ISMF vs. DGRO

Last updated Jun 4, 2026

ISMF (iShares Managed Futures Active ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - ISMF is a Systematic Trend fund actively managed by iShares, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. ISMF is actively managed, while DGRO is passively managed. Over the past year, ISMF returned 22.64% vs 22.54% for DGRO. At a 0.27 correlation, their price movements are largely independent. ISMF charges 0.80%/yr vs 0.08%/yr for DGRO.

Performance

ISMF vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Managed Futures Active ETF (ISMF) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ISMF having a 8.37% return and DGRO slightly higher at 8.76%.

ISMF

• 1D: 0.83%
• 1M: 1.62%
• YTD: 8.37%
• 6M: 11.16%
• 1Y: 22.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

ISMF vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025
ISMF iShares Managed Futures Active ETF	8.37%	11.58%
DGRO iShares Core Dividend Growth ETF	8.76%	16.97%

Correlation

The correlation between ISMF and DGRO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025	0.27

Return for Risk

ISMF vs. DGRO — Risk / Return Rank

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

ISMF

ISMF Risk / Return Rank: 89
ISMF Sharpe Ratio Rank: 86
ISMF Sortino Ratio Rank: 86
ISMF Omega Ratio Rank: 91
ISMF Calmar Ratio Rank: 91
ISMF Martin Ratio Rank: 89

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.

ISMF vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Managed Futures Active ETF (ISMF) 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.

	ISMF	DGRO	Difference
Sharpe ratio Return per unit of total volatility	2.88	2.39	+0.48
Sortino ratio Return per unit of downside risk	3.91	3.49	+0.42
Omega ratio Gain probability vs. loss probability	1.61	1.43	+0.18
Calmar ratio Return relative to maximum drawdown	5.77	3.50	+2.27
Martin ratio Return relative to average drawdown	19.96	13.52	+6.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISMF vs. DGRO - Sharpe Ratio Comparison

The current ISMF Sharpe Ratio is 2.88, which is comparable to the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ISMF 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

	ISMF	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	2.39	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	0.76	+1.41

Drawdowns

ISMF vs. DGRO - Drawdown Comparison

The maximum ISMF drawdown since its inception was -4.23%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ISMF and DGRO.

Drawdown Indicators

	ISMF	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-35.10%	+30.87%
Max Drawdown (1Y) Largest decline over 1 year	-3.94%	-6.47%	+2.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	0.00%	-0.28%	+0.28%
Average Drawdown Average peak-to-trough decline	-1.27%	-3.44%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	1.67%	-0.53%

Volatility

ISMF vs. DGRO - Volatility Comparison

The current volatility for iShares Managed Futures Active ETF (ISMF) is 1.89%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.21%. This indicates that ISMF 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.

Volatility by Period

	ISMF	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.89%	2.21%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	6.33%	6.91%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.92%	9.48%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.78%	13.82%	-6.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.78%	16.62%	-8.84%

ISMF vs. DGRO - Expense Ratio Comparison

ISMF has a 0.80% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

ISMF vs. DGRO - Dividend Comparison

ISMF's dividend yield for the trailing twelve months is around 5.75%, 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%
ISMF iShares Managed Futures Active ETF	5.75%	6.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISMF and DGRO in my portfolio?

ISMF and DGRO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISMF or DGRO?

DGRO has higher volatility (2.21%) compared to ISMF (1.89%). In terms of maximum drawdown, ISMF dropped -4.23% vs DGRO's -35.10%.

Which ETF is better, ISMF or DGRO?

On 1-year performance, ISMF leads with 22.64% vs 22.54% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, ISMF has been the lower-risk option at 1.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISMF or DGRO?

Over the 1-year period, ISMF has performed better with a 22.64% return vs 22.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISMF or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.80% for ISMF.

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

ISMF has the higher dividend yield at 5.75%, compared with 1.96% for DGRO.

What is the main difference between ISMF and DGRO?

ISMF is categorized as Systematic Trend, while DGRO is Large Cap Growth Equities. Their fees differ too: 0.80% for ISMF and 0.08% for DGRO.

Which has better risk-adjusted returns?

ISMF currently has the higher Sharpe Ratio (2.88 vs 2.39), 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.