IGRO vs. MGV

Last updated Jun 14, 2026

IGRO (iShares International Dividend Growth ETF) and MGV (Vanguard Mega Cap Value ETF) are both exchange-traded funds - IGRO is a Foreign Large Cap Equities fund tracking the Morningstar Global ex-US Dividend Growth Index (Net), while MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index. Both are passively managed. Over the past 10 years, IGRO returned 9.08%/yr vs 13.15%/yr for MGV. A 0.63 correlation means they provide meaningful diversification when combined. IGRO charges 0.15%/yr vs 0.05%/yr for MGV.

Performance

IGRO vs. MGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Dividend Growth ETF (IGRO) and Vanguard Mega Cap Value ETF (MGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGRO achieves a 7.79% return, which is significantly lower than MGV's 15.50% return. Over the past 10 years, IGRO has underperformed MGV with an annualized return of 9.08%, while MGV has yielded a comparatively higher 13.15% annualized return.

IGRO

• 1D: 0.23%
• 1M: 0.89%
• YTD: 7.79%
• 6M: 9.17%
• 1Y: 14.94%
• 3Y*: 15.50%
• 5Y*: 7.69%
• 10Y*: 9.08%

MGV

• 1D: 0.90%
• 1M: 4.18%
• YTD: 15.50%
• 6M: 15.37%
• 1Y: 28.69%
• 3Y*: 18.98%
• 5Y*: 12.53%
• 10Y*: 13.15%

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

IGRO vs. MGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGRO iShares International Dividend Growth ETF	7.79%	25.03%	7.78%	15.38%	-12.72%	9.94%	7.71%	26.13%	-14.86%	24.64%
MGV Vanguard Mega Cap Value ETF	15.50%	15.45%	16.94%	9.16%	-1.22%	25.93%	2.50%	25.54%	-4.13%	16.85%

Correlation

The correlation between IGRO and MGV is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 19, 2016	0.63

The correlation between IGRO and MGV has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

IGRO vs. MGV - Sectors Allocation Comparison

Sectors	IGRO	MGV
Financial Services	32.0%	23.9%
Industrials	14.4%	13.7%
Healthcare	12.6%	16.6%
Consumer Defensive	10.1%	11.9%
Technology	8.7%	14.2%
Utilities	6.9%	2.6%
Consumer Cyclical	6.8%	3.7%
Basic Materials	3.5%	2.4%
Energy	2.4%	6.6%
Communication Services	1.9%	3.4%
Real Estate	0.6%	1.2%

Return for Risk

IGRO vs. MGV — Risk / Return Rank

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

IGRO

IGRO Risk / Return Rank: 34
IGRO Sharpe Ratio Rank: 34
IGRO Sortino Ratio Rank: 34
IGRO Omega Ratio Rank: 33
IGRO Calmar Ratio Rank: 32
IGRO Martin Ratio Rank: 37

MGV

MGV Risk / Return Rank: 90
MGV Sharpe Ratio Rank: 91
MGV Sortino Ratio Rank: 92
MGV Omega Ratio Rank: 89
MGV Calmar Ratio Rank: 87
MGV Martin Ratio Rank: 88

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.

IGRO vs. MGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Dividend Growth ETF (IGRO) and Vanguard Mega Cap Value ETF (MGV). 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.

	IGRO	MGV	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.76	-1.67
Sortino ratio: Return per unit of downside risk	1.61	3.92	-2.31
Omega ratio: Gain probability vs. loss probability	1.20	1.50	-0.30
Calmar ratio: Return relative to maximum drawdown	1.39	4.36	-2.97
Martin ratio: Return relative to average drawdown	5.17	16.56	-11.39

IGRO vs. MGV - Sharpe Ratio Comparison

The current IGRO Sharpe Ratio is 1.10, which is lower than the MGV Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of IGRO and MGV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IGRO vs. MGV - Drawdown Comparison

The maximum IGRO drawdown since its inception was -36.25%, smaller than the maximum MGV drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for IGRO and MGV.

Drawdown Indicators

	IGRO	MGV	Difference
Max Drawdown Largest peak-to-trough decline	-36.25%	-56.07%	+19.82%
Max Drawdown (1Y) Largest decline over 1 year	-10.00%	-6.42%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-11.13%	-13.18%	+2.05%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-16.54%	-9.50%
Max Drawdown (10Y) Largest decline over 10 years	-36.25%	-35.41%	-0.84%
Current Drawdown Current decline from peak	-1.02%	0.00%	-1.02%
Average Drawdown Average peak-to-trough decline	-5.67%	-7.78%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	1.69%	+1.01%

Volatility

IGRO vs. MGV - Volatility Comparison

iShares International Dividend Growth ETF (IGRO) has a higher volatility of 3.59% compared to Vanguard Mega Cap Value ETF (MGV) at 3.33%. This indicates that IGRO's price experiences larger fluctuations and is considered to be riskier than MGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGRO	MGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.33%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	10.65%	7.77%	+2.88%
Volatility (1Y) Calculated over the trailing 1-year period	12.71%	10.13%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.95%	13.61%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	16.35%	+0.50%

IGRO vs. MGV - Expense Ratio Comparison

IGRO has a 0.15% expense ratio, which is higher than MGV's 0.05% 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

IGRO vs. MGV - Dividend Comparison

IGRO's dividend yield for the trailing twelve months is around 2.36%, more than MGV's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGRO iShares International Dividend Growth ETF	2.36%	2.51%	2.44%	2.79%	2.69%	2.27%	2.41%	2.65%	2.97%	2.43%	1.18%	0.00%
MGV Vanguard Mega Cap Value ETF	1.85%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%

Frequently Asked Questions

Can I hold both IGRO and MGV in my portfolio?

IGRO and MGV have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGRO or MGV?

IGRO has higher volatility (3.59%) compared to MGV (3.33%). In terms of maximum drawdown, IGRO dropped -36.25% vs MGV's -56.07%.

Which ETF is better, IGRO or MGV?

On 10-year performance, MGV leads with 13.15% vs 9.08% for IGRO. On fees, MGV is cheaper at 0.05% per year. On volatility, MGV has been the lower-risk option at 3.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGRO or MGV?

Over the 10-year period, MGV has performed better with a 13.15% return vs 9.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGRO or MGV?

MGV is cheaper with a 0.05% expense ratio, compared with 0.15% for IGRO.

Which ETF pays a higher dividend yield, IGRO or MGV?

IGRO has the higher dividend yield at 2.36%, compared with 1.85% for MGV.

What is the main difference between IGRO and MGV?

IGRO is categorized as Foreign Large Cap Equities, while MGV is Large Cap Value Equities. IGRO tracks Morningstar Global ex-US Dividend Growth Index (Net), while MGV tracks CRSP US Mega Cap Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for IGRO and 0.05% for MGV.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (2.76 vs 1.10), 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.