VTV vs. DLS

Last updated Aug 4, 2026

VTV (Vanguard Value ETF) and DLS (WisdomTree International SmallCap Dividend Fund) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while DLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree International SmallCap Dividend Index. Both are passively managed. Over the past 10 years, VTV returned 12.46%/yr vs 7.86%/yr for DLS. Their 0.75 correlation means they have sometimes moved together and sometimes differently. VTV charges 0.04%/yr vs 0.58%/yr for DLS.

Performance

VTV vs. DLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) and WisdomTree International SmallCap Dividend Fund (DLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTV achieves a 16.93% return, which is significantly higher than DLS's 8.83% return. Over the past 10 years, VTV has outperformed DLS with an annualized return of 12.46%, while DLS has yielded a comparatively lower 7.86% annualized return.

VTV

• 1D: 0.48%
• 1M: 0.83%
• 6M: 10.86%
• YTD: 16.93%
• 1Y: 28.55%
• 3Y*: 17.83%
• 5Y*: 12.43%
• 10Y*: 12.46%
• ALL TIME*: 9.69%

DLS

• 1D: 0.38%
• 1M: 1.63%
• 6M: 3.76%
• YTD: 8.83%
• 1Y: 18.81%
• 3Y*: 17.23%
• 5Y*: 7.14%
• 10Y*: 7.86%
• ALL TIME*: 6.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DLS WisdomTree International SmallCap Dividend Fund	$1.55M	$1.40M	$1.52M
VTV Vanguard Value ETF	$655.54M	$670.79M	$624.45M

VTV vs. DLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTV Vanguard Value ETF	16.93%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%
DLS WisdomTree International SmallCap Dividend Fund	8.83%	34.11%	3.06%	15.33%	-17.31%	11.71%	-1.28%	22.20%	-18.95%	31.83%

Correlation

The correlation between VTV and DLS is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Jun 16, 2006	0.75

The correlation between VTV and DLS shifts across timeframes, from 0.61 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

VTV vs. DLS - Sectors Allocation Comparison

Sectors	VTV	DLS
Financial Services	22.4%	13.8%
Technology	15.3%	9.1%
Healthcare	15.2%	3.6%
Industrials	14.3%	28.0%
Consumer Defensive	8.7%	7.7%
Energy	6.9%	2.4%
Utilities	4.8%	2.0%
Consumer Cyclical	3.9%	12.9%
Basic Materials	3.0%	9.0%
Communication Services	2.9%	4.2%
Real Estate	2.5%	7.4%

Return for Risk

VTV vs. DLS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VTV

VTV Risk / Return Rank: 94
VTV Sharpe Ratio Rank: 95
VTV Sortino Ratio Rank: 95
VTV Omega Ratio Rank: 94
VTV Calmar Ratio Rank: 93
VTV Martin Ratio Rank: 93

DLS

DLS Risk / Return Rank: 52
DLS Sharpe Ratio Rank: 54
DLS Sortino Ratio Rank: 55
DLS Omega Ratio Rank: 54
DLS Calmar Ratio Rank: 46
DLS Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VTV vs. DLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) and WisdomTree International SmallCap Dividend Fund (DLS). 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.

	VTV	DLS	Difference
Sharpe ratio: Return per unit of total volatility	2.79	1.36	+1.43
Sortino ratio: Return per unit of downside risk	3.98	1.99	+2.00
Omega ratio: Gain probability vs. loss probability	1.51	1.25	+0.26
Calmar ratio: Return relative to maximum drawdown	4.52	1.71	+2.80
Martin ratio: Return relative to average drawdown	17.46	5.78	+11.69

VTV vs. DLS - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.79, which is higher than the DLS Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of VTV and DLS, 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

VTV vs. DLS - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, smaller than the maximum DLS drawdown of -63.13%. Use the drawdown chart below to compare losses from any high point for VTV and DLS.

Drawdown Indicators

	VTV	DLS	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-63.13%	+3.86%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-11.04%	+4.69%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-12.69%	-1.83%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-32.22%	+15.18%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	-44.77%	+7.99%
Current Drawdown Current decline from peak	-0.89%	-1.21%	+0.32%
Average Drawdown Average peak-to-trough decline	-7.82%	-13.56%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	3.26%	-1.62%

Volatility

VTV vs. DLS - Volatility Comparison

The current volatility for Vanguard Value ETF (VTV) is 2.54%, while WisdomTree International SmallCap Dividend Fund (DLS) has a volatility of 4.11%. This indicates that VTV experiences smaller price fluctuations and is considered to be less risky than DLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTV	DLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	4.11%	-1.57%
Volatility (6M) Calculated over the trailing 6-month period	7.73%	11.78%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.29%	13.92%	-3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.82%	15.64%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	16.38%	+0.24%

VTV vs. DLS - Expense Ratio Comparison

VTV has a 0.04% expense ratio, which is lower than DLS's 0.58% expense ratio.

Dividends

VTV vs. DLS - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.85%, less than DLS's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLS WisdomTree International SmallCap Dividend Fund	3.49%	3.87%	4.56%	4.29%	4.96%	3.29%	2.50%	3.37%	3.66%	2.79%	3.29%	2.72%
VTV Vanguard Value ETF	1.85%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both VTV and DLS in my portfolio?

VTV and DLS have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTV or DLS?

DLS has higher volatility (4.11%) compared to VTV (2.54%). In terms of maximum drawdown, VTV dropped -59.27% vs DLS's -63.13%.

Which ETF is better, VTV or DLS?

On 10-year performance, VTV leads with 12.46% vs 7.86% for DLS. On fees, VTV is cheaper at 0.04% per year. On volatility, VTV has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTV or DLS?

Over the 10-year period, VTV has performed better with a 12.46% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTV or DLS?

VTV is cheaper with a 0.04% expense ratio, compared with 0.58% for DLS.

Which ETF pays a higher dividend yield, VTV or DLS?

DLS has the higher dividend yield at 3.49%, compared with 1.85% for VTV.

What is the main difference between VTV and DLS?

VTV is categorized as Large Cap Value Equities, while DLS is Foreign Small & Mid Cap Equities. VTV tracks CRSP US Large Cap Value Index, while DLS tracks WisdomTree International SmallCap Dividend Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.04% for VTV and 0.58% for DLS.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.79 vs 1.36), 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.