At a glance
DLN charges 0.28% a year, above the 0.09% average of the 8 funds most like it (the 8th cheapest of 9). It has $6.14B in assets, the 6th largest of that group; it paid 1.89% of its price in distributions over the past 12 months, monthly. Over the past year it returned +16.0% with distributions reinvested (S&P 500: +11.5%), 5th of those 9 funds; over three years it returned +21.9% a year. At its worst it fell 35.5% in the 2020 crash (S&P 500: 33.7%) and 16.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 10 months after the lows. Its ten largest positions make up 23.4% of the fund, out of 309 in all.
The short version
WisdomTree U.S. LargeCap Dividend Fund (DLN) is an index ETF that holds about 300 of the largest U.S. companies that pay dividends. Each company is weighted by how much cash it is expected to pay out in dividends, not by its size alone. The fund pays monthly, with a trailing yield of 1.89% as of October 27, 2026. Its 0.28% expense ratio is well above the 0.09% average of similar funds.
Price history
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DLN +16.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| DLN official prospectus, to Dec 31, 2025 | — | +15.59% | — | +12.92% | +12.27% | — |
| Wisdom Tree U.S. Large Cap Dividend Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +15.94% | — | +13.28% | +12.62% | — |
| Index10 index, same period | — | +13.19% | — | +12.96% | +11.73% | — |
| S&P 500® Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +17.88% | — | +14.42% | +14.82% | — |
| DLN price data to Oct 27, 2026 | +15.4% | +16.0% | +21.9% | +12.4% | +13.0% | +9.9% |
- Over the year to Oct 27, 2026, DLN returned +16.0%, 5th of 9 among similar funds.
- Its 5-year annualized return was +12.4% and its 10-year +13.0%.
- In the 2020 COVID crash it fell 35.5% and regained its old high 8.1 months after the low.
- Its worst full calendar year was 2008 (-35.1%); its best was 2019 (+28.9%).
- The deepest fall in its price history was 57.8% (Oct 9, 2007 to Mar 9, 2009), recovered by Aug 16, 2012.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +15.4% | — |
| 2025 | +15.6% | +15.59% |
| 2024 | +19.7% | +19.55% |
| 2023 | +10.0% | +9.93% |
| 2022 | -3.7% | -3.79% |
| 2021 | +25.6% | +25.60% |
| 2020 | +4.6% | +4.55% |
| 2019 | +28.9% | +29.03% |
| 2018 | -5.8% | -5.77% |
| 2017 | +18.3% | +18.21% |
| 2016 | +15.6% | +15.37% |
| 2015 | -1.4% | — |
| 2014 | +14.3% | — |
| 2013 | +27.4% | — |
| 2012 | +12.7% | — |
| 2011 | +9.4% | — |
| 2010 | +14.9% | — |
| 2009 | +17.3% | — |
| 2008 | -35.1% | — |
| 2007 | +2.5% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 57.8% over that stretch · deepest drop along the way 57.8%, back to its old high 41.3 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 35.5% over that stretch · deepest drop along the way 35.5%, back to its old high 8.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 14.2% over that stretch · deepest drop along the way 16.2%, back to its old high 9.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.4100 | |
| 2025 | $1.7000 | +8.3% |
| 2024 | $1.5700 | -3.1% |
| 2023 | $1.6200 | +1.2% |
| 2022 | $1.6000 | +19.4% |
| 2021 | $1.3400 | -7.3% |
| 2020 | $1.4450 | +7.8% |
| 2019 | $1.3400 | +8.5% |
| 2018 | $1.2350 | +13.8% |
| 2017 | $1.0850 | +1.4% |
| 2016 | $1.0700 | +7.0% |
| 2015 | $1.0000 | +14.9% |
| 2014 | $0.8700 | +8.1% |
| 2013 | $0.8050 | +0.6% |
| 2012 | $0.8000 | +19.4% |
| 2011 | $0.6700 | +8.1% |
| 2010 | $0.6200 | +7.8% |
| 2009 | $0.5750 | -20.7% |
| 2008 | $0.7250 | -7.6% |
| 2007 | $0.7850 |
What's inside
As of Jun 30, 2026, the fund held 309 securities; the ten largest made up 23.44% of assets.
