GSWO vs. DGRO
GSWO (Goldman Sachs ActiveBeta World Equity ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 3 years, GSWO returned 16.39%/yr vs 16.11%/yr for DGRO. Their correlation of 0.86 means they have usually moved in the same direction. GSWO charges 0.25%/yr vs 0.08%/yr for DGRO.
Performance
GSWO vs. DGRO - Performance Comparison
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Returns By Period
In the year-to-date period, GSWO achieves a 9.77% return, which is significantly lower than DGRO's 13.15% return.
GSWO
- 1D
- 0.17%
- 1M
- 0.80%
- 6M
- 8.66%
- YTD
- 9.77%
- 1Y
- 15.09%
- 3Y*
- 16.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.08%
DGRO
- 1D
- 0.83%
- 1M
- 3.14%
- 6M
- 10.33%
- YTD
- 13.15%
- 1Y
- 20.83%
- 3Y*
- 16.11%
- 5Y*
- 11.10%
- 10Y*
- 13.29%
- ALL TIME*
- 12.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $96.40M | $101.84M | $109.07M | |
| $3.06M | $3.14M | $3.93M |
GSWO vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSWO Goldman Sachs ActiveBeta World Equity ETF | 9.77% | 18.97% | 15.29% | 16.28% | -6.15% |
DGRO iShares Core Dividend Growth ETF | 13.15% | 15.69% | 16.62% | 10.47% | -2.89% |
Correlation
The correlation between GSWO and DGRO is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.86 |
Over the past year, the correlation between GSWO and DGRO has dropped to 0.65 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.
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Return for Risk
GSWO vs. DGRO — Risk / Return Rank
GSWO
DGRO
GSWO vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta World Equity ETF (GSWO) 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.
| GSWO | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.41 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 3.30 | -1.59 |
| Martin ratioReturn relative to average drawdown | 7.82 | 12.72 | -4.90 |
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Drawdowns
GSWO vs. DGRO - Drawdown Comparison
The maximum GSWO drawdown since its inception was -17.77%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for GSWO and DGRO.
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Drawdown Indicators
| GSWO | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -35.10% | +17.33% |
Max Drawdown (1Y)Largest decline over 1 year | -8.93% | -6.47% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -9.97% | -14.03% | +4.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.10% | — |
Current DrawdownCurrent decline from peak | -1.97% | 0.00% | -1.97% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -3.41% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 1.68% | +0.27% |
Volatility
GSWO vs. DGRO - Volatility Comparison
Goldman Sachs ActiveBeta World Equity ETF (GSWO) has a higher volatility of 3.09% compared to iShares Core Dividend Growth ETF (DGRO) at 2.81%. This indicates that GSWO'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
| GSWO | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 2.81% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 6.96% | +3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 9.52% | +2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.02% | 13.78% | -0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 16.57% | -3.55% |
GSWO vs. DGRO - Expense Ratio Comparison
GSWO has a 0.25% expense ratio, which is higher than DGRO's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GSWO vs. DGRO - Dividend Comparison
GSWO's dividend yield for the trailing twelve months is around 1.55%, less than DGRO's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRO iShares Core Dividend Growth ETF | 1.90% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.55% | 1.74% | 1.75% | 2.06% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GSWO and DGRO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSWO has higher volatility (3.09%) compared to DGRO (2.81%). In terms of maximum drawdown, GSWO dropped -17.77% vs DGRO's -35.10%.
On 3-year performance, GSWO leads with 16.39% vs 16.11% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSWO has performed better with a 16.39% return vs 16.11%. 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 0.25% for GSWO.
DGRO has the higher dividend yield at 1.90%, compared with 1.55% for GSWO.
GSWO is categorized as Global Equities, while DGRO is Large Cap Growth Equities. GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.25% for GSWO and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.25 vs 1.31), 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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