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GRID vs. DGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GRID vs. DGRO

Last updated Jun 13, 2026

GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure 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, GRID returned 19.76%/yr vs 13.52%/yr for DGRO. A 0.65 correlation means they provide meaningful diversification when combined. GRID charges 0.70%/yr vs 0.08%/yr for DGRO.

Performance

GRID vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) 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

In the year-to-date period, GRID achieves a 23.59% return, which is significantly higher than DGRO's 9.86% return. Over the past 10 years, GRID has outperformed DGRO with an annualized return of 19.76%, while DGRO has yielded a comparatively lower 13.52% annualized return.

GRID

1D
-0.18%
1M
-4.18%
YTD
23.59%
6M
24.02%
1Y
41.72%
3Y*
23.21%
5Y*
16.83%
10Y*
19.76%

DGRO

1D
0.69%
1M
3.74%
YTD
9.86%
6M
9.27%
1Y
22.26%
3Y*
16.74%
5Y*
10.82%
10Y*
13.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GRID vs. DGRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		23.59%29.65%15.18%21.57%-13.89%27.65%48.84%42.80%-22.69%27.44%
DGRO
iShares Core Dividend Growth ETF		9.86%15.69%16.62%10.47%-7.91%26.64%9.50%29.87%-2.38%23.00%

Correlation

The correlation between GRID and DGRO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.57

Correlation (3Y)
Calculated over the trailing 3-year period

0.67

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (10Y)
Calculated over the trailing 10-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.65

The correlation between GRID and DGRO shifts across timeframes, from 0.57 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.

GRID vs. DGRO - Sectors Allocation Comparison

Sectors
GRID
DGRO

Industrials

65.2%
10.8%

Utilities

20.4%
6.9%

Technology

11.0%
19.4%

Consumer Cyclical

3.5%
5.7%

Basic Materials

0.0%
2.5%

Communication Services

-

0.1%

Consumer Defensive

-

11.5%

Energy

-

5.6%

Financial Services

-

21.2%

Healthcare

-

16.4%

Real Estate

-

-

Industrials

GRID
65.2%
DGRO
10.8%

Utilities

GRID
20.4%
DGRO
6.9%

Technology

GRID
11.0%
DGRO
19.4%

Consumer Cyclical

GRID
3.5%
DGRO
5.7%

Basic Materials

GRID
0.0%
DGRO
2.5%

Communication Services

GRID

-

DGRO
0.1%

Consumer Defensive

GRID

-

DGRO
11.5%

Energy

GRID

-

DGRO
5.6%

Financial Services

GRID

-

DGRO
21.2%

Healthcare

GRID

-

DGRO
16.4%

Real Estate

GRID

-

DGRO

-

Compare stocks, funds, or ETFs

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

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

iShares Core Dividend Growth ETF

Often compared with GRID:
GRID vs. ICLNGRID vs. NLRGRID vs. VOOGRID vs. FIWGRID vs. POWRGRID vs. VOLTGRID vs. QCLN
Often compared with DGRO:
DGRO vs. SCHDDGRO vs. VIGDGRO vs. VYMDGRO vs. VOODGRO vs. DGRWDGRO vs. DIVODGRO vs. HDV

Return for Risk

GRID vs. DGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GRID
GRID Risk / Return Rank: 7373
Overall Rank
GRID Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
GRID Sortino Ratio Rank: 6969
Sortino Ratio Rank
GRID Omega Ratio Rank: 6969
Omega Ratio Rank
GRID Calmar Ratio Rank: 7979
Calmar Ratio Rank
GRID Martin Ratio Rank: 7878
Martin Ratio Rank
DGRO
DGRO Risk / Return Rank: 8282
Overall Rank
DGRO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
DGRO Sortino Ratio Rank: 8787
Sortino Ratio Rank
DGRO Omega Ratio Rank: 8282
Omega Ratio Rank
DGRO Calmar Ratio Rank: 7777
Calmar Ratio Rank
DGRO Martin Ratio Rank: 7979
Martin Ratio Rank
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.

GRID vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) 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.

GRIDDGRODifference
Sharpe ratioReturn per unit of total volatility
2.02
2.34

-0.31

Sortino ratioReturn per unit of downside risk
2.70
3.40

-0.70

Omega ratioGain probability vs. loss probability

1.35

1.42

-0.07

Calmar ratioReturn relative to maximum drawdown

3.57

3.46

+0.12

Martin ratioReturn relative to average drawdown

12.89

13.36

-0.47

GRID vs. DGRO - Sharpe Ratio Comparison

The current GRID Sharpe Ratio is 2.02, which is comparable to the DGRO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of GRID 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

GRID vs. DGRO - Drawdown Comparison

The maximum GRID drawdown since its inception was -40.56%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for GRID and DGRO.

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Drawdown Indicators

GRIDDGRODifference

Max Drawdown

Largest peak-to-trough decline

-40.56%

-35.10%

-5.46%

Max Drawdown (1Y)

Largest decline over 1 year

-11.73%

-6.47%

-5.26%

Max Drawdown (3Y)

Largest decline over 3 years

-20.77%

-14.03%

-6.74%

Max Drawdown (5Y)

Largest decline over 5 years

-29.64%

-19.31%

-10.33%

Max Drawdown (10Y)

Largest decline over 10 years

-40.56%

-35.10%

-5.46%

Current Drawdown

Current decline from peak

-5.40%

0.00%

-5.40%

Average Drawdown

Average peak-to-trough decline

-8.42%

-3.44%

-4.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.25%

1.68%

+1.57%

Volatility

GRID vs. DGRO - Volatility Comparison

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a higher volatility of 9.56% compared to iShares Core Dividend Growth ETF (DGRO) at 2.64%. This indicates that GRID'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

GRIDDGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.56%

2.64%

+6.92%

Volatility (6M)

Calculated over the trailing 6-month period

17.70%

6.96%

+10.74%

Volatility (1Y)

Calculated over the trailing 1-year period

20.73%

9.59%

+11.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.24%

13.83%

+7.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.90%

16.62%

+6.28%

GRID vs. DGRO - Expense Ratio Comparison

GRID has a 0.70% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

GRID vs. DGRO - Dividend Comparison

GRID's dividend yield for the trailing twelve months is around 0.80%, less than DGRO's 1.94% yield.

PositionTTM20252024202320222021202020192018201720162015
DGRO
iShares Core Dividend Growth ETF		1.94%2.09%2.26%2.45%2.34%1.93%2.30%2.21%2.44%2.03%2.27%2.52%
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		0.80%1.01%1.06%1.23%1.26%0.63%0.68%1.26%1.28%1.07%1.07%1.23%

Frequently Asked Questions

GRID and DGRO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GRID has higher volatility (9.56%) compared to DGRO (2.64%). In terms of maximum drawdown, GRID dropped -40.56% vs DGRO's -35.10%.

On 10-year performance, GRID leads with 19.76% vs 13.52% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, GRID has performed better with a 19.76% return vs 13.52%. 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 0.70% for GRID.

DGRO has the higher dividend yield at 1.94%, compared with 0.80% for GRID.

GRID is categorized as Alternative Energy Equities, while DGRO is Large Cap Growth Equities. GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.70% for GRID and 0.08% for DGRO.

DGRO currently has the higher Sharpe Ratio (2.34 vs 2.02), 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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