DGRO vs. VEU

Last updated Jun 9, 2026

DGRO (iShares Core Dividend Growth ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both exchange-traded funds - DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index, while VEU is a Foreign Large Cap Equities fund tracking the FTSE All-World ex US Index. Both are passively managed. Over the past 10 years, DGRO returned 13.26%/yr vs 9.86%/yr for VEU. A 0.75 correlation means they provide meaningful diversification when combined. DGRO charges 0.08%/yr vs 0.04%/yr for VEU.

Performance

DGRO vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Dividend Growth ETF (DGRO) and Vanguard FTSE All-World ex-US ETF (VEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGRO achieves a 8.47% return, which is significantly lower than VEU's 11.45% return. Over the past 10 years, DGRO has outperformed VEU with an annualized return of 13.26%, while VEU has yielded a comparatively lower 9.86% annualized return.

DGRO

• 1D: -0.29%
• 1M: 2.67%
• YTD: 8.47%
• 6M: 9.27%
• 1Y: 21.90%
• 3Y*: 16.63%
• 5Y*: 10.64%
• 10Y*: 13.26%

VEU

• 1D: 0.90%
• 1M: -1.72%
• YTD: 11.45%
• 6M: 13.84%
• 1Y: 27.37%
• 3Y*: 18.27%
• 5Y*: 8.16%
• 10Y*: 9.86%

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

DGRO vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGRO iShares Core Dividend Growth ETF	8.47%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%
VEU Vanguard FTSE All-World ex-US ETF	11.45%	32.35%	5.56%	15.84%	-15.58%	8.27%	11.10%	21.83%	-14.18%	27.40%

Correlation

The correlation between DGRO and VEU is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.75

The correlation between DGRO and VEU shifts across timeframes, from 0.65 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

DGRO vs. VEU - Sectors Allocation Comparison

Sectors	DGRO	VEU
Financial Services	21.2%	23.3%
Technology	19.4%	18.5%
Healthcare	16.4%	7.1%
Consumer Defensive	11.5%	5.1%
Industrials	10.8%	15.7%
Utilities	6.9%	3.2%
Consumer Cyclical	5.7%	8.2%
Energy	5.6%	5.2%
Basic Materials	2.5%	7.1%
Communication Services	0.1%	4.6%
Real Estate	-	2.0%

Return for Risk

DGRO vs. VEU — Risk / Return Rank

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

DGRO

DGRO Risk / Return Rank: 78
DGRO Sharpe Ratio Rank: 80
DGRO Sortino Ratio Rank: 84
DGRO Omega Ratio Rank: 78
DGRO Calmar Ratio Rank: 74
DGRO Martin Ratio Rank: 76

VEU

VEU Risk / Return Rank: 56
VEU Sharpe Ratio Rank: 57
VEU Sortino Ratio Rank: 55
VEU Omega Ratio Rank: 58
VEU Calmar Ratio Rank: 54
VEU Martin Ratio Rank: 58

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. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend Growth ETF (DGRO) and Vanguard FTSE All-World ex-US ETF (VEU). 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.

	DGRO	VEU	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.74	+0.57
Sortino ratio: Return per unit of downside risk	3.37	2.39	+0.98
Omega ratio: Gain probability vs. loss probability	1.42	1.32	+0.10
Calmar ratio: Return relative to maximum drawdown	3.40	2.41	+0.99
Martin ratio: Return relative to average drawdown	13.12	9.28	+3.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGRO vs. VEU - Sharpe Ratio Comparison

The current DGRO Sharpe Ratio is 2.32, which is higher than the VEU Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of DGRO and VEU, 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

	DGRO	VEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.74	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.51	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.57	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.25	+0.52

Drawdowns

DGRO vs. VEU - Drawdown Comparison

The maximum DGRO drawdown since its inception was -35.10%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for DGRO and VEU.

Drawdown Indicators

	DGRO	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-35.10%	-61.52%	+26.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-11.43%	+4.96%
Max Drawdown (3Y) Largest decline over 3 years	-14.03%	-13.69%	-0.34%
Max Drawdown (5Y) Largest decline over 5 years	-19.31%	-29.31%	+10.00%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	-34.98%	-0.12%
Current Drawdown Current decline from peak	-1.07%	-3.69%	+2.62%
Average Drawdown Average peak-to-trough decline	-3.44%	-13.13%	+9.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	2.96%	-1.29%

Volatility

DGRO vs. VEU - Volatility Comparison

The current volatility for iShares Core Dividend Growth ETF (DGRO) is 2.32%, while Vanguard FTSE All-World ex-US ETF (VEU) has a volatility of 6.07%. This indicates that DGRO experiences smaller price fluctuations and is considered to be less risky than VEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRO	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	6.07%	-3.75%
Volatility (6M) Calculated over the trailing 6-month period	6.95%	13.65%	-6.70%
Volatility (1Y) Calculated over the trailing 1-year period	9.52%	15.80%	-6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.82%	16.16%	-2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	17.25%	-0.62%

DGRO vs. VEU - Expense Ratio Comparison

DGRO has a 0.08% expense ratio, which is higher than VEU'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. VEU - Dividend Comparison

DGRO's dividend yield for the trailing twelve months is around 1.96%, less than VEU's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VEU Vanguard FTSE All-World ex-US ETF	2.68%	3.09%	3.24%	3.32%	3.12%	3.08%	2.00%	3.10%	3.27%	2.66%	2.96%	2.95%

Frequently Asked Questions

Can I hold both DGRO and VEU in my portfolio?

DGRO and VEU have a correlation of 0.65, 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 VEU?

VEU has higher volatility (6.07%) compared to DGRO (2.32%). In terms of maximum drawdown, DGRO dropped -35.10% vs VEU's -61.52%.

Which ETF is better, DGRO or VEU?

On 10-year performance, DGRO leads with 13.26% vs 9.86% for VEU. On fees, VEU is cheaper at 0.04% per year. On volatility, DGRO has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGRO or VEU?

Over the 10-year period, DGRO has performed better with a 13.26% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGRO or VEU?

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

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

VEU has the higher dividend yield at 2.68%, compared with 1.96% for DGRO.

What is the main difference between DGRO and VEU?

DGRO is categorized as Large Cap Growth Equities, while VEU is Foreign Large Cap Equities. DGRO tracks Morningstar US Dividend Growth Index, while VEU tracks FTSE All-World ex US Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.08% for DGRO and 0.04% for VEU.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.32 vs 1.74), 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.