DDLS vs VSS: Grades, Fees and Holdings Compared

WisdomTree Dynamic International SmallCap Equity ETF

DDLSCCboe

Vanguard FTSE All-World ex-US Small-Cap ETF

VSSANYSE Arca

Overlap

20.5%by weight

Expense ratio

VSS −0.42pt a year

DDLS0.48%VSS0.06%

Avg volume · 30D

VSS 16.3×the volume

DDLS14.8KVSS243K

10Y return · a year

DDLS +1.8pt

DDLS+9.3%VSS+7.5%

DDLS vs VSS Performance

Nov 2, 2021 – Nov 2, 2026

+54.4%DDLS+25.0%VSS

Expense ratio: DDLS 0.48%; VSS 0.06%, better
Fund size: DDLS $411M; VSS $13.9B
1Y total return: DDLS +11.1%, better; VSS +7.6%
Yield (12M): DDLS 3.40%, better; VSS 3.03%
Holdings: DDLS 1266; VSS 5134
Avg volume (30D): DDLS 14.8K sh; VSS 243K sh, better
NAV per share: DDLS $44.45; VSS $147.79
52W range

ETF.net Grade

Pillar letters and Scores for DDLS, VSS, with each pillar’s weight
Pillar	DDLS	VSS
Cost30% weight	C40	A97Higher
Mission25% weight	Not scored	A100
Risk15% weight	A76Higher	D28
Tradability15% weight	C44	B59Higher
Holdings10% weight	B55	A77Higher
Durability5% weight	C48	A91Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. DDLS and VSS are both graded against the same 16 International Small-Cap funds, so their Grades compare head to head.

International Small-Cap⁠

Category · 16 funds

See all 16 ›

VSS ranks 1st and DDLS 11th of 16 funds in the International Small-Cap Category.

Rank 1ASCZiShares MSCI EAFE Small-Cap ETFScore 79
Rank 1AVSSVanguard FTSE All-World ex-US Small-Cap ETFScore 79
Rank 3ASCHCSchwab International Small-Cap Equity ETFScore 78
Rank 10CDFEWisdomTree Europe SmallCap Dividend FundScore 52
Rank 11CDDLSWisdomTree Dynamic International SmallCap Equity ETFScore 50
Rank 12CHSCZiShares Currency Hedged MSCI EAFE Small-Cap ETFScore 46

Our read on each fund

ETF.net Research

DDLSCWisdomTree Dynamic International SmallCap Equity ETF

VSSAVanguard FTSE All-World ex-US Small-Cap ETF

In short

DDLS Most international small-cap funds pick a lane on currency: fully exposed or fully hedged. DDLS takes a third path, screening developed-market small caps outside the US and Canada for dividend payers, then moving its dollar hedge by rule.

VSS One ticker for the small companies the rest of the world runs on: roughly 4,800 stocks across developed and emerging markets outside the US, at 0.06% a year. Vanguard has run it since 2009.

Stated mandate

DDLS The fund seeks exposure to small-capitalization, dividend-paying companies in the industrialized world outside the United States and Canada, with dynamic hedging of applicable foreign-currency fluctuations against the U.S. dollar.

VSS Seeks to track the FTSE Global Small Cap ex US Index, providing broad exposure to developed and emerging non-U.S. small-cap equity markets worldwide through passive index sampling.

Why people hold it

DDLS The hedge is the point: a rules-based currency overlay that shifts with the dollar, not the fixed always-on or always-off setting most rivals hand you.wisdomtree.com
Roughly 1,000 dividend-paying small caps across the industrialized world outside the US and Canada. Broad by design, and it distributes quarterly.
Running since 2016, so the strategy has worked through several dollar up-and-down stretches rather than one convenient regime.
Follows a named WisdomTree index rather than a manager's discretion, so the dividend screen and the hedge both operate on published rules.

