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ETF Comparison

DGRO vs FDVV: Which Is the Better Pick in 2026?

A head-to-head comparison of iShares Core Dividend Growth ETF and Fidelity High Dividend ETF covering yield, cost, risk, and income potential.

Data updated July 21, 2026

iShares
ETFs477
Total AUM$4543B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on DGRO.

See all iShares ETFs
Fidelity Investments
ETFs82
Total AUM$195B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Fidelity Investments is a major player in the ETF space, known for offering a comprehensive range of funds across diverse investment strategies and asset classes. Their lineup of 67 ETFs spans allocation, bond, dividend, equity, factor-based, income, index, international, and sector-focused strategies, with notable offerings including their Fidelity Factor and Fidelity Yield Enhanced families designed to capture specific market premiums and enhance income generation. The issuer serves both broad market investors and those seeking specialized exposure, with popular tickers like FBTC (their Bitcoin ETF) and various dividend and income-focused funds catering to different investor objectives and risk profiles.

See our curated list of related YouTube videos on FDVV.

See all Fidelity Investments ETFs

Side-by-side snapshot

DGROFDVV
Full nameiShares Core Dividend Growth ETFFidelity High Dividend ETF
IssueriSharesFidelity Investments
Last Close$76.69 as of July 21, 2026$61.76 as of July 21, 2026
Distribution yield1.73%3.36%
Distribution Safety Score™ 9789
Expense ratio0.08%0.15%
AUM$42.2B$10.0B
Distribution frequencyQuarterlyQuarterly
Underlying indexBasket (Growth-focused dividend equity holdings by BlackRock)Fidelity High Dividend Index
ObjectiveSeeks to track the investment results of the Morningstar U.S. Dividend Growth Index, which measures the performance of U.S. equities with a history of consistently growing dividends. Companies must have a payout ratio less than 75% and are excluded if in the top decile based on dividend yield.Dividend Income
Asset classEquityEquity
Inception date06/10/201409/12/2016
Beta0.680.79
Last dividend$0.3310$0.5190
Ex-dividend date06/15/202606/18/2026

Bottom lineChoose DGRO if you want broad equity exposure. Choose FDVV if you want higher current income (3.36% vs 1.73% for DGRO).

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

DGRO has outpaced FDVV over the trailing twelve months, posting a 21.01% total return against 19.17%. The picture flips over 10 years, though — FDVV has compounded at 13.51% a year, ahead of DGRO at 13.18%. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3Y5Y10YSince Sep 2016Volatility Sharpe Sortino Max drawdown
DGRO10.87%21.01%15.84%11.33%13.18%13.61%11.8%0.871.27-14.0%
FDVV10.08%19.17%18.21%14.56%13.51%13.51%12.6%0.981.41-15.9%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2016” measures every fund from September 15, 2016 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

DGRO (iShares Core Dividend Growth ETF) and FDVV (Fidelity High Dividend ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

FDVV offers the higher yield at 3.36% vs 1.73% for DGRO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

DGRO is cheaper with an expense ratio of 0.08% compared to 0.15%.

They track different benchmarks: DGRO is linked to Basket (Growth-focused dividend equity holdings by BlackRock) while FDVV tracks Fidelity High Dividend Index, which means their performance drivers differ.

DGRO is the larger fund by assets ($42.2B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose DGRO

iShares Core Dividend Growth ETF

  • Want broad equity exposure.
  • Want to keep costs low — a 0.08% expense ratio vs 0.15% for FDVV.

Choose FDVV

Fidelity High Dividend ETF

  • Want higher current income — FDVV yields 3.36% vs 1.73% for DGRO.
  • Want a quality-dividend tilt — screened payers rather than the broad index.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, DGRO would generate roughly $14.42/month, while FDVV would produce $28.00/month, at current distribution rates. Both pay quarterly distributions.

DGRO yield1.73%
FDVV yield3.36%
Monthly diff on $10K$13.58

Cost & efficiency

Over 10 years on $10,000, DGRO would cost approximately $80 in fees vs $150 for FDVV (simplified, not compounded). The $70.00 difference may be offset by yield or performance.

DGRO ER0.08%
FDVV ER0.15%

Strategy & risk

DGRO tracks Basket (Growth-focused dividend equity holdings by BlackRock), while FDVV tracks Fidelity High Dividend Index with a dividend income approach. Beta is 0.68 for DGRO and 0.79 for FDVV, indicating DGRO is less volatile relative to the market.

