ILF vs. DGRO

Last updated Jun 4, 2026

ILF (iShares Latin American 40 ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - ILF is a Latin America Equities fund tracking the S&P Latin America 40 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, ILF returned 8.33%/yr vs 13.30%/yr for DGRO. A 0.53 correlation means they provide meaningful diversification when combined. ILF charges 0.48%/yr vs 0.08%/yr for DGRO.

Performance

ILF vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Latin American 40 ETF (ILF) 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, ILF achieves a 11.66% return, which is significantly higher than DGRO's 8.76% return. Over the past 10 years, ILF has underperformed DGRO with an annualized return of 8.33%, while DGRO has yielded a comparatively higher 13.30% annualized return.

ILF

• 1D: -2.72%
• 1M: -4.92%
• YTD: 11.66%
• 6M: 10.51%
• 1Y: 39.82%
• 3Y*: 15.62%
• 5Y*: 8.53%
• 10Y*: 8.33%

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)

ILF vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILF iShares Latin American 40 ETF	11.66%	52.65%	-23.11%	33.14%	9.81%	-13.59%	-11.71%	13.77%	-6.85%	26.33%
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 ILF and DGRO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.53

The correlation between ILF and DGRO has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.

ILF vs. DGRO - Sectors Allocation Comparison

Sectors	ILF	DGRO
Financial Services	34.1%	21.2%
Basic Materials	21.9%	2.5%
Energy	13.4%	5.6%
Industrials	9.2%	10.8%
Consumer Defensive	8.8%	11.5%
Utilities	4.9%	6.9%
Communication Services	4.5%	0.1%
Consumer Cyclical	1.2%	5.7%
Healthcare	1.2%	16.4%
Real Estate	0.7%	-
Technology	-	19.4%

Return for Risk

ILF vs. DGRO — Risk / Return Rank

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

ILF

ILF Risk / Return Rank: 54
ILF Sharpe Ratio Rank: 53
ILF Sortino Ratio Rank: 49
ILF Omega Ratio Rank: 49
ILF Calmar Ratio Rank: 63
ILF Martin Ratio Rank: 55

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.

ILF vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Latin American 40 ETF (ILF) 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.

	ILF	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.39	-0.55
Sortino ratio: Return per unit of downside risk	2.44	3.49	-1.05
Omega ratio: Gain probability vs. loss probability	1.31	1.43	-0.12
Calmar ratio: Return relative to maximum drawdown	3.16	3.50	-0.34
Martin ratio: Return relative to average drawdown	9.70	13.52	-3.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ILF vs. DGRO - Sharpe Ratio Comparison

The current ILF Sharpe Ratio is 1.84, which is comparable to the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ILF 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

	ILF	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.39	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.77	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.80	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.76	-0.46

Drawdowns

ILF vs. DGRO - Drawdown Comparison

The maximum ILF drawdown since its inception was -67.48%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ILF and DGRO.

Drawdown Indicators

	ILF	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-67.48%	-35.10%	-32.38%
Max Drawdown (1Y) Largest decline over 1 year	-12.67%	-6.47%	-6.20%
Max Drawdown (3Y) Largest decline over 3 years	-23.97%	-14.03%	-9.94%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-19.31%	-10.40%
Max Drawdown (10Y) Largest decline over 10 years	-57.79%	-35.10%	-22.69%
Current Drawdown Current decline from peak	-10.76%	-0.28%	-10.48%
Average Drawdown Average peak-to-trough decline	-23.94%	-3.44%	-20.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	1.67%	+2.45%

Volatility

ILF vs. DGRO - Volatility Comparison

iShares Latin American 40 ETF (ILF) has a higher volatility of 6.49% compared to iShares Core Dividend Growth ETF (DGRO) at 2.21%. This indicates that ILF'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

	ILF	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	2.21%	+4.28%
Volatility (6M) Calculated over the trailing 6-month period	18.52%	6.91%	+11.61%
Volatility (1Y) Calculated over the trailing 1-year period	21.76%	9.48%	+12.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.18%	13.82%	+9.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.44%	16.62%	+11.82%

ILF vs. DGRO - Expense Ratio Comparison

ILF has a 0.48% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

ILF vs. DGRO - Dividend Comparison

ILF's dividend yield for the trailing twelve months is around 3.93%, 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%
ILF iShares Latin American 40 ETF	3.93%	4.39%	7.44%	4.61%	12.72%	8.47%	1.88%	3.09%	3.12%	1.80%	1.59%	3.25%

Frequently Asked Questions

Can I hold both ILF and DGRO in my portfolio?

ILF and DGRO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILF or DGRO?

ILF has higher volatility (6.49%) compared to DGRO (2.21%). In terms of maximum drawdown, ILF dropped -67.48% vs DGRO's -35.10%.

Which ETF is better, ILF or DGRO?

On 10-year performance, DGRO leads with 13.30% vs 8.33% for ILF. On fees, DGRO is cheaper at 0.08% 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, ILF or DGRO?

Over the 10-year period, DGRO has performed better with a 13.30% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILF or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.48% for ILF.

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

ILF has the higher dividend yield at 3.93%, compared with 1.96% for DGRO.

What is the main difference between ILF and DGRO?

ILF is categorized as Latin America Equities, while DGRO is Large Cap Growth Equities. ILF tracks S&P Latin America 40 Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.48% for ILF and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 1.84), 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.