IYE vs. DGRO

Last updated Jun 5, 2026

IYE (iShares U.S. Energy ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - IYE is a Energy Equities fund tracking the Dow Jones U.S. Oil & Gas 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, IYE returned 8.76%/yr vs 13.34%/yr for DGRO. A 0.56 correlation means they provide meaningful diversification when combined. IYE charges 0.42%/yr vs 0.08%/yr for DGRO.

Performance

IYE vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Energy ETF (IYE) 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, IYE achieves a 31.95% return, which is significantly higher than DGRO's 9.64% return. Over the past 10 years, IYE has underperformed DGRO with an annualized return of 8.76%, while DGRO has yielded a comparatively higher 13.34% annualized return.

IYE

• 1D: 0.03%
• 1M: -1.09%
• YTD: 31.95%
• 6M: 28.91%
• 1Y: 46.86%
• 3Y*: 17.38%
• 5Y*: 19.52%
• 10Y*: 8.76%

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)

IYE vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYE iShares U.S. Energy ETF	31.95%	7.33%	6.06%	-2.21%	60.21%	53.42%	-33.49%	10.03%	-19.37%	-1.80%
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 IYE and DGRO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.56

Over the past year, the correlation between IYE and DGRO has dropped to 0.19 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

IYE vs. DGRO - Sectors Allocation Comparison

Sectors	IYE	DGRO
Energy	98.9%	5.6%
Technology	1.1%	19.4%
Basic Materials	-	2.5%
Communication Services	-	0.1%
Consumer Cyclical	-	5.7%
Consumer Defensive	-	11.5%
Financial Services	-	21.2%
Healthcare	-	16.4%
Industrials	-	10.8%
Real Estate	-	-
Utilities	-	6.9%

Return for Risk

IYE vs. DGRO — Risk / Return Rank

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

IYE

IYE Risk / Return Rank: 69
IYE Sharpe Ratio Rank: 73
IYE Sortino Ratio Rank: 67
IYE Omega Ratio Rank: 64
IYE Calmar Ratio Rank: 78
IYE Martin Ratio Rank: 65

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.

IYE vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Energy ETF (IYE) 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.

	IYE	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.53	-0.16
Sortino ratio: Return per unit of downside risk	3.03	3.68	-0.65
Omega ratio: Gain probability vs. loss probability	1.38	1.46	-0.08
Calmar ratio: Return relative to maximum drawdown	3.95	3.71	+0.24
Martin ratio: Return relative to average drawdown	11.64	14.33	-2.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYE vs. DGRO - Sharpe Ratio Comparison

The current IYE Sharpe Ratio is 2.37, which is comparable to the DGRO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of IYE 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

	IYE	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.53	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.78	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.81	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.77	-0.51

Drawdowns

IYE vs. DGRO - Drawdown Comparison

The maximum IYE drawdown since its inception was -73.74%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for IYE and DGRO.

Drawdown Indicators

	IYE	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-73.74%	-35.10%	-38.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-6.47%	-5.45%
Max Drawdown (3Y) Largest decline over 3 years	-20.37%	-14.03%	-6.34%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-19.31%	-6.30%
Max Drawdown (10Y) Largest decline over 10 years	-68.59%	-35.10%	-33.49%
Current Drawdown Current decline from peak	-5.74%	0.00%	-5.74%
Average Drawdown Average peak-to-trough decline	-19.36%	-3.44%	-15.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	1.67%	+2.37%

Volatility

IYE vs. DGRO - Volatility Comparison

iShares U.S. Energy ETF (IYE) has a higher volatility of 7.92% compared to iShares Core Dividend Growth ETF (DGRO) at 2.24%. This indicates that IYE'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

	IYE	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	2.24%	+5.68%
Volatility (6M) Calculated over the trailing 6-month period	16.06%	6.94%	+9.12%
Volatility (1Y) Calculated over the trailing 1-year period	19.96%	9.49%	+10.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.71%	13.82%	+11.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.51%	16.62%	+12.89%

IYE vs. DGRO - Expense Ratio Comparison

IYE has a 0.42% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

IYE vs. DGRO - Dividend Comparison

IYE's dividend yield for the trailing twelve months is around 2.13%, 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%
IYE iShares U.S. Energy ETF	2.13%	2.85%	2.75%	2.99%	3.37%	2.98%	4.75%	6.60%	3.16%	2.66%	2.11%	3.39%

Frequently Asked Questions

Can I hold both IYE and DGRO in my portfolio?

IYE and DGRO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYE or DGRO?

IYE has higher volatility (7.92%) compared to DGRO (2.24%). In terms of maximum drawdown, IYE dropped -73.74% vs DGRO's -35.10%.

Which ETF is better, IYE or DGRO?

On 10-year performance, DGRO leads with 13.34% vs 8.76% for IYE. 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, IYE or DGRO?

Over the 10-year period, DGRO has performed better with a 13.34% return vs 8.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYE or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.42% for IYE.

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

IYE has the higher dividend yield at 2.13%, compared with 1.94% for DGRO.

What is the main difference between IYE and DGRO?

IYE is categorized as Energy Equities, while DGRO is Large Cap Growth Equities. IYE tracks Dow Jones U.S. Oil & Gas Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.42% for IYE and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.53 vs 2.37), 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.