VIG vs. DGRO

Last updated Aug 4, 2026

VIG (Vanguard Dividend Appreciation ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - VIG is a Dividend fund tracking the S&P U.S. Dividend Growers 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, VIG returned 12.98%/yr vs 13.38%/yr for DGRO. Their 0.96 correlation means they have historically moved very closely together. VIG charges 0.04%/yr vs 0.08%/yr for DGRO.

Performance

VIG vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Dividend Appreciation ETF (VIG) 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, VIG achieves a 10.16% return, which is significantly lower than DGRO's 13.79% return. Both investments have delivered pretty close results over the past 10 years, with VIG having a 12.98% annualized return and DGRO not far ahead at 13.38%.

VIG

• 1D: 0.41%
• 1M: 0.64%
• 6M: 7.02%
• YTD: 10.16%
• 1Y: 19.59%
• 3Y*: 15.82%
• 5Y*: 10.56%
• 10Y*: 12.98%
• ALL TIME*: 10.24%

DGRO

• 1D: 0.35%
• 1M: 1.32%
• 6M: 9.21%
• YTD: 13.79%
• 1Y: 24.64%
• 3Y*: 17.09%
• 5Y*: 11.15%
• 10Y*: 13.38%
• ALL TIME*: 12.49%

*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	$107.57M	$103.25M	$110.55M
VIG Vanguard Dividend Appreciation ETF	$232.65M	$242.03M	$260.72M

VIG vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIG Vanguard Dividend Appreciation ETF	10.16%	14.17%	16.99%	14.51%	-9.80%	23.76%	15.43%	29.62%	-2.08%	22.22%
DGRO iShares Core Dividend Growth ETF	13.79%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between VIG and DGRO is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.96

The correlation between VIG and DGRO has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

VIG vs. DGRO - Sectors Allocation Comparison

Sectors	VIG	DGRO
Technology	26.9%	17.3%
Financial Services	20.3%	20.4%
Healthcare	17.8%	17.9%
Industrials	11.9%	11.3%
Consumer Defensive	9.2%	11.9%
Consumer Cyclical	4.5%	6.5%
Basic Materials	3.4%	2.5%
Utilities	3.0%	7.3%
Energy	3.0%	4.8%
Communication Services	0.5%	0.1%
Real Estate	-	-

Return for Risk

VIG vs. DGRO — Risk / Return Rank

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

VIG

VIG Risk / Return Rank: 79
VIG Sharpe Ratio Rank: 83
VIG Sortino Ratio Rank: 84
VIG Omega Ratio Rank: 82
VIG Calmar Ratio Rank: 71
VIG Martin Ratio Rank: 78

DGRO

DGRO Risk / Return Rank: 92
DGRO Sharpe Ratio Rank: 94
DGRO Sortino Ratio Rank: 94
DGRO Omega Ratio Rank: 93
DGRO Calmar Ratio Rank: 90
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.

VIG vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Dividend Appreciation ETF (VIG) 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.

	VIG	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.60	-0.64
Sortino ratio: Return per unit of downside risk	2.82	3.77	-0.96
Omega ratio: Gain probability vs. loss probability	1.35	1.48	-0.13
Calmar ratio: Return relative to maximum drawdown	2.49	3.83	-1.34
Martin ratio: Return relative to average drawdown	10.11	14.91	-4.80

VIG vs. DGRO - Sharpe Ratio Comparison

The current VIG Sharpe Ratio is 1.96, which is comparable to the DGRO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of VIG 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

VIG vs. DGRO - Drawdown Comparison

The maximum VIG drawdown since its inception was -46.81%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for VIG and DGRO.

Drawdown Indicators

	VIG	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-46.81%	-35.10%	-11.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.91%	-6.47%	-1.44%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-14.03%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	-19.31%	-1.08%
Max Drawdown (10Y) Largest decline over 10 years	-31.72%	-35.10%	+3.38%
Current Drawdown Current decline from peak	-0.66%	-1.01%	+0.35%
Average Drawdown Average peak-to-trough decline	-5.47%	-3.41%	-2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.66%	+0.28%

Volatility

VIG vs. DGRO - Volatility Comparison

The current volatility for Vanguard Dividend Appreciation ETF (VIG) is 2.57%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.88%. This indicates that VIG experiences smaller price fluctuations and is considered to be less risky than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIG	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	2.88%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	7.62%	7.12%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	10.08%	9.54%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.20%	13.79%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	16.58%	-0.56%

VIG vs. DGRO - Expense Ratio Comparison

VIG has a 0.04% expense ratio, which is lower than DGRO's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VIG vs. DGRO - Dividend Comparison

VIG's dividend yield for the trailing twelve months is around 1.49%, 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%
VIG Vanguard Dividend Appreciation ETF	1.49%	1.62%	1.73%	1.88%	1.96%	1.55%	1.63%	1.71%	2.08%	1.88%	2.14%	2.34%

Frequently Asked Questions

Can I hold both VIG and DGRO in my portfolio?

With a correlation of 0.90, VIG and DGRO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VIG or DGRO?

DGRO has higher volatility (2.88%) compared to VIG (2.57%). In terms of maximum drawdown, VIG dropped -46.81% vs DGRO's -35.10%.

Which ETF is better, VIG or DGRO?

On 10-year performance, DGRO leads with 13.38% vs 12.98% for VIG. On fees, VIG is cheaper at 0.04% per year. On volatility, VIG has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VIG or DGRO?

Over the 10-year period, DGRO has performed better with a 13.38% return vs 12.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VIG or DGRO?

VIG is cheaper with a 0.04% expense ratio, compared with 0.08% for DGRO.

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

DGRO has the higher dividend yield at 1.89%, compared with 1.49% for VIG.

What is the main difference between VIG and DGRO?

VIG is categorized as Dividend, while DGRO is Large Cap Growth Equities. VIG tracks S&P U.S. Dividend Growers Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.04% for VIG and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.60 vs 1.96), 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.