VSS 0.06% a year, against a roughly 0.40% median for international small-cap funds. Only Schwab's SCHC matches the price.
Developed and emerging markets in the same basket, roughly 4,800 names deep, so no single country or company carries much of the load.
Tracks its FTSE Global Small Cap ex US benchmark closely and trades tightly for a fund built on thousands of overseas small caps.
Running since 2009, now a multi-billion-dollar fund that pays out quarterly. Long track record, deep plumbing.vanguard.com

Worth knowing

DDLS At 0.48% it sits above the 0.40% category median, and far above plain-index peers like VSS and SCHC at 0.06%. The hedging machinery is not free.
Thinly traded next to the category's household names, so execution deserves more attention than with the biggest index funds here.
The hedge cuts both ways: it damps currency-driven losses and also gives up the tailwind a weakening dollar hands unhedged international funds.wisdomtree.com

VSS Small caps abroad move harder than blue chips, and everything is priced back into dollars, so currency swings ride along.vanguard.com
Vanguard samples the index rather than buying every line item, so the portfolio approximates the benchmark instead of replicating it.vanguard.com
Coverage stops at the US border by design. American small caps sit entirely outside the mandate.

Full DDLS profile⁠

Full VSS profile⁠

DDLS vs VSS Holdings

How DDLS and VSS differ

Overlap by weight

20.5%

Shared holdings make up 65.8% of DDLS and 20.7% of VSS.

Level by level

Holdings827 in both20.5%
Countryby domicile52.2%
Sector11 Sectors82.8%
Asset classEquity100%

Sector

Sector weights in DDLS and VSS, widest gap first
Sector	More in DDLSMore in VSS	DDLS	VSS
Industrials	DDLS +6.2 points	28.2%	22.0%
Technology	VSS +6.0 points	8.4%	14.4%
Materials	VSS +4.3 points	9.5%	13.8%
Consumer Staples	DDLS +3.6 points	7.8%	4.2%
Health Care	VSS +3.5 points	3.5%	7.0%
Financials	DDLS +3.2 points	14.9%	11.7%
Consumer Discretionary	DDLS +2.4 points	12.6%	10.2%
Communication	DDLS +1.8 points	4.3%	2.5%
Energy	VSS +1.8 points	2.4%	4.2%
Real Estate	VSS +1.2 points	6.5%	7.7%
Utilities	VSS +0.4 points	1.9%	2.3%

Country, concentration and asset class

Country by domicile

Country weights in DDLS and VSS, widest gap first
Country	More in DDLSMore in VSS	DDLS	VSS
Japan	DDLS +24.0 points	40.1%	16.1%
Canada	VSS +9.6 points	0.0%	9.6%
Taiwan	VSS +7.8 points	0.4%	8.2%
India	VSS +6.8 points	0.0%	6.8%
China	VSS +5.4 points	0.4%	5.8%
South Korea	VSS +5.4 points	0.0%	5.4%
Israel	DDLS +4.7 points	5.7%	1.0%
United Kingdom	DDLS +4.1 points	12.3%	8.2%
Other countries (31)	DDLS +2.4 points	41.1%	38.7%

Outside the US: DDLS 93% developed, 7% emerging. VSS 64% developed, 36% emerging.

Concentration

Weight in the 10 largest Holdings

DDLS4.4%
VSS9.4%

Securities held

DDLS1,251
VSS5,094

Asset class

DDLS: Equity
VSS: Equity

Holdings

Only in DDLS424
In both827
Only in VSS4,267

Only in DDLS

424 securities, 33.4% of DDLS by weight

Nos Sgps SA0.45%
Ts Lines Ltd0.45%
Kenon Holdings Ltd0.36%
Dah Sing Banking Group Ltd0.32%
REN - Redes Energeticas Nacion0.31%
Bank of Queensland Ltd0.30%
Isramco Negev 2 LP0.29%
Crystal International Group0.29%
Paz Oil Co Ltd0.28%
Seino Holdings Corp0.28%
Shufersal Ltd.0.27%
Amot Investments Ltd0.26%
Netlink NBN Trust0.26%
Marui Group Co Ltd0.25%
Health and Happiness H&H Int0.24%
Lixil Corp0.24%
Hysan Development Co Ltd0.23%
ComfortDelgro Corp Ltd0.22%
Metcash Ltd0.22%
Kamigumi Co0.22%
Toda Corp0.21%
Downer EDI Ltd0.21%
Zeon Corp0.21%
Sumitomo Rubber Industries Ltd0.20%
Kansai Paint Co Ltd0.20%
Metrovacesa Sa0.20%
Bilfinger SE0.19%
Sparebank 1 Nord Norge0.19%
Seven Bank Ltd0.18%
DIC Corp0.18%
Hutchison Port Holdings Trust0.18%
Kyushu Railway Company0.17%
Aozora Bank Ltd0.17%
Kaneka Corp0.17%
Mabuchi Motor Co0.16%
Daicel Corp0.16%
Rinnai Corp0.15%
Paratus Energy Services Ltd0.15%
Sundrug Co Ltd0.15%
Casio Computer Co Ltd0.15%
Mitsubishi Logistics Corp0.15%
Navigator Co SA0.15%
BIPROGY Inc0.15%
Dalrymple Bay Infrastructure0.15%
SIA Engineering Co Ltd0.15%
Exeo Group Inc0.15%
DMG Mori Co Ltd0.15%
Meitav Investments House Ltd0.15%
Polar Capital Holdings PLC0.14%
House Foods Corp0.14%

