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CUD.TO vs. DGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CUD.TO vs. DGRO

Last updated Jun 4, 2026

CUD.TO (iShares US Dividend Growers Index ETF (CAD-Hedged)) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - CUD.TO is a Large Cap Value Equities fund tracking the S&P High Yield Dividend Aristocrats CAD Hedged 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, CUD.TO returned 5.98%/yr vs 14.12%/yr for DGRO. A 0.65 correlation means they provide meaningful diversification when combined. CUD.TO charges 0.66%/yr vs 0.08%/yr for DGRO.

Performance

CUD.TO vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CUD.TO is traded in CAD, while DGRO is traded in USD. To make them comparable, the DGRO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CUD.TO achieves a 5.32% return, which is significantly lower than DGRO's 10.15% return. Over the past 10 years, CUD.TO has underperformed DGRO with an annualized return of 5.98%, while DGRO has yielded a comparatively higher 14.12% annualized return.

CUD.TO

1D
-0.28%
1M
-0.09%
YTD
5.32%
6M
1.10%
1Y
4.69%
3Y*
5.56%
5Y*
1.77%
10Y*
5.98%

DGRO

1D
0.13%
1M
5.20%
YTD
10.15%
6M
8.33%
1Y
24.12%
3Y*
18.35%
5Y*
13.70%
10Y*
14.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CUD.TO vs. DGRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CUD.TO
iShares US Dividend Growers Index ETF (CAD-Hedged)		5.32%1.72%6.13%0.09%-2.31%18.87%-2.58%21.16%-5.23%14.50%
DGRO
iShares Core Dividend Growth ETF		10.15%10.39%26.64%8.03%-1.35%25.50%7.65%23.48%5.90%15.17%

Correlation

The correlation between CUD.TO and DGRO is 0.51, 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

0.51

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

0.61

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

0.66

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

0.65

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

0.65

The correlation between CUD.TO and DGRO shifts across timeframes, from 0.51 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

CUD.TO vs. DGRO - Sectors Allocation Comparison

Sectors
CUD.TO
DGRO

Industrials

17.3%
10.8%

Consumer Defensive

16.2%
11.5%

Utilities

14.6%
6.9%

Financial Services

12.0%
21.2%

Technology

10.5%
19.4%

Healthcare

7.6%
16.4%

Basic Materials

6.0%
2.5%

Consumer Cyclical

5.8%
5.7%

Real Estate

4.4%

-

Energy

3.2%
5.6%

Communication Services

2.5%
0.1%

Industrials

CUD.TO
17.3%
DGRO
10.8%

Consumer Defensive

CUD.TO
16.2%
DGRO
11.5%

Utilities

CUD.TO
14.6%
DGRO
6.9%

Financial Services

CUD.TO
12.0%
DGRO
21.2%

Technology

CUD.TO
10.5%
DGRO
19.4%

Healthcare

CUD.TO
7.6%
DGRO
16.4%

Basic Materials

CUD.TO
6.0%
DGRO
2.5%

Consumer Cyclical

CUD.TO
5.8%
DGRO
5.7%

Real Estate

CUD.TO
4.4%
DGRO

-

Energy

CUD.TO
3.2%
DGRO
5.6%

Communication Services

CUD.TO
2.5%
DGRO
0.1%

Compare stocks, funds, or ETFs

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iShares US Dividend Growers Index ETF (CAD-Hedged)

iShares Core Dividend Growth ETF

Often compared with CUD.TO:
CUD.TO vs. CDZ.TOCUD.TO vs. XHU.TOCUD.TO vs. CYH.TOCUD.TO vs. SCHDCUD.TO vs. ^GSPCCUD.TO vs. VDY.TOCUD.TO vs. VFV.TO
Often compared with DGRO:
DGRO vs. SCHDDGRO vs. VIGDGRO vs. VYMDGRO vs. VOODGRO vs. DGRWDGRO vs. DIVODGRO vs. HDV

Return for Risk

CUD.TO vs. DGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CUD.TO
CUD.TO Risk / Return Rank: 1515
Overall Rank
CUD.TO Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
CUD.TO Sortino Ratio Rank: 1414
Sortino Ratio Rank
CUD.TO Omega Ratio Rank: 1414
Omega Ratio Rank
CUD.TO Calmar Ratio Rank: 1717
Calmar Ratio Rank
CUD.TO Martin Ratio Rank: 1616
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.