| Holding | Weight | |
|---|---|---|
| MICROSOFT CORP | 3.69% | |
| NVIDIA CORP | 3.58% | |
| JP MORGAN CHASE & COMPANY | 2.88% | |
| APPLE INC | 2.18% | |
| BROADCOM INC | 2.18% | |
| JOHNSON & JOHNSON | 2.03% | |
| EXXONMOBIL HOLDINGS CORP | 1.85% | |
| META PLATFORMS INC | 1.79% | |
| ABBVIE INC | 1.75% | |
| MORGAN STANLEY | 1.50% | |
| CHEVRON CORP | 1.47% | |
| ALPHABET INC | 1.45% | |
| PHILIP MORRIS INTERNATIONAL INC | 1.43% | |
| MERCK & COMPANY INC | 1.40% | |
| COCA-COLA COMPANY (THE) | 1.33% |
By country
United States 99.84%By asset type
Stocks 99.84%By sector
Sectors of the companies held, for the 94.6% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $49.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.76%, +2.05%, +0.41%.
How it works
DLN tracks the WisdomTree U.S. LargeCap Dividend Index. The index was designed by WisdomTree, Inc., which also owns the fund's adviser, WisdomTree Asset Management. It starts from the WisdomTree U.S. Total Dividend Index: U.S.-listed companies that do most of their business in the U.S. and paid regular cash dividends over the past 12 months. They also need a market value of at least $100 million and median daily trading of at least $100,000. The index keeps the 300 largest by market capitalization (total stock market value). As of June 30, 2026, they ranged from $5.8 billion to $4.7 trillion.
Once a year, each company is weighted by its share of the total cash dividends the group is expected to pay in the coming year. That forecast is based on each company's latest declared dividend. Companies that pay large total dividends can lead the fund even when their yields are low. As of June 30, 2026, the top two were Microsoft (3.7%) and Nvidia (3.6%). At each annual review, no sector may exceed 25%, and real estate is capped at 10%. Weights can drift past these limits between reviews.
The fund uses representative sampling. That means it may hold a sample that behaves like the index instead of every stock, but it keeps at least 80% of its assets in index stocks or close equivalents. It held 309 stocks and no derivatives as of June 30, 2026. Portfolio turnover was 17%.
What it really costs
- DLN charges 0.28% a year, versus an average of 0.09% for the similar funds below (8th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $29 in the first year and $356 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DLN | $29 | $90 | $157 | $356 |
In a retirement portfolio
It spreads money across about 300 large U.S. dividend payers and covers most major sectors, so it works more like a broad stock fund than a high-yield niche.
DLN could serve as a broad U.S. stock holding that pays monthly. The trailing yield was 1.89% as of October 27, 2026. It is still a stock fund, though, and it falls with the market. It lost 57.8% from October 2007 to March 2009 and did not get back to its old peak until August 2012. Its worst calendar year was 2008, down 35.1%. It fell 35.5% in the 2020 COVID crash and recovered by November 2020. In 2022 it dropped 16.2% and recovered in July 2023. Someone forced to sell shares during a slump would lock in losses, so a separate cash or bond reserve may matter. The fund's 0.28% expense ratio is about three times the 0.09% average of similar funds. In the SEC's standard example, it costs $356 over 10 years on $10,000. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want broad U.S. large-company stocks with a dividend tilt: 309 holdings, with the top 10 at about 23% as of June 30, 2026.
- Retirees who value monthly payouts and can accept a modest trailing yield, 1.89% as of October 27, 2026.
- Investors who like weighting by dividend dollars paid, which gives more weight to payers such as JPMorgan, Johnson & Johnson and Exxon Mobil.
