DVQQ vs. DGRO

Last updated Jul 11, 2026

DVQQ (WEBs QQQ Defined Volatility ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds - DVQQ tracks the Syntax Defined Volatility Triple Qs Index while DGRO tracks the Morningstar US Dividend Growth Index. Both are passively managed. Over the past year, DVQQ returned 32.28% vs 21.63% for DGRO. At a 0.49 correlation, their price movements are largely independent. DVQQ charges 0.94%/yr vs 0.08%/yr for DGRO.

Performance

DVQQ vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs QQQ Defined Volatility ETF (DVQQ) 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, DVQQ achieves a 15.66% return, which is significantly higher than DGRO's 12.23% return.

DVQQ

• 1D: 0.24%
• 1M: 0.54%
• 6M: 11.92%
• YTD: 15.66%
• 1Y: 32.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DGRO

• 1D: 0.19%
• 1M: 2.16%
• 6M: 9.63%
• YTD: 12.23%
• 1Y: 21.63%
• 3Y*: 16.92%
• 5Y*: 11.06%
• 10Y*: 13.26%

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

DVQQ vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DVQQ WEBs QQQ Defined Volatility ETF	15.66%	18.03%	-7.84%
DGRO iShares Core Dividend Growth ETF	12.23%	15.69%	-2.41%

Correlation

The correlation between DVQQ and DGRO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Dec 17, 2024	0.49

Return for Risk

DVQQ vs. DGRO — Risk / Return Rank

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

DVQQ

DVQQ Risk / Return Rank: 45
DVQQ Sharpe Ratio Rank: 48
DVQQ Sortino Ratio Rank: 43
DVQQ Omega Ratio Rank: 45
DVQQ Calmar Ratio Rank: 44
DVQQ Martin Ratio Rank: 43

DGRO

DGRO Risk / Return Rank: 86
DGRO Sharpe Ratio Rank: 88
DGRO Sortino Ratio Rank: 90
DGRO Omega Ratio Rank: 87
DGRO Calmar Ratio Rank: 80
DGRO Martin Ratio Rank: 83

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.

DVQQ vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs QQQ Defined Volatility ETF (DVQQ) 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.

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.

	DVQQ	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.29	-0.96
Sortino ratio: Return per unit of downside risk	1.77	3.33	-1.56
Omega ratio: Gain probability vs. loss probability	1.24	1.42	-0.18
Calmar ratio: Return relative to maximum drawdown	1.78	3.36	-1.58
Martin ratio: Return relative to average drawdown	5.56	12.98	-7.42

DVQQ vs. DGRO - Sharpe Ratio Comparison

The current DVQQ Sharpe Ratio is 1.33, which is lower than the DGRO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of DVQQ 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.

Drawdowns

DVQQ vs. DGRO - Drawdown Comparison

The maximum DVQQ drawdown since its inception was -25.28%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for DVQQ and DGRO.

Drawdown Indicators

	DVQQ	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	-35.10%	+9.82%
Max Drawdown (1Y) Largest decline over 1 year	-17.89%	-6.47%	-11.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-5.07%	-0.50%	-4.57%
Average Drawdown Average peak-to-trough decline	-7.13%	-3.42%	-3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.71%	1.67%	+4.04%

Volatility

DVQQ vs. DGRO - Volatility Comparison

WEBs QQQ Defined Volatility ETF (DVQQ) has a higher volatility of 6.53% compared to iShares Core Dividend Growth ETF (DGRO) at 2.52%. This indicates that DVQQ's price experiences larger fluctuations and is considered to be riskier than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVQQ	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.53%	2.52%	+4.01%
Volatility (6M) Calculated over the trailing 6-month period	17.94%	6.94%	+11.00%
Volatility (1Y) Calculated over the trailing 1-year period	23.91%	9.50%	+14.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.73%	13.79%	+10.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.73%	16.57%	+8.16%

DVQQ vs. DGRO - Expense Ratio Comparison

DVQQ has a 0.94% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

DVQQ vs. DGRO - Dividend Comparison

DVQQ's dividend yield for the trailing twelve months is around 0.03%, less than DGRO's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.91%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
DVQQ WEBs QQQ Defined Volatility ETF	0.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVQQ and DGRO in my portfolio?

DVQQ and DGRO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVQQ or DGRO?

DVQQ has higher volatility (6.53%) compared to DGRO (2.52%). In terms of maximum drawdown, DVQQ dropped -25.28% vs DGRO's -35.10%.

Which ETF is better, DVQQ or DGRO?

On 1-year performance, DVQQ leads with 32.28% vs 21.63% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVQQ or DGRO?

Over the 1-year period, DVQQ has performed better with a 32.28% return vs 21.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVQQ or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.94% for DVQQ.

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

DGRO has the higher dividend yield at 1.91%, compared with 0.03% for DVQQ.

What is the main difference between DVQQ and DGRO?

DVQQ tracks Syntax Defined Volatility Triple Qs Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: WEBs and iShares. Their fees differ too: 0.94% for DVQQ and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.29 vs 1.33), 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.