DGRO beta0.68
FDVV beta0.79

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $42.2B in assets. FDVV is managed by Fidelity Investments (launched 09/12/2016) with $10.0B in assets.

DGRO AUM$42.2B
FDVV AUM$10.0B
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Frequently asked questions

Is DGRO or FDVV better for dividend income?

It depends on your goals. FDVV currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between DGRO and FDVV?

DGRO (iShares Core Dividend Growth ETF) tracks Basket (Growth-focused dividend equity holdings by BlackRock), while FDVV (Fidelity High Dividend ETF) tracks Fidelity High Dividend Index with a dividend income approach. They are issued by iShares and Fidelity Investments respectively.

Can I hold both DGRO and FDVV?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Which has lower fees, DGRO or FDVV?

DGRO has an expense ratio of 0.08% while FDVV charges 0.15%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in DGRO vs FDVV generate?

At current rates, $10,000 in DGRO would generate roughly $14.42 per month ($173.00 annually). The same in FDVV would produce about $28.00 per month ($336.00 annually).

Which has performed better historically, DGRO or FDVV?

DGRO has outpaced FDVV over the trailing twelve months, posting a 21.01% total return against 19.17%. The picture flips over 10 years, though — FDVV has compounded at 13.51% a year, ahead of DGRO at 13.18%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DGRO vs FDVV — at a glance

Generated July 2026 from current fund data.

Overview

DGRO and FDVV are both U.S. dividend equity ETFs, but they target fundamentally different investor profiles. DGRO tracks dividend growth — favoring companies with rising payouts and modest yields — while FDVV targets dividend income — seeking higher current yields from established payers. The strategic difference shows in their yields: DGRO distributes 1.72% annually; FDVV delivers 3.34%.

How they differ

The core distinction is dividend philosophy. DGRO screens for dividend growers with payout ratios under 75% and explicitly excludes the highest-yielding stocks, aiming for capital appreciation alongside income. FDVV indexes on high current yield, making it a pure income play with nearly double DGRO's distribution rate.

DGRO has been trading longer (since June 2014 vs. September 2016) and commands more assets at $40.6B against FDVV's $9.80B. That scale difference typically means tighter bid-ask spreads and lower trading costs. FDVV charges a slightly higher expense ratio at 0.15% versus DGRO's 0.08%, though both are competitively priced. DGRO's beta of 0.68 suggests lower volatility relative to the broader market than FDVV's 0.79, reflecting its tilt toward more stable dividend growers.

Who each is best for

DGRO: Fits investors seeking meaningful current income (around 1.7%) combined with long-term capital growth, with lower near-term volatility expectations. The screening for dividend growth history appeals to those who believe rising payouts signal business quality.

FDVV: Fits investors prioritizing current yield (around 3.3%) over growth, typically on a shorter time horizon or with an immediate income need. Works well in portfolios where total return is less important than cash generation.

Key risks to know

  • Dividend-cut exposure in DGRO. Screening for dividend growth doesn't prevent cuts. If economic conditions deteriorate, even historically consistent growers may reduce payouts, underperforming FDVV's high-yield universe initially.
  • High-yield concentration risk in FDVV. Overweighting high-yielding stocks concentrates capital in mature, slower-growth sectors (utilities, REITs, energy). This creates sector concentration risk that overlaps with other income-focused holdings.
  • Valuation and multiple compression. Both funds own equity; neither hedges interest-rate or equity-market risk. Rising rates or multiple contraction will pressure NAV. DGRO's lower beta may cushion downside less predictably than the number suggests during extended selloffs.
  • Sector overlap mismatch. DGRO's growth tilt and FDVV's yield tilt likely populate different sectors. Verify the actual holdings to understand whether your broader portfolio already owns these exposures heavily.

Bottom line

DGRO prioritizes dividend sustainability and long-term payouts via rigorous screening; FDVV maximizes immediate yield. If you want measurable current income with minimal fuss, FDVV's 3.34% yield is harder to ignore. If you favor dividend growers and can accept lower yields now, DGRO's longer track record and lower expense ratio fit a total-return mindset. Past performance does not guarantee future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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