ADP vs. DGRO

Last updated Jun 9, 2026

ADP (Automatic Data Processing, Inc.) is a stock, while DGRO (iShares Core Dividend Growth ETF) is Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Over the past 10 years, ADP returned 12.50%/yr vs 13.26%/yr for DGRO. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

ADP vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Automatic Data Processing, Inc. (ADP) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADP achieves a -10.21% return, which is significantly lower than DGRO's 8.47% return. Over the past 10 years, ADP has underperformed DGRO with an annualized return of 12.50%, while DGRO has yielded a comparatively higher 13.26% annualized return.

ADP

• 1D: -1.24%
• 1M: 7.55%
• YTD: -10.21%
• 6M: -10.14%
• 1Y: -28.14%
• 3Y*: 4.26%
• 5Y*: 5.16%
• 10Y*: 12.50%

DGRO

• 1D: -0.29%
• 1M: 2.67%
• YTD: 8.47%
• 6M: 9.27%
• 1Y: 21.90%
• 3Y*: 16.63%
• 5Y*: 10.64%
• 10Y*: 13.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADP vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADP Automatic Data Processing, Inc.	-10.21%	-10.18%	28.41%	-0.25%	-1.29%	42.60%	5.86%	32.71%	14.25%	16.54%
DGRO iShares Core Dividend Growth ETF	8.47%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between ADP and DGRO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.66

Over the past year, the correlation between ADP and DGRO has dropped to 0.33 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

ADP vs. DGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADP

ADP Risk / Return Rank: 8
ADP Sharpe Ratio Rank: 2
ADP Sortino Ratio Rank: 4
ADP Omega Ratio Rank: 6
ADP Calmar Ratio Rank: 15
ADP Martin Ratio Rank: 11

DGRO

DGRO Risk / Return Rank: 78
DGRO Sharpe Ratio Rank: 80
DGRO Sortino Ratio Rank: 84
DGRO Omega Ratio Rank: 78
DGRO Calmar Ratio Rank: 74
DGRO Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADP vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Automatic Data Processing, Inc. (ADP) and iShares Core Dividend Growth ETF (DGRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ADP	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	-1.16	2.32	-3.48
Sortino ratio: Return per unit of downside risk	-1.68	3.37	-5.05
Omega ratio: Gain probability vs. loss probability	0.80	1.42	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.72	3.40	-4.12
Martin ratio: Return relative to average drawdown	-1.33	13.12	-14.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADP vs. DGRO - Sharpe Ratio Comparison

The current ADP Sharpe Ratio is -1.16, which is lower than the DGRO Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of ADP and DGRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADP	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.16	2.32	-3.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.77	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.80	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.76	-0.22

Drawdowns

ADP vs. DGRO - Drawdown Comparison

The maximum ADP drawdown since its inception was -59.51%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ADP and DGRO.

Drawdown Indicators

	ADP	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-59.51%	-35.10%	-24.41%
Max Drawdown (1Y) Largest decline over 1 year	-39.25%	-6.47%	-32.78%
Max Drawdown (3Y) Largest decline over 3 years	-40.78%	-14.03%	-26.75%
Max Drawdown (5Y) Largest decline over 5 years	-40.78%	-19.31%	-21.47%
Max Drawdown (10Y) Largest decline over 10 years	-40.78%	-35.10%	-5.68%
Current Drawdown Current decline from peak	-28.14%	-1.07%	-27.07%
Average Drawdown Average peak-to-trough decline	-12.59%	-3.44%	-9.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.88%	1.67%	+21.21%

Volatility

ADP vs. DGRO - Volatility Comparison

Automatic Data Processing, Inc. (ADP) has a higher volatility of 9.30% compared to iShares Core Dividend Growth ETF (DGRO) at 2.32%. This indicates that ADP's price experiences larger fluctuations and is considered to be riskier than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADP	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.30%	2.32%	+6.98%
Volatility (6M) Calculated over the trailing 6-month period	20.42%	6.95%	+13.47%
Volatility (1Y) Calculated over the trailing 1-year period	24.35%	9.52%	+14.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.05%	13.82%	+8.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.48%	16.63%	+7.85%

Dividends

ADP vs. DGRO - Dividend Comparison

ADP's dividend yield for the trailing twelve months is around 2.83%, more than DGRO's 1.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADP Automatic Data Processing, Inc.	2.83%	2.46%	1.96%	2.21%	1.83%	1.55%	2.08%	1.92%	2.14%	2.00%	2.10%	2.36%
DGRO iShares Core Dividend Growth ETF	1.96%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%

Frequently Asked Questions

Can I hold both ADP and DGRO in my portfolio?

ADP and DGRO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADP or DGRO?

ADP has higher volatility (9.30%) compared to DGRO (2.32%). In terms of maximum drawdown, ADP dropped -59.51% vs DGRO's -35.10%.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.32 vs -1.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.