DIVI vs DNL

DIVIAFranklin International Core Dividend Tilt Index ETF

DNLCWisdomTree Global ex-U.S. Quality Growth Fund

In short

DIVI A tilt, not a screen: DIVI optimizes a broad developed-markets ex-North America index toward higher yield while limiting drift from that parent. Core international shape, income lean, 0.09% a year.

DNL A 2006-vintage WisdomTree original that cut its dividend cord: since October 2025 the index ranks developed and emerging companies outside the U.S. on growth and quality, with no payout required to make the cut.

Stated mandate

DIVI The Fund seeks to track, before fees and expenses, the Morningstar Developed Markets ex-North America Dividend Enhanced Select Index. Its index methodology seeks higher dividend yield than the parent index while maintaining core exposure to developed markets outside North America.

DNL The Fund seeks to track the investment results of companies with quality and growth characteristics in developed and emerging equity markets outside the United States.

Why people hold it

• DIVI Costs 0.09% a year, while the median fund in its international-dividend cohort charges closer to 0.50%.
• The index takes a broad developed ex-North America benchmark and optimizes it for higher yield while limiting expected tracking error to that parent. Income lean, core shape.sec.gov
• Tracks its index closely, among the strongest implementations in its peer group.
• A multi-billion-dollar fund holding about 80 developed-market names, paying distributions quarterly.

• DNL The 2025 rebuild dropped the dividend requirement and switched to market-cap weighting, so the screen is now growth and quality on their own terms rather than payout-driven.wisdomtree.com
• 0.42% a year, below the 0.50% median for screened international funds in its peer group.
• Developed and emerging markets ride in one ticker, so there is no separate EM sleeve to bolt on.wisdomtree.com
• Trading since 2006, one of WisdomTree's first-wave funds, so the operating history is long even though the index playbook is new.

Worth knowing

• DIVI The tilt is mild by design: the index caps how far it can drift from its parent, so it reaches for less yield than funds built on hard high-yield screens.sec.gov
• Cheaper options sit in the same cohort (VYMI at 0.07%, SCHY at 0.08%), so the fee edge is over the category median, not over the largest index shops.
• Today's strategy dates to 2022, when the fund was renamed from Franklin LibertyQ International Equity Hedged ETF, so its 2016-onward record covers a different mandate.sec.gov

• DNL Cohort leaders like VYMI and SCHY charge single-digit basis points; this screen costs several times that.
• Thinly traded next to the giants of international equity, so spreads can run wider than headline cost suggests.
• Income is a byproduct now, not the mission: distributions still land quarterly, but nothing in the methodology requires a dividend.wisdomtree.com

Full DIVI profile⁠

Full DNL profile⁠