ISHG vs. DGRO
ISHG (iShares 1-3 Year International Treasury Bond ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, 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, ISHG returned -0.18%/yr vs 13.30%/yr for DGRO. At a 0.11 correlation, their price movements are largely independent. ISHG charges 0.35%/yr vs 0.08%/yr for DGRO.
Performance
ISHG vs. DGRO - Performance Comparison
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Returns By Period
In the year-to-date period, ISHG achieves a -1.21% return, which is significantly lower than DGRO's 12.01% return. Over the past 10 years, ISHG has underperformed DGRO with an annualized return of -0.18%, while DGRO has yielded a comparatively higher 13.30% annualized return.
ISHG
- 1D
- 0.06%
- 1M
- -1.04%
- 6M
- -0.60%
- YTD
- -1.21%
- 1Y
- -0.54%
- 3Y*
- 3.44%
- 5Y*
- -0.95%
- 10Y*
- -0.18%
DGRO
- 1D
- 0.18%
- 1M
- 1.96%
- 6M
- 9.57%
- YTD
- 12.01%
- 1Y
- 21.39%
- 3Y*
- 17.05%
- 5Y*
- 11.06%
- 10Y*
- 13.30%
ISHG vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.21% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
DGRO iShares Core Dividend Growth ETF | 12.01% | 15.69% | 16.62% | 10.47% | -7.91% | 26.64% | 9.50% | 29.87% | -2.38% | 23.00% |
Correlation
The correlation between ISHG and DGRO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014 | 0.11 |
Over the past year, ISHG and DGRO have become more correlated (0.37) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
ISHG vs. DGRO — Risk / Return Rank
ISHG
DGRO
ISHG vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) 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.
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.
| ISHG | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -3.32 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.40 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 3.20 | -3.37 |
| Martin ratioReturn relative to average drawdown | -0.37 | 12.37 | -12.75 |
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Drawdowns
ISHG vs. DGRO - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ISHG and DGRO.
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Drawdown Indicators
| ISHG | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -35.10% | -2.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -6.47% | +1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -14.03% | +5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -22.29% | -19.31% | -2.98% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -35.10% | +9.54% |
Current DrawdownCurrent decline from peak | -23.17% | -0.70% | -22.47% |
Average DrawdownAverage peak-to-trough decline | -18.46% | -3.42% | -15.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 1.68% | +0.61% |
Volatility
ISHG vs. DGRO - Volatility Comparison
The current volatility for iShares 1-3 Year International Treasury Bond ETF (ISHG) is 1.58%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.70%. This indicates that ISHG 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
| ISHG | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 2.70% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 6.98% | -2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.49% | 9.52% | -3.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 13.79% | -6.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.91% | 16.56% | -9.65% |
ISHG vs. DGRO - Expense Ratio Comparison
ISHG has a 0.35% expense ratio, which is higher than DGRO's 0.08% expense ratio.
Dividends
ISHG vs. DGRO - Dividend Comparison
ISHG's dividend yield for the trailing twelve months is around 1.47%, less than DGRO's 1.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRO iShares Core Dividend Growth ETF | 1.92% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.47% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
Frequently Asked Questions
ISHG and DGRO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGRO has higher volatility (2.70%) compared to ISHG (1.58%). In terms of maximum drawdown, ISHG dropped -37.24% vs DGRO's -35.10%.
On 10-year performance, DGRO leads with 13.30% vs -0.18% for ISHG. On fees, DGRO is cheaper at 0.08% per year. On volatility, ISHG has been the lower-risk option at 1.58%. 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 13.30% return vs -0.18%. 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 0.35% for ISHG.
DGRO has the higher dividend yield at 1.92%, compared with 1.47% for ISHG.
ISHG is categorized as International Government Bonds, while DGRO is Large Cap Growth Equities. ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.35% for ISHG and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.18 vs -0.13), 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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