ISCF vs. DGRO

Last updated Jun 5, 2026

ISCF (iShares MSCI Intl Small-Cap Multifactor ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - ISCF is a Foreign Small & Mid Cap Equities fund tracking the MSCI World exUSA SmallCap Diversified Multi-Factor, 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, ISCF returned 9.29%/yr vs 13.34%/yr for DGRO. A 0.64 correlation means they provide meaningful diversification when combined. ISCF charges 0.40%/yr vs 0.08%/yr for DGRO.

Performance

ISCF vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) 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, ISCF achieves a 8.20% return, which is significantly lower than DGRO's 9.64% return. Over the past 10 years, ISCF has underperformed DGRO with an annualized return of 9.29%, while DGRO has yielded a comparatively higher 13.34% annualized return.

ISCF

• 1D: 0.86%
• 1M: 1.30%
• YTD: 8.20%
• 6M: 11.04%
• 1Y: 22.39%
• 3Y*: 17.96%
• 5Y*: 7.44%
• 10Y*: 9.29%

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)

ISCF vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISCF iShares MSCI Intl Small-Cap Multifactor ETF	8.20%	33.65%	4.75%	11.50%	-15.07%	13.31%	7.65%	26.32%	-18.76%	38.13%
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 ISCF and DGRO is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 4, 2015	0.64

The correlation between ISCF and DGRO has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

ISCF vs. DGRO - Sectors Allocation Comparison

Sectors	ISCF	DGRO
Industrials	23.3%	10.8%
Consumer Cyclical	12.4%	5.7%
Financial Services	12.3%	21.2%
Basic Materials	11.2%	2.5%
Technology	10.5%	19.4%
Real Estate	8.8%	-
Healthcare	5.4%	16.4%
Energy	4.8%	5.6%
Consumer Defensive	4.1%	11.5%
Communication Services	3.8%	0.1%
Utilities	3.6%	6.9%

Return for Risk

ISCF vs. DGRO — Risk / Return Rank

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

ISCF

ISCF Risk / Return Rank: 45
ISCF Sharpe Ratio Rank: 46
ISCF Sortino Ratio Rank: 45
ISCF Omega Ratio Rank: 45
ISCF Calmar Ratio Rank: 41
ISCF Martin Ratio Rank: 46

DGRO

DGRO Risk / Return Rank: 78
DGRO Sharpe Ratio Rank: 79
DGRO Sortino Ratio Rank: 83
DGRO Omega Ratio Rank: 78
DGRO Calmar Ratio Rank: 75
DGRO Martin Ratio Rank: 76

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.

ISCF vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) 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.

	ISCF	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.53	-0.97
Sortino ratio: Return per unit of downside risk	2.21	3.68	-1.46
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	1.98	3.71	-1.73
Martin ratio: Return relative to average drawdown	7.42	14.33	-6.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISCF vs. DGRO - Sharpe Ratio Comparison

The current ISCF Sharpe Ratio is 1.56, which is lower than the DGRO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of ISCF 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

	ISCF	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	2.53	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.78	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.81	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.77	-0.28

Drawdowns

ISCF vs. DGRO - Drawdown Comparison

The maximum ISCF drawdown since its inception was -40.79%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ISCF and DGRO.

Drawdown Indicators

	ISCF	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-40.79%	-35.10%	-5.69%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-6.47%	-4.87%
Max Drawdown (3Y) Largest decline over 3 years	-13.85%	-14.03%	+0.18%
Max Drawdown (5Y) Largest decline over 5 years	-30.70%	-19.31%	-11.39%
Max Drawdown (10Y) Largest decline over 10 years	-40.79%	-35.10%	-5.69%
Current Drawdown Current decline from peak	-1.80%	0.00%	-1.80%
Average Drawdown Average peak-to-trough decline	-8.14%	-3.44%	-4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	1.67%	+1.36%

Volatility

ISCF vs. DGRO - Volatility Comparison

iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) has a higher volatility of 4.25% compared to iShares Core Dividend Growth ETF (DGRO) at 2.24%. This indicates that ISCF'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

	ISCF	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	2.24%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	11.88%	6.94%	+4.94%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	9.49%	+4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	13.82%	+2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	16.62%	+0.81%

ISCF vs. DGRO - Expense Ratio Comparison

ISCF has a 0.40% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

ISCF vs. DGRO - Dividend Comparison

ISCF's dividend yield for the trailing twelve months is around 3.47%, more than DGRO's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
ISCF iShares MSCI Intl Small-Cap Multifactor ETF	3.47%	3.76%	4.29%	3.94%	2.73%	3.93%	2.30%	2.87%	2.14%	1.97%	2.89%	1.46%

Frequently Asked Questions

Can I hold both ISCF and DGRO in my portfolio?

ISCF and DGRO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISCF or DGRO?

ISCF has higher volatility (4.25%) compared to DGRO (2.24%). In terms of maximum drawdown, ISCF dropped -40.79% vs DGRO's -35.10%.

Which ETF is better, ISCF or DGRO?

On 10-year performance, DGRO leads with 13.34% vs 9.29% for ISCF. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCF or DGRO?

Over the 10-year period, DGRO has performed better with a 13.34% return vs 9.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCF or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.40% for ISCF.

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

ISCF has the higher dividend yield at 3.47%, compared with 1.94% for DGRO.

What is the main difference between ISCF and DGRO?

ISCF is categorized as Foreign Small & Mid Cap Equities, while DGRO is Large Cap Growth Equities. ISCF tracks MSCI World exUSA SmallCap Diversified Multi-Factor, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.40% for ISCF and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.53 vs 1.56), 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.