ILCB vs. DGRO

Last updated Jun 4, 2026

ILCB (iShares Morningstar U.S. Equity ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds from iShares - ILCB tracks the Morningstar US Large-Mid Cap Index while DGRO tracks the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 10 years, ILCB returned 15.00%/yr vs 13.30%/yr for DGRO. Their correlation of 0.88 suggests significant overlap in exposure. ILCB charges 0.03%/yr vs 0.08%/yr for DGRO.

Performance

ILCB vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar U.S. Equity ETF (ILCB) 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, ILCB achieves a 11.12% return, which is significantly higher than DGRO's 8.76% return. Over the past 10 years, ILCB has outperformed DGRO with an annualized return of 15.00%, while DGRO has yielded a comparatively lower 13.30% annualized return.

ILCB

• 1D: -0.67%
• 1M: 5.29%
• YTD: 11.12%
• 6M: 11.10%
• 1Y: 28.03%
• 3Y*: 22.69%
• 5Y*: 13.45%
• 10Y*: 15.00%

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)

ILCB vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILCB iShares Morningstar U.S. Equity ETF	11.12%	17.70%	24.96%	26.91%	-19.48%	24.07%	19.40%	32.68%	-8.51%	22.09%
DGRO iShares Core Dividend Growth ETF	8.76%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between ILCB and DGRO is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.88

The correlation between ILCB and DGRO shifts across timeframes, from 0.69 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

ILCB vs. DGRO - Sectors Allocation Comparison

Sectors	ILCB	DGRO
Technology	35.5%	19.4%
Financial Services	11.7%	21.2%
Communication Services	11.4%	0.1%
Consumer Cyclical	10.1%	5.7%
Industrials	8.6%	10.8%
Healthcare	8.6%	16.4%
Consumer Defensive	4.8%	11.5%
Energy	3.5%	5.6%
Utilities	2.3%	6.9%
Real Estate	1.8%	-
Basic Materials	1.8%	2.5%

Return for Risk

ILCB vs. DGRO — Risk / Return Rank

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

ILCB

ILCB Risk / Return Rank: 69
ILCB Sharpe Ratio Rank: 70
ILCB Sortino Ratio Rank: 69
ILCB Omega Ratio Rank: 70
ILCB Calmar Ratio Rank: 62
ILCB Martin Ratio Rank: 75

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.

ILCB vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar U.S. Equity ETF (ILCB) 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.

	ILCB	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.39	-0.05
Sortino ratio: Return per unit of downside risk	3.20	3.49	-0.29
Omega ratio: Gain probability vs. loss probability	1.42	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	3.10	3.50	-0.40
Martin ratio: Return relative to average drawdown	14.24	13.52	+0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ILCB vs. DGRO - Sharpe Ratio Comparison

The current ILCB Sharpe Ratio is 2.35, which is comparable to the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ILCB 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

	ILCB	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.39	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.77	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.80	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.76	-0.13

Drawdowns

ILCB vs. DGRO - Drawdown Comparison

The maximum ILCB drawdown since its inception was -51.53%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ILCB and DGRO.

Drawdown Indicators

	ILCB	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-51.53%	-35.10%	-16.43%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-6.47%	-2.62%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-14.03%	-5.02%
Max Drawdown (5Y) Largest decline over 5 years	-25.47%	-19.31%	-6.16%
Max Drawdown (10Y) Largest decline over 10 years	-35.30%	-35.10%	-0.20%
Current Drawdown Current decline from peak	-0.67%	-0.28%	-0.39%
Average Drawdown Average peak-to-trough decline	-6.24%	-3.44%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.67%	+0.30%

Volatility

ILCB vs. DGRO - Volatility Comparison

iShares Morningstar U.S. Equity ETF (ILCB) has a higher volatility of 2.88% compared to iShares Core Dividend Growth ETF (DGRO) at 2.21%. This indicates that ILCB's price experiences larger fluctuations and is considered to be riskier than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILCB	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	2.21%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	9.10%	6.91%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.02%	9.48%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	13.82%	+3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	16.62%	+1.54%

ILCB vs. DGRO - Expense Ratio Comparison

ILCB has a 0.03% expense ratio, which is lower than DGRO's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ILCB vs. DGRO - Dividend Comparison

ILCB's dividend yield for the trailing twelve months is around 0.97%, less 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%
ILCB iShares Morningstar U.S. Equity ETF	0.97%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%

Frequently Asked Questions

Can I hold both ILCB and DGRO in my portfolio?

ILCB and DGRO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILCB or DGRO?

ILCB has higher volatility (2.88%) compared to DGRO (2.21%). In terms of maximum drawdown, ILCB dropped -51.53% vs DGRO's -35.10%.

Which ETF is better, ILCB or DGRO?

On 10-year performance, ILCB leads with 15.00% vs 13.30% for DGRO. On fees, ILCB is cheaper at 0.03% per year. On volatility, DGRO has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILCB or DGRO?

Over the 10-year period, ILCB has performed better with a 15.00% return vs 13.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILCB or DGRO?

ILCB is cheaper with a 0.03% expense ratio, compared with 0.08% for DGRO.

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

DGRO has the higher dividend yield at 1.96%, compared with 0.97% for ILCB.

What is the main difference between ILCB and DGRO?

ILCB tracks Morningstar US Large-Mid Cap Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.03% for ILCB and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 2.35), 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.