CPHYX vs. DGRO

Last updated Jun 3, 2026

CPHYX (Principal High Yield Fund) and DGRO (iShares Core Dividend Growth ETF) are both funds - CPHYX is a High Yield Bonds fund managed by Principal, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Over the past 10 years, CPHYX returned 5.10%/yr vs 13.33%/yr for DGRO. At a 0.41 correlation, their price movements are largely independent. CPHYX charges 0.91%/yr vs 0.08%/yr for DGRO.

Performance

CPHYX vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal High Yield Fund (CPHYX) 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, CPHYX achieves a 1.55% return, which is significantly lower than DGRO's 9.06% return. Over the past 10 years, CPHYX has underperformed DGRO with an annualized return of 5.10%, while DGRO has yielded a comparatively higher 13.33% annualized return.

CPHYX

• 1D: 0.00%
• 1M: 0.42%
• YTD: 1.55%
• 6M: 2.27%
• 1Y: 6.10%
• 3Y*: 7.37%
• 5Y*: 3.72%
• 10Y*: 5.10%

DGRO

• 1D: 0.83%
• 1M: 2.63%
• YTD: 9.06%
• 6M: 10.08%
• 1Y: 23.65%
• 3Y*: 17.10%
• 5Y*: 10.72%
• 10Y*: 13.33%

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

CPHYX vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPHYX Principal High Yield Fund	1.55%	6.68%	7.09%	11.27%	-9.32%	5.41%	6.11%	13.24%	-4.76%	7.78%
DGRO iShares Core Dividend Growth ETF	9.06%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between CPHYX and DGRO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.41

Return for Risk

CPHYX vs. DGRO — Risk / Return Rank

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

CPHYX

CPHYX Risk / Return Rank: 58
CPHYX Sharpe Ratio Rank: 43
CPHYX Sortino Ratio Rank: 62
CPHYX Omega Ratio Rank: 72
CPHYX Calmar Ratio Rank: 46
CPHYX Martin Ratio Rank: 69

DGRO

DGRO Risk / Return Rank: 76
DGRO Sharpe Ratio Rank: 76
DGRO Sortino Ratio Rank: 81
DGRO Omega Ratio Rank: 76
DGRO Calmar Ratio Rank: 73
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.

CPHYX vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal High Yield Fund (CPHYX) 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.

	CPHYX	DGRO	Difference
Sharpe ratio Return per unit of total volatility	1.92	2.51	-0.59
Sortino ratio Return per unit of downside risk	3.31	3.64	-0.34
Omega ratio Gain probability vs. loss probability	1.47	1.46	+0.02
Calmar ratio Return relative to maximum drawdown	2.62	3.71	-1.09
Martin ratio Return relative to average drawdown	13.28	14.35	-1.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPHYX vs. DGRO - Sharpe Ratio Comparison

The current CPHYX Sharpe Ratio is 1.92, which is comparable to the DGRO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of CPHYX 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

	CPHYX	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	2.51	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.78	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.95	0.80	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.77	+0.37

Drawdowns

CPHYX vs. DGRO - Drawdown Comparison

The maximum CPHYX drawdown since its inception was -27.79%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for CPHYX and DGRO.

Drawdown Indicators

	CPHYX	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-27.79%	-35.10%	+7.31%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-6.47%	+3.86%
Max Drawdown (3Y) Largest decline over 3 years	-4.48%	-14.03%	+9.55%
Max Drawdown (5Y) Largest decline over 5 years	-14.33%	-19.31%	+4.98%
Max Drawdown (10Y) Largest decline over 10 years	-20.68%	-35.10%	+14.42%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.62%	-3.45%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.67%	-1.15%

Volatility

CPHYX vs. DGRO - Volatility Comparison

The current volatility for Principal High Yield Fund (CPHYX) is 0.88%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.36%. This indicates that CPHYX 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.

Volatility by Period

	CPHYX	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	2.36%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	2.54%	6.96%	-4.42%
Volatility (1Y) Calculated over the trailing 1-year period	3.19%	9.47%	-6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.77%	13.82%	-9.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.37%	16.63%	-11.26%

CPHYX vs. DGRO - Expense Ratio Comparison

CPHYX has a 0.91% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

CPHYX vs. DGRO - Dividend Comparison

CPHYX's dividend yield for the trailing twelve months is around 6.56%, more than DGRO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPHYX Principal High Yield Fund	6.56%	6.46%	6.23%	4.70%	4.56%	4.72%	4.82%	5.50%	6.18%	4.90%	5.62%	6.24%
DGRO iShares Core Dividend Growth ETF	1.95%	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 CPHYX and DGRO in my portfolio?

CPHYX and DGRO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPHYX or DGRO?

DGRO has higher volatility (2.36%) compared to CPHYX (0.88%). In terms of maximum drawdown, CPHYX dropped -27.79% vs DGRO's -35.10%.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.51 vs 1.92), 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.