OUSA vs. DGRO

Last updated Jun 4, 2026

OUSA (OShares U.S. Quality Dividend ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds - OUSA tracks the O'Shares US Quality Dividend Index while DGRO tracks the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 10 years, OUSA returned 10.22%/yr vs 13.30%/yr for DGRO. Their correlation of 0.92 suggests significant overlap in exposure. OUSA charges 0.48%/yr vs 0.08%/yr for DGRO.

Performance

OUSA vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OShares U.S. Quality Dividend ETF (OUSA) 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, OUSA achieves a 1.05% return, which is significantly lower than DGRO's 8.76% return. Over the past 10 years, OUSA has underperformed DGRO with an annualized return of 10.22%, while DGRO has yielded a comparatively higher 13.30% annualized return.

OUSA

• 1D: -0.75%
• 1M: 1.02%
• YTD: 1.05%
• 6M: 1.29%
• 1Y: 9.81%
• 3Y*: 12.63%
• 5Y*: 8.62%
• 10Y*: 10.22%

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)

OUSA vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OUSA OShares U.S. Quality Dividend ETF	1.05%	10.23%	17.09%	13.44%	-9.33%	23.75%	6.96%	25.03%	-3.11%	18.81%
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 OUSA and DGRO is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 15, 2015	0.92

The correlation between OUSA and DGRO has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

OUSA vs. DGRO - Sectors Allocation Comparison

Sectors	OUSA	DGRO
Technology	23.4%	19.4%
Financial Services	18.5%	21.2%
Healthcare	14.1%	16.4%
Consumer Cyclical	13.4%	5.7%
Industrials	11.6%	10.8%
Communication Services	11.4%	0.1%
Consumer Defensive	7.6%	11.5%
Basic Materials	-	2.5%
Energy	-	5.6%
Real Estate	-	-
Utilities	-	6.9%

Return for Risk

OUSA vs. DGRO — Risk / Return Rank

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

OUSA

OUSA Risk / Return Rank: 27
OUSA Sharpe Ratio Rank: 28
OUSA Sortino Ratio Rank: 28
OUSA Omega Ratio Rank: 26
OUSA Calmar Ratio Rank: 25
OUSA Martin Ratio Rank: 29

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.

OUSA vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OShares U.S. Quality Dividend ETF (OUSA) 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.

	OUSA	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.01	2.39	-1.38
Sortino ratio: Return per unit of downside risk	1.53	3.49	-1.95
Omega ratio: Gain probability vs. loss probability	1.18	1.43	-0.26
Calmar ratio: Return relative to maximum drawdown	1.18	3.50	-2.32
Martin ratio: Return relative to average drawdown	4.19	13.52	-9.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OUSA vs. DGRO - Sharpe Ratio Comparison

The current OUSA Sharpe Ratio is 1.01, which is lower than the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of OUSA 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

	OUSA	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	2.39	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.77	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.80	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.76	-0.08

Drawdowns

OUSA vs. DGRO - Drawdown Comparison

The maximum OUSA drawdown since its inception was -33.12%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for OUSA and DGRO.

Drawdown Indicators

	OUSA	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-33.12%	-35.10%	+1.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-6.47%	-1.89%
Max Drawdown (3Y) Largest decline over 3 years	-13.14%	-14.03%	+0.89%
Max Drawdown (5Y) Largest decline over 5 years	-19.54%	-19.31%	-0.23%
Max Drawdown (10Y) Largest decline over 10 years	-33.12%	-35.10%	+1.98%
Current Drawdown Current decline from peak	-2.58%	-0.28%	-2.30%
Average Drawdown Average peak-to-trough decline	-3.53%	-3.44%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	1.67%	+0.68%

Volatility

OUSA vs. DGRO - Volatility Comparison

OShares U.S. Quality Dividend ETF (OUSA) and iShares Core Dividend Growth ETF (DGRO) have volatilities of 2.25% and 2.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OUSA	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	2.21%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	7.18%	6.91%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	9.75%	9.48%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.30%	13.82%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.16%	16.62%	-1.46%

OUSA vs. DGRO - Expense Ratio Comparison

OUSA has a 0.48% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

OUSA vs. DGRO - Dividend Comparison

OUSA's dividend yield for the trailing twelve months is around 1.42%, 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%
OUSA OShares U.S. Quality Dividend ETF	1.42%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both OUSA and DGRO in my portfolio?

OUSA and DGRO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OUSA or DGRO?

OUSA has higher volatility (2.25%) compared to DGRO (2.21%). In terms of maximum drawdown, OUSA dropped -33.12% vs DGRO's -35.10%.

Which ETF is better, OUSA or DGRO?

On 10-year performance, DGRO leads with 13.30% vs 10.22% for OUSA. On fees, DGRO is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OUSA or DGRO?

Over the 10-year period, DGRO has performed better with a 13.30% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OUSA or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.48% for OUSA.

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

DGRO has the higher dividend yield at 1.96%, compared with 1.42% for OUSA.

What is the main difference between OUSA and DGRO?

OUSA tracks O'Shares US Quality Dividend Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: O'Shares Investments and iShares. Their fees differ too: 0.48% for OUSA and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 1.01), 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.