IYJ vs. DGRO

Last updated Jun 4, 2026

IYJ (iShares U.S. Industrials ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - IYJ is a Industrials Equities fund tracking the Dow Jones U.S. Industrials 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, IYJ returned 12.31%/yr vs 13.30%/yr for DGRO. Their correlation of 0.90 suggests significant overlap in exposure. IYJ charges 0.38%/yr vs 0.08%/yr for DGRO.

Performance

IYJ vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Industrials ETF (IYJ) 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, IYJ achieves a 5.81% return, which is significantly lower than DGRO's 8.76% return. Over the past 10 years, IYJ has underperformed DGRO with an annualized return of 12.31%, while DGRO has yielded a comparatively higher 13.30% annualized return.

IYJ

• 1D: -0.62%
• 1M: 0.44%
• YTD: 5.81%
• 6M: 7.55%
• 1Y: 12.86%
• 3Y*: 16.95%
• 5Y*: 7.87%
• 10Y*: 12.31%

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)

IYJ vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYJ iShares U.S. Industrials ETF	5.81%	11.94%	17.82%	19.94%	-13.53%	17.02%	17.37%	32.27%	-11.69%	23.98%
DGRO iShares Core Dividend Growth ETF	8.76%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between IYJ and DGRO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.90

The correlation between IYJ and DGRO has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

IYJ vs. DGRO - Sectors Allocation Comparison

Sectors	IYJ	DGRO
Industrials	66.6%	10.8%
Financial Services	17.0%	21.2%
Technology	6.6%	19.4%
Basic Materials	4.0%	2.5%
Utilities	3.6%	6.9%
Consumer Cyclical	1.7%	5.7%
Healthcare	0.4%	16.4%
Communication Services	-	0.1%
Consumer Defensive	-	11.5%
Energy	-	5.6%
Real Estate	-	-

Return for Risk

IYJ vs. DGRO — Risk / Return Rank

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

IYJ

IYJ Risk / Return Rank: 25
IYJ Sharpe Ratio Rank: 24
IYJ Sortino Ratio Rank: 24
IYJ Omega Ratio Rank: 22
IYJ Calmar Ratio Rank: 24
IYJ Martin Ratio Rank: 28

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.

IYJ vs. DGRO - Risk-Adjusted Trends Comparison

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

	IYJ	DGRO	Difference
Sharpe ratio Return per unit of total volatility	0.86	2.39	-1.53
Sortino ratio Return per unit of downside risk	1.32	3.49	-2.16
Omega ratio Gain probability vs. loss probability	1.15	1.43	-0.28
Calmar ratio Return relative to maximum drawdown	1.13	3.50	-2.37
Martin ratio Return relative to average drawdown	4.10	13.52	-9.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYJ vs. DGRO - Sharpe Ratio Comparison

The current IYJ Sharpe Ratio is 0.86, which is lower than the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of IYJ 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

	IYJ	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	2.39	-1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.77	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.80	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.76	-0.39

Drawdowns

IYJ vs. DGRO - Drawdown Comparison

The maximum IYJ drawdown since its inception was -61.97%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for IYJ and DGRO.

Drawdown Indicators

	IYJ	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-61.97%	-35.10%	-26.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.39%	-6.47%	-4.92%
Max Drawdown (3Y) Largest decline over 3 years	-19.67%	-14.03%	-5.64%
Max Drawdown (5Y) Largest decline over 5 years	-26.24%	-19.31%	-6.93%
Max Drawdown (10Y) Largest decline over 10 years	-40.20%	-35.10%	-5.10%
Current Drawdown Current decline from peak	-3.24%	-0.28%	-2.96%
Average Drawdown Average peak-to-trough decline	-11.21%	-3.44%	-7.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	1.67%	+1.47%

Volatility

IYJ vs. DGRO - Volatility Comparison

iShares U.S. Industrials ETF (IYJ) has a higher volatility of 4.05% compared to iShares Core Dividend Growth ETF (DGRO) at 2.21%. This indicates that IYJ'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

	IYJ	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	2.21%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	11.88%	6.91%	+4.97%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	9.48%	+5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	13.82%	+4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	16.62%	+3.25%

IYJ vs. DGRO - Expense Ratio Comparison

IYJ has a 0.38% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

IYJ vs. DGRO - Dividend Comparison

IYJ's dividend yield for the trailing twelve months is around 0.78%, less 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%
IYJ iShares U.S. Industrials ETF	0.78%	0.83%	0.88%	1.05%	1.05%	0.76%	1.01%	1.32%	1.43%	1.29%	1.38%	1.53%

Frequently Asked Questions

Can I hold both IYJ and DGRO in my portfolio?

IYJ and DGRO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYJ or DGRO?

IYJ has higher volatility (4.05%) compared to DGRO (2.21%). In terms of maximum drawdown, IYJ dropped -61.97% vs DGRO's -35.10%.

Which ETF is better, IYJ or DGRO?

On 10-year performance, DGRO leads with 13.30% vs 12.31% for IYJ. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYJ or DGRO?

Over the 10-year period, DGRO has performed better with a 13.30% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYJ or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.38% for IYJ.

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

DGRO has the higher dividend yield at 1.96%, compared with 0.78% for IYJ.

What is the main difference between IYJ and DGRO?

IYJ is categorized as Industrials Equities, while DGRO is Large Cap Growth Equities. IYJ tracks Dow Jones U.S. Industrials Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.38% for IYJ and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 0.86), 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.