ECNS vs. DGRO

Last updated Aug 4, 2026

ECNS (iShares MSCI China Small-Cap ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - ECNS is a China Equities fund tracking the MSCI China Small Cap Index, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 10 years, ECNS returned 0.89%/yr vs 13.38%/yr for DGRO. Their 0.39 correlation means their historical movements had little consistent relationship. ECNS charges 0.59%/yr vs 0.08%/yr for DGRO.

Performance

ECNS vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Small-Cap ETF (ECNS) 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, ECNS achieves a -10.84% return, which is significantly lower than DGRO's 13.79% return. Over the past 10 years, ECNS has underperformed DGRO with an annualized return of 0.89%, while DGRO has yielded a comparatively higher 13.38% annualized return.

ECNS

• 1D: -0.28%
• 1M: 1.48%
• 6M: -15.13%
• YTD: -10.84%
• 1Y: -10.63%
• 3Y*: 3.54%
• 5Y*: -7.01%
• 10Y*: 0.89%
• ALL TIME*: 0.21%

DGRO

• 1D: 0.35%
• 1M: 1.32%
• 6M: 9.21%
• YTD: 13.79%
• 1Y: 24.64%
• 3Y*: 17.09%
• 5Y*: 11.15%
• 10Y*: 13.38%
• ALL TIME*: 12.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DGRO iShares Core Dividend Growth ETF	$107.57M	$103.25M	$110.55M
ECNS iShares MSCI China Small-Cap ETF	$217.02K	$210.44K	$354.53K

ECNS vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ECNS iShares MSCI China Small-Cap ETF	-10.84%	36.49%	5.64%	-23.05%	-24.58%	2.11%	25.42%	7.84%	-18.27%	27.55%
DGRO iShares Core Dividend Growth ETF	13.79%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between ECNS and DGRO is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (3Y) Balances recent behavior with more history.	0.29
Correlation (5Y) Shows whether the relationship held over a longer period.	0.33
Correlation (10Y) Provides a long-term view across more market conditions.	0.38
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.39

The correlation between ECNS and DGRO shifts across timeframes, from 0.24 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.

ECNS vs. DGRO - Sectors Allocation Comparison

Sectors	ECNS	DGRO
Healthcare	21.2%	17.9%
Industrials	20.1%	11.3%
Technology	10.7%	17.3%
Basic Materials	9.2%	2.5%
Communication Services	8.7%	0.1%
Consumer Cyclical	8.4%	6.5%
Real Estate	8.0%	-
Consumer Defensive	5.3%	11.9%
Financial Services	4.4%	20.4%
Utilities	2.3%	7.3%
Energy	1.8%	4.8%

Return for Risk

ECNS vs. DGRO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ECNS

ECNS Risk / Return Rank: 5
ECNS Sharpe Ratio Rank: 5
ECNS Sortino Ratio Rank: 5
ECNS Omega Ratio Rank: 5
ECNS Calmar Ratio Rank: 6
ECNS Martin Ratio Rank: 6

DGRO

DGRO Risk / Return Rank: 92
DGRO Sharpe Ratio Rank: 94
DGRO Sortino Ratio Rank: 94
DGRO Omega Ratio Rank: 93
DGRO Calmar Ratio Rank: 90
DGRO Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ECNS vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) 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.

	ECNS	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	2.60	-3.11
Sortino ratio: Return per unit of downside risk	-0.57	3.77	-4.35
Omega ratio: Gain probability vs. loss probability	0.93	1.48	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.41	3.83	-4.24
Martin ratio: Return relative to average drawdown	-0.82	14.91	-15.73

ECNS vs. DGRO - Sharpe Ratio Comparison

The current ECNS Sharpe Ratio is -0.51, which is lower than the DGRO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of ECNS 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

ECNS vs. DGRO - Drawdown Comparison

The maximum ECNS drawdown since its inception was -63.43%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ECNS and DGRO.

Drawdown Indicators

	ECNS	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-63.43%	-35.10%	-28.33%
Max Drawdown (1Y) Largest decline over 1 year	-25.73%	-6.47%	-19.26%
Max Drawdown (3Y) Largest decline over 3 years	-29.29%	-14.03%	-15.26%
Max Drawdown (5Y) Largest decline over 5 years	-57.31%	-19.31%	-38.00%
Max Drawdown (10Y) Largest decline over 10 years	-63.43%	-35.10%	-28.33%
Current Drawdown Current decline from peak	-42.60%	-1.01%	-41.59%
Average Drawdown Average peak-to-trough decline	-29.51%	-3.41%	-26.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.01%	1.66%	+11.35%

Volatility

ECNS vs. DGRO - Volatility Comparison

iShares MSCI China Small-Cap ETF (ECNS) has a higher volatility of 6.37% compared to iShares Core Dividend Growth ETF (DGRO) at 2.88%. This indicates that ECNS'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

	ECNS	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.37%	2.88%	+3.49%
Volatility (6M) Calculated over the trailing 6-month period	14.27%	7.12%	+7.15%
Volatility (1Y) Calculated over the trailing 1-year period	20.87%	9.54%	+11.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.09%	13.79%	+15.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.82%	16.58%	+9.24%

ECNS vs. DGRO - Expense Ratio Comparison

ECNS has a 0.59% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

ECNS vs. DGRO - Dividend Comparison

ECNS's dividend yield for the trailing twelve months is around 6.60%, more than DGRO's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.89%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
ECNS iShares MSCI China Small-Cap ETF	6.60%	6.20%	5.98%	4.89%	3.54%	4.87%	3.59%	3.23%	6.16%	3.18%	4.29%	3.58%

Frequently Asked Questions

Can I hold both ECNS and DGRO in my portfolio?

ECNS and DGRO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECNS or DGRO?

ECNS has higher volatility (6.37%) compared to DGRO (2.88%). In terms of maximum drawdown, ECNS dropped -63.43% vs DGRO's -35.10%.

Which ETF is better, ECNS or DGRO?

On 10-year performance, DGRO leads with 13.38% vs 0.89% for ECNS. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECNS or DGRO?

Over the 10-year period, DGRO has performed better with a 13.38% return vs 0.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECNS or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.59% for ECNS.

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

ECNS has the higher dividend yield at 6.60%, compared with 1.89% for DGRO.

What is the main difference between ECNS and DGRO?

ECNS is categorized as China Equities, while DGRO is Large Cap Growth Equities. ECNS tracks MSCI China Small Cap Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.59% for ECNS and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.60 vs -0.51), 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.