DLS vs IGRO: Grades, Fees and Holdings Compared

WisdomTree International SmallCap Dividend Fund

DLSCNYSE Arca

iShares International Dividend Growth ETF

IGROACboe

Overlap

1.5%by weight

Expense ratio

IGRO −0.43pt a year

DLS0.58%IGRO0.15%

Avg volume · 30D

IGRO 2.7×the volume

DLS15.4KIGRO42.1K

10Y return · a year

IGRO +2.0pt

DLS+7.4%IGRO+9.4%

DLS vs IGRO Performance

Oct 29, 2021 – Oct 30, 2026

+38.7%DLS+56.2%IGRO

Expense ratio: DLS 0.58%; IGRO 0.15%, better
Fund size: DLS $1.03B; IGRO $1.31B
1Y total return: DLS +12.7%; IGRO +19.2%, better
Yield (12M): DLS 3.58%, better; IGRO 2.62%
Holdings: DLS 1266; IGRO 576
Avg volume (30D): DLS 15.4K sh; IGRO 42.1K sh, better
NAV per share: DLS $85.36; IGRO $92.04
52W range

ETF.net Grade

Pillar letters and Scores for DLS, IGRO, with each pillar’s weight
Pillar	DLS	IGRO
Cost30% weight	F16	A85Higher
Mission25% weight	A93	A100Higher
Risk15% weight	D35	B56Higher
Tradability15% weight	C52	B63Higher
Holdings10% weight	A88Higher	C54
Durability5% weight	B65	B69Higher

Rank among International Dividend Index funds

How we build Categories ›

Same Category. DLS and IGRO are both graded against the same 34 International Dividend Index funds, so their Grades compare head to head.

International Dividend Index⁠

Category · 34 funds

See all 34 ›

IGRO ranks 3rd and DLS 19th of 34 funds in the International Dividend Index Category.

Rank 1AVYMIVanguard International High Dividend Yield ETFScore 84
Rank 2ADIVIFranklin International Core Dividend Tilt Index ETFScore 78
Rank 3AIGROiShares International Dividend Growth ETFScore 77
Rank 3ASCHYSchwab International Dividend Equity ETFScore 77
Rank 17BIQDYNorthern Trust International Quality Dividend Dynamic ETFScore 54
Rank 19CDLSWisdomTree International SmallCap Dividend FundScore 53
Rank 19CDNLWisdomTree Global ex-U.S. Quality Growth FundScore 53

Our read on each fund

ETF.net Research

DLSCWisdomTree International SmallCap Dividend Fund

IGROAiShares International Dividend Growth ETF

In short

DLS DLS goes where most international dividend funds don't: about 1,000 small companies across developed markets outside the US and Canada, screened for the dividends they pay. Running since 2006.

IGRO Dividend growth, not dividend yield, taken overseas. IGRO tracks a Morningstar index of non-US companies with a habit of raising their payouts, spread across roughly 500 names, for a fee that undercuts most of the international dividend shelf.

Stated mandate

DLS The Fund seeks to track the price and yield performance of the WisdomTree International SmallCap Dividend Index before fees and expenses.

IGRO The fund seeks to track an index of international stocks with a history of growing dividends, providing dividend-focused international equity exposure for income and long-term growth.

Why people hold it

DLS About 1,000 small-cap dividend payers from developed markets outside the US and Canada, a corner most international income funds skip entirely.
Deep, spread-out portfolio: no single name dominates, which softens the blow when one holding stumbles.
Tracks the WisdomTree International SmallCap Dividend Index closely, doing the job on the tin. Live since 2006 and now a multi-billion-dollar fund that pays quarterly.

IGRO Costs 0.15% a year, well under the typical fee for an international dividend screen.
Does what the label says: it follows the Morningstar Global ex-US Dividend Growth Index closely, one of the tightest index-to-portfolio matches in its peer group.
Roughly 500 non-US payers, so no single dividend carries the fund. Cash goes out quarterly.

Worth knowing

DLS 0.58% a year is above the typical international dividend ETF, and multiples of large-cap rivals like VYMI (0.07%) and SCHY (0.08%). Small-cap research abroad isn't cheap.
Thinly traded for its size, so bid-ask spreads can widen, especially outside overlapping market hours.
Foreign small caps move more sharply than global blue chips, and unhedged currency swings add a second source of bumpiness.