Look elsewhere if
- Cost-focused investors: DLN's 0.28% expense ratio ranked 8th of 9 among similar funds, while VTV and ILCV charge 0.04%.
- Those seeking high income: Microsoft and Nvidia lead the fund, which keeps the trailing yield modest at 1.89% as of October 27, 2026.
- Investors who want to match the S&P 500: DLN returned 12.27% a year over 10 years versus 14.82% for the index, through December 31, 2025.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DLN this fund | — | 0.28% | $6.14B | +16.0% | +21.9% |
| DTD WisdomTree U.S. Total Dividend Fund | 89% | 0.28% | $1.61B | +15.9% | +21.3% |
| ILCV iShares Morningstar Value ETF | 63% | 0.04% | $1.32B | +20.5% | +23.4% |
| VTV Vanguard Value ETF | 62% | 0.04% | $254.48B | +25.4% | +22.3% |
| EPS WisdomTree U.S. LargeCap Fund | 61% | 0.08% | $1.58B | +15.6% | +24.3% |
| DGRO iShares Core Dividend Growth ETF | 61% | 0.08% | $42.77B | +21.8% | +20.6% |
| VYM Vanguard High Dividend Yield Index ETF | 60% | 0.06% | $99.19B | +19.1% | +21.2% |
| SPY SPDR S&P 500 ETF Trust | 58% | 0.0945% | $781.19B | +11.5% | +21.9% |
Questions investors ask
What does DLN invest in?
DLN holds large U.S. companies that pay dividends. It tracks the WisdomTree U.S. LargeCap Dividend Index. That index takes the 300 largest firms from WisdomTree's broader U.S. dividend universe and sizes each one by the cash dividends it is projected to pay, not by company value. As of June 30, 2026, the fund had 309 holdings. The largest were Microsoft (3.7%), Nvidia (3.6%), JPMorgan Chase (2.9%), and Apple and Broadcom (about 2.2% each). Technology (20.2%) and financials (16.6%) were the biggest sectors.
Is DLN good for retirement income?
It may suit retirees who want monthly payouts from large U.S. companies, but the income is modest. DLN pays dividends every month. Its trailing 12-month yield (the past year's dividends divided by the share price) was 1.89% as of October 27, 2026. Its index weights companies by total dividend dollars, not by yield, so Microsoft and Nvidia were its largest holdings as of June 30, 2026. Payments vary, and companies can cut dividends. Retirees withdrawing more than the yield would be spending down principal.
What is DLN's expense ratio?
DLN's expense ratio, the yearly fee taken out of fund assets, is 0.28%, according to its prospectus filed July 29, 2026. In the SEC's standard example of $10,000 earning 5% a year, costs would total about $29 after one year, $157 after five years and $356 after ten. That is pricey next to similar funds, which average 0.09%. Vanguard High Dividend Yield Index ETF (VYM) charges 0.06% and iShares Core Dividend Growth ETF (DGRO) 0.08%. DLN ranks 8th of 9 on cost in that group.
What's the difference between DLN and DTD?
The main difference is breadth. DLN holds only the 300 largest companies from the WisdomTree U.S. Total Dividend Index, while DTD, the WisdomTree U.S. Total Dividend Fund, casts a wider net. Otherwise they are close. Both charge 0.28% a year, and their holdings overlap by about 89%. As of October 27, 2026, DLN returned 16% over one year and 21.9% a year over three years, versus 15.9% and 21.3% for DTD. DLN is larger, with about $6.1 billion in assets versus $1.6 billion as of June 30, 2026.
Has DLN beaten the S&P 500?
No. As of December 31, 2025, DLN trailed the S&P 500 over one, five and ten years, according to its prospectus. Over ten years it returned 12.27% a year, versus 14.82% for the index. It has moved less than the market: over the year to October 27, 2026, its beta, a measure of how much it moves with the market, was 0.56. But it is still a stock fund. DLN fell 57.8% in the 2008 financial crisis and took about 41 months from the March 2009 low to recover.