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Dividend Vision

ETF Comparison

DGRO vs SCHD vs VYM: Growth, Quality, or High Yield?

A side-by-side of iShares Core Dividend Growth, Schwab U.S. Dividend Equity, and Vanguard High Dividend Yield covering screens.

Data updated September 25, 2026

Best for

  • DGROInvestors who want a quality-dividend tilt rather than the whole market.
  • SCHDInvestors who want higher current income (3.21% vs 2.01% for DGRO).
  • VYMInvestors who want simple, diversified core exposure in one low-cost fund.

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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

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative; 3Y, 5Y, 10Y, and the shared Since-start window are annualized.

SCHD tops the group over the trailing twelve months with a 26.56% total return, against DGRO at 15.60% and VYM at 14.96%. Across the 10-year window, DGRO has the strongest compounding at 13.45% a year. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Jun 2014Volatility Sharpe Sortino Max drawdown
DGRO11.24%15.60%17.59%10.77%13.45%12.22%11.7%1.001.46-14.0%
SCHD22.70%26.56%15.85%9.56%12.85%11.82%13.2%0.781.14-16.1%
VYM10.86%14.96%17.69%11.67%11.57%10.75%12.5%0.951.38-14.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 25, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Jun 2014” measures every fund from June 12, 2014 — the start of shared available history — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricDGROSCHDVYM
Full nameiShares Core Dividend Growth ETFSchwab U.S. Dividend Equity ETFVanguard High Dividend Yield ETF
IssueriSharesSchwabVanguard
Underlying indexMorningstar US Dividend Growth IndexDow Jones U.S. Dividend 100 IndexFTSE High Dividend Yield Index
Last Close$76.57 as of September 25, 2026$33.21 as of September 25, 2026$157.68 as of September 25, 2026
Distribution rate2.01%3.21%2.25%
Distribution Safety Score™ 10010095
Safety-Adjusted Yield 2.01%3.21%2.14%
Expense ratio0.08%0.06%0.04%
AUM$42.7B$111B$81.0B
Distribution frequencyQuarterlyQuarterlyQuarterly
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.Seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 Index, which measures the performance of high dividend yielding stocks issued by U.S. companies with a record of consistently paying dividends, selected for fundamental strength relative to their peers based on financial ratios.Seeks to track the performance of the FTSE High Dividend Yield Index, which offers exposure to dividend-paying large-cap companies that exhibit value characteristics within the U.S. equity market. The index includes stocks with a history of paying above-average dividends.
Asset classEquityEquityEquity
Inception date06/10/201410/20/201111/10/2006
Beta0.660.560.66
Last dividend$0.385$0.2665 declared, pays 09/28/2026$0.887
Ex-dividend date09/15/202609/23/202609/18/2026
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iShares
ETFs466
Total AUM$4656B

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.

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Schwab
ETFs33
Total AUM$616B

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

Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.

See our curated list of related YouTube videos on SCHD.

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Vanguard
ETFs116
Total AUM$4746B

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

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VYM.

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Quick verdict

DGRO (iShares Core Dividend Growth ETF), SCHD (Schwab U.S. Dividend Equity ETF), VYM (Vanguard High Dividend Yield ETF) are dividend ETFs that take different approaches.

SCHD offers the highest reported yield at 3.21%, followed by VYM at 2.25%, DGRO at 2.01%.

VYM is the cheapest with an expense ratio of 0.04%, compared to 0.06% for SCHD and 0.08% for DGRO.

SCHD is the largest fund by assets ($111B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment: DGRO generates ~$50.25 cash per distribution, SCHD generates ~$80.25 cash per distribution, VYM generates ~$56.25 cash per distribution at current distribution rates.

DGRO yield2.01%
SCHD yield3.21%
VYM yield2.25%

Cost & efficiency

Over 10 years on $10,000: DGRO costs ~$80, SCHD costs ~$60, VYM costs ~$40 in fees (simplified, not compounded).

DGRO ER0.08%
SCHD ER0.06%
VYM ER0.04%

Strategy & risk

DGRO tracks Morningstar US Dividend Growth Index; SCHD tracks Dow Jones U.S. Dividend 100 Index; VYM tracks FTSE High Dividend Yield Index.

DGRO beta0.66
SCHD beta0.56
VYM beta0.66

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $42.7B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $111B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $81.0B in assets.

