VTV vs. DGRO

Last updated Jul 21, 2026

VTV (Vanguard Value ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value 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, VTV returned 12.25%/yr vs 13.13%/yr for DGRO. With a 0.96 correlation, they move nearly in lockstep. VTV charges 0.04%/yr vs 0.08%/yr for DGRO.

Performance

VTV vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) 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, VTV achieves a 14.78% return, which is significantly higher than DGRO's 11.48% return. Over the past 10 years, VTV has underperformed DGRO with an annualized return of 12.25%, while DGRO has yielded a comparatively higher 13.13% annualized return.

VTV

• 1D: -0.45%
• 1M: 0.70%
• 6M: 10.51%
• YTD: 14.78%
• 1Y: 24.67%
• 3Y*: 16.65%
• 5Y*: 12.12%
• 10Y*: 12.25%
• ALL TIME*: 9.62%

DGRO

• 1D: -0.58%
• 1M: 2.50%
• 6M: 8.20%
• YTD: 11.48%
• 1Y: 20.92%
• 3Y*: 15.71%
• 5Y*: 10.91%
• 10Y*: 13.13%
• ALL TIME*: 12.34%

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

VTV vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTV Vanguard Value ETF	14.78%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%
DGRO iShares Core Dividend Growth ETF	11.48%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between VTV and DGRO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.96

The correlation between VTV and DGRO has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

VTV vs. DGRO - Sectors Allocation Comparison

Sectors	VTV	DGRO
Financial Services	22.4%	20.4%
Technology	15.3%	17.3%
Healthcare	15.2%	17.9%
Industrials	14.3%	11.3%
Consumer Defensive	8.7%	11.9%
Energy	6.9%	4.8%
Utilities	4.8%	7.3%
Consumer Cyclical	3.9%	6.5%
Basic Materials	3.0%	2.5%
Communication Services	2.9%	0.1%
Real Estate	2.5%	-

Return for Risk

VTV vs. DGRO — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 90
VTV Sharpe Ratio Rank: 91
VTV Sortino Ratio Rank: 92
VTV Omega Ratio Rank: 89
VTV Calmar Ratio Rank: 89
VTV Martin Ratio Rank: 89

DGRO

DGRO Risk / Return Rank: 86
DGRO Sharpe Ratio Rank: 88
DGRO Sortino Ratio Rank: 89
DGRO Omega Ratio Rank: 87
DGRO Calmar Ratio Rank: 82
DGRO Martin Ratio Rank: 85

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.

VTV vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) 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.

	VTV	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.20	+0.20
Sortino ratio: Return per unit of downside risk	3.50	3.23	+0.27
Omega ratio: Gain probability vs. loss probability	1.43	1.40	+0.03
Calmar ratio: Return relative to maximum drawdown	3.90	3.25	+0.65
Martin ratio: Return relative to average drawdown	14.77	12.53	+2.25

VTV vs. DGRO - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.40, which is comparable to the DGRO Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of VTV 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

VTV vs. DGRO - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for VTV and DGRO.

Drawdown Indicators

	VTV	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-35.10%	-24.17%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-6.47%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-14.03%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-19.31%	+2.27%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	-35.10%	-1.68%
Current Drawdown Current decline from peak	-1.19%	-1.17%	-0.02%
Average Drawdown Average peak-to-trough decline	-7.83%	-3.41%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	1.67%	0.00%

Volatility

VTV vs. DGRO - Volatility Comparison

The current volatility for Vanguard Value ETF (VTV) is 2.58%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.73%. This indicates that VTV 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

	VTV	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	2.73%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	7.14%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	9.56%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.82%	13.78%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	16.58%	+0.03%

VTV vs. DGRO - Expense Ratio Comparison

VTV 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

VTV vs. DGRO - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.89%, less than DGRO's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.93%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
VTV Vanguard Value ETF	1.89%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both VTV and DGRO in my portfolio?

With a correlation of 0.91, VTV 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, VTV or DGRO?

DGRO has higher volatility (2.73%) compared to VTV (2.58%). In terms of maximum drawdown, VTV dropped -59.27% vs DGRO's -35.10%.

Which ETF is better, VTV or DGRO?

On 10-year performance, DGRO leads with 13.13% vs 12.25% for VTV. On fees, VTV is cheaper at 0.04% per year. On volatility, VTV has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTV or DGRO?

Over the 10-year period, DGRO has performed better with a 13.13% return vs 12.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTV or DGRO?

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

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

DGRO has the higher dividend yield at 1.93%, compared with 1.89% for VTV.

What is the main difference between VTV and DGRO?

VTV is categorized as Large Cap Value Equities, while DGRO is Large Cap Growth Equities. VTV tracks CRSP US Large Cap Value 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 VTV and 0.08% for DGRO.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.40 vs 2.20), 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.