DNL vs SPY
WisdomTree Global ex-US Quality Growth Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, DNL or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. DNL led over 1Y, SPY over 3Y, 5Y and the full window. DNL is less concentrated, with 37.7% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DNL | SPY |
|---|---|---|
| Expense Ratio | 0.42% | 0.09%Best |
| AUM | $503M | $814.4B |
| Dividend Yield | 1.32% | 1.01% |
| Holdings | 202 | 505 |
| YTD Return | +10.79% | +13.34%Best |
| 1Y Return | +20.24%Best | +19.97% |
| 3Y Return (annualized) | +11.57% | +21.20%Best |
| 5Y Return (annualized) | +3.51% | +12.81%Best |
| Volatility (annualized) | 16.4% | 15.2%Best |
| Max Drawdown | -46.9%Best | -56.5% |
| $10,000 over 5 years | $11,883 | $18,270Best |
| Top 10 Weight | 37.7%Best | 38.0% |
| Fund Family | WisdomTree Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Jun 16, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 16, 2006 to Sep 4, 2026 (20.2 years).
DNL vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.2 years both funds cover.
DNL vs SPY Performance
WisdomTree Global ex-US Quality Growth Fund (DNL) is an ETF from WisdomTree Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DNL returned +20.24% while SPY returned +19.97%. Year to date, DNL is up 10.79% versus a gain of 13.34% for SPY.
Over three years, DNL compounded at +11.57% per year against +21.20% for SPY; over five years the annualized figures are +3.51% and +12.81% respectively. Across the full 20-year window we track, SPY has the edge at +9.83% annualized vs +3.73%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DNL has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 15.2% 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 -46.9% for DNL and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DNL charges 0.42% per year while SPY charges 0.09%. On a $10,000 position that is $42 vs $9 annually, a gap of $33 per year that compounds over a long holding period. On income, DNL currently yields 1.32% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 201 holdings in DNL and 504 in SPY, totalling 98.8% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 201 positions we hold weights for in DNL and 504 in SPY, against full books of 202 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for DNL (99.5% of the fund), and 5 for DNL that do not appear in SPY (1.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of DNL and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DNL or SPY?
DNL has an expense ratio of 0.42% while SPY charges 0.09%. SPY is the cheaper option, by $33 a year on a $10,000 investment.
Which performed better, DNL or SPY?
Over the past year DNL returned +20.24% vs +19.97% for SPY, so DNL leads on 1-year performance. Over the longest common window we track (20 years), DNL annualized +3.73% vs +9.83% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DNL or SPY?
DNL has been the more volatile fund at 16.4% annualized versus 15.2% for SPY. Worst drawdown: DNL -46.9% vs SPY -56.5%.
Should I hold both DNL and SPY?
DNL and SPY have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DNL or SPY?
DNL yields 1.32% while SPY yields 1.01%, so DNL currently pays the higher dividend yield.
Is SPY better than DNL?
SPY has a lower expense ratio. DNL led over 1Y, SPY over 3Y, 5Y and the full window. DNL is less concentrated, with 37.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.