GQGU vs. DGRO

Last updated Aug 2, 2026

GQGU (GQG US Equity ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds. GQGU is actively managed, while DGRO is passively managed. Over the past year, GQGU returned 7.17% vs 24.21% for DGRO. Their 0.36 correlation means their historical movements had little consistent relationship. GQGU charges 0.49%/yr vs 0.08%/yr for DGRO.

Performance

GQGU vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GQG US Equity ETF (GQGU) 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, GQGU achieves a 6.80% return, which is significantly lower than DGRO's 13.39% return.

GQGU

• 1D: 0.85%
• 1M: 1.17%
• 6M: 2.86%
• YTD: 6.80%
• 1Y: 7.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.35%

DGRO

• 1D: -0.28%
• 1M: 0.97%
• 6M: 9.59%
• YTD: 13.39%
• 1Y: 24.21%
• 3Y*: 16.30%
• 5Y*: 11.08%
• 10Y*: 13.44%
• ALL TIME*: 12.47%

*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	$103.52M	$104.25M	$110.17M
GQGU GQG US Equity ETF	$4.04M	$3.49M	$3.46M

GQGU vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025
GQGU GQG US Equity ETF	6.80%	-1.12%
DGRO iShares Core Dividend Growth ETF	13.39%	8.37%

Correlation

The correlation between GQGU and DGRO is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.36

Return for Risk

GQGU vs. DGRO — Risk / Return Rank

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

GQGU

GQGU Risk / Return Rank: 26
GQGU Sharpe Ratio Rank: 28
GQGU Sortino Ratio Rank: 27
GQGU Omega Ratio Rank: 25
GQGU Calmar Ratio Rank: 26
GQGU Martin Ratio Rank: 25

DGRO

DGRO Risk / Return Rank: 91
DGRO Sharpe Ratio Rank: 93
DGRO Sortino Ratio Rank: 93
DGRO Omega Ratio Rank: 92
DGRO Calmar Ratio Rank: 88
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.

GQGU vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GQG US Equity ETF (GQGU) 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.

	GQGU	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	0.66	2.44	-1.78
Sortino ratio: Return per unit of downside risk	1.02	3.55	-2.54
Omega ratio: Gain probability vs. loss probability	1.12	1.45	-0.33
Calmar ratio: Return relative to maximum drawdown	0.83	3.61	-2.77
Martin ratio: Return relative to average drawdown	1.92	14.07	-12.15

GQGU vs. DGRO - Sharpe Ratio Comparison

The current GQGU Sharpe Ratio is 0.66, which is lower than the DGRO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of GQGU 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

GQGU vs. DGRO - Drawdown Comparison

The maximum GQGU drawdown since its inception was -8.41%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for GQGU and DGRO.

Drawdown Indicators

	GQGU	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-8.41%	-35.10%	+26.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-6.47%	-1.94%
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	-4.47%	-1.35%	-3.12%
Average Drawdown Average peak-to-trough decline	-3.00%	-3.41%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	1.66%	+1.98%

Volatility

GQGU vs. DGRO - Volatility Comparison

The current volatility for GQG US Equity ETF (GQGU) is 2.85%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 3.21%. This indicates that GQGU 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

	GQGU	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	3.21%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	8.51%	7.12%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.67%	9.61%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.58%	13.79%	-3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.58%	16.58%	-6.00%

GQGU vs. DGRO - Expense Ratio Comparison

GQGU has a 0.49% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

GQGU vs. DGRO - Dividend Comparison

GQGU's dividend yield for the trailing twelve months is around 0.95%, less 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%
GQGU GQG US Equity ETF	0.95%	1.02%	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 GQGU and DGRO in my portfolio?

GQGU and DGRO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GQGU or DGRO?

DGRO has higher volatility (3.21%) compared to GQGU (2.85%). In terms of maximum drawdown, GQGU dropped -8.41% vs DGRO's -35.10%.

Which ETF is better, GQGU or DGRO?

On 1-year performance, DGRO leads with 24.21% vs 7.17% for GQGU. On fees, DGRO is cheaper at 0.08% per year. On volatility, GQGU has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GQGU or DGRO?

Over the 1-year period, DGRO has performed better with a 24.21% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GQGU or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.49% for GQGU.

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

DGRO has the higher dividend yield at 1.89%, compared with 0.95% for GQGU.

What is the main difference between GQGU and DGRO?

They also come from different issuers: GQG Partners and iShares. Their fees differ too: 0.49% for GQGU and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.44 vs 0.66), 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.