ISVL vs. DGRO

Last updated Jun 5, 2026

ISVL (iShares International Developed Small Cap Value Factor ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - ISVL is a Small Cap Value Equities fund tracking the FTSE Developed ex US ex Korea Small Cap Focused Value Index, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 5 years, ISVL returned 10.31%/yr vs 10.72%/yr for DGRO. A 0.70 correlation means they provide meaningful diversification when combined. ISVL charges 0.30%/yr vs 0.08%/yr for DGRO.

Performance

ISVL vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Developed Small Cap Value Factor ETF (ISVL) 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 stocks are quite close, with ISVL having a 9.65% return and DGRO slightly lower at 9.64%.

ISVL

• 1D: 1.10%
• 1M: 1.96%
• YTD: 9.65%
• 6M: 13.29%
• 1Y: 29.05%
• 3Y*: 21.99%
• 5Y*: 10.31%
• 10Y*: —

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)

ISVL vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ISVL iShares International Developed Small Cap Value Factor ETF	9.65%	42.84%	4.58%	17.56%	-13.69%	7.69%
DGRO iShares Core Dividend Growth ETF	9.64%	15.69%	16.62%	10.47%	-7.91%	18.49%

Correlation

The correlation between ISVL and DGRO is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.70

The correlation between ISVL and DGRO has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

ISVL vs. DGRO - Sectors Allocation Comparison

Sectors	ISVL	DGRO
Industrials	23.3%	10.8%
Financial Services	20.8%	21.2%
Real Estate	11.1%	-
Consumer Cyclical	10.4%	5.7%
Basic Materials	9.1%	2.5%
Energy	7.3%	5.6%
Consumer Defensive	5.3%	11.5%
Technology	4.7%	19.4%
Healthcare	3.7%	16.4%
Communication Services	3.0%	0.1%
Utilities	1.5%	6.9%

Return for Risk

ISVL vs. DGRO — Risk / Return Rank

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

ISVL

ISVL Risk / Return Rank: 57
ISVL Sharpe Ratio Rank: 61
ISVL Sortino Ratio Rank: 61
ISVL Omega Ratio Rank: 62
ISVL Calmar Ratio Rank: 48
ISVL Martin Ratio Rank: 54

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.

ISVL vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Developed Small Cap Value Factor ETF (ISVL) 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.

	ISVL	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.53	-0.51
Sortino ratio: Return per unit of downside risk	2.83	3.68	-0.84
Omega ratio: Gain probability vs. loss probability	1.37	1.46	-0.09
Calmar ratio: Return relative to maximum drawdown	2.34	3.71	-1.37
Martin ratio: Return relative to average drawdown	9.17	14.33	-5.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISVL vs. DGRO - Sharpe Ratio Comparison

The current ISVL Sharpe Ratio is 2.02, which is comparable to the DGRO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of ISVL 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

	ISVL	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	2.53	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.78	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.77	-0.06

Drawdowns

ISVL vs. DGRO - Drawdown Comparison

The maximum ISVL drawdown since its inception was -30.48%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ISVL and DGRO.

Drawdown Indicators

	ISVL	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-30.48%	-35.10%	+4.62%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	-6.47%	-6.01%
Max Drawdown (3Y) Largest decline over 3 years	-12.93%	-14.03%	+1.10%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-19.31%	-11.17%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-6.66%	-3.44%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	1.67%	+1.51%

Volatility

ISVL vs. DGRO - Volatility Comparison

iShares International Developed Small Cap Value Factor ETF (ISVL) has a higher volatility of 4.49% compared to iShares Core Dividend Growth ETF (DGRO) at 2.24%. This indicates that ISVL'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

	ISVL	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	2.24%	+2.25%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	6.94%	+5.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.45%	9.49%	+4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	13.82%	+3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	16.62%	+0.16%

ISVL vs. DGRO - Expense Ratio Comparison

ISVL has a 0.30% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

ISVL vs. DGRO - Dividend Comparison

ISVL's dividend yield for the trailing twelve months is around 2.45%, 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%
ISVL iShares International Developed Small Cap Value Factor ETF	2.45%	2.69%	3.92%	3.82%	3.37%	2.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISVL and DGRO in my portfolio?

ISVL and DGRO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISVL or DGRO?

ISVL has higher volatility (4.49%) compared to DGRO (2.24%). In terms of maximum drawdown, ISVL dropped -30.48% vs DGRO's -35.10%.

Which ETF is better, ISVL or DGRO?

On 5-year performance, DGRO leads with 10.72% vs 10.31% for ISVL. 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, ISVL or DGRO?

Over the 5-year period, DGRO has performed better with a 10.72% return vs 10.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISVL or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.30% for ISVL.

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

ISVL has the higher dividend yield at 2.45%, compared with 1.94% for DGRO.

What is the main difference between ISVL and DGRO?

ISVL is categorized as Small Cap Value Equities, while DGRO is Large Cap Growth Equities. ISVL tracks FTSE Developed ex US ex Korea Small Cap Focused Value Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.30% for ISVL and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.53 vs 2.02), 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.