Only in VSS

4,267 securities, 79.6% of VSS by weight

SLBBH11425.83%
MSCI EAFE Dec260.48%
DPM Metals Inc0.23%
Eldorado Gold Corp0.23%
Gaztransport Et Technigaz SA0.22%
Storebrand ASA0.20%
thyssenkrupp AG0.20%
G Mining Ventures Corp0.19%
Nkt A/S0.18%
Usd/Jpy Fwd 202612160.18%
AL Sydbank A/S0.18%
Frontline PLC0.17%
LandMark Optoelectronics Corp0.17%
South Bow Corp0.17%
Aedifica SA0.17%
SSR Mining Inc0.17%
Lottomatica Group Spa0.17%
Capital Power Corp0.17%
Konecranes Oyj0.16%
Jyske Bank A/S0.16%
B2Gold Corp0.16%
Ringkjoebing Landbobank A/S0.16%
Lion Finance Group PLC0.16%
Capstone Copper Corp0.16%
OceanaGold Corp0.15%
voestalpine AG0.15%
Nexans SA0.15%
Aberdeen Group PLC0.15%
Perseus Mining Ltd0.14%
Balfour Beatty PLC0.14%
OR Royalties Inc0.14%
IG Group Holdings PLC0.14%
Iss A/S0.14%
LondonMetric Property PLC0.14%
NexGen Energy Ltd0.14%
Umicore SA0.14%
PrairieSky Royalty Ltd0.13%
Wpp PLC0.13%
Persimmon PLC0.13%
Jusung Engineering Co Ltd0.13%
BlackBerry Ltd0.13%
Rotork PLC0.13%
Georg Fischer AG0.13%
MSCI EmgMkt Dec260.13%
Tritax Big Box REIT PLC0.13%
SBM Offshore NV0.13%
Codan Ltd0.13%
Mycronic AB0.13%
Avanza Bank Holding AB0.13%
Man Group PLC/Jersey0.12%

Weight gaps

The 100 widest of 827 Holdings in both funds.