IGRO It trades thin next to heavyweights like VYMI, so limit orders and calmer mid-session trading matter more here.
The screen targets payout growth, not the fattest yields, so income tends to run lighter than yield-first international funds.
Cheaper neighbors exist: VIGI at 0.07% and SCHY at 0.08%, though each tracks a different index with a different holdings list.

Full DLS profile⁠

Full IGRO profile⁠

DLS vs IGRO Holdings

How DLS and IGRO differ

Overlap by weight

1.5%

Shared holdings make up 9.1% of DLS and 1.5% of IGRO.

Level by level

Holdings101 in both1.5%
Countryby domicile49.6%
Sector11 Sectors64.7%
Asset classEquity100%

Sector

Sector weights in DLS and IGRO, widest gap first
Sector	More in DLSMore in IGRO	DLS	IGRO
Financials	IGRO +15.9 points	14.8%	30.8%
Industrials	DLS +14.4 points	28.3%	13.9%
Health Care	IGRO +9.7 points	3.5%	13.2%
Consumer Discretionary	DLS +6.4 points	12.6%	6.2%
Utilities	IGRO +6.2 points	1.9%	8.1%
Real Estate	DLS +5.9 points	6.5%	0.6%
Materials	DLS +5.5 points	9.4%	3.9%
Consumer Staples	IGRO +3.5 points	7.8%	11.3%
Communication	DLS +2.5 points	4.3%	1.8%
Technology	DLS +0.6 points	8.5%	7.9%
Energy	Same weight	2.4%	2.4%

Country, concentration and asset class

Country by domicile

Country weights in DLS and IGRO, widest gap first
Country	More in DLSMore in IGRO	DLS	IGRO
Japan	DLS +19.9 points	40.1%	20.2%
Canada	IGRO +14.3 points	0.0%	14.3%
Switzerland	IGRO +12.7 points	1.4%	14.1%
France	IGRO +8.4 points	2.3%	10.7%
Israel	DLS +5.7 points	5.7%	0.0%
Norway	DLS +5.3 points	5.3%	0.0%
United Kingdom	DLS +4.0 points	12.3%	8.3%
Sweden	DLS +3.6 points	5.1%	1.5%
Other countries (20)	IGRO +3.1 points	27.8%	30.9%

Outside the US: DLS 93% developed, 7% emerging. IGRO 90% developed, 10% emerging.

Concentration

Weight in the 10 largest Holdings

DLS4.5%
IGRO27.4%

Securities held

DLS1,252
IGRO546

Asset class

DLS: Equity
IGRO: Equity

Holdings

Only in DLS1,151
In both101
Only in IGRO445

Only in DLS

1,151 securities, 89.9% of DLS by weight

Dof Group Asa0.56%
Nos Sgps SA0.45%
Ts Lines Ltd0.45%
Solvay SA0.43%
Odfjell Drilling Ltd0.41%
Itv PLC0.38%
Proximus SA0.36%
Kenon Holdings Ltd0.35%
Hammerson Plc0.33%
Dno Asa0.32%
Dah Sing Banking Group Ltd0.32%
Dunelm Group PLC0.32%
REN - Redes Energeticas Nacion0.30%
Bank of Queensland Ltd0.30%
SpareBank 1 SMN0.30%
Lancashire Holdings Ltd0.30%
Enav Spa0.30%
Anima Holding SpA0.30%
Crystal International Group0.28%
Inmobiliaria Colonial SA0.28%
Isramco Negev 2 LP0.28%
Paz Oil Co Ltd0.28%
Seino Holdings Corp0.28%
Bluenord Asa0.27%
Aker Solutions ASA0.27%
Cembra Money Bank AG0.27%
Shufersal Ltd.0.27%
Plus500 Ltd0.27%
Veidekke ASA0.27%
Netlink NBN Trust0.27%
Bumitama Agri Ltd0.26%
Amot Investments Ltd0.26%
Viscofan SA0.25%
Dah Sing Financial Holdings Ltd0.25%
TP Icap Group Plc0.25%
OSB Group Plc0.24%
Health and Happiness H&H Int0.24%
Relo Group Inc0.24%
Lixil Corp0.24%
Greggs PLC0.23%
B&M European Value Retail Pl0.23%
Hysan Development Co Ltd0.23%
Sankyo Co Ltd0.22%
Meitec Group Holdings Inc0.22%
Melexis NV0.22%
Partner Communications Co Ltd0.22%
Metcash Ltd0.22%
Royal UNIBREW A/S0.22%
ComfortDelgro Corp Ltd0.21%
Hexpol AB0.21%

