FDV vs. DGRO

Last updated Jun 4, 2026

FDV (Federated Hermes U.S. Strategic Dividend ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - FDV is a Large Cap Value Equities fund actively managed by Federated, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. FDV is actively managed, while DGRO is passively managed. Over the past 3 years, FDV returned 14.78%/yr vs 16.99%/yr for DGRO. Their correlation of 0.84 suggests significant overlap in exposure. FDV charges 0.50%/yr vs 0.08%/yr for DGRO.

Performance

FDV vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes U.S. Strategic Dividend ETF (FDV) 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, FDV achieves a 11.72% return, which is significantly higher than DGRO's 8.76% return.

FDV

• 1D: 0.00%
• 1M: 1.90%
• YTD: 11.72%
• 6M: 11.46%
• 1Y: 19.71%
• 3Y*: 14.78%
• 5Y*: —
• 10Y*: —

DGRO

• 1D: -0.28%
• 1M: 3.14%
• YTD: 8.76%
• 6M: 8.75%
• 1Y: 22.54%
• 3Y*: 16.99%
• 5Y*: 10.54%
• 10Y*: 13.30%

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

FDV vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FDV Federated Hermes U.S. Strategic Dividend ETF	11.72%	11.01%	14.41%	-2.16%	1.92%
DGRO iShares Core Dividend Growth ETF	8.76%	15.69%	16.62%	10.47%	-0.24%

Correlation

The correlation between FDV and DGRO is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 17, 2022	0.84

The correlation between FDV and DGRO has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

FDV vs. DGRO - Sectors Allocation Comparison

Sectors	FDV	DGRO
Utilities	16.9%	6.9%
Financial Services	16.6%	21.2%
Healthcare	12.6%	16.4%
Consumer Defensive	11.8%	11.5%
Technology	10.9%	19.4%
Energy	9.7%	5.6%
Real Estate	9.0%	-
Consumer Cyclical	5.1%	5.7%
Industrials	3.8%	10.8%
Communication Services	2.0%	0.1%
Basic Materials	1.6%	2.5%

Return for Risk

FDV vs. DGRO — Risk / Return Rank

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

FDV

FDV Risk / Return Rank: 63
FDV Sharpe Ratio Rank: 58
FDV Sortino Ratio Rank: 64
FDV Omega Ratio Rank: 55
FDV Calmar Ratio Rank: 74
FDV Martin Ratio Rank: 65

DGRO

DGRO Risk / Return Rank: 71
DGRO Sharpe Ratio Rank: 71
DGRO Sortino Ratio Rank: 76
DGRO Omega Ratio Rank: 70
DGRO Calmar Ratio Rank: 69
DGRO Martin Ratio Rank: 71

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.

FDV vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes U.S. Strategic Dividend ETF (FDV) 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.

	FDV	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.39	-0.38
Sortino ratio: Return per unit of downside risk	3.02	3.49	-0.46
Omega ratio: Gain probability vs. loss probability	1.35	1.43	-0.09
Calmar ratio: Return relative to maximum drawdown	3.78	3.50	+0.28
Martin ratio: Return relative to average drawdown	12.05	13.52	-1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDV vs. DGRO - Sharpe Ratio Comparison

The current FDV Sharpe Ratio is 2.01, which is comparable to the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of FDV 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

	FDV	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.01	2.39	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.76	+0.06

Drawdowns

FDV vs. DGRO - Drawdown Comparison

The maximum FDV drawdown since its inception was -16.70%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for FDV and DGRO.

Drawdown Indicators

	FDV	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-16.70%	-35.10%	+18.40%
Max Drawdown (1Y) Largest decline over 1 year	-5.70%	-6.47%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-12.55%	-14.03%	+1.48%
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	-0.39%	-0.28%	-0.11%
Average Drawdown Average peak-to-trough decline	-3.93%	-3.44%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.67%	+0.12%

Volatility

FDV vs. DGRO - Volatility Comparison

Federated Hermes U.S. Strategic Dividend ETF (FDV) has a higher volatility of 2.82% compared to iShares Core Dividend Growth ETF (DGRO) at 2.21%. This indicates that FDV'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

	FDV	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	2.21%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	6.82%	6.91%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.74%	9.48%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	13.82%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.65%	16.62%	-3.97%

FDV vs. DGRO - Expense Ratio Comparison

FDV has a 0.50% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

FDV vs. DGRO - Dividend Comparison

FDV's dividend yield for the trailing twelve months is around 2.56%, more than DGRO's 1.96% 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%
FDV Federated Hermes U.S. Strategic Dividend ETF	2.56%	3.11%	3.12%	3.54%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDV and DGRO in my portfolio?

FDV and DGRO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDV or DGRO?

FDV has higher volatility (2.82%) compared to DGRO (2.21%). In terms of maximum drawdown, FDV dropped -16.70% vs DGRO's -35.10%.

Which ETF is better, FDV or DGRO?

On 3-year performance, DGRO leads with 16.99% vs 14.78% for FDV. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDV or DGRO?

Over the 3-year period, DGRO has performed better with a 16.99% return vs 14.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDV or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.50% for FDV.

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

FDV has the higher dividend yield at 2.56%, compared with 1.96% for DGRO.

What is the main difference between FDV and DGRO?

FDV is categorized as Large Cap Value Equities, while DGRO is Large Cap Growth Equities. They also come from different issuers: Federated and iShares. Their fees differ too: 0.50% for FDV and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 2.01), 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.