Holding weights in DDLS and VSS, widest gap first
Holding	More in DDLSMore in VSS	DDLS	VSS
Dof Group Asa	DDLS +0.52 points	0.56%	0.04%
Solvay SA	DDLS +0.38 points	0.43%	0.05%
Odfjell Drilling Ltd	DDLS +0.38 points	0.41%	0.03%
Proximus SA	DDLS +0.34 points	0.36%	0.02%
Itv PLCITV.L	DDLS +0.30 points	0.38%	0.08%
Anima Holding SpA	DDLS +0.30 points	0.30%	<0.01%
Dunelm Group PLCDNLM.L	DDLS +0.29 points	0.32%	0.03%
Dno Asa	DDLS +0.28 points	0.32%	0.04%
Hammerson PlcHMSO.L	DDLS +0.28 points	0.34%	0.06%
Enav Spa	DDLS +0.26 points	0.30%	0.04%
Bumitama Agri Ltd	DDLS +0.25 points	0.26%	0.01%
Lancashire Holdings LtdLRE.L	DDLS +0.25 points	0.30%	0.05%
Aker Solutions ASA	DDLS +0.24 points	0.27%	0.03%
Bluenord Asa	DDLS +0.24 points	0.27%	0.03%
SpareBank 1 SMN	DDLS +0.23 points	0.30%	0.07%
Inmobiliaria Colonial SA	DDLS +0.23 points	0.28%	0.05%
Dah Sing Financial Holdings Ltd	DDLS +0.22 points	0.25%	0.03%
Relo Group Inc	DDLS +0.21 points	0.24%	0.03%
Veidekke ASA	DDLS +0.21 points	0.27%	0.06%
Cembra Money Bank AG	DDLS +0.19 points	0.27%	0.08%
Plus500 LtdPLUS.L	DDLS +0.19 points	0.27%	0.08%
Viscofan SA	DDLS +0.19 points	0.25%	0.06%
Melexis NV	DDLS +0.18 points	0.22%	0.04%
Hacksaw Ab	DDLS +0.19 points	0.21%	0.02%
Meitec Group Holdings Inc	DDLS +0.18 points	0.22%	0.04%
Matrix IT Ltd	DDLS +0.18 points	0.18%	0.00%
Partner Communications Co Ltd	DDLS +0.18 points	0.22%	0.04%
Stroeer SE & Co KGaA	DDLS +0.18 points	0.21%	0.03%
Exedy Corp	DDLS +0.17 points	0.20%	0.03%
IDI Insurance Co Ltd	DDLS +0.17 points	0.19%	0.02%
Sankyo Co Ltd	DDLS +0.17 points	0.22%	0.05%
StarHub Ltd	DDLS +0.17 points	0.18%	<0.01%
Interparfums Sa	DDLS +0.17 points	0.19%	0.02%
OSB Group PlcOSB.L	DDLS +0.17 points	0.23%	0.06%
Mpc Container Ships As	DDLS +0.17 points	0.20%	0.03%
Greggs PLCGRG.L	DDLS +0.16 points	0.23%	0.07%
TP Icap Group PlcTCAP.L	DDLS +0.17 points	0.25%	0.08%
Ninety One Plc	DDLS +0.16 points	0.18%	0.02%
Pinnacle Investment Management	DDLS +0.16 points	0.20%	0.04%
Sixt SE	DDLS +0.16 points	0.19%	0.03%
Stolt-Nielsen Ltd	DDLS +0.16 points	0.18%	0.02%
Savills PLCSVS.L	DDLS +0.15 points	0.20%	0.05%
Sirius Real Estate LtdSRE.L	DDLS +0.15 points	0.20%	0.05%
Vicat SA	DDLS +0.15 points	0.18%	0.03%
Banco di Desio e della Brianza	DDLS +0.15 points	0.17%	0.02%
Matsui Securities Co Ltd	DDLS +0.15 points	0.17%	0.02%
Pacific Basin Shipping Ltd	DDLS +0.15 points	0.20%	0.05%
Hexpol AB	DDLS +0.15 points	0.21%	0.06%
Smg Swiss Marketplace Group	DDLS +0.15 points	0.17%	0.02%
Nippon Shokubai Co Ltd	DDLS +0.15 points	0.19%	0.04%
B&M European Value Retail PlBME.L	DDLS +0.15 points	0.23%	0.08%
Tgs Asa	DDLS +0.14 points	0.21%	0.07%
OC Oerlikon Corp AG	DDLS +0.14 points	0.17%	0.03%
Royal UNIBREW A/S	DDLS +0.15 points	0.22%	0.07%
TietoEVRY Corp	DDLS +0.14 points	0.18%	0.04%
Societe BIC SA	DDLS +0.14 points	0.17%	0.03%
Bekaert SA	DDLS +0.14 points	0.17%	0.03%
Pennon Group PlcPNN.L	DDLS +0.14 points	0.21%	0.07%
CA Immobilien Anlagen AG	DDLS +0.14 points	0.16%	0.02%
Etablissements Maurel et Prom	DDLS +0.14 points	0.15%	0.01%
Cairn Homes Plc	DDLS +0.13 points	0.18%	0.05%
Cellcom Israel Ltd	DDLS +0.14 points	0.17%	0.03%
Derwent London PLCDLN.L	DDLS +0.14 points	0.20%	0.06%
FCC Co Ltd	DDLS +0.13 points	0.15%	0.02%
Eurocommercial Properties Nv	DDLS +0.13 points	0.16%	0.03%
Prosegur Cia de Seguridad SA	DDLS +0.13 points	0.14%	<0.01%
Dai-Dan Co Ltd	DDLS +0.14 points	0.18%	0.04%
Montea Nv	DDLS +0.13 points	0.17%	0.04%
Perpetual Ltd	DDLS +0.13 points	0.16%	0.03%
4imprint Group PLCFOUR.L	DDLS +0.13 points	0.17%	0.04%
Chow Sang Sang Hldg	DDLS +0.13 points	0.14%	0.01%
Argan	DDLS +0.13 points	0.16%	0.03%
Moneysupermarket.com Group PLCMONY.L	DDLS +0.12 points	0.15%	0.03%
Super Retail Group Ltd	DDLS +0.13 points	0.16%	0.03%
AJ Bell PlcAJB.L	DDLS +0.12 points	0.18%	0.06%
Jiaxin International Resourc	DDLS +0.13 points	0.14%	0.01%
Atea ASA	DDLS +0.12 points	0.15%	0.03%
JAC Recruitment Co Ltd	DDLS +0.12 points	0.13%	0.01%
Bravida Holding AB	DDLS +0.12 points	0.20%	0.08%
Monadelphous Group Ltd	DDLS +0.12 points	0.17%	0.05%
BWP Trust	DDLS +0.12 points	0.16%	0.04%
Stanmore Coal Ltd	DDLS +0.12 points	0.13%	0.01%
Havas Nv	DDLS +0.12 points	0.15%	0.03%
Wihlborgs Fastigheter Ab	DDLS +0.12 points	0.17%	0.05%
Ipsos	DDLS +0.12 points	0.15%	0.03%
Sparebank 1 Oestlandet	DDLS +0.12 points	0.14%	0.02%
L1 Group Ltd	DDLS +0.12 points	0.13%	0.01%
RHI Magnesita NVRHIM.L	DDLS +0.12 points	0.14%	0.02%
Elekta AB	DDLS +0.11 points	0.16%	0.05%
Koninklijke Heijmans NV	DDLS +0.12 points	0.18%	0.06%
Smartgroup Corp Ltd	DDLS +0.11 points	0.14%	0.03%
Kanematsu Corp	DDLS +0.11 points	0.17%	0.06%
Imerys SA	DDLS +0.11 points	0.13%	0.02%
Construcc Y Aux De Ferrocarr	DDLS +0.11 points	0.15%	0.04%
Dermapharm Holding SE	DDLS +0.11 points	0.12%	0.01%
Bellway PLCBWY.L	DDLS +0.11 points	0.19%	0.08%
AUB Group Ltd	DDLS +0.11 points	0.17%	0.06%
Linea Directa Aseguradora Sa	DDLS +0.11 points	0.13%	0.02%
ADEKA Corp	DDLS +0.11 points	0.17%	0.06%
Takeuchi Mfg Co	DDLS +0.11 points	0.15%	0.04%