Only in IGRO

445 securities, 97.8% of IGRO by weight

British American Tobacco3.30%
Roche Ps Par AG3.21%
Nestle SA3.16%
Novartis AG3.13%
Taiwan Semiconductor Manufacturing2.80%
Royal Bank of Canada2.77%
Sanofi SA2.35%
Toronto Dominion2.29%
Iberdrola2.26%
Novo Nordisk Class B2.14%
Toyota Motor2.06%
Mitsubishi Ufj Financial Group1.94%
Enel1.88%
Axa SA1.77%
Westpac Banking Corporation1.68%
National Australia Bank1.67%
Sap1.35%
Ubs Group AG1.20%
Sumitomo Mitsui Financial Group1.19%
Canadian Imperial Bank of Commerce1.18%
Vinci SA1.14%
Lair Liquide Societe Anonyme Pour1.10%
Aia Group1.08%
Eni1.07%
Manulife Financial0.99%
Tokio Marine Holdings0.97%
Loreal SA0.96%
Infosys0.96%
Schneider Electric0.89%
Mitsubishi0.83%
Relx PLC0.82%
Compagnie Financiere Richemont SA0.76%
Csl0.73%
Aviva PLC0.71%
Firstrand Ltd0.69%
Mizuho Financial Group0.67%
Bae Systems PLC0.66%
Sun Life Financial Inc0.66%
E.on N0.66%
Itochu0.65%
Canadian National Railway0.63%
Mitsui0.62%
Swiss Life Holding AG0.55%
Nn Group0.51%
Veolia Environ. SA0.47%
Hitachi0.46%
London Stock Exchange Group PLC0.44%
Netease0.44%
Fortis0.43%
Power Corporation of Canada0.43%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in DLS and IGRO, widest gap first
Holding	More in DLSMore in IGRO	DLS	IGRO
Marui Group Co Ltd	DLS +0.20 points	0.25%	0.05%
Kamigumi Co	DLS +0.20 points	0.22%	0.02%
Zeon Corp	DLS +0.18 points	0.21%	0.03%
AJ Bell PlcAJB.L	DLS +0.15 points	0.18%	0.03%
Bravida Holding AB	DLS +0.15 points	0.19%	0.04%
Bekaert SA	DLS +0.15 points	0.18%	0.03%
Sundrug Co Ltd	DLS +0.14 points	0.16%	0.02%
Keller Group PLCKLR.L	DLS +0.14 points	0.17%	0.03%
Takeuchi Mfg Co	DLS +0.14 points	0.15%	<0.01%
Wihlborgs Fastigheter Ab	DLS +0.13 points	0.17%	0.04%
Rinnai Corp	DLS +0.13 points	0.15%	0.02%
Paragon Group of Cos PLCPAG.L	DLS +0.13 points	0.17%	0.04%
AUB Group Ltd	DLS +0.13 points	0.17%	0.04%
Morgan Sindall Group PLCMGNS.L	DLS +0.12 points	0.16%	0.04%
Exeo Group Inc	DLS +0.12 points	0.15%	0.03%
Mitsubishi Logistics Corp	DLS +0.12 points	0.15%	0.03%
Ipsos	DLS +0.12 points	0.15%	0.03%
Also Holding Ag-Reg	DLS +0.11 points	0.13%	0.02%
Nagase & Co Ltd	DLS +0.12 points	0.14%	0.02%
Senko Group Holdings Co Ltd	DLS +0.11 points	0.13%	0.02%
Alfresa Holdings Corp	DLS +0.11 points	0.14%	0.03%
Netwealth Group Ltd	DLS +0.11 points	0.12%	0.01%
Kainos Group PlcKNOS.L	DLS +0.11 points	0.12%	0.01%
Hazama Ando Corp	DLS +0.11 points	0.13%	0.02%
Sankyu Inc	DLS +0.11 points	0.13%	0.02%
Hanwa Co Ltd	DLS +0.11 points	0.13%	0.02%
Nifco Inc/Japan	DLS +0.10 points	0.12%	0.02%
QinetiQ Group PLCQQ.L	DLS +0.10 points	0.13%	0.03%
Clarkson PlcCKN.L	DLS +0.09 points	0.11%	0.02%
Catena AB	DLS +0.09 points	0.11%	0.02%
Vesuvius PLCVSVS.L	DLS +0.10 points	0.13%	0.03%
Nippon Gas Co Ltd	DLS +0.09 points	0.11%	0.02%
Europris Asa	DLS +0.10 points	0.12%	0.02%
Starts Corp Inc	DLS +0.09 points	0.10%	<0.01%
Kokuyo Co Ltd	DLS +0.09 points	0.11%	0.02%
Tomra Systems ASA	DLS +0.09 points	0.11%	0.02%
Katitas Co Ltd	DLS +0.08 points	0.09%	<0.01%
