IBMQ vs. DGRO

Last updated Jun 4, 2026

IBMQ (iShares iBonds Dec 2028 Term Muni Bond ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - IBMQ is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 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, IBMQ returned 0.48%/yr vs 10.54%/yr for DGRO. At a 0.06 correlation, their price movements are largely independent. IBMQ charges 0.18%/yr vs 0.08%/yr for DGRO.

Performance

IBMQ vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) 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, IBMQ achieves a 0.69% return, which is significantly lower than DGRO's 8.76% return.

IBMQ

• 1D: -0.08%
• 1M: 0.16%
• YTD: 0.69%
• 6M: 1.27%
• 1Y: 3.49%
• 3Y*: 2.96%
• 5Y*: 0.48%
• 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)

IBMQ vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF	0.69%	4.09%	0.71%	4.00%	-6.73%	-0.26%	6.93%	5.39%
DGRO iShares Core Dividend Growth ETF	8.76%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	13.80%

Correlation

The correlation between IBMQ and DGRO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019	0.06

The correlation between IBMQ and DGRO shifts across timeframes, from 0.06 (all time) to 0.18 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

IBMQ vs. DGRO — Risk / Return Rank

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

IBMQ

IBMQ Risk / Return Rank: 77
IBMQ Sharpe Ratio Rank: 88
IBMQ Sortino Ratio Rank: 92
IBMQ Omega Ratio Rank: 91
IBMQ Calmar Ratio Rank: 64
IBMQ Martin Ratio Rank: 49

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.

IBMQ vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) 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.

	IBMQ	DGRO	Difference
Sharpe ratio Return per unit of total volatility	2.91	2.39	+0.52
Sortino ratio Return per unit of downside risk	4.41	3.49	+0.92
Omega ratio Gain probability vs. loss probability	1.61	1.43	+0.17
Calmar ratio Return relative to maximum drawdown	3.11	3.50	-0.39
Martin ratio Return relative to average drawdown	8.20	13.52	-5.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBMQ vs. DGRO - Sharpe Ratio Comparison

The current IBMQ Sharpe Ratio is 2.91, which is comparable to the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of IBMQ 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

	IBMQ	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.91	2.39	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.77	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.76	-0.40

Drawdowns

IBMQ vs. DGRO - Drawdown Comparison

The maximum IBMQ drawdown since its inception was -15.85%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for IBMQ and DGRO.

Drawdown Indicators

	IBMQ	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-35.10%	+19.25%
Max Drawdown (1Y) Largest decline over 1 year	-1.13%	-6.47%	+5.34%
Max Drawdown (3Y) Largest decline over 3 years	-3.57%	-14.03%	+10.46%
Max Drawdown (5Y) Largest decline over 5 years	-11.51%	-19.31%	+7.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-0.33%	-0.28%	-0.05%
Average Drawdown Average peak-to-trough decline	-3.26%	-3.44%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	1.67%	-1.24%

Volatility

IBMQ vs. DGRO - Volatility Comparison

The current volatility for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) is 0.34%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.21%. This indicates that IBMQ 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.

Volatility by Period

	IBMQ	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	2.21%	-1.87%
Volatility (6M) Calculated over the trailing 6-month period	0.88%	6.91%	-6.03%
Volatility (1Y) Calculated over the trailing 1-year period	1.21%	9.48%	-8.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.96%	13.82%	-10.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.55%	16.62%	-11.07%

IBMQ vs. DGRO - Expense Ratio Comparison

IBMQ 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

IBMQ vs. DGRO - Dividend Comparison

IBMQ's dividend yield for the trailing twelve months is around 2.45%, 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%
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF	2.45%	2.43%	2.33%	1.93%	1.25%	1.05%	1.24%	1.03%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMQ and DGRO in my portfolio?

IBMQ and DGRO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBMQ or DGRO?

DGRO has higher volatility (2.21%) compared to IBMQ (0.34%). In terms of maximum drawdown, IBMQ dropped -15.85% vs DGRO's -35.10%.

Which ETF is better, IBMQ or DGRO?

On 5-year performance, DGRO leads with 10.54% vs 0.48% for IBMQ. On fees, DGRO is cheaper at 0.08% per year. On volatility, IBMQ has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBMQ or DGRO?

Over the 5-year period, DGRO has performed better with a 10.54% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBMQ or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.18% for IBMQ.

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

IBMQ has the higher dividend yield at 2.45%, compared with 1.96% for DGRO.

What is the main difference between IBMQ and DGRO?

IBMQ is categorized as Municipal Bonds, while DGRO is Large Cap Growth Equities. IBMQ tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.18% for IBMQ and 0.08% for DGRO.

Which has better risk-adjusted returns?

IBMQ currently has the higher Sharpe Ratio (2.91 vs 2.39), 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.