DGRO AUM$42.7B
SCHD AUM$111B
VYM AUM$81.0B
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Frequently asked questions

What is the difference between DGRO, SCHD, and VYM?

Three stock-dividend screens, not overlays. DGRO (iShares Core Dividend Growth ETF) picks US dividend growers. SCHD (Schwab U.S. Dividend Equity ETF) picks a shorter quality list. VYM (Vanguard High Dividend Yield ETF) picks high-yield US stocks. Cost is 0.08%, 0.06%, and 0.04%; distributions are 2.01%, 3.21%, and 2.25% as of September 2026. Screen rule, not a one-date yield, is the decision.

Which of DGRO, SCHD, VYM is best for dividend income?

It depends on your goals. SCHD currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.

Can I hold DGRO, SCHD, VYM together?

Yes — nothing prevents holding them together. 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 of DGRO, SCHD and VYM is safest?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: DGRO scores 100, SCHD scores 100, VYM scores 95. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has the lowest fees among DGRO, SCHD, VYM?

DGRO has an expense ratio of 0.08%, SCHD has an expense ratio of 0.06%, VYM has an expense ratio of 0.04%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 generate in each?

$10,000 in DGRO yields ~$50.25 cash per distribution ($201.00/year). $10,000 in SCHD yields ~$80.25 cash per distribution ($321.00/year). $10,000 in VYM yields ~$56.25 cash per distribution ($225.00/year).

More comparisons to explore

DGRO vs SCHD vs VYM — at a glance

Generated September 19, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

These three ETFs all track U.S. dividend-paying stocks but apply different screens to define their universes. DGRO targets companies with growing dividends and low payout ratios, SCHD focuses on the highest-yielding dividend payers with fundamental strength, and VYM casts a broader net to capture value-oriented dividend stocks. The result: yields climb from growth-oriented DGRO to income-heavy SCHD, while fees stay razor-thin across all three.

How they differ

DGRO's defining feature is its dividend growth mandate: it explicitly excludes the highest-yielding 10% of stocks and demands a payout ratio below 75%, making it a screened equity-growth play masquerading as income. SCHD and VYM chase higher current yield—SCHD at 3.21% versus DGRO's 2.01%—but diverge on breadth: SCHD narrows to the 100 highest-dividend-paying stocks with financial strength, while VYM (the oldest of the three, launched 11/10/2006) takes a wider FTSE index approach. On fees, VYM edges ahead at 0.04%, compared to SCHD's 0.06% and DGRO's 0.08%.

Who each is best for

  • DGRO: Fits investors prioritizing dividend reinvestment and capital appreciation over current income, with tolerance for lower near-term yields in exchange for exposure to companies likely to raise distributions over time.
  • SCHD: Designed for income-focused portfolios wanting maximum current yield without taking on concentrated or speculative holdings, paired with a proven index methodology and the AUM scale of a large fund.
  • VYM: Suits investors seeking broad exposure to value-oriented dividend payers with the lowest-cost entry point and longest track record, particularly those indifferent to dividend growth versus yield ranking.

Key risks to know

  • Yield-level mismatch: SCHD's 3.21% yield assumes continued high dividend payout by the 100 largest yielders; if macro conditions weaken or rates fall further, companies may cut distributions faster than capital appreciation offsets losses.
  • Growth vs. income tradeoff: DGRO's exclusion of the highest-yielding 10% means it sacrifices income today for potential appreciation—but dividend growth is not guaranteed, especially if economic growth slows.
  • Overlap and sector concentration: All three screens select from the same universe of U.S. large-caps; their holdings likely overlap substantially in defensive, mature sectors (utilities, REITs, energy), increasing vulnerability to sector-specific headwinds that the broader market doesn't face.
  • Valuation and rate sensitivity: VYM and SCHD tilt toward value stocks, which underperformed during the low-rate, growth-favoring environment of 2010–2021 and may face renewed pressure if rates stabilize or rise further.

Bottom line

If you want the lowest current yield but expect dividend raises and capital growth, DGRO aligns with that profile; if you prioritize maximum current income and the scale of a mega-cap fund, SCHD offers the highest yield with the lowest fees and largest AUM; if you prefer a simple, broad value-dividend approach with the cheapest expense ratio, VYM's longevity and low cost stand out. Past performance does not guarantee future results; compare these funds' historical volatility and sector holdings before committing capital.

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

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Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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