HYGI vs. DGRO

Last updated Jun 3, 2026

HYGI (iShares Inflation Hedged High Yield Bond ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. HYGI charges 0.52%/yr vs 0.08%/yr for DGRO.

Performance

HYGI vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Inflation Hedged High Yield Bond ETF (HYGI) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DGRO

• 1D: 0.83%
• 1M: 2.63%
• YTD: 9.06%
• 6M: 10.08%
• 1Y: 23.65%
• 3Y*: 17.10%
• 5Y*: 10.72%
• 10Y*: 13.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYGI vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	11.71%	0.65%
DGRO iShares Core Dividend Growth ETF	9.06%	15.69%	16.62%	10.47%	4.34%

Correlation

The correlation between HYGI and DGRO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022	0.62

Over the past year, the correlation between HYGI and DGRO has dropped to 0.20 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

HYGI vs. DGRO - Sectors Allocation Comparison

Sectors	HYGI	DGRO
Utilities	99.6%	6.9%
Real Estate	0.4%	-
Basic Materials	-	2.5%
Communication Services	-	0.1%
Consumer Cyclical	-	5.7%
Consumer Defensive	-	11.5%
Energy	-	5.6%
Financial Services	-	21.2%
Healthcare	-	16.4%
Industrials	-	10.8%
Technology	-	19.4%

Return for Risk

HYGI vs. DGRO — Risk / Return Rank

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

DGRO

DGRO Risk / Return Rank: 76
DGRO Sharpe Ratio Rank: 76
DGRO Sortino Ratio Rank: 81
DGRO Omega Ratio Rank: 76
DGRO Calmar Ratio Rank: 73
DGRO Martin Ratio Rank: 74

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.

HYGI vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HYGI	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.78	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.77	—

Drawdowns

Drawdown Indicators

	HYGI	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	—	-35.10%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.47%	—
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	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-3.45%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.67%	—

Volatility

Volatility by Period

	HYGI	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.36%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	9.47%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.82%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.63%	—

HYGI vs. DGRO - Expense Ratio Comparison

HYGI has a 0.52% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

HYGI vs. DGRO - Dividend Comparison

HYGI's dividend yield for the trailing twelve months is around 1.45%, less than DGRO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.95%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
HYGI iShares Inflation Hedged High Yield Bond ETF	1.45%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYGI and DGRO in my portfolio?

HYGI and DGRO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYGI or DGRO?

On fees, DGRO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGI or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.52% for HYGI.

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

DGRO has the higher dividend yield at 1.95%, compared with 1.45% for HYGI.

What is the main difference between HYGI and DGRO?

HYGI is categorized as Inflation-Protected Bonds, while DGRO is Large Cap Growth Equities. HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.52% for HYGI and 0.08% for DGRO.