BGRN vs. DGCB

Last updated Jun 4, 2026

BGRN (iShares USD Green Bond ETF) and DGCB (Dimensional Global Credit ETF) are both Global Bonds funds. BGRN is passively managed, while DGCB is actively managed. Over the past year, BGRN returned 5.19% vs 6.04% for DGCB. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

BGRN vs. DGCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD Green Bond ETF (BGRN) and Dimensional Global Credit ETF (DGCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGRN achieves a 0.43% return, which is significantly lower than DGCB's 1.22% return.

BGRN

• 1D: -0.20%
• 1M: 0.31%
• YTD: 0.43%
• 6M: 0.49%
• 1Y: 5.19%
• 3Y*: 4.75%
• 5Y*: 0.54%
• 10Y*: —

DGCB

• 1D: -0.20%
• 1M: 0.84%
• YTD: 1.22%
• 6M: 1.01%
• 1Y: 6.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BGRN vs. DGCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BGRN iShares USD Green Bond ETF	0.43%	7.27%	2.77%	5.48%
DGCB Dimensional Global Credit ETF	1.22%	6.68%	3.80%	6.14%

Correlation

The correlation between BGRN and DGCB is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.91

The correlation between BGRN and DGCB has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

BGRN vs. DGCB — Risk / Return Rank

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

BGRN

BGRN Risk / Return Rank: 50
BGRN Sharpe Ratio Rank: 51
BGRN Sortino Ratio Rank: 56
BGRN Omega Ratio Rank: 51
BGRN Calmar Ratio Rank: 48
BGRN Martin Ratio Rank: 47

DGCB

DGCB Risk / Return Rank: 43
DGCB Sharpe Ratio Rank: 43
DGCB Sortino Ratio Rank: 44
DGCB Omega Ratio Rank: 43
DGCB Calmar Ratio Rank: 40
DGCB Martin Ratio Rank: 43

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.

BGRN vs. DGCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD Green Bond ETF (BGRN) and Dimensional Global Credit ETF (DGCB). 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.

	BGRN	DGCB	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.53	+0.23
Sortino ratio: Return per unit of downside risk	2.69	2.22	+0.47
Omega ratio: Gain probability vs. loss probability	1.32	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.34	1.97	+0.37
Martin ratio: Return relative to average drawdown	7.85	6.93	+0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGRN vs. DGCB - Sharpe Ratio Comparison

The current BGRN Sharpe Ratio is 1.76, which is comparable to the DGCB Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of BGRN and DGCB, 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

	BGRN	DGCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.53	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.47	-1.02

Drawdowns

BGRN vs. DGCB - Drawdown Comparison

The maximum BGRN drawdown since its inception was -19.16%, which is greater than DGCB's maximum drawdown of -3.50%. Use the drawdown chart below to compare losses from any high point for BGRN and DGCB.

Drawdown Indicators

	BGRN	DGCB	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-3.50%	-15.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.23%	-3.08%	+0.85%
Max Drawdown (3Y) Largest decline over 3 years	-4.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.73%	—	—
Current Drawdown Current decline from peak	-0.83%	-0.65%	-0.18%
Average Drawdown Average peak-to-trough decline	-5.79%	-0.80%	-4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.87%	-0.21%

Volatility

BGRN vs. DGCB - Volatility Comparison

The current volatility for iShares USD Green Bond ETF (BGRN) is 1.06%, while Dimensional Global Credit ETF (DGCB) has a volatility of 1.45%. This indicates that BGRN experiences smaller price fluctuations and is considered to be less risky than DGCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGRN	DGCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	1.45%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	3.17%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	2.97%	3.97%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.46%	4.82%	+0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	4.82%	+0.18%

BGRN vs. DGCB - Expense Ratio Comparison

Both BGRN and DGCB have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BGRN vs. DGCB - Dividend Comparison

BGRN's dividend yield for the trailing twelve months is around 4.29%, more than DGCB's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BGRN iShares USD Green Bond ETF	4.29%	4.21%	4.07%	3.52%	2.66%	0.78%	1.82%	3.66%	0.21%
DGCB Dimensional Global Credit ETF	3.22%	3.43%	4.72%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BGRN and DGCB in my portfolio?

BGRN and DGCB have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGRN or DGCB?

DGCB has higher volatility (1.45%) compared to BGRN (1.06%). In terms of maximum drawdown, BGRN dropped -19.16% vs DGCB's -3.50%.

Which ETF is better, BGRN or DGCB?

On 1-year performance, DGCB leads with 6.04% vs 5.19% for BGRN. Both ETFs have the same 0.20% expense ratio. On volatility, BGRN has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGRN or DGCB?

Over the 1-year period, DGCB has performed better with a 6.04% return vs 5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGRN or DGCB?

BGRN and DGCB have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, BGRN or DGCB?

BGRN has the higher dividend yield at 4.29%, compared with 3.22% for DGCB.

What is the main difference between BGRN and DGCB?

They also come from different issuers: iShares and Dimensional.

Which has better risk-adjusted returns?

BGRN currently has the higher Sharpe Ratio (1.76 vs 1.53), 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.