TOPC vs. DGRO
TOPC (iShares S&P 500 3% Capped ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - TOPC is a Large Cap Blend Equities fund tracking the S&P 500 3% Capped Index, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past year, TOPC returned 22.63% vs 21.90% for DGRO. A 0.77 correlation means they provide meaningful diversification when combined. TOPC charges 0.09%/yr vs 0.08%/yr for DGRO.
Performance
TOPC vs. DGRO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TOPC achieves a 11.31% return, which is significantly higher than DGRO's 10.40% return.
TOPC
- 1D
- 1.05%
- 1M
- 0.07%
- YTD
- 11.31%
- 6M
- 10.23%
- 1Y
- 22.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DGRO
- 1D
- 0.20%
- 1M
- 1.82%
- YTD
- 10.40%
- 6M
- 9.41%
- 1Y
- 21.90%
- 3Y*
- 16.43%
- 5Y*
- 11.06%
- 10Y*
- 13.37%
TOPC vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TOPC iShares S&P 500 3% Capped ETF | 11.31% | 25.80% |
DGRO iShares Core Dividend Growth ETF | 10.40% | 20.13% |
Correlation
The correlation between TOPC and DGRO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025 | 0.77 |
The correlation between TOPC and DGRO has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TOPC vs. DGRO — Risk / Return Rank
TOPC
DGRO
TOPC vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 3% Capped ETF (TOPC) 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.
| TOPC | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.42 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 3.40 | -0.57 |
| Martin ratioReturn relative to average drawdown | 12.77 | 13.11 | -0.34 |
Loading charts...
Drawdowns
TOPC vs. DGRO - Drawdown Comparison
The maximum TOPC drawdown since its inception was -8.04%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for TOPC and DGRO.
Loading charts...
Drawdown Indicators
| TOPC | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.04% | -35.10% | +27.06% |
Max Drawdown (1Y)Largest decline over 1 year | -8.04% | -6.47% | -1.57% |
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 DrawdownCurrent decline from peak | -0.63% | 0.00% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -3.43% | +2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.67% | +0.11% |
Volatility
TOPC vs. DGRO - Volatility Comparison
iShares S&P 500 3% Capped ETF (TOPC) has a higher volatility of 4.78% compared to iShares Core Dividend Growth ETF (DGRO) at 2.48%. This indicates that TOPC'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.
Loading charts...
Volatility by Period
| TOPC | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.78% | 2.48% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 9.52% | 6.92% | +2.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.95% | 9.48% | +2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.54% | 13.79% | -1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.54% | 16.57% | -4.03% |
TOPC vs. DGRO - Expense Ratio Comparison
TOPC has a 0.09% 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
TOPC vs. DGRO - Dividend Comparison
TOPC's dividend yield for the trailing twelve months is around 1.04%, less than DGRO's 1.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRO iShares Core Dividend Growth ETF | 1.95% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
TOPC iShares S&P 500 3% Capped ETF | 1.04% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TOPC and DGRO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TOPC has higher volatility (4.78%) compared to DGRO (2.48%). In terms of maximum drawdown, TOPC dropped -8.04% vs DGRO's -35.10%.
On 1-year performance, TOPC leads with 22.63% vs 21.90% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TOPC has performed better with a 22.63% return vs 21.90%. 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 0.09% for TOPC.
DGRO has the higher dividend yield at 1.95%, compared with 1.04% for TOPC.
TOPC is categorized as Large Cap Blend Equities, while DGRO is Large Cap Growth Equities. TOPC tracks S&P 500 3% Capped Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.09% for TOPC and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.32 vs 1.91), 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.
Find the right allocation for TOPC 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