DLN vs SPY
DLN vs SPY
WisdomTree US LargeCap 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. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DLN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.28% | 0.09% | |
| AUM | $6.3B | $789.1B | |
| Dividend Yield | 1.79% | 1.01% | |
| Holdings | 307 | 505 | |
| YTD Return | +14.40% | +13.28% | |
| 1Y Return | +22.71% | +23.94% | |
| 3Y Return (annualized) | +18.17% | +21.07% | |
| 5Y Return (annualized) | +12.69% | +13.27% | |
| Volatility (annualized) | 14.2% | 15.3% | |
| Max Drawdown | -57.8% | -56.5% | |
| Fund Family | WisdomTree Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 16, 2006 | Jan 22, 1993 |
DLN vs SPY Performance
WisdomTree US LargeCap Dividend Fund (DLN) 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 DLN returned +22.71% while SPY returned +23.94%. Year to date, DLN is up 14.40% versus a gain of 13.28% for SPY.
Over three years, DLN compounded at +18.17% per year against +21.07% for SPY; over five years the annualized figures are +12.69% and +13.27% respectively. Across the full 20-year window we track, DLN has the edge at +9.92% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.2% for DLN. 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 -57.8% for DLN 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DLN charges 0.28% per year while SPY charges 0.09%. On a $10,000 position that is $28 vs $9 annually, a gap of $19 per year that compounds over a long holding period. On income, DLN currently yields 1.79% against 1.01% for SPY.
Holdings Overlap
DLN and SPY share 273 holdings out of 530 unique holdings combined, representing a 53.7% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in DLN | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 3.38% | 7.31% | 3.93% |
| AAPL | 2.95% | 7.09% | 4.14% |
| MSFT | 2.96% | 4.43% | 1.47% |
| GOOG | Pro | Pro | Pro |
| JPM | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| CVX | Pro | Pro | Pro |
See all 10 holdings DLN shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, DLN or SPY?
DLN has an expense ratio of 0.28% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $19 per year of difference.
Which performed better, DLN or SPY?
Over the past year DLN returned +22.71% vs +23.94% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), DLN annualized +9.92% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, DLN or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.2% for DLN. Worst drawdown: DLN -57.8% vs SPY -56.5%.
Should I hold both DLN and SPY?
DLN and SPY have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between DLN and SPY?
DLN and SPY share 273 common holdings with a 53.7% weight overlap. Combined, they hold 530 unique securities.
Which pays a higher dividend, DLN or SPY?
DLN yields 1.79% while SPY yields 1.01%, so DLN currently pays the higher dividend yield.
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