DIVO vs. DGRO

Last updated Jun 3, 2026

DIVO (Amplify CWP Enhanced Dividend Income ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - DIVO is a Derivative Income fund actively managed by Amplify, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. DIVO is actively managed, while DGRO is passively managed. Over the past 5 years, DIVO returned 10.81%/yr vs 10.72%/yr for DGRO. Their correlation of 0.85 suggests significant overlap in exposure. DIVO charges 0.56%/yr vs 0.08%/yr for DGRO.

Performance

DIVO vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP Enhanced Dividend Income ETF (DIVO) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVO achieves a 6.11% return, which is significantly lower than DGRO's 9.06% return.

DIVO

• 1D: 0.48%
• 1M: 1.83%
• YTD: 6.11%
• 6M: 6.82%
• 1Y: 19.19%
• 3Y*: 15.56%
• 5Y*: 10.81%
• 10Y*: —

DGRO

• 1D: 0.83%
• 1M: 2.63%
• YTD: 9.06%
• 6M: 10.08%
• 1Y: 23.65%
• 3Y*: 17.10%
• 5Y*: 10.72%
• 10Y*: 13.33%

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

DIVO vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVO Amplify CWP Enhanced Dividend Income ETF	6.11%	17.40%	16.22%	6.95%	-1.46%	22.87%	12.40%	24.90%	-3.18%	21.41%
DGRO iShares Core Dividend Growth ETF	9.06%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between DIVO and DGRO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 15, 2016	0.85

The correlation between DIVO and DGRO has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

DIVO vs. DGRO - Sectors Allocation Comparison

Sectors	DIVO	DGRO
Financial Services	30.3%	21.2%
Industrials	16.2%	10.8%
Technology	14.5%	19.4%
Consumer Cyclical	11.6%	5.7%
Consumer Defensive	6.9%	11.5%
Energy	6.8%	5.6%
Healthcare	6.7%	16.4%
Basic Materials	4.1%	2.5%
Utilities	2.0%	6.9%
Communication Services	1.0%	0.1%
Real Estate	-	-

Return for Risk

DIVO vs. DGRO — Risk / Return Rank

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

DIVO

DIVO Risk / Return Rank: 66
DIVO Sharpe Ratio Rank: 64
DIVO Sortino Ratio Rank: 69
DIVO Omega Ratio Rank: 62
DIVO Calmar Ratio Rank: 67
DIVO Martin Ratio Rank: 66

DGRO

DGRO Risk / Return Rank: 76
DGRO Sharpe Ratio Rank: 76
DGRO Sortino Ratio Rank: 81
DGRO Omega Ratio Rank: 76
DGRO Calmar Ratio Rank: 73
DGRO Martin Ratio Rank: 74

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.

DIVO vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP Enhanced Dividend Income ETF (DIVO) and iShares Core Dividend Growth ETF (DGRO). 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.

	DIVO	DGRO	Difference
Sharpe ratio Return per unit of total volatility	2.15	2.51	-0.36
Sortino ratio Return per unit of downside risk	3.19	3.64	-0.46
Omega ratio Gain probability vs. loss probability	1.38	1.46	-0.07
Calmar ratio Return relative to maximum drawdown	3.37	3.71	-0.34
Martin ratio Return relative to average drawdown	12.19	14.35	-2.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVO vs. DGRO - Sharpe Ratio Comparison

The current DIVO Sharpe Ratio is 2.15, which is comparable to the DGRO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of DIVO and DGRO, 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

	DIVO	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.51	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.78	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.77	+0.09

Drawdowns

DIVO vs. DGRO - Drawdown Comparison

The maximum DIVO drawdown since its inception was -30.04%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for DIVO and DGRO.

Drawdown Indicators

	DIVO	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-30.04%	-35.10%	+5.06%
Max Drawdown (1Y) Largest decline over 1 year	-5.95%	-6.47%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-12.12%	-14.03%	+1.91%
Max Drawdown (5Y) Largest decline over 5 years	-13.72%	-19.31%	+5.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-0.28%	0.00%	-0.28%
Average Drawdown Average peak-to-trough decline	-2.61%	-3.45%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.67%	-0.03%

Volatility

DIVO vs. DGRO - Volatility Comparison

The current volatility for Amplify CWP Enhanced Dividend Income ETF (DIVO) is 2.23%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.36%. This indicates that DIVO experiences smaller price fluctuations and is considered to be less risky than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVO	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	2.36%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	6.94%	6.96%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	8.97%	9.47%	-0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.93%	13.82%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	16.63%	-1.79%

DIVO vs. DGRO - Expense Ratio Comparison

DIVO has a 0.56% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

DIVO vs. DGRO - Dividend Comparison

DIVO's dividend yield for the trailing twelve months is around 6.38%, more than DGRO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.95%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
DIVO Amplify CWP Enhanced Dividend Income ETF	6.38%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVO and DGRO in my portfolio?

DIVO and DGRO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVO or DGRO?

DGRO has higher volatility (2.36%) compared to DIVO (2.23%). In terms of maximum drawdown, DIVO dropped -30.04% vs DGRO's -35.10%.

Which ETF is better, DIVO or DGRO?

On 5-year performance, DIVO leads with 10.81% vs 10.72% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DIVO has been the lower-risk option at 2.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVO or DGRO?

Over the 5-year period, DIVO has performed better with a 10.81% return vs 10.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVO or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.56% for DIVO.

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

DIVO has the higher dividend yield at 6.38%, compared with 1.95% for DGRO.

What is the main difference between DIVO and DGRO?

DIVO is categorized as Derivative Income, while DGRO is Large Cap Growth Equities. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.56% for DIVO and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.51 vs 2.15), 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.