DGRO vs. VEGN

Last updated Aug 5, 2026

DGRO (iShares Core Dividend Growth ETF) and VEGN (US Vegan Climate ETF) are both Large Cap Growth Equities funds - DGRO tracks the Morningstar US Dividend Growth Index while VEGN tracks the US Vegan Climate Index. Both are passively managed. Over the past 5 years, DGRO returned 11.29%/yr vs 14.78%/yr for VEGN. Their 0.75 correlation means they have sometimes moved together and sometimes differently. DGRO charges 0.08%/yr vs 0.60%/yr for VEGN.

Performance

DGRO vs. VEGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Dividend Growth ETF (DGRO) and US Vegan Climate ETF (VEGN). 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 lower than VEGN's 29.35% 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%

VEGN

• 1D: 3.57%
• 1M: 0.51%
• 6M: 28.77%
• YTD: 29.35%
• 1Y: 41.03%
• 3Y*: 26.67%
• 5Y*: 14.78%
• 10Y*: —
• ALL TIME*: 18.80%

*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
VEGN US Vegan Climate ETF	$409.42K	$563.09K	$475.96K

DGRO vs. VEGN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DGRO iShares Core Dividend Growth ETF	15.02%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	9.23%
VEGN US Vegan Climate ETF	29.35%	13.71%	25.42%	38.10%	-26.87%	26.01%	27.72%	9.45%

Correlation

The correlation between DGRO and VEGN is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (All Time) Calculated using the full available price history since Sep 10, 2019	0.75

Over the past year, the correlation between DGRO and VEGN has dropped to 0.40 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

DGRO vs. VEGN - Sectors Allocation Comparison

Sectors	DGRO	VEGN
Financial Services	20.4%	13.1%
Healthcare	17.9%	3.9%
Technology	17.3%	63.6%
Consumer Defensive	11.9%	0.0%
Industrials	11.3%	4.8%
Utilities	7.3%	0.1%
Consumer Cyclical	6.5%	1.8%
Energy	4.8%	0.0%
Basic Materials	2.5%	0.5%
Communication Services	0.1%	7.8%
Real Estate	-	3.9%

Return for Risk

DGRO vs. VEGN — 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

VEGN

VEGN Risk / Return Rank: 77
VEGN Sharpe Ratio Rank: 79
VEGN Sortino Ratio Rank: 74
VEGN Omega Ratio Rank: 73
VEGN Calmar Ratio Rank: 83
VEGN Martin Ratio Rank: 77

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. VEGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend Growth ETF (DGRO) and US Vegan Climate ETF (VEGN). 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	VEGN	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.01	+0.59
Sortino ratio: Return per unit of downside risk	3.77	2.69	+1.09
Omega ratio: Gain probability vs. loss probability	1.48	1.34	+0.14
Calmar ratio: Return relative to maximum drawdown	3.83	3.37	+0.46
Martin ratio: Return relative to average drawdown	14.91	11.06	+3.85

DGRO vs. VEGN - Sharpe Ratio Comparison

The current DGRO Sharpe Ratio is 2.60, which is comparable to the VEGN Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of DGRO and VEGN, 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. VEGN - Drawdown Comparison

The maximum DGRO drawdown since its inception was -35.10%, roughly equal to the maximum VEGN drawdown of -34.14%. Use the drawdown chart below to compare losses from any high point for DGRO and VEGN.

Drawdown Indicators

	DGRO	VEGN	Difference
Max Drawdown Largest peak-to-trough decline	-35.10%	-34.14%	-0.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-12.25%	+5.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.03%	-20.91%	+6.88%
Max Drawdown (5Y) Largest decline over 5 years	-19.31%	-33.40%	+14.09%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	—	—
Current Drawdown Current decline from peak	0.00%	-4.62%	+4.62%
Average Drawdown Average peak-to-trough decline	-3.40%	-7.52%	+4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	3.72%	-2.06%

Volatility

DGRO vs. VEGN - Volatility Comparison

The current volatility for iShares Core Dividend Growth ETF (DGRO) is 3.05%, while US Vegan Climate ETF (VEGN) has a volatility of 8.27%. This indicates that DGRO experiences smaller price fluctuations and is considered to be less risky than VEGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRO	VEGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	8.27%	-5.22%
Volatility (6M) Calculated over the trailing 6-month period	7.16%	18.08%	-10.92%
Volatility (1Y) Calculated over the trailing 1-year period	9.58%	20.54%	-10.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.80%	21.04%	-7.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.59%	23.05%	-6.46%

DGRO vs. VEGN - Expense Ratio Comparison

DGRO has a 0.08% expense ratio, which is lower than VEGN's 0.60% expense ratio.

Dividends

DGRO vs. VEGN - Dividend Comparison

DGRO's dividend yield for the trailing twelve months is around 1.87%, more than VEGN's 0.50% 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%
VEGN US Vegan Climate ETF	0.50%	0.51%	0.51%	0.67%	0.81%	0.41%	0.71%	0.29%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGRO and VEGN in my portfolio?

DGRO and VEGN have a correlation of 0.40, 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 VEGN?

VEGN has higher volatility (8.27%) compared to DGRO (3.05%). In terms of maximum drawdown, DGRO dropped -35.10% vs VEGN's -34.14%.

Which ETF is better, DGRO or VEGN?

On 5-year performance, VEGN leads with 14.78% vs 11.29% for DGRO. On fees, DGRO is cheaper at 0.08% 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 VEGN?

Over the 5-year period, VEGN has performed better with a 14.78% return vs 11.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGRO or VEGN?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.60% for VEGN.

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

DGRO has the higher dividend yield at 1.87%, compared with 0.50% for VEGN.

What is the main difference between DGRO and VEGN?

DGRO tracks Morningstar US Dividend Growth Index, while VEGN tracks US Vegan Climate Index. They also come from different issuers: iShares and Beyond Investing. Their fees differ too: 0.08% for DGRO and 0.60% for VEGN.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.60 vs 2.01), 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.