LRGF vs. HDV

Last updated Jul 26, 2026

LRGF (iShares MSCI USA Multifactor ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, LRGF returned 13.48%/yr vs 9.50%/yr for HDV. Their 0.63 correlation means they have sometimes moved together and sometimes differently. LRGF charges 0.20%/yr vs 0.08%/yr for HDV.

Performance

LRGF vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Multifactor ETF (LRGF) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LRGF achieves a 8.94% return, which is significantly lower than HDV's 20.12% return. Over the past 10 years, LRGF has outperformed HDV with an annualized return of 13.48%, while HDV has yielded a comparatively lower 9.50% annualized return.

LRGF

• 1D: 0.09%
• 1M: 1.20%
• 6M: 8.82%
• YTD: 8.94%
• 1Y: 15.34%
• 3Y*: 19.41%
• 5Y*: 13.20%
• 10Y*: 13.48%
• ALL TIME*: 12.23%

HDV

• 1D: 1.23%
• 1M: 4.76%
• 6M: 13.60%
• YTD: 20.12%
• 1Y: 24.04%
• 3Y*: 15.34%
• 5Y*: 12.15%
• 10Y*: 9.50%
• ALL TIME*: 10.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HDV iShares Core High Dividend ETF	$163.75M	$142.23M	$95.79M
LRGF iShares MSCI USA Multifactor ETF	$11.35M	$13.93M	$11.55M

LRGF vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LRGF iShares MSCI USA Multifactor ETF	8.94%	16.48%	26.59%	25.85%	-14.77%	25.01%	11.11%	26.11%	-9.66%	21.13%
HDV iShares Core High Dividend ETF	20.12%	11.90%	14.16%	1.72%	7.05%	19.45%	-6.48%	20.22%	-3.01%	13.40%

Correlation

The correlation between LRGF and HDV is 0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.00
Correlation (3Y) Balances recent behavior with more history.	0.30
Correlation (5Y) Shows whether the relationship held over a longer period.	0.52
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Apr 30, 2015	0.63

Over the past year, the correlation between LRGF and HDV has dropped to 0.00 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

LRGF vs. HDV - Sectors Allocation Comparison

Sectors	LRGF	HDV
Technology	37.3%	0.9%
Financial Services	11.7%	4.7%
Consumer Cyclical	10.5%	9.3%
Communication Services	10.0%	5.2%
Healthcare	9.4%	23.9%
Industrials	8.3%	2.8%
Consumer Defensive	4.9%	24.3%
Energy	3.1%	19.8%
Utilities	2.0%	8.2%
Basic Materials	1.8%	0.8%
Real Estate	1.1%	-

Return for Risk

LRGF vs. HDV — Risk / Return Rank

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

LRGF

LRGF Risk / Return Rank: 52
LRGF Sharpe Ratio Rank: 52
LRGF Sortino Ratio Rank: 51
LRGF Omega Ratio Rank: 50
LRGF Calmar Ratio Rank: 51
LRGF Martin Ratio Rank: 59

HDV

HDV Risk / Return Rank: 90
HDV Sharpe Ratio Rank: 91
HDV Sortino Ratio Rank: 93
HDV Omega Ratio Rank: 88
HDV Calmar Ratio Rank: 93
HDV Martin Ratio Rank: 87

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.

LRGF vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Multifactor ETF (LRGF) and iShares Core High Dividend ETF (HDV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LRGF	HDV	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.24	-0.99
Sortino ratio: Return per unit of downside risk	1.77	3.39	-1.62
Omega ratio: Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio: Return relative to maximum drawdown	1.78	4.65	-2.87
Martin ratio: Return relative to average drawdown	6.95	12.72	-5.76

LRGF vs. HDV - Sharpe Ratio Comparison

The current LRGF Sharpe Ratio is 1.25, which is lower than the HDV Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of LRGF and HDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LRGF vs. HDV - Drawdown Comparison

The maximum LRGF drawdown since its inception was -36.03%, roughly equal to the maximum HDV drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for LRGF and HDV.

Drawdown Indicators

	LRGF	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-36.03%	-37.04%	+1.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-5.18%	-3.74%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-10.49%	-8.95%
Max Drawdown (5Y) Largest decline over 5 years	-21.62%	-15.42%	-6.20%
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	-37.04%	+1.01%
Current Drawdown Current decline from peak	-2.11%	0.00%	-2.11%
Average Drawdown Average peak-to-trough decline	-4.51%	-3.07%	-1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	1.89%	+0.39%

Volatility

LRGF vs. HDV - Volatility Comparison

The current volatility for iShares MSCI USA Multifactor ETF (LRGF) is 2.90%, while iShares Core High Dividend ETF (HDV) has a volatility of 4.88%. This indicates that LRGF experiences smaller price fluctuations and is considered to be less risky than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LRGF	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	4.88%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	9.83%	8.55%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	10.74%	+1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	12.93%	+4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	15.77%	+2.51%

LRGF vs. HDV - Expense Ratio Comparison

LRGF has a 0.20% expense ratio, which is higher than HDV's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LRGF vs. HDV - Dividend Comparison

LRGF's dividend yield for the trailing twelve months is around 1.09%, less than HDV's 3.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	3.07%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%
LRGF iShares MSCI USA Multifactor ETF	1.09%	1.16%	1.23%	1.49%	1.78%	1.05%	1.35%	1.76%	3.27%	1.68%	1.56%	0.83%

Frequently Asked Questions

Can I hold both LRGF and HDV in my portfolio?

LRGF and HDV have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LRGF or HDV?

HDV has higher volatility (4.88%) compared to LRGF (2.90%). In terms of maximum drawdown, LRGF dropped -36.03% vs HDV's -37.04%.

Which ETF is better, LRGF or HDV?

On 10-year performance, LRGF leads with 13.48% vs 9.50% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, LRGF has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LRGF or HDV?

Over the 10-year period, LRGF has performed better with a 13.48% return vs 9.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LRGF or HDV?

HDV is cheaper with a 0.08% expense ratio, compared with 0.20% for LRGF.

Which ETF pays a higher dividend yield, LRGF or HDV?

HDV has the higher dividend yield at 3.07%, compared with 1.09% for LRGF.

What is the main difference between LRGF and HDV?

LRGF is categorized as Large Cap Blend Equities, while HDV is Dividend. LRGF tracks MSCI USA Diversified Multi-Factor, while HDV tracks Morningstar Dividend Yield Focus Index. Their fees differ too: 0.20% for LRGF and 0.08% for HDV.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (2.24 vs 1.25), 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.