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 4, 2026

iShares

ETFs481

Total AUM$4451B

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

ETFs81

Total AUM$188B

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

	DGRO	FDVV
Full name	iShares Core Dividend Growth ETF	Fidelity High Dividend ETF
Issuer	iShares	Fidelity Investments
Last Close	$77.26 as of July 4, 2026	$61.28 as of July 4, 2026
Distribution yield	1.71%	3.39%
Distribution Safety Score	97	89
Expense ratio	0.08%	0.15%
AUM	$40.6B	$9.80B
Distribution frequency	Quarterly	Quarterly
Underlying index	Basket (Growth-focused dividend equity holdings by BlackRock)	Fidelity High Dividend Index
Objective	Seeks 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 class	Equity	Equity
Inception date	06/10/2014	09/12/2016
Beta	0.7	0.8
Last dividend	$0.3310	$0.5190
Ex-dividend date	09/15/2026	06/18/2026

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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 21.82% total return against 19.47%. The lead holds up over 10 years too: DGRO has compounded at 13.57% a year, against 13.39% for FDVV. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	3Y	5Y	10Y	Since Sep 2016	Volatility	Sharpe	Sortino	Max drawdown
DGRO	11.69%	21.82%	17.05%	11.29%	13.57%	13.77%	11.8%	0.96	1.40	-14.0%
FDVV	8.29%	19.47%	18.77%	13.59%	13.39%	13.39%	12.6%	1.02	1.45	-15.9%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 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 3.39% vs 1.71% 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 ($40.6B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, DGRO would generate roughly $14.25/month, while FDVV would produce $28.25/month, at current distribution rates. Both pay quarterly distributions.

DGRO yield1.71%

FDVV yield3.39%

Monthly diff on $10K$14.00

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) with a basket approach, while FDVV tracks Fidelity High Dividend Index with a dividend income approach. Beta is 0.7 for DGRO and 0.8 for FDVV, indicating DGRO is less volatile relative to the market.

DGRO beta0.7

FDVV beta0.8

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $40.6B in assets. FDVV is managed by Fidelity Investments (launched 09/12/2016) with $9.80B in assets.

DGRO AUM$40.6B

FDVV AUM$9.80B

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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) with a basket approach, 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. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

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 $14.25 per month ($171.00 annually). The same in FDVV would produce about $28.25 per month ($339.00 annually).

Which has performed better historically, DGRO or FDVV?

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DGRO vs FDVV — at a glance

Generated June 2026 from current fund data.

Overview

DGRO and FDVV are both U.S. dividend-focused equity ETFs that track indexes, but they pursue different philosophies: DGRO hunts for companies with a track record of growing their payouts and keeps yields modest through a payout-ratio filter, while FDVV casts a wider net to capture higher current yields. DGRO's beta of 0.7 suggests lower equity sensitivity than FDVV's 0.8, reflecting DGRO's stricter screening for dividend sustainability.

How they differ

The single biggest difference is dividend strategy. DGRO targets dividend growth—companies must demonstrate a history of rising payouts and keep payout ratios below 75%—while FDVV focuses on current income, selecting high-yielding stocks without the same growth constraint. This shows up in yield: FDVV's 3.45% distribution rate is nearly double DGRO's 1.75%, because FDVV accepts companies later in their lifecycle that prioritize current distributions over reinvestment. DGRO's lower beta (0.7 versus 0.8) and smaller recent AUM ($40.6B versus $9.80B after accounting for inception dates) also suggest DGRO has attracted more capital for its growth-tilted, lower-volatility profile. The expense ratio difference is minimal—0.08% for DGRO versus 0.15% for FDVV—but DGRO's lower fee reflects its larger scale.

Who each is best for

DGRO: Fits investors seeking steady dividend growth over decades, comfortable reinvesting rising distributions and accepting lower current yield in exchange for more defensive equity exposure and capital appreciation potential.

FDVV: Fits investors prioritizing current income now, with holdings skewed toward mature, stable dividend payers and higher payout ratios, and comfortable with slightly higher equity volatility for increased cash flow.

Key risks to know

Dividend-growth cap for DGRO. The payout-ratio ceiling (less than 75%) and exclusion of the highest-yielding decile mean DGRO will systematically miss value traps that collapse suddenly, but also miss occasional cheap high-yielders. The "growth" filter adds tracking error.

Yield-chasing risk for FDVV. Higher yields can signal financial stress or debt-funded payouts rather than earnings strength. FDVV's lack of payout-ratio screening means it may hold dividend traps with limited room for cuts without NAV damage.

Sector and single-name concentration in either fund. Dividend-focused strategies naturally cluster in utilities, REITs, consumer staples, and energy; either fund could see outsized exposure to rate-sensitive or commodity-linked sectors.

Beta sensitivity in equity downturns. While both betas are below 1.0, neither fund insulates holders from equity drawdowns. In a sharp market decline, FDVV's slightly higher beta (0.8) would likely underperform DGRO's (0.7), and higher dividend payers often face valuation compression.

Bottom line

If you value long-term dividend growth and don't need immediate high cash flow, DGRO's stricter payout filters and lower beta offer a more defensive growth-dividend blend; if you prioritize current income and can tolerate mature, higher-yielding payers, FDVV delivers roughly double the distribution rate. 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.