Applications in broadband optical fiber communication system need variable optical attenuators (VOAs) with low wavelength-dependent loss (WDL). Based on analysis on the dispersion of the optical system of a MEMS-based VOA, we provide a method to reduce the WDL significantly with minor revision on the end-face angle of the collimating lens. Two samples are assembled, and the measured WDL is <0.4 dB over the C-band (1.53–1.57 μm) at a 0–20 dB attenuation range. Meanwhile, the new structure helps to reduce the polarization-dependent loss (PDL) to <0.15 dB, which is only half that of conventional devices.