CUD.TO vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) 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.

CUD.TODGRODifference
Sharpe ratioReturn per unit of total volatility
0.40
2.50

-2.10

Sortino ratioReturn per unit of downside risk
0.64
3.59

-2.95

Omega ratioGain probability vs. loss probability

1.08

1.45

-0.37

Calmar ratioReturn relative to maximum drawdown

0.64

4.04

-3.40

Martin ratioReturn relative to average drawdown

1.57

16.09

-14.53

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

CUD.TO vs. DGRO - Sharpe Ratio Comparison

The current CUD.TO Sharpe Ratio is 0.40, which is lower than the DGRO Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of CUD.TO 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

CUD.TODGRODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.40

2.50

-2.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.12

1.14

-1.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

0.94

-0.59

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

1.00

-0.40

Drawdowns

CUD.TO vs. DGRO - Drawdown Comparison

The maximum CUD.TO drawdown since its inception was -38.36%, which is greater than DGRO's maximum drawdown of -29.01%. Use the drawdown chart below to compare losses from any high point for CUD.TO and DGRO.

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Drawdown Indicators

CUD.TODGRODifference

Max Drawdown

Largest peak-to-trough decline

-38.36%

-29.01%

-9.35%

Max Drawdown (1Y)

Largest decline over 1 year

-7.34%

-5.99%

-1.35%

Max Drawdown (3Y)

Largest decline over 3 years

-15.28%

-14.61%

-0.67%

Max Drawdown (5Y)

Largest decline over 5 years

-18.06%

-15.75%

-2.31%

Max Drawdown (10Y)

Largest decline over 10 years

-38.36%

-29.01%

-9.35%

Current Drawdown

Current decline from peak

-4.84%

0.00%

-4.84%

Average Drawdown

Average peak-to-trough decline

-4.09%

-2.82%

-1.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

1.50%

+1.50%

Volatility

CUD.TO vs. DGRO - Volatility Comparison

iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) has a higher volatility of 2.69% compared to iShares Core Dividend Growth ETF (DGRO) at 2.29%. This indicates that CUD.TO'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.

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Volatility by Period

CUD.TODGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.69%

2.29%

+0.40%

Volatility (6M)

Calculated over the trailing 6-month period

8.82%

7.34%

+1.48%

Volatility (1Y)

Calculated over the trailing 1-year period

11.74%

9.70%

+2.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.67%

12.03%

+2.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.20%

15.04%

+2.16%

CUD.TO vs. DGRO - Expense Ratio Comparison

CUD.TO has a 0.66% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

CUD.TO vs. DGRO - Dividend Comparison

CUD.TO's dividend yield for the trailing twelve months is around 1.92%, less than DGRO's 1.96% yield.

PositionTTM20252024202320222021202020192018201720162015
CUD.TO
iShares US Dividend Growers Index ETF (CAD-Hedged)		1.92%1.99%1.76%1.96%1.84%1.98%2.05%1.65%2.05%1.44%1.76%1.72%
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

CUD.TO and DGRO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, DGRO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

DGRO is cheaper with a 0.08% expense ratio, compared with 0.66% for CUD.TO.

CUD.TO is categorized as Large Cap Value Equities, while DGRO is Large Cap Growth Equities. CUD.TO tracks S&P High Yield Dividend Aristocrats CAD Hedged Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.66% for CUD.TO and 0.08% for DGRO.

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