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AGG vs. DGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AGG vs. DGRO

Last updated Jun 4, 2026

AGG (iShares Core U.S. Aggregate Bond ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 10 years, AGG returned 1.57%/yr vs 13.30%/yr for DGRO. At a 0.00 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.08%/yr for DGRO.

Performance

AGG vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core U.S. Aggregate Bond ETF (AGG) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AGG achieves a 0.25% return, which is significantly lower than DGRO's 8.76% return. Over the past 10 years, AGG has underperformed DGRO with an annualized return of 1.57%, while DGRO has yielded a comparatively higher 13.30% annualized return.

AGG

1D
-0.21%
1M
0.24%
YTD
0.25%
6M
0.09%
1Y
5.14%
3Y*
3.95%
5Y*
0.10%
10Y*
1.57%

DGRO

1D
-0.28%
1M
3.14%
YTD
8.76%
6M
8.75%
1Y
22.54%
3Y*
16.99%
5Y*
10.54%
10Y*
13.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AGG vs. DGRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AGG
iShares Core U.S. Aggregate Bond ETF		0.25%7.19%1.31%5.65%-13.02%-1.77%7.48%8.46%0.09%3.55%
DGRO
iShares Core Dividend Growth ETF		8.76%15.69%16.62%10.47%-7.91%26.64%9.50%29.87%-2.38%23.00%

Correlation

The correlation between AGG and DGRO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Jun 13, 2014

0.00

Over the past year, AGG and DGRO have become more correlated (0.32) than their long-term average of 0.00, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core U.S. Aggregate Bond ETF

iShares Core Dividend Growth ETF

Often compared with AGG:
AGG vs. BNDAGG vs. TLTAGG vs. HYGAGG vs. FBNDAGG vs. PIMIXAGG vs. IUSBAGG vs. AGGH
Often compared with DGRO:
DGRO vs. SCHDDGRO vs. VIGDGRO vs. VYMDGRO vs. VOODGRO vs. DGRWDGRO vs. DIVODGRO vs. HDV

Return for Risk

AGG vs. DGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AGG
AGG Risk / Return Rank: 3636
Overall Rank
AGG Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
AGG Sortino Ratio Rank: 3838
Sortino Ratio Rank
AGG Omega Ratio Rank: 3535
Omega Ratio Rank
AGG Calmar Ratio Rank: 3737
Calmar Ratio Rank
AGG Martin Ratio Rank: 3636
Martin Ratio Rank
DGRO
DGRO Risk / Return Rank: 7171
Overall Rank
DGRO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DGRO Sortino Ratio Rank: 7676
Sortino Ratio Rank
DGRO Omega Ratio Rank: 7070
Omega Ratio Rank
DGRO Calmar Ratio Rank: 6969
Calmar Ratio Rank
DGRO Martin Ratio Rank: 7171
Martin Ratio Rank
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.

AGG vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) 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.

AGGDGRODifference
Sharpe ratioReturn per unit of total volatility
1.34
2.39

-1.05

Sortino ratioReturn per unit of downside risk
2.00
3.49

-1.49

Omega ratioGain probability vs. loss probability

1.24

1.43

-0.20

Calmar ratioReturn relative to maximum drawdown

1.87

3.50

-1.63

Martin ratioReturn relative to average drawdown

5.73

13.52

-7.79

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGG vs. DGRO - Sharpe Ratio Comparison

The current AGG Sharpe Ratio is 1.34, which is lower than the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of AGG 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.

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Sharpe Ratios by Period

AGGDGRODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.34

2.39

-1.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.02

0.77

-0.75

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.29

0.80

-0.51

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.76

-0.17

Drawdowns

AGG vs. DGRO - Drawdown Comparison

The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for AGG and DGRO.

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Drawdown Indicators

AGGDGRODifference

Max Drawdown

Largest peak-to-trough decline

-18.43%

-35.10%

+16.67%

Max Drawdown (1Y)

Largest decline over 1 year

-2.76%

-6.47%

+3.71%

Max Drawdown (3Y)

Largest decline over 3 years

-6.11%

-14.03%

+7.92%

Max Drawdown (5Y)

Largest decline over 5 years

-17.82%

-19.31%

+1.49%

Max Drawdown (10Y)

Largest decline over 10 years

-18.43%

-35.10%

+16.67%

Current Drawdown

Current decline from peak

-2.14%

-0.28%

-1.86%

Average Drawdown

Average peak-to-trough decline

-2.71%

-3.44%

+0.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.90%

1.67%

-0.77%

Volatility

AGG vs. DGRO - Volatility Comparison

The current volatility for iShares Core U.S. Aggregate Bond ETF (AGG) is 1.30%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.21%. This indicates that AGG experiences smaller price fluctuations and is considered to be less risky than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AGGDGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.30%

2.21%

-0.91%

Volatility (6M)

Calculated over the trailing 6-month period

2.74%

6.91%

-4.17%

Volatility (1Y)

Calculated over the trailing 1-year period

3.85%

9.48%

-5.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.09%

13.82%

-7.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.40%

16.62%

-11.22%

AGG vs. DGRO - Expense Ratio Comparison

AGG has a 0.03% expense ratio, which is lower than DGRO's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AGG vs. DGRO - Dividend Comparison

AGG's dividend yield for the trailing twelve months is around 3.99%, more than DGRO's 1.96% yield.

PositionTTM20252024202320222021202020192018201720162015
AGG
iShares Core U.S. Aggregate Bond ETF		3.99%3.89%3.74%3.13%2.39%1.77%2.14%2.70%2.72%2.32%2.39%2.45%
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

AGG and DGRO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DGRO has higher volatility (2.21%) compared to AGG (1.30%). In terms of maximum drawdown, AGG dropped -18.43% vs DGRO's -35.10%.

On 10-year performance, DGRO leads with 13.30% vs 1.57% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, AGG has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DGRO has performed better with a 13.30% return vs 1.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AGG is cheaper with a 0.03% expense ratio, compared with 0.08% for DGRO.

AGG has the higher dividend yield at 3.99%, compared with 1.96% for DGRO.

AGG is categorized as Total Bond Market, while DGRO is Large Cap Growth Equities. AGG tracks Bloomberg U.S. Aggregate Bond Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.03% for AGG and 0.08% for DGRO.

DGRO currently has the higher Sharpe Ratio (2.39 vs 1.34), 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.

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