CDC vs. DGRO

Last updated Jun 23, 2026

CDC (VictoryShares US EQ Income Enhanced Volatility Wtd ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - CDC is a Large Cap Value Equities fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted 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, CDC returned 10.40%/yr vs 13.58%/yr for DGRO. Their correlation of 0.87 suggests significant overlap in exposure. CDC charges 0.37%/yr vs 0.08%/yr for DGRO.

Performance

CDC vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) 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, CDC achieves a 12.82% return, which is significantly higher than DGRO's 8.84% return. Over the past 10 years, CDC has underperformed DGRO with an annualized return of 10.40%, while DGRO has yielded a comparatively higher 13.58% annualized return.

CDC

• 1D: 0.41%
• 1M: -0.21%
• YTD: 12.82%
• 6M: 12.38%
• 1Y: 20.49%
• 3Y*: 12.60%
• 5Y*: 6.42%
• 10Y*: 10.40%

DGRO

• 1D: 0.08%
• 1M: 0.48%
• YTD: 8.84%
• 6M: 8.25%
• 1Y: 22.81%
• 3Y*: 16.80%
• 5Y*: 11.08%
• 10Y*: 13.58%

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

CDC vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	12.82%	8.96%	14.48%	-4.99%	-7.86%	33.05%	12.88%	19.64%	-5.97%	15.77%
DGRO iShares Core Dividend Growth ETF	8.84%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between CDC and DGRO is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jul 2, 2014	0.87

The correlation between CDC and DGRO has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

CDC vs. DGRO - Sectors Allocation Comparison

Sectors	CDC	DGRO
Financial Services	24.0%	20.6%
Utilities	23.9%	6.4%
Consumer Defensive	15.1%	11.1%
Energy	8.8%	5.1%
Consumer Cyclical	7.0%	5.4%
Healthcare	6.9%	16.5%
Technology	5.0%	22.0%
Industrials	4.4%	10.4%
Communication Services	4.0%	0.1%
Basic Materials	0.0%	2.4%
Real Estate	0.0%	-

Return for Risk

CDC vs. DGRO — Risk / Return Rank

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

CDC

CDC Risk / Return Rank: 68
CDC Sharpe Ratio Rank: 65
CDC Sortino Ratio Rank: 69
CDC Omega Ratio Rank: 60
CDC Calmar Ratio Rank: 74
CDC Martin Ratio Rank: 71

DGRO

DGRO Risk / Return Rank: 77
DGRO Sharpe Ratio Rank: 78
DGRO Sortino Ratio Rank: 82
DGRO Omega Ratio Rank: 77
DGRO Calmar Ratio Rank: 72
DGRO Martin Ratio Rank: 74

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.

CDC vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) 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.

	CDC	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.40	-0.33
Sortino ratio: Return per unit of downside risk	3.02	3.49	-0.48
Omega ratio: Gain probability vs. loss probability	1.35	1.43	-0.08
Calmar ratio: Return relative to maximum drawdown	3.63	3.54	+0.09
Martin ratio: Return relative to average drawdown	12.77	13.67	-0.90

CDC vs. DGRO - Sharpe Ratio Comparison

The current CDC Sharpe Ratio is 2.07, which is comparable to the DGRO Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of CDC 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

CDC vs. DGRO - Drawdown Comparison

The maximum CDC drawdown since its inception was -21.37%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for CDC and DGRO.

Drawdown Indicators

	CDC	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-21.37%	-35.10%	+13.73%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-6.47%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-12.70%	-14.03%	+1.33%
Max Drawdown (5Y) Largest decline over 5 years	-21.37%	-19.31%	-2.06%
Max Drawdown (10Y) Largest decline over 10 years	-21.37%	-35.10%	+13.73%
Current Drawdown Current decline from peak	-1.49%	-1.21%	-0.28%
Average Drawdown Average peak-to-trough decline	-5.09%	-3.43%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.67%	-0.06%

Volatility

CDC vs. DGRO - Volatility Comparison

VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) has a higher volatility of 3.34% compared to iShares Core Dividend Growth ETF (DGRO) at 2.64%. This indicates that CDC'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

	CDC	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	2.64%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	7.08%	6.94%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	9.96%	9.55%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.52%	13.80%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.23%	16.63%	-3.40%

CDC vs. DGRO - Expense Ratio Comparison

CDC has a 0.37% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

CDC vs. DGRO - Dividend Comparison

CDC's dividend yield for the trailing twelve months is around 3.17%, more than DGRO's 1.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	3.17%	3.36%	3.32%	4.24%	3.48%	2.65%	2.48%	3.04%	3.37%	2.81%	2.99%	3.17%
DGRO iShares Core Dividend Growth ETF	1.97%	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 CDC and DGRO in my portfolio?

CDC and DGRO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDC or DGRO?

CDC has higher volatility (3.34%) compared to DGRO (2.64%). In terms of maximum drawdown, CDC dropped -21.37% vs DGRO's -35.10%.

Which ETF is better, CDC or DGRO?

On 10-year performance, DGRO leads with 13.58% vs 10.40% for CDC. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CDC or DGRO?

Over the 10-year period, DGRO has performed better with a 13.58% return vs 10.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CDC or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.37% for CDC.

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

CDC has the higher dividend yield at 3.17%, compared with 1.97% for DGRO.

What is the main difference between CDC and DGRO?

CDC is categorized as Large Cap Value Equities, while DGRO is Large Cap Growth Equities. CDC tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Crestview and iShares. Their fees differ too: 0.37% for CDC and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.40 vs 2.07), 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.