HYDB vs. DGRO
HYDB (iShares High Yield Bond Factor ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - HYDB is a High Yield Bonds fund tracking the BlackRock High Yield Defensive Bond 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, HYDB returned 4.67%/yr vs 10.54%/yr for DGRO. A 0.62 correlation means they provide meaningful diversification when combined. HYDB charges 0.35%/yr vs 0.08%/yr for DGRO.
Performance
HYDB vs. DGRO - Performance Comparison
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Returns By Period
In the year-to-date period, HYDB achieves a 1.32% return, which is significantly lower than DGRO's 8.76% return.
HYDB
- 1D
- -0.21%
- 1M
- 0.39%
- YTD
- 1.32%
- 6M
- 1.87%
- 1Y
- 7.20%
- 3Y*
- 9.11%
- 5Y*
- 4.67%
- 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%
HYDB vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.32% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
DGRO iShares Core Dividend Growth ETF | 8.76% | 15.69% | 16.62% | 10.47% | -7.91% | 26.64% | 9.50% | 29.87% | -2.38% | 11.56% |
Correlation
The correlation between HYDB and DGRO is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017 | 0.62 |
The correlation between HYDB and DGRO has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.
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Return for Risk
HYDB vs. DGRO — Risk / Return Rank
HYDB
DGRO
HYDB vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) 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.
| HYDB | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.43 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.50 | -0.95 |
| Martin ratioReturn relative to average drawdown | 11.30 | 13.52 | -2.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYDB | DGRO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.91 | 2.39 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.77 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.76 | -0.05 |
Drawdowns
HYDB vs. DGRO - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for HYDB and DGRO.
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Drawdown Indicators
| HYDB | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -35.10% | +13.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -6.47% | +3.64% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -14.03% | +8.45% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -19.31% | +5.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.10% | — |
Current DrawdownCurrent decline from peak | -0.21% | -0.28% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -3.44% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 1.67% | -1.03% |
Volatility
HYDB vs. DGRO - Volatility Comparison
The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.13%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.21%. This indicates that HYDB 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.
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Volatility by Period
| HYDB | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 2.21% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 6.91% | -3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 9.48% | -5.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 13.82% | -6.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 16.62% | -8.86% |
HYDB vs. DGRO - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is higher than DGRO's 0.08% expense ratio.
Dividends
HYDB vs. DGRO - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 7.00%, more 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% |
HYDB iShares High Yield Bond Factor ETF | 7.00% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
Frequently Asked Questions
HYDB 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.
DGRO has higher volatility (2.21%) compared to HYDB (1.13%). In terms of maximum drawdown, HYDB dropped -21.58% vs DGRO's -35.10%.
On 5-year performance, DGRO leads with 10.54% vs 4.67% for HYDB. On fees, DGRO is cheaper at 0.08% per year. On volatility, HYDB has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DGRO has performed better with a 10.54% return vs 4.67%. 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 0.35% for HYDB.
HYDB has the higher dividend yield at 7.00%, compared with 1.96% for DGRO.
HYDB is categorized as High Yield Bonds, while DGRO is Large Cap Growth Equities. HYDB tracks BlackRock High Yield Defensive Bond Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.35% for HYDB and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.39 vs 1.91), 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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