared to WisdomTree U.S. LargeCap Dividend Fund (DLN) at 2.78%. This indicates that TVAL'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

	TVAL	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	2.78%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	8.60%	7.00%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	9.03%	+1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.61%	13.27%	-0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.61%	16.14%	-3.53%

TVAL vs. DLN - Expense Ratio Comparison

TVAL has a 0.33% expense ratio, which is higher than DLN's 0.28% expense ratio.

Dividends

TVAL vs. DLN - Dividend Comparison

TVAL's dividend yield for the trailing twelve months is around 0.98%, less 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%
TVAL T. Rowe Price Value ETF	0.98%	1.15%	1.16%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TVAL and DLN in my portfolio?

With a correlation of 0.91, TVAL 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, TVAL or DLN?

TVAL has higher volatility (3.62%) compared to DLN (2.78%). In terms of maximum drawdown, TVAL dropped -14.84% vs DLN's -57.84%.

Which ETF is better, TVAL or DLN?

On 3-year performance, TVAL leads with 19.63% vs 18.12% for DLN. 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, TVAL or DLN?

Over the 3-year period, TVAL has performed better with a 19.63% return vs 18.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TVAL or DLN?

DLN is cheaper with a 0.28% expense ratio, compared with 0.33% for TVAL.

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

DLN has the higher dividend yield at 1.79%, compared with 0.98% for TVAL.

What is the main difference between TVAL and DLN?

They also come from different issuers: T. Rowe Price and WisdomTree. Their fees differ too: 0.33% for TVAL and 0.28% for DLN.

Which has better risk-adjusted returns?

TVAL currently has the higher Sharpe Ratio (2.70 vs 2.39), 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.