GSUS vs. DGRO

Last updated Jun 4, 2026

GSUS (Goldman Sachs MarketBeta U.S. Equity ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds - GSUS tracks the Solactive GBS United States Large & Mid Cap Index while DGRO tracks the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 5 years, GSUS returned 13.64%/yr vs 10.54%/yr for DGRO. Their correlation of 0.83 suggests significant overlap in exposure. GSUS charges 0.07%/yr vs 0.08%/yr for DGRO.

Performance

GSUS vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs MarketBeta U.S. Equity ETF (GSUS) 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, GSUS achieves a 10.67% return, which is significantly higher than DGRO's 8.76% return.

GSUS

• 1D: -0.74%
• 1M: 5.20%
• YTD: 10.67%
• 6M: 10.52%
• 1Y: 27.76%
• 3Y*: 22.74%
• 5Y*: 13.64%
• 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)

GSUS vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GSUS Goldman Sachs MarketBeta U.S. Equity ETF	10.67%	18.11%	25.25%	27.74%	-19.82%	27.13%	34.82%
DGRO iShares Core Dividend Growth ETF	8.76%	15.69%	16.62%	10.47%	-7.91%	26.64%	30.38%

Correlation

The correlation between GSUS and DGRO is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 18, 2020	0.83

The correlation between GSUS and DGRO shifts across timeframes, from 0.68 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.

GSUS vs. DGRO - Sectors Allocation Comparison

Sectors	GSUS	DGRO
Technology	35.6%	19.4%
Communication Services	11.9%	0.1%
Financial Services	11.7%	21.2%
Consumer Cyclical	10.2%	5.7%
Healthcare	8.7%	16.4%
Industrials	8.0%	10.8%
Consumer Defensive	4.9%	11.5%
Energy	3.6%	5.6%
Utilities	2.2%	6.9%
Real Estate	1.7%	-
Basic Materials	1.7%	2.5%

Return for Risk

GSUS vs. DGRO — Risk / Return Rank

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

GSUS

GSUS Risk / Return Rank: 68
GSUS Sharpe Ratio Rank: 70
GSUS Sortino Ratio Rank: 69
GSUS Omega Ratio Rank: 70
GSUS Calmar Ratio Rank: 61
GSUS Martin Ratio Rank: 72

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.

GSUS vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta U.S. Equity ETF (GSUS) 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.

	GSUS	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.39	-0.07
Sortino ratio: Return per unit of downside risk	3.17	3.49	-0.32
Omega ratio: Gain probability vs. loss probability	1.42	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	3.02	3.50	-0.48
Martin ratio: Return relative to average drawdown	13.70	13.52	+0.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSUS vs. DGRO - Sharpe Ratio Comparison

The current GSUS Sharpe Ratio is 2.33, which is comparable to the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of GSUS 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

	GSUS	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.39	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.77	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.76	+0.36

Drawdowns

GSUS vs. DGRO - Drawdown Comparison

The maximum GSUS drawdown since its inception was -25.62%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for GSUS and DGRO.

Drawdown Indicators

	GSUS	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-25.62%	-35.10%	+9.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.24%	-6.47%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-14.03%	-5.04%
Max Drawdown (5Y) Largest decline over 5 years	-25.62%	-19.31%	-6.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-0.74%	-0.28%	-0.46%
Average Drawdown Average peak-to-trough decline	-5.27%	-3.44%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.67%	+0.36%

Volatility

GSUS vs. DGRO - Volatility Comparison

Goldman Sachs MarketBeta U.S. Equity ETF (GSUS) has a higher volatility of 2.91% compared to iShares Core Dividend Growth ETF (DGRO) at 2.21%. This indicates that GSUS'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

	GSUS	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	2.21%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	9.05%	6.91%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	9.48%	+2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.05%	13.82%	+3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	16.62%	+0.44%

GSUS vs. DGRO - Expense Ratio Comparison

GSUS has a 0.07% expense ratio, which is lower than DGRO's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GSUS vs. DGRO - Dividend Comparison

GSUS's dividend yield for the trailing twelve months is around 0.98%, less 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%
GSUS Goldman Sachs MarketBeta U.S. Equity ETF	0.98%	1.04%	1.19%	1.32%	1.51%	1.13%	0.78%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSUS and DGRO in my portfolio?

GSUS and DGRO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSUS or DGRO?

GSUS has higher volatility (2.91%) compared to DGRO (2.21%). In terms of maximum drawdown, GSUS dropped -25.62% vs DGRO's -35.10%.

Which ETF is better, GSUS or DGRO?

On 5-year performance, GSUS leads with 13.64% vs 10.54% for DGRO. On fees, GSUS is cheaper at 0.07% 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, GSUS or DGRO?

Over the 5-year period, GSUS has performed better with a 13.64% return vs 10.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSUS or DGRO?

GSUS is cheaper with a 0.07% expense ratio, compared with 0.08% for DGRO.

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

DGRO has the higher dividend yield at 1.96%, compared with 0.98% for GSUS.

What is the main difference between GSUS and DGRO?

GSUS tracks Solactive GBS United States Large & Mid Cap Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.07% for GSUS and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 2.33), 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.