IBMO vs. DGRO
IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - IBMO is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 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, IBMO returned 0.62%/yr vs 11.15%/yr for DGRO. Their 0.01 correlation means their historical movements had little consistent relationship. IBMO charges 0.18%/yr vs 0.08%/yr for DGRO.
Performance
IBMO vs. DGRO - Performance Comparison
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Returns By Period
In the year-to-date period, IBMO achieves a 1.22% return, which is significantly lower than DGRO's 13.79% return.
IBMO
- 1D
- -0.04%
- 1M
- 0.16%
- 6M
- 1.09%
- YTD
- 1.22%
- 1Y
- 2.34%
- 3Y*
- 3.01%
- 5Y*
- 0.62%
- 10Y*
- —
- ALL TIME*
- 1.84%
DGRO
- 1D
- 0.35%
- 1M
- 1.32%
- 6M
- 9.21%
- YTD
- 13.79%
- 1Y
- 24.64%
- 3Y*
- 17.09%
- 5Y*
- 11.15%
- 10Y*
- 13.38%
- ALL TIME*
- 12.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.57M | $103.25M | $110.55M | |
| $1.89M | $1.94M | $1.71M |
IBMO vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 1.22% | 3.11% | 1.97% | 2.90% | -5.36% | -0.16% | 5.48% | 4.69% |
DGRO iShares Core Dividend Growth ETF | 13.79% | 15.69% | 16.62% | 10.47% | -7.91% | 26.64% | 9.50% | 15.27% |
Correlation
The correlation between IBMO and DGRO is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019 | 0.01 |
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Return for Risk
IBMO vs. DGRO — Risk / Return Rank
IBMO
DGRO
IBMO vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) 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.
| IBMO | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.48 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 6.22 | 3.83 | +2.39 |
| Martin ratioReturn relative to average drawdown | 18.35 | 14.91 | +3.45 |
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Drawdowns
IBMO vs. DGRO - Drawdown Comparison
The maximum IBMO drawdown since its inception was -14.77%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for IBMO and DGRO.
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Drawdown Indicators
| IBMO | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -35.10% | +20.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.38% | -6.47% | +6.09% |
Max Drawdown (3Y)Largest decline over 3 years | -1.21% | -14.03% | +12.82% |
Max Drawdown (5Y)Largest decline over 5 years | -8.77% | -19.31% | +10.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.10% | — |
Current DrawdownCurrent decline from peak | -0.04% | -1.01% | +0.97% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -3.41% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 1.66% | -1.53% |
Volatility
IBMO vs. DGRO - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) is 0.36%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.88%. This indicates that IBMO 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
| IBMO | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 2.88% | -2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 0.72% | 7.12% | -6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.14% | 9.54% | -8.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.14% | 13.79% | -11.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 16.58% | -12.11% |
IBMO vs. DGRO - Expense Ratio Comparison
IBMO has a 0.18% 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
IBMO vs. DGRO - Dividend Comparison
IBMO's dividend yield for the trailing twelve months is around 2.40%, more than DGRO's 1.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRO iShares Core Dividend Growth ETF | 1.89% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 2.40% | 2.37% | 2.15% | 1.65% | 0.89% | 0.62% | 1.03% | 1.01% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBMO and DGRO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGRO has higher volatility (2.88%) compared to IBMO (0.36%). In terms of maximum drawdown, IBMO dropped -14.77% vs DGRO's -35.10%.
On 5-year performance, DGRO leads with 11.15% vs 0.62% for IBMO. On fees, DGRO is cheaper at 0.08% per year. On volatility, IBMO has been the lower-risk option at 0.36%. 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 11.15% return vs 0.62%. 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 0.18% for IBMO.
IBMO has the higher dividend yield at 2.40%, compared with 1.89% for DGRO.
IBMO is categorized as Municipal Bonds, while DGRO is Large Cap Growth Equities. IBMO tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.18% for IBMO and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.60 vs 2.06), 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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