DGRO vs. ILCG

Last updated Aug 5, 2026

DGRO (iShares Core Dividend Growth ETF) and ILCG (iShares Morningstar Growth ETF) are both Large Cap Growth Equities funds from iShares - DGRO tracks the Morningstar US Dividend Growth Index while ILCG tracks the Morningstar US Large-Mid Cap Broad Growth Index Gross. Both are passively managed. Over the past 10 years, DGRO returned 13.50%/yr vs 17.56%/yr for ILCG. Their 0.72 correlation means they have sometimes moved together and sometimes differently. DGRO charges 0.08%/yr vs 0.04%/yr for ILCG.

Performance

DGRO vs. ILCG - Performance Comparison

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

Returns By Period

In the year-to-date period, DGRO achieves a 15.02% return, which is significantly higher than ILCG's 12.84% return. Over the past 10 years, DGRO has underperformed ILCG with an annualized return of 13.50%, while ILCG has yielded a comparatively higher 17.56% annualized return.

DGRO

• 1D: 1.09%
• 1M: 2.42%
• 6M: 10.12%
• YTD: 15.02%
• 1Y: 24.63%
• 3Y*: 17.52%
• 5Y*: 11.29%
• 10Y*: 13.50%
• ALL TIME*: 12.59%

ILCG

• 1D: 2.86%
• 1M: 2.72%
• 6M: 13.81%
• YTD: 12.84%
• 1Y: 17.11%
• 3Y*: 24.25%
• 5Y*: 12.20%
• 10Y*: 17.56%
• ALL TIME*: 11.75%

*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)
DGRO iShares Core Dividend Growth ETF	$108.47M	$103.38M	$110.52M
ILCG iShares Morningstar Growth ETF	$5.63M	$6.82M	$9.80M

DGRO vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGRO iShares Core Dividend Growth ETF	15.02%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%
ILCG iShares Morningstar Growth ETF	12.84%	16.71%	32.82%	40.41%	-31.75%	24.33%	38.56%	33.22%	2.06%	30.57%

Correlation

The correlation between DGRO and ILCG is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (10Y) Provides a long-term view across more market conditions.	0.69
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.72

Over the past year, the correlation between DGRO and ILCG has dropped to 0.34 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

DGRO vs. ILCG - Sectors Allocation Comparison

Sectors	DGRO	ILCG
Financial Services	20.4%	4.7%
Healthcare	17.9%	5.3%
Technology	17.3%	54.1%
Consumer Defensive	11.9%	1.6%
Industrials	11.3%	10.9%
Utilities	7.3%	0.9%
Consumer Cyclical	6.5%	9.2%
Energy	4.8%	0.7%
Basic Materials	2.5%	1.4%
Communication Services	0.1%	9.7%
Real Estate	-	1.5%

Return for Risk

DGRO vs. ILCG — Risk / Return Rank

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

DGRO

DGRO Risk / Return Rank: 91
DGRO Sharpe Ratio Rank: 93
DGRO Sortino Ratio Rank: 93
DGRO Omega Ratio Rank: 92
DGRO Calmar Ratio Rank: 88
DGRO Martin Ratio Rank: 89

ILCG

ILCG Risk / Return Rank: 32
ILCG Sharpe Ratio Rank: 33
ILCG Sortino Ratio Rank: 32
ILCG Omega Ratio Rank: 31
ILCG Calmar Ratio Rank: 31
ILCG Martin Ratio Rank: 33

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.

DGRO vs. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend Growth ETF (DGRO) and iShares Morningstar Growth ETF (ILCG). 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.

	DGRO	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	2.60	0.91	+1.68
Sortino ratio: Return per unit of downside risk	3.77	1.34	+2.43
Omega ratio: Gain probability vs. loss probability	1.48	1.17	+0.31
Calmar ratio: Return relative to maximum drawdown	3.83	1.10	+2.73
Martin ratio: Return relative to average drawdown	14.91	3.48	+11.42

DGRO vs. ILCG - Sharpe Ratio Comparison

The current DGRO Sharpe Ratio is 2.60, which is higher than the ILCG Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of DGRO and ILCG, 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

DGRO vs. ILCG - Drawdown Comparison

The maximum DGRO drawdown since its inception was -35.10%, smaller than the maximum ILCG drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for DGRO and ILCG.

Drawdown Indicators

	DGRO	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-35.10%	-52.98%	+17.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-15.65%	+9.18%
Max Drawdown (3Y) Largest decline over 3 years	-14.03%	-23.10%	+9.07%
Max Drawdown (5Y) Largest decline over 5 years	-19.31%	-35.38%	+16.07%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	-35.38%	+0.28%
Current Drawdown Current decline from peak	0.00%	-2.44%	+2.44%
Average Drawdown Average peak-to-trough decline	-3.40%	-8.19%	+4.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	4.92%	-3.26%

Volatility

DGRO vs. ILCG - Volatility Comparison

The current volatility for iShares Core Dividend Growth ETF (DGRO) is 3.05%, while iShares Morningstar Growth ETF (ILCG) has a volatility of 6.81%. This indicates that DGRO experiences smaller price fluctuations and is considered to be less risky than ILCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRO	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	6.81%	-3.76%
Volatility (6M) Calculated over the trailing 6-month period	7.16%	15.85%	-8.69%
Volatility (1Y) Calculated over the trailing 1-year period	9.58%	18.91%	-9.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.80%	22.42%	-8.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.59%	21.73%	-5.14%

DGRO vs. ILCG - Expense Ratio Comparison

DGRO has a 0.08% expense ratio, which is higher than ILCG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DGRO vs. ILCG - Dividend Comparison

DGRO's dividend yield for the trailing twelve months is around 1.87%, more than ILCG's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.87%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
ILCG iShares Morningstar Growth ETF	0.41%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%

Frequently Asked Questions

Can I hold both DGRO and ILCG in my portfolio?

DGRO and ILCG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGRO or ILCG?

ILCG has higher volatility (6.81%) compared to DGRO (3.05%). In terms of maximum drawdown, DGRO dropped -35.10% vs ILCG's -52.98%.

Which ETF is better, DGRO or ILCG?

On 10-year performance, ILCG leads with 17.56% vs 13.50% for DGRO. On fees, ILCG is cheaper at 0.04% per year. On volatility, DGRO has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGRO or ILCG?

Over the 10-year period, ILCG has performed better with a 17.56% return vs 13.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGRO or ILCG?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.08% for DGRO.

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

DGRO has the higher dividend yield at 1.87%, compared with 0.41% for ILCG.

What is the main difference between DGRO and ILCG?

DGRO tracks Morningstar US Dividend Growth Index, while ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross. Their fees differ too: 0.08% for DGRO and 0.04% for ILCG.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.60 vs 0.91), 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.