DGRO vs. LRGF

Last updated Jul 26, 2026

DGRO (iShares Core Dividend Growth ETF) and LRGF (iShares MSCI USA Multifactor ETF) are both exchange-traded funds - DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index, while LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor. Both are passively managed. Over the past 10 years, DGRO returned 13.29%/yr vs 13.48%/yr for LRGF. Their correlation of 0.85 means they have usually moved in the same direction. DGRO charges 0.08%/yr vs 0.20%/yr for LRGF.

Performance

DGRO vs. LRGF - Performance Comparison

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

Returns By Period

In the year-to-date period, DGRO achieves a 13.15% return, which is significantly higher than LRGF's 8.94% return. Both investments have delivered pretty close results over the past 10 years, with DGRO having a 13.29% annualized return and LRGF not far ahead at 13.48%.

DGRO

• 1D: 0.83%
• 1M: 3.14%
• 6M: 10.33%
• YTD: 13.15%
• 1Y: 20.83%
• 3Y*: 16.11%
• 5Y*: 11.10%
• 10Y*: 13.29%
• ALL TIME*: 12.47%

LRGF

• 1D: 0.09%
• 1M: 1.20%
• 6M: 8.82%
• YTD: 8.94%
• 1Y: 15.34%
• 3Y*: 19.41%
• 5Y*: 13.20%
• 10Y*: 13.48%
• ALL TIME*: 12.23%

*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	$96.40M	$101.84M	$109.07M
LRGF iShares MSCI USA Multifactor ETF	$11.35M	$13.93M	$11.55M

DGRO vs. LRGF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGRO iShares Core Dividend Growth ETF	13.15%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%
LRGF iShares MSCI USA Multifactor ETF	8.94%	16.48%	26.59%	25.85%	-14.77%	25.01%	11.11%	26.11%	-9.66%	21.13%

Correlation

The correlation between DGRO and LRGF is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Apr 30, 2015	0.85

Over the past year, the correlation between DGRO and LRGF has dropped to 0.60 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

DGRO vs. LRGF - Sectors Allocation Comparison

Sectors	DGRO	LRGF
Financial Services	20.4%	11.7%
Healthcare	17.9%	9.4%
Technology	17.3%	37.3%
Consumer Defensive	11.9%	4.9%
Industrials	11.3%	8.3%
Utilities	7.3%	2.0%
Consumer Cyclical	6.5%	10.5%
Energy	4.8%	3.1%
Basic Materials	2.5%	1.8%
Communication Services	0.1%	10.0%
Real Estate	-	1.1%

Return for Risk

DGRO vs. LRGF — Risk / Return Rank

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

DGRO

DGRO Risk / Return Rank: 89
DGRO Sharpe Ratio Rank: 91
DGRO Sortino Ratio Rank: 92
DGRO Omega Ratio Rank: 90
DGRO Calmar Ratio Rank: 85
DGRO Martin Ratio Rank: 87

LRGF

LRGF Risk / Return Rank: 52
LRGF Sharpe Ratio Rank: 52
LRGF Sortino Ratio Rank: 51
LRGF Omega Ratio Rank: 50
LRGF Calmar Ratio Rank: 51
LRGF Martin Ratio Rank: 59

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.

DGRO vs. LRGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend Growth ETF (DGRO) and iShares MSCI USA Multifactor ETF (LRGF). 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	LRGF	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.25	+1.00
Sortino ratio: Return per unit of downside risk	3.28	1.77	+1.51
Omega ratio: Gain probability vs. loss probability	1.41	1.22	+0.19
Calmar ratio: Return relative to maximum drawdown	3.30	1.78	+1.52
Martin ratio: Return relative to average drawdown	12.72	6.95	+5.76

DGRO vs. LRGF - Sharpe Ratio Comparison

The current DGRO Sharpe Ratio is 2.25, which is higher than the LRGF Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of DGRO and LRGF, 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. LRGF - Drawdown Comparison

The maximum DGRO drawdown since its inception was -35.10%, roughly equal to the maximum LRGF drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for DGRO and LRGF.

Drawdown Indicators

	DGRO	LRGF	Difference
Max Drawdown Largest peak-to-trough decline	-35.10%	-36.03%	+0.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-8.92%	+2.45%
Max Drawdown (3Y) Largest decline over 3 years	-14.03%	-19.44%	+5.41%
Max Drawdown (5Y) Largest decline over 5 years	-19.31%	-21.62%	+2.31%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	-36.03%	+0.93%
Current Drawdown Current decline from peak	0.00%	-2.11%	+2.11%
Average Drawdown Average peak-to-trough decline	-3.41%	-4.51%	+1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	2.28%	-0.60%

Volatility

DGRO vs. LRGF - Volatility Comparison

iShares Core Dividend Growth ETF (DGRO) and iShares MSCI USA Multifactor ETF (LRGF) have volatilities of 2.81% and 2.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRO	LRGF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	2.90%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	6.96%	9.83%	-2.87%
Volatility (1Y) Calculated over the trailing 1-year period	9.52%	12.69%	-3.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	17.07%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	18.28%	-1.71%

DGRO vs. LRGF - Expense Ratio Comparison

DGRO has a 0.08% expense ratio, which is lower than LRGF's 0.20% expense ratio. Despite the difference, 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. LRGF - Dividend Comparison

DGRO's dividend yield for the trailing twelve months is around 1.90%, more than LRGF's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.90%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
LRGF iShares MSCI USA Multifactor ETF	1.09%	1.16%	1.23%	1.49%	1.78%	1.05%	1.35%	1.76%	3.27%	1.68%	1.56%	0.83%

Frequently Asked Questions

Can I hold both DGRO and LRGF in my portfolio?

DGRO and LRGF have a correlation of 0.60, 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 LRGF?

LRGF has higher volatility (2.90%) compared to DGRO (2.81%). In terms of maximum drawdown, DGRO dropped -35.10% vs LRGF's -36.03%.

Which ETF is better, DGRO or LRGF?

On 10-year performance, LRGF leads with 13.48% vs 13.29% for DGRO. On fees, DGRO is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGRO or LRGF?

Over the 10-year period, LRGF has performed better with a 13.48% return vs 13.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGRO or LRGF?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.20% for LRGF.

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

DGRO has the higher dividend yield at 1.90%, compared with 1.09% for LRGF.

What is the main difference between DGRO and LRGF?

DGRO is categorized as Large Cap Growth Equities, while LRGF is Large Cap Blend Equities. DGRO tracks Morningstar US Dividend Growth Index, while LRGF tracks MSCI USA Diversified Multi-Factor. Their fees differ too: 0.08% for DGRO and 0.20% for LRGF.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.25 vs 1.25), 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.