VLLU vs. DLN

Last updated Jun 24, 2026

VLLU (Harbor AlphaEdge Large Cap Value ETF) and DLN (WisdomTree U.S. LargeCap Dividend Fund) are both Large Cap Value Equities funds - VLLU tracks the Harbor AlphaEdge Large Cap Value Index while DLN tracks the WisdomTree U.S. LargeCap Dividend Index. Both are passively managed. Over the past year, VLLU returned 24.32% vs 21.42% for DLN. Their correlation of 0.88 suggests significant overlap in exposure. VLLU charges 0.25%/yr vs 0.28%/yr for DLN.

Performance

VLLU vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Large Cap Value ETF (VLLU) 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, VLLU achieves a 11.38% return, which is significantly higher than DLN's 9.95% return.

VLLU

• 1D: -1.09%
• 1M: 2.18%
• YTD: 11.38%
• 6M: 10.08%
• 1Y: 24.32%
• 3Y*: —
• 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)

VLLU vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VLLU Harbor AlphaEdge Large Cap Value ETF	11.38%	17.35%	1.89%
DLN WisdomTree U.S. LargeCap Dividend Fund	9.95%	15.53%	2.39%

Correlation

The correlation between VLLU 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 (All Time) Calculated using the full available price history since Sep 5, 2024	0.88

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

VLLU vs. DLN - Sectors Allocation Comparison

Sectors	VLLU	DLN
Technology	26.6%	22.8%
Financial Services	22.2%	17.4%
Healthcare	13.1%	12.6%
Industrials	9.8%	7.8%
Energy	7.3%	7.9%
Consumer Defensive	6.4%	8.9%
Consumer Cyclical	5.4%	4.9%
Communication Services	5.0%	7.5%
Basic Materials	3.7%	1.0%
Utilities	0.6%	5.5%
Real Estate	-	3.9%

Return for Risk

VLLU vs. DLN — Risk / Return Rank

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

VLLU

VLLU Risk / Return Rank: 77
VLLU Sharpe Ratio Rank: 75
VLLU Sortino Ratio Rank: 78
VLLU Omega Ratio Rank: 71
VLLU Calmar Ratio Rank: 81
VLLU Martin Ratio Rank: 79

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.

VLLU vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Large Cap Value ETF (VLLU) 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.

	VLLU	DLN	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.39	-0.21
Sortino ratio: Return per unit of downside risk	3.14	3.40	-0.26
Omega ratio: Gain probability vs. loss probability	1.38	1.43	-0.05
Calmar ratio: Return relative to maximum drawdown	3.86	3.53	+0.33
Martin ratio: Return relative to average drawdown	13.98	14.80	-0.82

VLLU vs. DLN - Sharpe Ratio Comparison

The current VLLU Sharpe Ratio is 2.18, which is comparable to the DLN Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of VLLU 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

VLLU vs. DLN - Drawdown Comparison

The maximum VLLU drawdown since its inception was -16.62%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for VLLU and DLN.

Drawdown Indicators

	VLLU	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-16.62%	-57.84%	+41.22%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-6.10%	-0.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.71%	—
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	-1.20%	-1.12%	-0.08%
Average Drawdown Average peak-to-trough decline	-2.41%	-7.50%	+5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.45%	+0.29%

Volatility

VLLU vs. DLN - Volatility Comparison

Harbor AlphaEdge Large Cap Value ETF (VLLU) has a higher volatility of 3.94% compared to WisdomTree U.S. LargeCap Dividend Fund (DLN) at 2.78%. This indicates that VLLU'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

	VLLU	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	2.78%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	8.46%	7.00%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	11.23%	9.03%	+2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	13.27%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.82%	16.14%	-1.32%

VLLU vs. DLN - Expense Ratio Comparison

VLLU has a 0.25% expense ratio, which is lower than DLN's 0.28% expense ratio.

Dividends

VLLU vs. DLN - Dividend Comparison

VLLU's dividend yield for the trailing twelve months is around 1.36%, 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%
VLLU Harbor AlphaEdge Large Cap Value ETF	1.36%	1.52%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VLLU and DLN in my portfolio?

VLLU 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, VLLU or DLN?

VLLU has higher volatility (3.94%) compared to DLN (2.78%). In terms of maximum drawdown, VLLU dropped -16.62% vs DLN's -57.84%.

Which ETF is better, VLLU or DLN?

On 1-year performance, VLLU leads with 24.32% vs 21.42% for DLN. On fees, VLLU is cheaper at 0.25% 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, VLLU or DLN?

Over the 1-year period, VLLU has performed better with a 24.32% return vs 21.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLLU or DLN?

VLLU is cheaper with a 0.25% expense ratio, compared with 0.28% for DLN.

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

DLN has the higher dividend yield at 1.79%, compared with 1.36% for VLLU.

What is the main difference between VLLU and DLN?

VLLU tracks Harbor AlphaEdge Large Cap Value Index, while DLN tracks WisdomTree U.S. LargeCap Dividend Index. They also come from different issuers: Harbor and WisdomTree. Their fees differ too: 0.25% for VLLU and 0.28% for DLN.

Which has better risk-adjusted returns?

DLN currently has the higher Sharpe Ratio (2.39 vs 2.18), 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.