PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SIZE vs. DGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SIZE vs. DGRO

Last updated Aug 2, 2026
Documentation

SIZE (iShares MSCI USA Size Factor ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - SIZE is a Mid Cap Blend Equities fund tracking the MSCI USA Low Size 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, SIZE returned 11.70%/yr vs 13.44%/yr for DGRO. Their correlation of 0.87 means they have usually moved in the same direction. SIZE charges 0.15%/yr vs 0.08%/yr for DGRO.

Performance

SIZE vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Size Factor ETF (SIZE) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SIZE achieves a 11.20% return, which is significantly lower than DGRO's 13.39% return. Over the past 10 years, SIZE has underperformed DGRO with an annualized return of 11.70%, while DGRO has yielded a comparatively higher 13.44% annualized return.

SIZE

1D
-0.35%
1M
0.26%
6M
8.60%
YTD
11.20%
1Y
17.37%
3Y*
13.59%
5Y*
7.99%
10Y*
11.70%
ALL TIME*
11.92%

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

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DGRO

iShares Core Dividend Growth ETF
$103.52M$104.25M$110.17M

SIZE

iShares MSCI USA Size Factor ETF
$662.14K$788.99K$1.01M

SIZE vs. DGRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SIZE
iShares MSCI USA Size Factor ETF		11.20%10.51%14.37%17.78%-15.86%25.05%16.26%28.97%-6.59%18.76%
DGRO
iShares Core Dividend Growth ETF		13.39%15.69%16.62%10.47%-7.91%26.64%9.50%29.87%-2.38%23.00%

Correlation

The correlation between SIZE and DGRO is 0.80, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.80

Correlation (3Y)
Balances recent behavior with more history.

0.88

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.90

Correlation (10Y)
Provides a long-term view across more market conditions.

0.90

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.87

The correlation between SIZE and DGRO has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.

SIZE vs. DGRO - Sectors Allocation Comparison

Sectors
SIZE
DGRO

Technology

18.6%
17.3%

Financial Services

15.7%
20.4%

Industrials

14.8%
11.3%

Healthcare

11.4%
17.9%

Consumer Cyclical

10.9%
6.5%

Utilities

5.6%
7.3%

Consumer Defensive

5.5%
11.9%

Real Estate

5.3%

-

Basic Materials

4.9%
2.5%

Energy

3.8%
4.8%

Communication Services

3.3%
0.1%

Technology

SIZE
18.6%
DGRO
17.3%

Financial Services

SIZE
15.7%
DGRO
20.4%

Industrials

SIZE
14.8%
DGRO
11.3%

Healthcare

SIZE
11.4%
DGRO
17.9%

Consumer Cyclical

SIZE
10.9%
DGRO
6.5%

Utilities

SIZE
5.6%
DGRO
7.3%

Consumer Defensive

SIZE
5.5%
DGRO
11.9%

Real Estate

SIZE
5.3%
DGRO

-

Basic Materials

SIZE
4.9%
DGRO
2.5%

Energy

SIZE
3.8%
DGRO
4.8%

Communication Services

SIZE
3.3%
DGRO
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Size Factor ETF

iShares Core Dividend Growth ETF

Often compared with SIZE:
SIZE vs. XLGSIZE vs. SPYSIZE vs. QUALSIZE vs. QDVA.DESIZE vs. VIGSIZE vs. VOOSIZE vs. QGRO
Often compared with DGRO:
DGRO vs. SCHDDGRO vs. VIGDGRO vs. VYMDGRO vs. VOODGRO vs. DGRWDGRO vs. DIVODGRO vs. HDV

Return for Risk

SIZE vs. DGRO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SIZE
SIZE Risk / Return Rank: 5555
Overall Rank
SIZE Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SIZE Sortino Ratio Rank: 5353
Sortino Ratio Rank
SIZE Omega Ratio Rank: 4848
Omega Ratio Rank
SIZE Calmar Ratio Rank: 5757
Calmar Ratio Rank
SIZE Martin Ratio Rank: 6565
Martin Ratio Rank
DGRO
DGRO Risk / Return Rank: 9191
Overall Rank
DGRO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
DGRO Sortino Ratio Rank: 9393
Sortino Ratio Rank
DGRO Omega Ratio Rank: 9292
Omega Ratio Rank
DGRO Calmar Ratio Rank: 8888
Calmar Ratio Rank
DGRO Martin Ratio Rank: 9090
Martin Ratio Rank
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.

