KSA vs. DGRO

Last updated Jun 4, 2026

KSA (iShares MSCI Saudi Arabia ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - KSA is a Emerging Markets Equities fund tracking the MSCI Saudi Arabia Investable Market Index (IMI) 25/50 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, KSA returned 7.46%/yr vs 13.30%/yr for DGRO. At a 0.37 correlation, their price movements are largely independent. KSA charges 0.74%/yr vs 0.08%/yr for DGRO.

Performance

KSA vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Saudi Arabia ETF (KSA) 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, KSA achieves a 4.97% return, which is significantly lower than DGRO's 8.76% return. Over the past 10 years, KSA has underperformed DGRO with an annualized return of 7.46%, while DGRO has yielded a comparatively higher 13.30% annualized return.

KSA

• 1D: -1.27%
• 1M: -1.32%
• YTD: 4.97%
• 6M: 4.43%
• 1Y: 3.56%
• 3Y*: 0.52%
• 5Y*: 1.95%
• 10Y*: 7.46%

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)

KSA vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KSA iShares MSCI Saudi Arabia ETF	4.97%	-8.20%	-0.19%	15.05%	-6.06%	33.62%	2.65%	9.30%	13.07%	6.14%
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 KSA and DGRO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Sep 18, 2015	0.37

KSA vs. DGRO - Sectors Allocation Comparison

Sectors	KSA	DGRO
Financial Services	39.7%	21.2%
Basic Materials	13.3%	2.5%
Energy	13.0%	5.6%
Communication Services	8.2%	0.1%
Utilities	4.6%	6.9%
Industrials	4.4%	10.8%
Healthcare	4.3%	16.4%
Consumer Defensive	3.8%	11.5%
Real Estate	3.5%	-
Consumer Cyclical	2.3%	5.7%
Technology	2.2%	19.4%

Return for Risk

KSA vs. DGRO — Risk / Return Rank

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

KSA

KSA Risk / Return Rank: 12
KSA Sharpe Ratio Rank: 11
KSA Sortino Ratio Rank: 12
KSA Omega Ratio Rank: 11
KSA Calmar Ratio Rank: 12
KSA Martin Ratio Rank: 12

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.

KSA vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Saudi Arabia ETF (KSA) 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.

	KSA	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	0.21	2.39	-2.18
Sortino ratio: Return per unit of downside risk	0.47	3.49	-3.01
Omega ratio: Gain probability vs. loss probability	1.05	1.43	-0.38
Calmar ratio: Return relative to maximum drawdown	0.31	3.50	-3.19
Martin ratio: Return relative to average drawdown	0.69	13.52	-12.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KSA vs. DGRO - Sharpe Ratio Comparison

The current KSA Sharpe Ratio is 0.21, which is lower than the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of KSA 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

	KSA	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	2.39	-2.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.77	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.80	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.76	-0.46

Drawdowns

KSA vs. DGRO - Drawdown Comparison

The maximum KSA drawdown since its inception was -40.56%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for KSA and DGRO.

Drawdown Indicators

	KSA	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-40.56%	-35.10%	-5.46%
Max Drawdown (1Y) Largest decline over 1 year	-11.62%	-6.47%	-5.15%
Max Drawdown (3Y) Largest decline over 3 years	-15.56%	-14.03%	-1.53%
Max Drawdown (5Y) Largest decline over 5 years	-28.08%	-19.31%	-8.77%
Max Drawdown (10Y) Largest decline over 10 years	-40.56%	-35.10%	-5.46%
Current Drawdown Current decline from peak	-16.69%	-0.28%	-16.41%
Average Drawdown Average peak-to-trough decline	-11.43%	-3.44%	-7.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	1.67%	+3.51%

Volatility

KSA vs. DGRO - Volatility Comparison

iShares MSCI Saudi Arabia ETF (KSA) has a higher volatility of 3.70% compared to iShares Core Dividend Growth ETF (DGRO) at 2.21%. This indicates that KSA'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

	KSA	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	2.21%	+1.49%
Volatility (6M) Calculated over the trailing 6-month period	12.20%	6.91%	+5.29%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	9.48%	+7.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.88%	13.82%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	16.62%	+3.42%

KSA vs. DGRO - Expense Ratio Comparison

KSA has a 0.74% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

KSA vs. DGRO - Dividend Comparison

KSA's dividend yield for the trailing twelve months is around 2.81%, 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%
KSA iShares MSCI Saudi Arabia ETF	2.81%	2.95%	3.44%	2.44%	1.93%	1.58%	1.76%	2.15%	2.51%	2.30%	3.05%	0.04%

Frequently Asked Questions

Can I hold both KSA and DGRO in my portfolio?

KSA and DGRO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KSA or DGRO?

KSA has higher volatility (3.70%) compared to DGRO (2.21%). In terms of maximum drawdown, KSA dropped -40.56% vs DGRO's -35.10%.

Which ETF is better, KSA or DGRO?

On 10-year performance, DGRO leads with 13.30% vs 7.46% for KSA. 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, KSA or DGRO?

Over the 10-year period, DGRO has performed better with a 13.30% return vs 7.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KSA or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.74% for KSA.

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

KSA has the higher dividend yield at 2.81%, compared with 1.96% for DGRO.

What is the main difference between KSA and DGRO?

KSA is categorized as Emerging Markets Equities, while DGRO is Large Cap Growth Equities. KSA tracks MSCI Saudi Arabia Investable Market Index (IMI) 25/50 Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.74% for KSA and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 0.21), 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.