Max Co Ltd	DLS +0.09 points	0.10%	0.01%
Okinawa Cellular Telephone	DLS +0.08 points	0.09%	<0.01%
Okamura Corp	DLS +0.09 points	0.10%	0.01%
Aica Kogyo Co Ltd	DLS +0.08 points	0.10%	0.02%
Goldwin Inc	DLS +0.08 points	0.09%	0.01%
Nohmi Bosai Ltd	DLS +0.07 points	0.08%	<0.01%
Miura Co Ltd	DLS +0.07 points	0.09%	0.02%
Fukuda Denshi Co Ltd	DLS +0.07 points	0.08%	<0.01%
Atoss Software Se	DLS +0.07 points	0.08%	0.01%
Nissui Corp	DLS +0.07 points	0.09%	0.02%
Sho-Bond Holdings Co Ltd	DLS +0.07 points	0.09%	0.02%
DCM Holdings Co Ltd	DLS +0.07 points	0.08%	<0.01%
DTS Corp	DLS +0.07 points	0.08%	0.01%
Kobayashi Pharmaceutical Co Ltd	DLS +0.07 points	0.08%	0.01%
Borregaard ASA	DLS +0.07 points	0.09%	0.02%
Fevertree Drinks PLCFEVR.L	DLS +0.06 points	0.07%	0.01%
Supply Network Ltd	DLS +0.06 points	0.07%	<0.01%
Heiwa Real Estate Co Ltd	DLS +0.06 points	0.07%	<0.01%
Raito Kogyo Co Ltd	DLS +0.07 points	0.08%	0.01%
Open Up Group Inc	DLS +0.06 points	0.07%	<0.01%
Shin-Etsu Polymer Co Ltd	DLS +0.05 points	0.06%	<0.01%
Beijer Alma Ab	DLS +0.05 points	0.06%	<0.01%
SRG Global Ltd	DLS +0.06 points	0.07%	0.01%
Kagome Co Ltd	DLS +0.05 points	0.06%	<0.01%
Rakus Co Ltd	DLS +0.06 points	0.06%	<0.01%
Tkc	DLS +0.05 points	0.06%	<0.01%
Monex Group Inc	DLS +0.05 points	0.06%	<0.01%
Yokogawa Bridge Holdings Corp	DLS +0.05 points	0.06%	<0.01%
Valor Holdings Co Ltd	DLS +0.04 points	0.05%	<0.01%
Ship Healthcare Holdings Inc	DLS +0.05 points	0.06%	<0.01%
Arcs Co Ltd	DLS +0.05 points	0.06%	<0.01%
Noritake Co Ltd	DLS +0.05 points	0.06%	<0.01%
Blue Zones Holdings Co Ltd	DLS +0.05 points	0.08%	0.03%
Usen-Next Holdings Co Ltd	DLS +0.05 points	0.05%	<0.01%
Life Corp	DLS +0.05 points	0.05%	<0.01%
Jeol	DLS +0.05 points	0.06%	0.01%
As One Corp	DLS +0.04 points	0.05%	<0.01%
Fagron	DLS +0.04 points	0.06%	0.01%
Hamakyorex Co Ltd	DLS +0.05 points	0.05%	<0.01%
Harvia Oyj	DLS +0.04 points	0.05%	<0.01%
SBS Holdings Inc.	DLS +0.04 points	0.05%	<0.01%
Adastria Co Ltd	DLS +0.05 points	0.05%	<0.01%
Kusuri No Aoki Holdings Co Ltd	DLS +0.04 points	0.04%	<0.01%
Chemring Group PLCCHG.L	DLS +0.04 points	0.05%	0.01%
Morinaga & Co Ltd	DLS +0.04 points	0.05%	0.01%
Tocalo Co Ltd	DLS +0.04 points	0.05%	<0.01%
Sanyo Denki Co Ltd	DLS +0.04 points	0.04%	<0.01%
Sakai Moving Service Co Ltd	DLS +0.04 points	0.04%	<0.01%
Fukushima Galilei Co	DLS +0.04 points	0.04%	<0.01%
Taihei Dengyo Kaisha Ltd	DLS +0.03 points	0.04%	<0.01%
Sakata Seed Corp	DLS +0.03 points	0.04%	<0.01%
Elecom Co Ltd	DLS +0.03 points	0.04%	<0.01%
Pilot Corp	DLS +0.03 points	0.04%	0.01%
Vitec Software Group Ab-B Sh	DLS +0.03 points	0.04%	<0.01%
Monogatari Corp	DLS +0.03 points	0.03%	<0.01%
Fuso Chemical Co Ltd	DLS +0.03 points	0.03%	<0.01%
Maruzen Showa Unyu Co Ltd	DLS +0.03 points	0.03%	<0.01%
Japan Elevator Service Hldgs	DLS +0.03 points	0.04%	<0.01%
Matsuda Sangyo Co	DLS +0.03 points	0.03%	<0.01%
Yonex Co Ltd	DLS +0.03 points	0.03%	<0.01%
SMS Co Ltd	DLS +0.03 points	0.03%	<0.01%
Nishio Holdings Co Ltd	DLS +0.03 points	0.03%	<0.01%
Komeri Co Ltd	DLS +0.03 points	0.03%	<0.01%

