USXF vs. DGRO

Last updated Jul 14, 2026

USXF (iShares ESG Advanced MSCI USA ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds from iShares - USXF tracks the MSCI USA Choice ESG Screened Index while DGRO tracks the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 5 years, USXF returned 14.32%/yr vs 11.06%/yr for DGRO. A 0.75 correlation means they provide meaningful diversification when combined. USXF charges 0.10%/yr vs 0.08%/yr for DGRO.

Performance

USXF vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Advanced MSCI USA ETF (USXF) 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, USXF achieves a 17.64% return, which is significantly higher than DGRO's 12.23% return.

USXF

• 1D: -1.72%
• 1M: 0.12%
• 6M: 14.63%
• YTD: 17.64%
• 1Y: 25.16%
• 3Y*: 23.84%
• 5Y*: 14.32%
• 10Y*: —

DGRO

• 1D: 0.19%
• 1M: 2.16%
• 6M: 9.63%
• YTD: 12.23%
• 1Y: 21.63%
• 3Y*: 16.92%
• 5Y*: 11.06%
• 10Y*: 13.26%

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

USXF vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USXF iShares ESG Advanced MSCI USA ETF	17.64%	16.97%	26.16%	31.65%	-21.20%	27.14%	23.07%
DGRO iShares Core Dividend Growth ETF	12.23%	15.69%	16.62%	10.47%	-7.91%	26.64%	19.12%

Correlation

The correlation between USXF and DGRO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020	0.75

Over the past year, the correlation between USXF and DGRO has dropped to 0.48 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

USXF vs. DGRO - Sectors Allocation Comparison

Sectors	USXF	DGRO
Technology	54.1%	22.0%
Financial Services	15.3%	20.6%
Industrials	7.9%	10.4%
Consumer Cyclical	6.6%	5.4%
Healthcare	5.8%	16.5%
Real Estate	3.8%	-
Basic Materials	2.3%	2.4%
Communication Services	1.7%	0.1%
Utilities	1.3%	6.4%
Consumer Defensive	1.0%	11.1%
Energy	0.1%	5.1%

Return for Risk

USXF vs. DGRO — Risk / Return Rank

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

USXF

USXF Risk / Return Rank: 55
USXF Sharpe Ratio Rank: 51
USXF Sortino Ratio Rank: 47
USXF Omega Ratio Rank: 48
USXF Calmar Ratio Rank: 62
USXF Martin Ratio Rank: 65

DGRO

DGRO Risk / Return Rank: 86
DGRO Sharpe Ratio Rank: 88
DGRO Sortino Ratio Rank: 90
DGRO Omega Ratio Rank: 87
DGRO Calmar Ratio Rank: 80
DGRO Martin Ratio Rank: 83

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.

USXF vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI USA ETF (USXF) 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.

	USXF	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.29	-0.90
Sortino ratio: Return per unit of downside risk	1.91	3.33	-1.42
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.17
Calmar ratio: Return relative to maximum drawdown	2.48	3.36	-0.88
Martin ratio: Return relative to average drawdown	9.28	12.98	-3.70

USXF vs. DGRO - Sharpe Ratio Comparison

The current USXF Sharpe Ratio is 1.39, which is lower than the DGRO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of USXF 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

USXF vs. DGRO - Drawdown Comparison

The maximum USXF drawdown since its inception was -29.54%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for USXF and DGRO.

Drawdown Indicators

	USXF	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-29.54%	-35.10%	+5.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-6.47%	-3.72%
Max Drawdown (3Y) Largest decline over 3 years	-20.93%	-14.03%	-6.90%
Max Drawdown (5Y) Largest decline over 5 years	-29.54%	-19.31%	-10.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-3.08%	-0.50%	-2.58%
Average Drawdown Average peak-to-trough decline	-6.35%	-3.42%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	1.67%	+1.05%

Volatility

USXF vs. DGRO - Volatility Comparison

iShares ESG Advanced MSCI USA ETF (USXF) has a higher volatility of 7.55% compared to iShares Core Dividend Growth ETF (DGRO) at 2.52%. This indicates that USXF'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.

Volatility by Period

	USXF	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	2.52%	+5.03%
Volatility (6M) Calculated over the trailing 6-month period	15.16%	6.94%	+8.22%
Volatility (1Y) Calculated over the trailing 1-year period	18.17%	9.50%	+8.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.94%	13.79%	+6.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.37%	16.57%	+2.80%

USXF vs. DGRO - Expense Ratio Comparison

USXF has a 0.10% 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

USXF vs. DGRO - Dividend Comparison

USXF's dividend yield for the trailing twelve months is around 0.82%, less than DGRO's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.91%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
USXF iShares ESG Advanced MSCI USA ETF	0.82%	0.93%	1.00%	1.21%	1.39%	0.86%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USXF and DGRO in my portfolio?

USXF and DGRO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USXF or DGRO?

USXF has higher volatility (7.55%) compared to DGRO (2.52%). In terms of maximum drawdown, USXF dropped -29.54% vs DGRO's -35.10%.

Which ETF is better, USXF or DGRO?

On 5-year performance, USXF leads with 14.32% vs 11.06% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USXF or DGRO?

Over the 5-year period, USXF has performed better with a 14.32% return vs 11.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USXF or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.10% for USXF.

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

DGRO has the higher dividend yield at 1.91%, compared with 0.82% for USXF.

What is the main difference between USXF and DGRO?

USXF tracks MSCI USA Choice ESG Screened Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.10% for USXF and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.29 vs 1.39), 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.