DGRO vs SPY
DGRO vs SPY
iShares Core Dividend Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
DGRO has a lower expense ratio. DGRO delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DGRO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.08% | 0.09% | |
| AUM | $42.8B | $789.1B | |
| Dividend Yield | 1.95% | 1.01% | |
| Holdings | 397 | 505 | |
| YTD Return | +12.78% | +9.93% | |
| 1Y Return | +23.23% | +19.50% | |
| 3Y Return (annualized) | +16.31% | +19.33% | |
| 5Y Return (annualized) | +11.12% | +12.82% | |
| Volatility (annualized) | 13.7% | 15.3% | |
| Max Drawdown | -35.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 10, 2014 | Jan 22, 1993 |
DGRO vs SPY Performance
iShares Core Dividend Growth ETF (DGRO) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DGRO returned +23.23% while SPY returned +19.50%. Year to date, DGRO is up 12.78% versus a gain of 9.93% for SPY.
Over three years, DGRO compounded at +16.31% per year against +19.33% for SPY; over five years the annualized figures are +11.12% and +12.82% respectively. Across the full 12-year window we track, DGRO has the edge at +11.08% annualized vs +8.74%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.7% for DGRO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -35.1% for DGRO and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DGRO charges 0.08% per year while SPY charges 0.09%. On a $10,000 position that is $8 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, DGRO currently yields 1.95% against 1.01% for SPY.
Holdings Overlap
DGRO and SPY share 221 holdings out of 662 unique holdings combined, representing a 42.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in DGRO | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 2.93% | 7.09% | 4.16% |
| MSFT | 2.72% | 4.43% | 1.71% |
| AVGO | 2.48% | 2.73% | 0.25% |
| JPM | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| ABBV | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| HD | Pro | Pro | Pro |
| PG | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings DGRO shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, DGRO or SPY?
DGRO has an expense ratio of 0.08% while SPY charges 0.09%. DGRO is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, DGRO or SPY?
Over the past year DGRO returned +23.23% vs +19.50% for SPY, so DGRO leads on 1-year performance. Over the longest common window we track (12 years), DGRO annualized +11.08% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, DGRO or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.7% for DGRO. Worst drawdown: DGRO -35.1% vs SPY -56.5%.
Should I hold both DGRO and SPY?
DGRO and SPY have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between DGRO and SPY?
DGRO and SPY share 221 common holdings with a 42.5% weight overlap. Combined, they hold 662 unique securities.
Which pays a higher dividend, DGRO or SPY?
DGRO yields 1.95% while SPY yields 1.01%, so DGRO currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.