All 1,011 DLS holdings⁠All 547 IGRO 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.

DLS vs IGRO Cost

Overpaying DLS vs IGRO

$8,316

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

DLS 0.58%
$11,453
IGRO 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

DLS 0.58%
IGRO 0.15%
Overpaying

Year by year

Year	DLS	IGRO	Overpaying
10	$1,041	$274	$767
20	$3,986	$1,071	$2,915
30	$11,453	$3,137	$8,316

Expense ratio

0.58%DLS
0.15%IGRO, cheaper

IGRO0.15%DLS0.58%

0.07%0.60%

Middle half of International Dividend Index funds
Median 0.49%

IGRO 6th cheapest of 34 funds

DLS 26th cheapest of 34 funds

DLS vs IGRO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DLS 3.58%, better; IGRO 2.62%
Payout (12M): DLS $3.03; IGRO $2.41
Last payment: DLS $0.60; IGRO $0.43
Ex-dividend: DLS Sep 25, 2026; IGRO Sep 15, 2026
Paid on: DLS Sep 29, 2026; IGRO Sep 18, 2026
Frequency: DLS Quarterly; IGRO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DLSQuarterly · 39 paymentsAll DLS payments⁠

IGROQuarterly · 40 paymentsAll IGRO payments⁠

DLS vs IGRO Risk

Fall from peak · 5 years

DLS
IGRO

Risk facts

VolatilityStd dev, 3 years: DLS 13.0%IGRO 11.1%, better
Return per unit of riskSharpe ratio, 3 years: DLS 1.13IGRO 1.32, better
Worst fallMax drawdown, 5 years: DLS −30.4%IGRO −26.0%, better
Market sensitivityBeta, 5 years: DLS 0.95IGRO 0.74; Market = 1

Popular comparisons

DLSCvsVYMIA
WisdomTree International SmallCap Dividend Fund · Vanguard International High Dividend Yield ETF
Expense ratio
0.58% · 0.07%
Category
IGROAvsVYMIA
iShares International Dividend Growth ETF · Vanguard International High Dividend Yield ETF
Expense ratio
0.15% · 0.07%
Category
DLSCvsDIVIA
WisdomTree International SmallCap Dividend Fund · Franklin International Core Dividend Tilt Index ETF
Expense ratio
0.58% · 0.09%
Category
IGROAvsDIVIA
iShares International Dividend Growth ETF · Franklin International Core Dividend Tilt Index ETF
Expense ratio
0.15% · 0.09%
Category
DLSCvsSCHYA
WisdomTree International SmallCap Dividend Fund · Schwab International Dividend Equity ETF
Expense ratio
0.58% · 0.08%
Category
IGROAvsSCHYA
iShares International Dividend Growth ETF · Schwab International Dividend Equity ETF
Expense ratio
0.15% · 0.08%
Category