DLS vs SPY
WisdomTree International SmallCap Dividend Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. DLS offers more diversification with 1,014 holdings.
Side-by-Side Comparison
| Metric | DLS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.58% | 0.09% | |
| AUM | $1.1B | $821.1B | |
| Dividend Yield | 3.50% | 1.01% | |
| Holdings | 1,014 | 505 | |
| YTD Return | +11.11% | +13.70% | |
| 1Y Return | +17.44% | +21.44% | |
| 3Y Return (annualized) | +19.21% | +22.50% | |
| 5Y Return (annualized) | +7.60% | +13.24% | |
| Volatility (annualized) | 17.9% | 15.3% | |
| Max Drawdown | -66.0% | -56.5% | |
| Fund Family | WisdomTree Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 16, 2006 | Jan 22, 1993 |
DLS vs SPY Performance
WisdomTree International SmallCap Dividend Fund (DLS) is a ETF from WisdomTree Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DLS returned +17.44% while SPY returned +21.44%. Year to date, DLS is up 11.11% versus a gain of 13.70% for SPY.
Over three years, DLS compounded at +19.21% per year against +22.50% for SPY; over five years the annualized figures are +7.60% and +13.24% respectively. Across the full 20-year window we track, SPY has the edge at +8.84% annualized vs +3.98%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DLS has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -66.0% for DLS and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DLS charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, DLS currently yields 3.50% against 1.01% for SPY.
Holdings Overlap
DLS and SPY share 0 holdings out of 1439 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DLS or SPY?
DLS has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $49 per year of difference.
Which performed better, DLS or SPY?
Over the past year DLS returned +17.44% vs +21.44% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), DLS annualized +3.98% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, DLS or SPY?
DLS has been the more volatile fund at 17.9% annualized versus 15.3% for SPY. Worst drawdown: DLS -66.0% vs SPY -56.5%.
Should I hold both DLS and SPY?
DLS and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DLS and SPY?
DLS and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1439 unique securities.
Which pays a higher dividend, DLS or SPY?
DLS yields 3.50% while SPY yields 1.01%, so DLS currently pays the higher dividend yield.
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