WAMA vs. DALI

Last updated Jul 17, 2026

WAMA (WisdomTree U.S. Adaptive Moving Average Fund) and DALI (First Trust Dorsey Wright DALI 1 ETF) are both Tactical Allocation funds - WAMA tracks the WisdomTree U.S. Adaptive Moving Average Index while DALI tracks the Dorsey Wright DALI 1 Index. Both are passively managed. A 0.78 correlation means they provide meaningful diversification when combined. WAMA charges 0.32%/yr vs 0.90%/yr for DALI.

Performance

WAMA vs. DALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. Adaptive Moving Average Fund (WAMA) and First Trust Dorsey Wright DALI 1 ETF (DALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WAMA

• 1D: -0.57%
• 1M: 0.39%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DALI

• 1D: -1.54%
• 1M: -7.76%
• 6M: -6.20%
• YTD: -0.65%
• 1Y: 8.05%
• 3Y*: 2.82%
• 5Y*: 4.06%
• 10Y*: —

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

WAMA vs. DALI - Yearly Performance Comparison

	2026 (YTD)
WAMA WisdomTree U.S. Adaptive Moving Average Fund	7.51%
DALI First Trust Dorsey Wright DALI 1 ETF	-0.12%

Correlation

The correlation between WAMA and DALI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	0.78

Return for Risk

WAMA vs. DALI — Risk / Return Rank

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

WAMA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

DALI

DALI Risk / Return Rank: 18
DALI Sharpe Ratio Rank: 17
DALI Sortino Ratio Rank: 16
DALI Omega Ratio Rank: 16
DALI Calmar Ratio Rank: 19
DALI Martin Ratio Rank: 22

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.

WAMA vs. DALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Adaptive Moving Average Fund (WAMA) and First Trust Dorsey Wright DALI 1 ETF (DALI). 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.

	WAMA	DALI	Difference
Sharpe ratio: Return per unit of total volatility	—	0.43	—
Sortino ratio: Return per unit of downside risk	—	0.71	—
Omega ratio: Gain probability vs. loss probability	—	1.09	—
Calmar ratio: Return relative to maximum drawdown	—	0.64	—
Martin ratio: Return relative to average drawdown	—	2.08	—

Drawdowns

WAMA vs. DALI - Drawdown Comparison

The maximum WAMA drawdown since its inception was -5.73%, smaller than the maximum DALI drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for WAMA and DALI.

Drawdown Indicators

	WAMA	DALI	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-36.06%	+30.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.54%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.26%	—
Current Drawdown Current decline from peak	-0.93%	-9.06%	+8.13%
Average Drawdown Average peak-to-trough decline	-1.41%	-10.07%	+8.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.88%	—

Volatility

Volatility by Period

	WAMA	DALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	18.90%	-5.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.56%	19.95%	-6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.56%	20.98%	-7.42%

WAMA vs. DALI - Expense Ratio Comparison

WAMA has a 0.32% expense ratio, which is lower than DALI's 0.90% expense ratio.

Dividends

WAMA vs. DALI - Dividend Comparison

WAMA's dividend yield for the trailing twelve months is around 0.42%, less than DALI's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DALI First Trust Dorsey Wright DALI 1 ETF	1.20%	0.38%	0.18%	3.42%	0.50%	0.11%	1.25%	0.45%	0.17%
WAMA WisdomTree U.S. Adaptive Moving Average Fund	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WAMA and DALI in my portfolio?

WAMA and DALI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WAMA or DALI?

On fees, WAMA is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAMA or DALI?

WAMA is cheaper with a 0.32% expense ratio, compared with 0.90% for DALI.

Which ETF pays a higher dividend yield, WAMA or DALI?

DALI has the higher dividend yield at 1.20%, compared with 0.42% for WAMA.

What is the main difference between WAMA and DALI?

WAMA tracks WisdomTree U.S. Adaptive Moving Average Index, while DALI tracks Dorsey Wright DALI 1 Index. They also come from different issuers: WisdomTree and First Trust. Their fees differ too: 0.32% for WAMA and 0.90% for DALI.