SAWG vs. DGRO

Last updated Aug 2, 2026

SAWG (AAM Sawgrass U.S. Large Cap Quality Growth ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - SAWG is a Quality Factor fund actively managed by AAM, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. SAWG is actively managed, while DGRO is passively managed. Over the past year, SAWG returned 17.21% vs 24.21% for DGRO. Their 0.64 correlation means they have sometimes moved together and sometimes differently. SAWG charges 0.49%/yr vs 0.08%/yr for DGRO.

Performance

SAWG vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Sawgrass U.S. Large Cap Quality Growth ETF (SAWG) 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, SAWG achieves a 8.37% return, which is significantly lower than DGRO's 13.39% return.

SAWG

• 1D: 0.52%
• 1M: 0.10%
• 6M: 8.55%
• YTD: 8.37%
• 1Y: 17.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.12%

DGRO

• 1D: -0.28%
• 1M: 0.97%
• 6M: 9.59%
• YTD: 13.39%
• 1Y: 24.21%
• 3Y*: 16.30%
• 5Y*: 11.08%
• 10Y*: 13.44%
• ALL TIME*: 12.47%

*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)
DGRO iShares Core Dividend Growth ETF	$103.52M	$104.25M	$110.17M
SAWG AAM Sawgrass U.S. Large Cap Quality Growth ETF	$20.88K	$32.12K	$31.74K

SAWG vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SAWG AAM Sawgrass U.S. Large Cap Quality Growth ETF	8.37%	11.30%	6.07%
DGRO iShares Core Dividend Growth ETF	13.39%	15.69%	3.43%

Correlation

The correlation between SAWG and DGRO is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024	0.64

The correlation between SAWG and DGRO shifts across timeframes, from 0.52 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

SAWG vs. DGRO - Sectors Allocation Comparison

Sectors	SAWG	DGRO
Technology	46.2%	17.3%
Healthcare	15.4%	17.9%
Consumer Cyclical	11.3%	6.5%
Industrials	8.8%	11.3%
Financial Services	7.5%	20.4%
Communication Services	6.9%	0.1%
Consumer Defensive	3.8%	11.9%
Basic Materials	-	2.5%
Energy	-	4.8%
Real Estate	-	-
Utilities	-	7.3%

Return for Risk

SAWG vs. DGRO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SAWG

SAWG Risk / Return Rank: 46
SAWG Sharpe Ratio Rank: 48
SAWG Sortino Ratio Rank: 47
SAWG Omega Ratio Rank: 45
SAWG Calmar Ratio Rank: 40
SAWG Martin Ratio Rank: 49

DGRO

DGRO Risk / Return Rank: 91
DGRO Sharpe Ratio Rank: 93
DGRO Sortino Ratio Rank: 93
DGRO Omega Ratio Rank: 92
DGRO Calmar Ratio Rank: 88
DGRO Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SAWG vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Sawgrass U.S. Large Cap Quality Growth ETF (SAWG) 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.

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.

	SAWG	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.44	-1.24
Sortino ratio: Return per unit of downside risk	1.72	3.55	-1.83
Omega ratio: Gain probability vs. loss probability	1.21	1.45	-0.24
Calmar ratio: Return relative to maximum drawdown	1.40	3.61	-2.21
Martin ratio: Return relative to average drawdown	5.64	14.07	-8.42

SAWG vs. DGRO - Sharpe Ratio Comparison

The current SAWG Sharpe Ratio is 1.20, which is lower than the DGRO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of SAWG 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.

Drawdowns

SAWG vs. DGRO - Drawdown Comparison

The maximum SAWG drawdown since its inception was -18.68%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for SAWG and DGRO.

Drawdown Indicators

	SAWG	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-18.68%	-35.10%	+16.42%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-6.47%	-4.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-1.58%	-1.35%	-0.23%
Average Drawdown Average peak-to-trough decline	-2.57%	-3.41%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.66%	+1.14%

Volatility

SAWG vs. DGRO - Volatility Comparison

AAM Sawgrass U.S. Large Cap Quality Growth ETF (SAWG) and iShares Core Dividend Growth ETF (DGRO) have volatilities of 3.28% and 3.21%, 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

	SAWG	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	3.21%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	7.12%	+3.37%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	9.61%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	13.79%	+2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	16.58%	-0.53%

SAWG vs. DGRO - Expense Ratio Comparison

SAWG has a 0.49% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

SAWG vs. DGRO - Dividend Comparison

SAWG's dividend yield for the trailing twelve months is around 0.25%, less than DGRO's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.89%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
SAWG AAM Sawgrass U.S. Large Cap Quality Growth ETF	0.25%	0.27%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SAWG and DGRO in my portfolio?

SAWG and DGRO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAWG or DGRO?

SAWG has higher volatility (3.28%) compared to DGRO (3.21%). In terms of maximum drawdown, SAWG dropped -18.68% vs DGRO's -35.10%.

Which ETF is better, SAWG or DGRO?

On 1-year performance, DGRO leads with 24.21% vs 17.21% for SAWG. 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, SAWG or DGRO?

Over the 1-year period, DGRO has performed better with a 24.21% return vs 17.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SAWG or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.49% for SAWG.

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

DGRO has the higher dividend yield at 1.89%, compared with 0.25% for SAWG.

What is the main difference between SAWG and DGRO?

SAWG is categorized as Quality Factor, while DGRO is Large Cap Growth Equities. They also come from different issuers: AAM and iShares. Their fees differ too: 0.49% for SAWG and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.44 vs 1.20), 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.