DHLX vs WTV

DHLXCDiamond Hill Large Cap Concentrated ETF

WTVAWisdomTree U.S. Value Fund

In short

DHLX Twenty-ish US large caps, picked one at a time. Diamond Hill's ETF runs a concentrated value book measured against the Russell 1000 Value Index, which means it deliberately looks nothing like that index.

WTV Most value funds shop for low price tags. WTV shops for cash coming back to shareholders: dividends plus net buybacks, filtered for quality and profitability. Actively run, priced like an index fund at 0.12%.

Stated mandate

DHLX The ETF seeks long-term capital appreciation. Under normal conditions, it invests at least 80% of net assets in U.S. equity securities of large-cap companies the adviser believes are undervalued, in a concentrated portfolio of approximately 20–30 securities.

WTV The fund seeks income and capital appreciation through primarily U.S. equities selected for high total shareholder yield and favorable relative quality characteristics.

Why people hold it

• DHLX A genuinely concentrated book: roughly 20 to 30 US large caps the adviser judges undervalued, with at least 80% of assets in that mandate. No closet indexing here.diamond-hill.com
• Runs Diamond Hill's house intrinsic-value process: model years of a business's future cash flows, estimate what it is worth, then buy at a discount to that number.jpmorgan.comsec.gov
• At 0.55% a year it undercuts several active rivals benchmarked to the same index (BUSA, OAKM, PZLV) and sits at the median for its active value cohort.
• Pays distributions quarterly, and the mandate is US equity only, so there is no currency layer or foreign withholding in the mix.

• WTV Charges 0.12% a year, under a quarter of the 0.55% typical for active US value funds, and less than every same-benchmark rival in its group (JAVA 0.44%, CGVV 0.33%, TEQI 0.54%).
• "Value" here means cash returned: dividend yield plus net buyback yield, with quality and profitability screens, rather than a plain low price-to-book sort.wisdomtree.com
• About 160 US stocks, a multi-billion-dollar asset base, and a live track record dating to 2007. Distributions land quarterly.

Worth knowing

• DHLX Systematic value peers cost a fraction of this: AVLV 0.15%, DFLV 0.21%, WTV 0.12%. The stock picking has to carry that fee gap.
• Concentration cuts both ways. In a non-diversified book of 20 to 30 names, one company's stumble lands with real weight.diamond-hill.com
• Launched in September 2025, so the ETF's own record is short, the asset base is small and trading is moderate rather than deep.

• WTV Full equity with no downside cushion, and a value tilt that can lean into a handful of sectors. Risk is the least polished part of the profile.
• Rules-based active, not an index tracker, so results can diverge from the Russell 1000 Value in either direction.
• Buybacks supply much of the shareholder yield, and companies can scale repurchases back more easily than they cut dividends.wisdomtree.com

Full DHLX profile⁠

Full WTV profile⁠