DTS (Digital Theater Systems) is a standard home theater audio format developed in 1993 to compete with Dolby Digital. If used in your home theater system, it provides surround sound for 5.1, 6.1, and 7.1 setups. Compared to Dolby Digital, DTS uses higher bitrate, thereby offering superior sound quality.
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WAV, sometimes called WAV, is an audio container format developed by IBM and Microsoft and comes with a .wav filename extension. Unlike popular formats like MP3 and MP4, WAV isn’t a lossy format, so it’s bigger and less popular. WAV files can be opened on various OS platforms via software like Windows Media Player, MPlayer, VLC Media Player, and more.