All 1,033 DDLS holdings⁠All 4,816 VSS holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DDLS vs VSS Cost

Overpaying DDLS vs VSS

$8,335

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DDLS 0.48%
$9,605
VSS 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

DDLS 0.48%
VSS 0.06%
Overpaying

Year by year

Year	DDLS	VSS	Overpaying
10	$865	$110	$755
20	$3,328	$432	$2,896
30	$9,605	$1,270	$8,335

Expense ratio

0.48%DDLS
0.06%VSS, cheaper

VSS0.06%DDLS0.48%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

VSS cheapest of 16 funds

DDLS 10th cheapest of 16 funds

DDLS vs VSS Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DDLS 3.40%, better; VSS 3.03%
Payout (12M): DDLS $1.51; VSS $4.51
Last payment: DDLS $0.31; VSS $0.30
Ex-dividend: DDLS Sep 25, 2026; VSS Sep 18, 2026
Paid on: DDLS Sep 29, 2026; VSS Sep 22, 2026
Frequency: DDLS Quarterly; VSS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DDLSQuarterly · 37 paymentsAll DDLS payments⁠

VSSQuarterly · 31 paymentsAll VSS payments⁠

DDLS vs VSS Risk

Fall from peak · 5 years

DDLS
VSS

Risk facts

VolatilityStd dev, 3 years: DDLS 10.3%, betterVSS 14.1%
Return per unit of riskSharpe ratio, 3 years: DDLS 1.28, betterVSS 0.88
Worst fallMax drawdown, 5 years: DDLS −19.0%, betterVSS −33.3%
Market sensitivityBeta, 5 years: DDLS 0.77VSS 0.98; Market = 1

DDLS and VSS in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026VSS

Popular comparisons

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WisdomTree Dynamic International SmallCap Equity ETF · iShares MSCI EAFE Small-Cap ETF
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DDLS vs VSS

In short

Stated mandate

Why people hold it

Worth knowing

How DDLS and VSS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DDLS

Only in VSS

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%

How DDLS and VSS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DDLS

Only in VSS

Weight gaps