DGRO vs. VGPMX

Last updated Jun 13, 2026

DGRO (iShares Core Dividend Growth ETF) and VGPMX (Vanguard Global Capital Cycles Fund) are both funds - DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index, while VGPMX is a Global Equities fund managed by Vanguard. Over the past 10 years, DGRO returned 13.52%/yr vs 10.81%/yr for VGPMX. At a 0.49 correlation, their price movements are largely independent. DGRO charges 0.08%/yr vs 0.36%/yr for VGPMX.

Performance

DGRO vs. VGPMX - Performance Comparison

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

Returns By Period

In the year-to-date period, DGRO achieves a 9.86% return, which is significantly lower than VGPMX's 15.44% return. Over the past 10 years, DGRO has outperformed VGPMX with an annualized return of 13.52%, while VGPMX has yielded a comparatively lower 10.81% annualized return.

DGRO

• 1D: 0.69%
• 1M: 3.74%
• YTD: 9.86%
• 6M: 9.27%
• 1Y: 22.26%
• 3Y*: 16.74%
• 5Y*: 10.82%
• 10Y*: 13.52%

VGPMX

• 1D: 2.65%
• 1M: -3.44%
• YTD: 15.44%
• 6M: 19.37%
• 1Y: 53.94%
• 3Y*: 29.26%
• 5Y*: 19.29%
• 10Y*: 10.81%

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

DGRO vs. VGPMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGRO iShares Core Dividend Growth ETF	9.86%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%
VGPMX Vanguard Global Capital Cycles Fund	15.44%	65.96%	5.78%	10.06%	7.34%	19.50%	17.21%	20.67%	-32.26%	13.75%

Correlation

The correlation between DGRO and VGPMX is 0.59, 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	0.59
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	0.56
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.49

The correlation between DGRO and VGPMX shifts across timeframes, from 0.49 (all time) to 0.66 (5 years), reflecting how their relationship changes across market environments.

DGRO vs. VGPMX - Sectors Allocation Comparison

Sectors	DGRO	VGPMX
Financial Services	21.2%	5.7%
Technology	19.4%	9.5%
Healthcare	16.4%	11.9%
Consumer Defensive	11.5%	9.4%
Industrials	10.8%	2.6%
Utilities	6.9%	4.7%
Consumer Cyclical	5.7%	5.1%
Energy	5.6%	4.4%
Basic Materials	2.5%	38.0%
Communication Services	0.1%	6.5%
Real Estate	-	2.2%

Return for Risk

DGRO vs. VGPMX — Risk / Return Rank

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

DGRO

DGRO Risk / Return Rank: 82
DGRO Sharpe Ratio Rank: 84
DGRO Sortino Ratio Rank: 87
DGRO Omega Ratio Rank: 82
DGRO Calmar Ratio Rank: 77
DGRO Martin Ratio Rank: 79

VGPMX

VGPMX Risk / Return Rank: 92
VGPMX Sharpe Ratio Rank: 97
VGPMX Sortino Ratio Rank: 88
VGPMX Omega Ratio Rank: 88
VGPMX Calmar Ratio Rank: 93
VGPMX Martin Ratio Rank: 94

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. VGPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend Growth ETF (DGRO) and Vanguard Global Capital Cycles Fund (VGPMX). 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	VGPMX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	3.14	-0.80
Sortino ratio: Return per unit of downside risk	3.40	3.81	-0.42
Omega ratio: Gain probability vs. loss probability	1.42	1.54	-0.12
Calmar ratio: Return relative to maximum drawdown	3.46	4.32	-0.86
Martin ratio: Return relative to average drawdown	13.36	17.40	-4.03

DGRO vs. VGPMX - Sharpe Ratio Comparison

The current DGRO Sharpe Ratio is 2.34, which is comparable to the VGPMX Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of DGRO and VGPMX, 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. VGPMX - Drawdown Comparison

The maximum DGRO drawdown since its inception was -35.10%, smaller than the maximum VGPMX drawdown of -78.85%. Use the drawdown chart below to compare losses from any high point for DGRO and VGPMX.

Drawdown Indicators

	DGRO	VGPMX	Difference
Max Drawdown Largest peak-to-trough decline	-35.10%	-78.85%	+43.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-12.80%	+6.33%
Max Drawdown (3Y) Largest decline over 3 years	-14.03%	-14.63%	+0.60%
Max Drawdown (5Y) Largest decline over 5 years	-19.31%	-22.71%	+3.40%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	-54.59%	+19.49%
Current Drawdown Current decline from peak	0.00%	-4.71%	+4.71%
Average Drawdown Average peak-to-trough decline	-3.44%	-34.53%	+31.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	3.17%	-1.49%

Volatility

DGRO vs. VGPMX - Volatility Comparison

The current volatility for iShares Core Dividend Growth ETF (DGRO) is 2.64%, while Vanguard Global Capital Cycles Fund (VGPMX) has a volatility of 7.38%. This indicates that DGRO experiences smaller price fluctuations and is considered to be less risky than VGPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRO	VGPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	7.38%	-4.74%
Volatility (6M) Calculated over the trailing 6-month period	6.96%	14.90%	-7.94%
Volatility (1Y) Calculated over the trailing 1-year period	9.59%	17.61%	-8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.83%	17.54%	-3.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	20.91%	-4.29%

DGRO vs. VGPMX - Expense Ratio Comparison

DGRO has a 0.08% expense ratio, which is lower than VGPMX's 0.36% expense ratio.

Dividends

DGRO vs. VGPMX - Dividend Comparison

DGRO's dividend yield for the trailing twelve months is around 1.94%, less than VGPMX's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.94%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
VGPMX Vanguard Global Capital Cycles Fund	3.38%	2.59%	2.68%	3.22%	3.27%	3.26%	2.03%	2.39%	3.02%	0.02%	1.72%	2.32%

Frequently Asked Questions

Can I hold both DGRO and VGPMX in my portfolio?

DGRO and VGPMX have a correlation of 0.59, 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 VGPMX?

VGPMX has higher volatility (7.38%) compared to DGRO (2.64%). In terms of maximum drawdown, DGRO dropped -35.10% vs VGPMX's -78.85%.

Which has better risk-adjusted returns?

VGPMX currently has the higher Sharpe Ratio (3.14 vs 2.34), 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.