DGRO vs. VMFXX

Last updated Jun 9, 2026

DGRO (iShares Core Dividend Growth ETF) and VMFXX (Vanguard Federal Money Market Fund) are both funds - DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index, while VMFXX is a Money Market fund managed by Vanguard. Over the past 5 years, DGRO returned 10.64%/yr vs 2.39%/yr for VMFXX. At a 0.07 correlation, their price movements are largely independent. DGRO charges 0.08%/yr vs 0.11%/yr for VMFXX.

Performance

DGRO vs. VMFXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Dividend Growth ETF (DGRO) and Vanguard Federal Money Market Fund (VMFXX). 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 higher than VMFXX's 1.50% 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%

VMFXX

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.95%
• 3Y*: 3.35%
• 5Y*: 2.39%
• 10Y*: —

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

DGRO vs. VMFXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DGRO iShares Core Dividend Growth ETF	8.47%	15.69%	16.62%	10.47%	-7.91%	11.43%
VMFXX Vanguard Federal Money Market Fund	1.50%	4.24%	1.64%	4.64%	0.00%	0.00%

Correlation

The correlation between DGRO and VMFXX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.07

DGRO vs. VMFXX - Sectors Allocation Comparison

Sectors	DGRO	VMFXX
Financial Services	21.2%	17.5%
Technology	19.4%	-
Healthcare	16.4%	-
Consumer Defensive	11.5%	-
Industrials	10.8%	-
Utilities	6.9%	-
Consumer Cyclical	5.7%	-
Energy	5.6%	-
Basic Materials	2.5%	-
Communication Services	0.1%	-
Real Estate	-	-

Return for Risk

DGRO vs. VMFXX — 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

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. VMFXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend Growth ETF (DGRO) and Vanguard Federal Money Market Fund (VMFXX). 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	VMFXX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	3.67	-1.36
Sortino ratio: Return per unit of downside risk	3.37	—	—
Omega ratio: Gain probability vs. loss probability	1.42	—	—
Calmar ratio: Return relative to maximum drawdown	3.40	—	—
Martin ratio: Return relative to average drawdown	13.12	—	—
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. VMFXX - Sharpe Ratio Comparison

The current DGRO Sharpe Ratio is 2.32, which is lower than the VMFXX Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of DGRO and VMFXX, 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	VMFXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	3.67	-1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	2.60	-1.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	2.59	-1.83

Drawdowns

DGRO vs. VMFXX - Drawdown Comparison

The maximum DGRO drawdown since its inception was -35.10%, which is greater than VMFXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for DGRO and VMFXX.

Drawdown Indicators

	DGRO	VMFXX	Difference
Max Drawdown Largest peak-to-trough decline	-35.10%	0.00%	-35.10%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	0.00%	-6.47%
Max Drawdown (3Y) Largest decline over 3 years	-14.03%	0.00%	-14.03%
Max Drawdown (5Y) Largest decline over 5 years	-19.31%	0.00%	-19.31%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	—	—
Current Drawdown Current decline from peak	-1.07%	0.00%	-1.07%
Average Drawdown Average peak-to-trough decline	-3.44%	0.00%	-3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	0.00%	+1.67%

Volatility

DGRO vs. VMFXX - Volatility Comparison

iShares Core Dividend Growth ETF (DGRO) has a higher volatility of 2.32% compared to Vanguard Federal Money Market Fund (VMFXX) at 0.30%. This indicates that DGRO's price experiences larger fluctuations and is considered to be riskier than VMFXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGRO	VMFXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	0.30%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	6.95%	0.79%	+6.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.52%	1.12%	+8.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.82%	0.94%	+12.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	0.94%	+15.69%

DGRO vs. VMFXX - Expense Ratio Comparison

DGRO has a 0.08% expense ratio, which is lower than VMFXX's 0.11% 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. VMFXX - Dividend Comparison

DGRO's dividend yield for the trailing twelve months is around 1.96%, less than VMFXX's 3.87% 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%
VMFXX Vanguard Federal Money Market Fund	3.87%	4.14%	1.63%	4.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGRO and VMFXX in my portfolio?

DGRO and VMFXX have a correlation of 0.07, 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 VMFXX?

DGRO has higher volatility (2.32%) compared to VMFXX (0.30%). In terms of maximum drawdown, DGRO dropped -35.10% vs VMFXX's 0.00%.

Which has better risk-adjusted returns?

VMFXX currently has the higher Sharpe Ratio (3.67 vs 2.32), 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.