SIZE vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Size Factor ETF (SIZE) 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.

SIZEDGRODifference
Sharpe ratioReturn per unit of total volatility
1.25
2.44

-1.19

Sortino ratioReturn per unit of downside risk
1.87
3.55

-1.68

Omega ratioGain probability vs. loss probability

1.22

1.45

-0.23

Calmar ratioReturn relative to maximum drawdown

2.02

3.61

-1.59

Martin ratioReturn relative to average drawdown

7.91

14.07

-6.15

SIZE vs. DGRO - Sharpe Ratio Comparison

The current SIZE Sharpe Ratio is 1.25, which is lower than the DGRO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of SIZE 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.

Loading charts...

Drawdowns

SIZE vs. DGRO - Drawdown Comparison

The maximum SIZE drawdown since its inception was -39.15%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for SIZE and DGRO.

Loading charts...

Drawdown Indicators

SIZEDGRODifference

Max Drawdown

Largest peak-to-trough decline

-39.15%

-35.10%

-4.05%

Max Drawdown (1Y)

Largest decline over 1 year

-7.97%

-6.47%

-1.50%

Max Drawdown (3Y)

Largest decline over 3 years

-18.71%

-14.03%

-4.68%

Max Drawdown (5Y)

Largest decline over 5 years

-24.03%

-19.31%

-4.72%

Max Drawdown (10Y)

Largest decline over 10 years

-39.15%

-35.10%

-4.05%

Current Drawdown

Current decline from peak

-1.39%

-1.35%

-0.04%

Average Drawdown

Average peak-to-trough decline

-4.14%

-3.41%

-0.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

1.66%

+0.37%

Volatility

SIZE vs. DGRO - Volatility Comparison

iShares MSCI USA Size Factor ETF (SIZE) and iShares Core Dividend Growth ETF (DGRO) have volatilities of 3.12% 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.

Loading charts...

Volatility by Period

SIZEDGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.12%

3.21%

-0.09%

Volatility (6M)

Calculated over the trailing 6-month period

9.56%

7.12%

+2.44%

Volatility (1Y)

Calculated over the trailing 1-year period

12.93%

9.61%

+3.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.40%

13.79%

+3.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.67%

16.58%

+2.09%

SIZE vs. DGRO - Expense Ratio Comparison

SIZE has a 0.15% expense ratio, which is higher than DGRO'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

SIZE vs. DGRO - Dividend Comparison

SIZE's dividend yield for the trailing twelve months is around 1.37%, less than DGRO's 1.89% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SIZE
iShares MSCI USA Size Factor ETF		1.37%1.50%1.53%1.42%1.59%1.19%1.43%1.35%2.43%1.58%1.88%1.95%

Frequently Asked Questions

SIZE and DGRO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DGRO has higher volatility (3.21%) compared to SIZE (3.12%). In terms of maximum drawdown, SIZE dropped -39.15% vs DGRO's -35.10%.

On 10-year performance, DGRO leads with 13.44% vs 11.70% for SIZE. 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.

Over the 10-year period, DGRO has performed better with a 13.44% return vs 11.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DGRO is cheaper with a 0.08% expense ratio, compared with 0.15% for SIZE.

DGRO has the higher dividend yield at 1.89%, compared with 1.37% for SIZE.

SIZE is categorized as Mid Cap Blend Equities, while DGRO is Large Cap Growth Equities. SIZE tracks MSCI USA Low Size Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.15% for SIZE and 0.08% for DGRO.

DGRO currently has the higher Sharpe Ratio (2.44 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.

Portfolio Optimizer

Find the right allocation for SIZE and DGRO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer