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IGBH vs. DGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGBH vs. DGRO

Last updated Jun 5, 2026

IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - IGBH is a Corporate Bonds fund tracking the BlackRock Interest Rate Hedged Long-Term Corporate 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 10 years, IGBH returned 5.04%/yr vs 13.34%/yr for DGRO. At a 0.38 correlation, their price movements are largely independent. IGBH charges 0.16%/yr vs 0.08%/yr for DGRO.

Performance

IGBH vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IGBH achieves a 2.44% return, which is significantly lower than DGRO's 9.64% return. Over the past 10 years, IGBH has underperformed DGRO with an annualized return of 5.04%, while DGRO has yielded a comparatively higher 13.34% annualized return.

IGBH

1D
0.12%
1M
1.52%
YTD
2.44%
6M
3.11%
1Y
9.11%
3Y*
9.02%
5Y*
5.30%
10Y*
5.04%

DGRO

1D
0.81%
1M
3.27%
YTD
9.64%
6M
9.87%
1Y
23.89%
3Y*
17.46%
5Y*
10.72%
10Y*
13.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IGBH vs. DGRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IGBH
iShares Interest Rate Hedged Long-Term Corporate Bond ETF		2.44%7.90%7.80%12.12%-2.82%2.20%1.09%9.62%-4.54%9.36%
DGRO
iShares Core Dividend Growth ETF		9.64%15.69%16.62%10.47%-7.91%26.64%9.50%29.87%-2.38%23.00%

Correlation

The correlation between IGBH and DGRO is 0.51, 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

0.51

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.48

Correlation (10Y)
Calculated over the trailing 10-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2015

0.38

The correlation between IGBH and DGRO shifts across timeframes, from 0.38 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.

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iShares Interest Rate Hedged Long-Term Corporate Bond ETF

iShares Core Dividend Growth ETF

Often compared with IGBH:
IGBH vs. LQDHIGBH vs. IGHGIGBH vs. FLBLIGBH vs. IGEBIGBH vs. HYGHIGBH vs. SGOVIGBH vs. VCLT
Often compared with DGRO:
DGRO vs. SCHDDGRO vs. VIGDGRO vs. VYMDGRO vs. VOODGRO vs. DGRWDGRO vs. DIVODGRO vs. HDV

Return for Risk

IGBH vs. DGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGBH
IGBH Risk / Return Rank: 6363
Overall Rank
IGBH Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
IGBH Sortino Ratio Rank: 7777
Sortino Ratio Rank
IGBH Omega Ratio Rank: 7575
Omega Ratio Rank
IGBH Calmar Ratio Rank: 4444
Calmar Ratio Rank
IGBH Martin Ratio Rank: 4848
Martin Ratio Rank
DGRO
DGRO Risk / Return Rank: 7878
Overall Rank
DGRO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
DGRO Sortino Ratio Rank: 8383
Sortino Ratio Rank
DGRO Omega Ratio Rank: 7878
Omega Ratio Rank
DGRO Calmar Ratio Rank: 7575
Calmar Ratio Rank
DGRO Martin Ratio Rank: 7676
Martin Ratio Rank
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.

IGBH vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) 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.

IGBHDGRODifference
Sharpe ratioReturn per unit of total volatility
2.26
2.53

-0.27

Sortino ratioReturn per unit of downside risk
3.40
3.68

-0.28

Omega ratioGain probability vs. loss probability

1.44

1.46

-0.02

Calmar ratioReturn relative to maximum drawdown

2.16

3.71

-1.55

Martin ratioReturn relative to average drawdown

7.90

14.33

-6.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGBH vs. DGRO - Sharpe Ratio Comparison

The current IGBH Sharpe Ratio is 2.26, which is comparable to the DGRO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of IGBH 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.

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Sharpe Ratios by Period

IGBHDGRODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.26

2.53

-0.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

0.78

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.81

-0.26

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.77

-0.25

Drawdowns

IGBH vs. DGRO - Drawdown Comparison

The maximum IGBH drawdown since its inception was -33.67%, roughly equal to the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for IGBH and DGRO.

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Drawdown Indicators

IGBHDGRODifference

Max Drawdown

Largest peak-to-trough decline

-33.67%

-35.10%

+1.43%

Max Drawdown (1Y)

Largest decline over 1 year

-4.24%

-6.47%

+2.23%

Max Drawdown (3Y)

Largest decline over 3 years

-6.93%

-14.03%

+7.10%

Max Drawdown (5Y)

Largest decline over 5 years

-10.48%

-19.31%

+8.83%

Max Drawdown (10Y)

Largest decline over 10 years

-33.67%

-35.10%

+1.43%

Current Drawdown

Current decline from peak

-0.07%

0.00%

-0.07%

Average Drawdown

Average peak-to-trough decline

-2.66%

-3.44%

+0.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.15%

1.67%

-0.52%

Volatility

IGBH vs. DGRO - Volatility Comparison

The current volatility for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) is 0.82%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.24%. This indicates that IGBH 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

IGBHDGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.82%

2.24%

-1.42%

Volatility (6M)

Calculated over the trailing 6-month period

3.14%

6.94%

-3.80%

Volatility (1Y)

Calculated over the trailing 1-year period

4.05%

9.49%

-5.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.13%

13.82%

-7.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.20%

16.62%

-7.42%

IGBH vs. DGRO - Expense Ratio Comparison

IGBH has a 0.16% 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

IGBH vs. DGRO - Dividend Comparison

IGBH's dividend yield for the trailing twelve months is around 5.66%, more than DGRO's 1.94% yield.

PositionTTM20252024202320222021202020192018201720162015
DGRO
iShares Core Dividend Growth ETF		1.94%2.09%2.26%2.45%2.34%1.93%2.30%2.21%2.44%2.03%2.27%2.52%
IGBH
iShares Interest Rate Hedged Long-Term Corporate Bond ETF		5.66%6.23%6.88%7.32%3.84%2.71%2.39%3.40%5.56%2.87%2.62%1.12%

Frequently Asked Questions

IGBH and DGRO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DGRO has higher volatility (2.24%) compared to IGBH (0.82%). In terms of maximum drawdown, IGBH dropped -33.67% vs DGRO's -35.10%.

On 10-year performance, DGRO leads with 13.34% vs 5.04% for IGBH. On fees, DGRO is cheaper at 0.08% per year. On volatility, IGBH has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DGRO has performed better with a 13.34% return vs 5.04%. 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 0.16% for IGBH.

IGBH has the higher dividend yield at 5.66%, compared with 1.94% for DGRO.

IGBH is categorized as Corporate Bonds, while DGRO is Large Cap Growth Equities. IGBH tracks BlackRock Interest Rate Hedged Long-Term Corporate Bond Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.16% for IGBH and 0.08% for DGRO.

DGRO currently has the higher Sharpe Ratio (2.53 vs 2.26), 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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