ATFV vs. DGRO

Last updated Aug 4, 2026

ATFV (Alger 35 ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds - ATFV tracks the S&P 500 while DGRO tracks the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 5 years, ATFV returned 12.98%/yr vs 11.15%/yr for DGRO. Their 0.54 correlation means they have sometimes moved together and sometimes differently. ATFV charges 0.55%/yr vs 0.08%/yr for DGRO.

Performance

ATFV vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger 35 ETF (ATFV) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ATFV having a 13.28% return and DGRO slightly higher at 13.79%.

ATFV

• 1D: 2.97%
• 1M: 0.00%
• 6M: 14.49%
• YTD: 13.28%
• 1Y: 29.89%
• 3Y*: 36.70%
• 5Y*: 12.98%
• 10Y*: —
• ALL TIME*: 14.16%

DGRO

• 1D: 0.35%
• 1M: 1.32%
• 6M: 9.21%
• YTD: 13.79%
• 1Y: 24.64%
• 3Y*: 17.09%
• 5Y*: 11.15%
• 10Y*: 13.38%
• ALL TIME*: 12.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ATFV Alger 35 ETF	$2.60M	$1.77M	$2.46M
DGRO iShares Core Dividend Growth ETF	$107.57M	$103.25M	$110.55M

ATFV vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ATFV Alger 35 ETF	13.28%	38.20%	46.14%	32.75%	-35.97%	3.03%
DGRO iShares Core Dividend Growth ETF	13.79%	15.69%	16.62%	10.47%	-7.91%	12.29%

Correlation

The correlation between ATFV and DGRO is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.39
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (All Time) Calculated using the full available price history since May 4, 2021	0.54

Over the past year, the correlation between ATFV and DGRO has dropped to 0.26 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

ATFV vs. DGRO - Sectors Allocation Comparison

Sectors	ATFV	DGRO
Technology	43.2%	17.3%
Communication Services	23.6%	0.1%
Industrials	10.3%	11.3%
Healthcare	8.9%	17.9%
Consumer Cyclical	8.3%	6.5%
Utilities	4.8%	7.3%
Financial Services	1.0%	20.4%
Basic Materials	-	2.5%
Consumer Defensive	-	11.9%
Energy	-	4.8%
Real Estate	-	-

Return for Risk

ATFV vs. DGRO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ATFV

ATFV Risk / Return Rank: 43
ATFV Sharpe Ratio Rank: 44
ATFV Sortino Ratio Rank: 44
ATFV Omega Ratio Rank: 41
ATFV Calmar Ratio Rank: 45
ATFV Martin Ratio Rank: 43

DGRO

DGRO Risk / Return Rank: 92
DGRO Sharpe Ratio Rank: 94
DGRO Sortino Ratio Rank: 94
DGRO Omega Ratio Rank: 93
DGRO Calmar Ratio Rank: 90
DGRO Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ATFV vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger 35 ETF (ATFV) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ATFV	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.12	2.60	-1.48
Sortino ratio: Return per unit of downside risk	1.67	3.77	-2.10
Omega ratio: Gain probability vs. loss probability	1.20	1.48	-0.28
Calmar ratio: Return relative to maximum drawdown	1.64	3.83	-2.18
Martin ratio: Return relative to average drawdown	4.95	14.91	-9.96

ATFV vs. DGRO - Sharpe Ratio Comparison

The current ATFV Sharpe Ratio is 1.12, which is lower than the DGRO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of ATFV 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.

Drawdowns

ATFV vs. DGRO - Drawdown Comparison

The maximum ATFV drawdown since its inception was -45.34%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ATFV and DGRO.

Drawdown Indicators

	ATFV	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-45.34%	-35.10%	-10.24%
Max Drawdown (1Y) Largest decline over 1 year	-18.29%	-6.47%	-11.82%
Max Drawdown (3Y) Largest decline over 3 years	-29.01%	-14.03%	-14.98%
Max Drawdown (5Y) Largest decline over 5 years	-45.34%	-19.31%	-26.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-5.38%	-1.01%	-4.37%
Average Drawdown Average peak-to-trough decline	-17.46%	-3.41%	-14.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.06%	1.66%	+4.40%

Volatility

ATFV vs. DGRO - Volatility Comparison

Alger 35 ETF (ATFV) has a higher volatility of 11.08% compared to iShares Core Dividend Growth ETF (DGRO) at 2.88%. This indicates that ATFV'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

	ATFV	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.08%	2.88%	+8.20%
Volatility (6M) Calculated over the trailing 6-month period	21.90%	7.12%	+14.78%
Volatility (1Y) Calculated over the trailing 1-year period	26.92%	9.54%	+17.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.40%	13.79%	+13.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.01%	16.58%	+10.43%

ATFV vs. DGRO - Expense Ratio Comparison

ATFV has a 0.55% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

ATFV vs. DGRO - Dividend Comparison

ATFV's dividend yield for the trailing twelve months is around 0.18%, less than DGRO's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATFV Alger 35 ETF	0.18%	0.20%	0.16%	0.01%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DGRO iShares Core Dividend Growth ETF	1.89%	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 ATFV and DGRO in my portfolio?

ATFV and DGRO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATFV or DGRO?

ATFV has higher volatility (11.08%) compared to DGRO (2.88%). In terms of maximum drawdown, ATFV dropped -45.34% vs DGRO's -35.10%.

Which ETF is better, ATFV or DGRO?

On 5-year performance, ATFV leads with 12.98% vs 11.15% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ATFV or DGRO?

Over the 5-year period, ATFV has performed better with a 12.98% return vs 11.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ATFV or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.55% for ATFV.

Which ETF pays a higher dividend yield, ATFV or DGRO?

DGRO has the higher dividend yield at 1.89%, compared with 0.18% for ATFV.

What is the main difference between ATFV and DGRO?

ATFV tracks S&P 500, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Alger and iShares. Their fees differ too: 0.55% for ATFV and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.60 vs 1.12), 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.