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FDVV vs. DGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDVV vs. DGRO

Last updated Aug 6, 2026
Documentation

FDVV (Fidelity High Dividend ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 5 years, FDVV returned 14.54%/yr vs 11.25%/yr for DGRO. Their correlation of 0.91 means they have usually moved in the same direction. FDVV charges 0.29%/yr vs 0.08%/yr for DGRO.

Performance

FDVV vs. DGRO - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with FDVV having a 14.74% return and DGRO slightly higher at 15.18%.

FDVV

1D
0.03%
1M
3.96%
6M
10.36%
YTD
14.74%
1Y
23.27%
3Y*
20.08%
5Y*
14.54%
10Y*
—
ALL TIME*
13.95%

DGRO

1D
0.14%
1M
2.55%
6M
9.44%
YTD
15.18%
1Y
25.02%
3Y*
17.57%
5Y*
11.25%
10Y*
13.52%
ALL TIME*
12.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DGRO

iShares Core Dividend Growth ETF
$109.45M$102.77M$110.18M

FDVV

Fidelity High Dividend ETF
$53.45M$50.07M$46.63M

FDVV vs. DGRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FDVV
Fidelity High Dividend ETF		14.74%17.08%21.81%18.00%-4.21%29.24%2.80%24.07%-1.26%14.00%
DGRO
iShares Core Dividend Growth ETF		15.18%15.69%16.62%10.47%-7.91%26.64%9.50%29.87%-2.38%23.00%

Correlation

The correlation between FDVV and DGRO is 0.84, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.84

Correlation (3Y)
Balances recent behavior with more history.

0.89

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.91

Correlation (All Time)
Calculated using the full available price history since Sep 15, 2016

0.91

The correlation between FDVV and DGRO has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

FDVV vs. DGRO - Sectors Allocation Comparison

Sectors
FDVV
DGRO

Technology

28.1%
17.3%

Financial Services

18.5%
20.4%

Consumer Cyclical

13.4%
6.5%

Consumer Defensive

11.0%
11.9%

Real Estate

10.0%

-

Utilities

9.1%
7.3%

Communication Services

3.4%
0.1%

Healthcare

3.3%
17.9%

Industrials

3.2%
11.3%

Basic Materials

-

2.5%

Energy

-

4.8%

Technology

FDVV
28.1%
DGRO
17.3%

Financial Services

FDVV
18.5%
DGRO
20.4%

Consumer Cyclical

FDVV
13.4%
DGRO
6.5%

Consumer Defensive

FDVV
11.0%
DGRO
11.9%

Real Estate

FDVV
10.0%
DGRO

-

Utilities

FDVV
9.1%
DGRO
7.3%

Communication Services

FDVV
3.4%
DGRO
0.1%

Healthcare

FDVV
3.3%
DGRO
17.9%

Industrials

FDVV
3.2%
DGRO
11.3%

Basic Materials

FDVV

-

DGRO
2.5%

Energy

FDVV

-

DGRO
4.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity High Dividend ETF

iShares Core Dividend Growth ETF

Often compared with FDVV:
FDVV vs. SCHDFDVV vs. VYMFDVV vs. VOOFDVV vs. SPYDFDVV vs. FDRRFDVV vs. DESFDVV vs. FGRIX
Often compared with DGRO:
DGRO vs. SCHDDGRO vs. VIGDGRO vs. VYMDGRO vs. VOODGRO vs. DGRWDGRO vs. DIVODGRO vs. HDV

Return for Risk

FDVV vs. DGRO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FDVV
FDVV Risk / Return Rank: 7979
Overall Rank
FDVV Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
FDVV Sortino Ratio Rank: 8686
Sortino Ratio Rank
FDVV Omega Ratio Rank: 8686
Omega Ratio Rank
FDVV Calmar Ratio Rank: 6363
Calmar Ratio Rank
FDVV Martin Ratio Rank: 7373
Martin Ratio Rank
DGRO
DGRO Risk / Return Rank: 9191
Overall Rank
DGRO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
DGRO Sortino Ratio Rank: 9393
Sortino Ratio Rank
DGRO Omega Ratio Rank: 9292
Omega Ratio Rank
DGRO Calmar Ratio Rank: 8888
Calmar Ratio Rank
DGRO Martin Ratio Rank: 8989
Martin Ratio Rank
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.

FDVV vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) 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.

FDVVDGRODifference
Sharpe ratioReturn per unit of total volatility
2.26
2.64

-0.38

Sortino ratioReturn per unit of downside risk
3.13
3.83

-0.70

Omega ratioGain probability vs. loss probability

1.41

1.49

-0.07

Calmar ratioReturn relative to maximum drawdown

2.51

3.88

-1.37

Martin ratioReturn relative to average drawdown

10.35

15.14

-4.79

FDVV vs. DGRO - Sharpe Ratio Comparison

The current FDVV Sharpe Ratio is 2.26, which is comparable to the DGRO Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FDVV 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.

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Drawdowns

FDVV vs. DGRO - Drawdown Comparison

The maximum FDVV drawdown since its inception was -40.25%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for FDVV and DGRO.

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Drawdown Indicators

FDVVDGRODifference

Max Drawdown

Largest peak-to-trough decline

-40.25%

-35.10%

-5.15%

Max Drawdown (1Y)

Largest decline over 1 year

-9.30%

-6.47%

-2.83%

Max Drawdown (3Y)

Largest decline over 3 years

-15.90%

-14.03%

-1.87%

Max Drawdown (5Y)

Largest decline over 5 years

-20.18%

-19.31%

-0.87%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.10%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.75%

-3.40%

-0.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

1.66%

+0.59%

Volatility

FDVV vs. DGRO - Volatility Comparison

Fidelity High Dividend ETF (FDVV) has a higher volatility of 3.26% compared to iShares Core Dividend Growth ETF (DGRO) at 3.03%. This indicates that FDVV'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.

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Volatility by Period

FDVVDGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.26%

3.03%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

8.49%

7.16%

+1.33%

Volatility (1Y)

Calculated over the trailing 1-year period

10.36%

9.52%

+0.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.69%

13.80%

+0.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.91%

16.58%

+0.33%

FDVV vs. DGRO - Expense Ratio Comparison

FDVV has a 0.29% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

FDVV vs. DGRO - Dividend Comparison

FDVV's dividend yield for the trailing twelve months is around 2.70%, more than DGRO's 1.86% yield.

PositionTTM20252024202320222021202020192018201720162015
DGRO
iShares Core Dividend Growth ETF		1.86%2.09%2.26%2.45%2.34%1.93%2.30%2.21%2.44%2.03%2.27%2.52%
FDVV
Fidelity High Dividend ETF		2.70%2.89%2.94%3.77%3.44%2.70%3.19%3.93%4.05%3.66%1.04%0.00%

Frequently Asked Questions

FDVV and DGRO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FDVV has higher volatility (3.26%) compared to DGRO (3.03%). In terms of maximum drawdown, FDVV dropped -40.25% vs DGRO's -35.10%.

On 5-year performance, FDVV leads with 14.54% vs 11.25% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FDVV has performed better with a 14.54% return vs 11.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DGRO is cheaper with a 0.08% expense ratio, compared with 0.29% for FDVV.

FDVV has the higher dividend yield at 2.70%, compared with 1.86% for DGRO.

FDVV is categorized as Large Cap Blend Equities, while DGRO is Large Cap Growth Equities. FDVV tracks Fidelity Core Dividend Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.29% for FDVV and 0.08% for DGRO.

DGRO currently has the higher Sharpe Ratio (2.64 vs 2.26), 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.

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