XLSR vs. DGRO

Last updated Jun 4, 2026

XLSR (SPDR SSGA US Sector Rotation ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds. XLSR is actively managed, while DGRO is passively managed. Over the past 5 years, XLSR returned 10.06%/yr vs 10.54%/yr for DGRO. Their correlation of 0.85 suggests significant overlap in exposure. XLSR charges 0.70%/yr vs 0.08%/yr for DGRO.

Performance

XLSR vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Sector Rotation ETF (XLSR) 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, XLSR achieves a 6.52% return, which is significantly lower than DGRO's 8.76% return.

XLSR

• 1D: -0.45%
• 1M: 5.12%
• YTD: 6.52%
• 6M: 6.27%
• 1Y: 25.83%
• 3Y*: 17.65%
• 5Y*: 10.06%
• 10Y*: —

DGRO

• 1D: -0.28%
• 1M: 3.14%
• YTD: 8.76%
• 6M: 8.75%
• 1Y: 22.54%
• 3Y*: 16.99%
• 5Y*: 10.54%
• 10Y*: 13.30%

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

XLSR vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XLSR SPDR SSGA US Sector Rotation ETF	6.52%	17.34%	17.60%	18.95%	-15.70%	20.47%	20.23%	14.13%
DGRO iShares Core Dividend Growth ETF	8.76%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	15.27%

Correlation

The correlation between XLSR and DGRO is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019	0.85

Over the past year, the correlation between XLSR and DGRO has dropped to 0.64 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

XLSR vs. DGRO - Sectors Allocation Comparison

Sectors	XLSR	DGRO
Technology	33.5%	19.4%
Healthcare	21.9%	16.4%
Communication Services	16.4%	0.1%
Industrials	13.8%	10.8%
Energy	8.1%	5.6%
Consumer Defensive	5.1%	11.5%
Financial Services	0.7%	21.2%
Consumer Cyclical	0.4%	5.7%
Basic Materials	-	2.5%
Real Estate	-	-
Utilities	-	6.9%

Return for Risk

XLSR vs. DGRO — Risk / Return Rank

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

XLSR

XLSR Risk / Return Rank: 59
XLSR Sharpe Ratio Rank: 63
XLSR Sortino Ratio Rank: 63
XLSR Omega Ratio Rank: 63
XLSR Calmar Ratio Rank: 47
XLSR Martin Ratio Rank: 59

DGRO

DGRO Risk / Return Rank: 71
DGRO Sharpe Ratio Rank: 71
DGRO Sortino Ratio Rank: 76
DGRO Omega Ratio Rank: 70
DGRO Calmar Ratio Rank: 69
DGRO Martin Ratio Rank: 71

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.

XLSR vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Sector Rotation ETF (XLSR) 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.

	XLSR	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.39	-0.28
Sortino ratio: Return per unit of downside risk	2.98	3.49	-0.50
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.05
Calmar ratio: Return relative to maximum drawdown	2.35	3.50	-1.15
Martin ratio: Return relative to average drawdown	10.44	13.52	-3.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLSR vs. DGRO - Sharpe Ratio Comparison

The current XLSR Sharpe Ratio is 2.12, which is comparable to the DGRO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of XLSR 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.

Sharpe Ratios by Period

	XLSR	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.39	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.77	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.76	-0.10

Drawdowns

XLSR vs. DGRO - Drawdown Comparison

The maximum XLSR drawdown since its inception was -32.94%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for XLSR and DGRO.

Drawdown Indicators

	XLSR	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-35.10%	+2.16%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-6.47%	-4.59%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-14.03%	-6.54%
Max Drawdown (5Y) Largest decline over 5 years	-23.32%	-19.31%	-4.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-0.45%	-0.28%	-0.17%
Average Drawdown Average peak-to-trough decline	-5.33%	-3.44%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.67%	+0.81%

Volatility

XLSR vs. DGRO - Volatility Comparison

SPDR SSGA US Sector Rotation ETF (XLSR) has a higher volatility of 2.97% compared to iShares Core Dividend Growth ETF (DGRO) at 2.21%. This indicates that XLSR'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

	XLSR	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	2.21%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	6.91%	+2.32%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	9.48%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	13.82%	+3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	16.62%	+3.42%

XLSR vs. DGRO - Expense Ratio Comparison

XLSR has a 0.70% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

XLSR vs. DGRO - Dividend Comparison

XLSR's dividend yield for the trailing twelve months is around 0.52%, less than DGRO's 1.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.96%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
XLSR SPDR SSGA US Sector Rotation ETF	0.52%	0.58%	0.66%	1.04%	1.80%	3.44%	1.25%	0.94%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLSR and DGRO in my portfolio?

XLSR and DGRO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLSR or DGRO?

XLSR has higher volatility (2.97%) compared to DGRO (2.21%). In terms of maximum drawdown, XLSR dropped -32.94% vs DGRO's -35.10%.

Which ETF is better, XLSR or DGRO?

On 5-year performance, DGRO leads with 10.54% vs 10.06% for XLSR. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLSR or DGRO?

Over the 5-year period, DGRO has performed better with a 10.54% return vs 10.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLSR or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.70% for XLSR.

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

DGRO has the higher dividend yield at 1.96%, compared with 0.52% for XLSR.

What is the main difference between XLSR and DGRO?

They also come from different issuers: State Street and iShares. Their fees differ too: 0.70% for XLSR and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.39 vs 2.12), 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.