VOOV vs. DLN

Last updated Jun 25, 2026

VOOV (Vanguard S&P 500 Value ETF) and DLN (WisdomTree U.S. LargeCap Dividend Fund) are both Large Cap Value Equities funds - VOOV tracks the S&P 500 Value Index while DLN tracks the WisdomTree U.S. LargeCap Dividend Index. Both are passively managed. Over the past 10 years, VOOV returned 12.06%/yr vs 12.83%/yr for DLN. Their correlation of 0.93 suggests significant overlap in exposure. VOOV charges 0.07%/yr vs 0.28%/yr for DLN.

Performance

VOOV vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 Value ETF (VOOV) 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, VOOV achieves a 7.19% return, which is significantly lower than DLN's 9.74% return. Over the past 10 years, VOOV has underperformed DLN with an annualized return of 12.06%, while DLN has yielded a comparatively higher 12.83% annualized return.

VOOV

• 1D: -0.31%
• 1M: -0.72%
• YTD: 7.19%
• 6M: 6.04%
• 1Y: 18.82%
• 3Y*: 15.04%
• 5Y*: 10.93%
• 10Y*: 12.06%

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)

VOOV vs. DLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VOOV Vanguard S&P 500 Value ETF	7.19%	13.10%	12.21%	22.15%	-5.37%	24.87%	1.23%	31.75%	-9.09%	15.26%
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 VOOV and DLN 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 (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.93

The correlation between VOOV and DLN has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

VOOV vs. DLN - Sectors Allocation Comparison

Sectors	VOOV	DLN
Technology	19.0%	22.8%
Financial Services	15.0%	17.4%
Healthcare	11.6%	12.6%
Consumer Cyclical	11.1%	4.9%
Industrials	11.0%	7.8%
Consumer Defensive	9.5%	8.9%
Energy	7.6%	7.9%
Utilities	4.6%	5.5%
Basic Materials	3.5%	1.0%
Real Estate	3.4%	3.9%
Communication Services	3.3%	7.5%

Return for Risk

VOOV vs. DLN — Risk / Return Rank

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

VOOV

VOOV Risk / Return Rank: 65
VOOV Sharpe Ratio Rank: 65
VOOV Sortino Ratio Rank: 64
VOOV Omega Ratio Rank: 62
VOOV Calmar Ratio Rank: 67
VOOV Martin Ratio Rank: 69

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.

VOOV vs. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Value ETF (VOOV) 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.

	VOOV	DLN	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.28	-0.38
Sortino ratio: Return per unit of downside risk	2.65	3.26	-0.60
Omega ratio: Gain probability vs. loss probability	1.34	1.41	-0.07
Calmar ratio: Return relative to maximum drawdown	3.01	3.37	-0.35
Martin ratio: Return relative to average drawdown	11.41	14.09	-2.69

VOOV vs. DLN - Sharpe Ratio Comparison

The current VOOV Sharpe Ratio is 1.90, which is comparable to the DLN Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VOOV 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

VOOV vs. DLN - Drawdown Comparison

The maximum VOOV drawdown since its inception was -37.31%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for VOOV and DLN.

Drawdown Indicators

	VOOV	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-37.31%	-57.84%	+20.53%
Max Drawdown (1Y) Largest decline over 1 year	-6.27%	-6.10%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-17.55%	-13.71%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	-18.10%	-16.26%	-1.84%
Max Drawdown (10Y) Largest decline over 10 years	-37.31%	-35.82%	-1.49%
Current Drawdown Current decline from peak	-1.56%	-1.31%	-0.25%
Average Drawdown Average peak-to-trough decline	-3.83%	-7.50%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.45%	+0.20%

Volatility

VOOV vs. DLN - Volatility Comparison

Vanguard S&P 500 Value ETF (VOOV) has a higher volatility of 2.85% compared to WisdomTree U.S. LargeCap Dividend Fund (DLN) at 2.70%. This indicates that VOOV'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

	VOOV	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	2.70%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	7.37%	6.99%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	9.96%	9.01%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.43%	13.26%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	16.14%	+0.78%

VOOV vs. DLN - Expense Ratio Comparison

VOOV has a 0.07% expense ratio, which is lower than DLN's 0.28% expense ratio.

Dividends

VOOV vs. DLN - Dividend Comparison

VOOV's dividend yield for the trailing twelve months is around 1.68%, less 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%
VOOV Vanguard S&P 500 Value ETF	1.68%	1.76%	2.10%	1.69%	2.19%	1.87%	2.45%	2.10%	2.65%	2.13%	2.24%	2.36%

Frequently Asked Questions

Can I hold both VOOV and DLN in my portfolio?

With a correlation of 0.93, VOOV 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, VOOV or DLN?

VOOV has higher volatility (2.85%) compared to DLN (2.70%). In terms of maximum drawdown, VOOV dropped -37.31% vs DLN's -57.84%.

Which ETF is better, VOOV or DLN?

On 10-year performance, DLN leads with 12.83% vs 12.06% for VOOV. On fees, VOOV is cheaper at 0.07% 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, VOOV or DLN?

Over the 10-year period, DLN has performed better with a 12.83% return vs 12.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VOOV or DLN?

VOOV is cheaper with a 0.07% expense ratio, compared with 0.28% for DLN.

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

DLN has the higher dividend yield at 1.80%, compared with 1.68% for VOOV.

What is the main difference between VOOV and DLN?

VOOV tracks S&P 500 Value Index, while DLN tracks WisdomTree U.S. LargeCap Dividend Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.07% for VOOV and 0.28% for DLN.

Which has better risk-adjusted returns?

DLN currently has the higher Sharpe Ratio (2.28 vs 1.90), 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.