VYM vs. DGRO

Last updated Aug 4, 2026

VYM (Vanguard High Dividend Yield ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - VYM is a Dividend fund tracking the FTSE High Dividend Yield 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, VYM returned 11.68%/yr vs 13.38%/yr for DGRO. Their 0.96 correlation means they have historically moved very closely together. VYM charges 0.04%/yr vs 0.08%/yr for DGRO.

Performance

VYM vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High Dividend Yield ETF (VYM) 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, VYM achieves a 14.80% return, which is significantly higher than DGRO's 13.79% return. Over the past 10 years, VYM has underperformed DGRO with an annualized return of 11.68%, while DGRO has yielded a comparatively higher 13.38% annualized return.

VYM

• 1D: 0.51%
• 1M: 2.08%
• 6M: 9.09%
• YTD: 14.80%
• 1Y: 25.54%
• 3Y*: 17.71%
• 5Y*: 12.36%
• 10Y*: 11.68%
• ALL TIME*: 9.40%

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
VYM Vanguard High Dividend Yield ETF	$204.09M	$201.36M	$203.61M

VYM vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VYM Vanguard High Dividend Yield ETF	14.80%	15.42%	17.60%	6.57%	-0.43%	26.20%	1.15%	24.06%	-5.92%	16.42%
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 VYM and DGRO is 0.92, 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.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.96

The correlation between VYM and DGRO has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

VYM vs. DGRO - Sectors Allocation Comparison

Sectors	VYM	DGRO
Financial Services	21.0%	20.4%
Technology	17.8%	17.3%
Healthcare	13.2%	17.9%
Industrials	12.6%	11.3%
Energy	8.6%	4.8%
Consumer Defensive	8.1%	11.9%
Consumer Cyclical	6.8%	6.5%
Utilities	5.7%	7.3%
Basic Materials	3.3%	2.5%
Communication Services	3.0%	0.1%
Real Estate	0.0%	-

Return for Risk

VYM vs. DGRO — Risk / Return Rank

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

VYM

VYM Risk / Return Rank: 92
VYM Sharpe Ratio Rank: 93
VYM Sortino Ratio Rank: 93
VYM Omega Ratio Rank: 92
VYM Calmar Ratio Rank: 90
VYM Martin Ratio Rank: 90

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.

VYM vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High Dividend Yield ETF (VYM) 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.

	VYM	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.60	-0.08
Sortino ratio: Return per unit of downside risk	3.60	3.77	-0.17
Omega ratio: Gain probability vs. loss probability	1.46	1.48	-0.01
Calmar ratio: Return relative to maximum drawdown	3.83	3.83	+0.01
Martin ratio: Return relative to average drawdown	14.40	14.91	-0.50

VYM vs. DGRO - Sharpe Ratio Comparison

The current VYM Sharpe Ratio is 2.52, which is comparable to the DGRO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of VYM 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

VYM vs. DGRO - Drawdown Comparison

The maximum VYM drawdown since its inception was -56.98%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for VYM and DGRO.

Drawdown Indicators

	VYM	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-56.98%	-35.10%	-21.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.69%	-6.47%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-14.46%	-14.03%	-0.43%
Max Drawdown (5Y) Largest decline over 5 years	-15.84%	-19.31%	+3.47%
Max Drawdown (10Y) Largest decline over 10 years	-35.21%	-35.10%	-0.11%
Current Drawdown Current decline from peak	-0.64%	-1.01%	+0.37%
Average Drawdown Average peak-to-trough decline	-7.14%	-3.41%	-3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	1.66%	+0.12%

Volatility

VYM vs. DGRO - Volatility Comparison

The current volatility for Vanguard High Dividend Yield ETF (VYM) is 2.40%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.88%. This indicates that VYM 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

	VYM	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	2.88%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	7.43%	7.12%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.19%	9.54%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.87%	13.79%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.30%	16.58%	-0.28%

VYM vs. DGRO - Expense Ratio Comparison

VYM 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

VYM vs. DGRO - Dividend Comparison

VYM's dividend yield for the trailing twelve months is around 2.23%, more 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%
VYM Vanguard High Dividend Yield ETF	2.23%	2.44%	2.74%	3.12%	3.01%	2.76%	3.18%	3.03%	3.40%	2.80%	2.91%	3.22%

Frequently Asked Questions

Can I hold both VYM and DGRO in my portfolio?

With a correlation of 0.92, VYM 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, VYM or DGRO?

DGRO has higher volatility (2.88%) compared to VYM (2.40%). In terms of maximum drawdown, VYM dropped -56.98% vs DGRO's -35.10%.

Which ETF is better, VYM or DGRO?

On 10-year performance, DGRO leads with 13.38% vs 11.68% for VYM. On fees, VYM is cheaper at 0.04% per year. On volatility, VYM has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VYM or DGRO?

Over the 10-year period, DGRO has performed better with a 13.38% return vs 11.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VYM or DGRO?

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

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

VYM has the higher dividend yield at 2.23%, compared with 1.89% for DGRO.

What is the main difference between VYM and DGRO?

VYM is categorized as Dividend, while DGRO is Large Cap Growth Equities. VYM tracks FTSE High Dividend Yield 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 VYM and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.60 vs 2.52), 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.