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ETF Comparison

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

A head-to-head comparison of iShares Core Dividend Growth ETF and Invesco S&P 500 Momentum ETF covering yield, cost, risk, and income potential.

Data updated August 14, 2026

Best for

  • DGROInvestors who want higher current income (1.66% vs 0.64% for SPMO).
  • SPMOInvestors who want broad equity exposure.

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricDGROSPMO
Full nameiShares Core Dividend Growth ETFInvesco S&P 500 Momentum ETF
IssueriSharesInvesco
Last Close$79.83 as of August 14, 2026$153.31 as of August 14, 2026
Distribution yield1.66%0.64%
Distribution Safety Score™ 10072
Expense ratio0.08%0.13%
AUM$43.4B$21.3B
Distribution frequencyQuarterlyQuarterly
Underlying indexBasket (Growth-focused dividend equity holdings by BlackRock)S&P 500 Momentum 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.Track the S&P 500 Momentum Index, providing factor exposure to the highest momentum names within the S&P 500.
Asset classEquityEquity
Inception date06/10/201410/09/2015
Beta0.671.33
Last dividend$0.3310$0.2450
Ex-dividend date06/15/202606/22/2026

Bottom lineChoose DGRO if you want higher current income (1.66% vs 0.64% for SPMO). Choose SPMO if you want broad equity exposure.

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iShares
ETFs473
Total AUM$4664B

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
Invesco
ETFs247
Total AUM$983B

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

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

See our curated list of related YouTube videos on SPMO.

See all Invesco ETFs

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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 lagged SPMO over the trailing twelve months, posting a 22.91% total return against 31.17%. The lead holds up over 10 years too: SPMO has compounded at 20.40% a year, against 13.56% for DGRO. DGRO has been the steadier holding, though — annualized volatility of 11.8% against 21.8% for SPMO. 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.
SymbolYTD1Y3Y5Y10YSince Oct 2015Volatility Sharpe Sortino Max drawdown
DGRO15.41%22.91%17.66%11.11%13.56%13.67%11.8%1.001.46-14.0%
SPMO28.67%31.17%38.77%21.32%20.40%19.57%21.8%1.311.92-20.1%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2015” measures every fund from October 12, 2015 — 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 SPMO (Invesco S&P 500 Momentum ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

DGRO offers the higher yield at 1.66% vs 0.64% for SPMO. 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 0.13%.

They track different benchmarks: DGRO is linked to Basket (Growth-focused dividend equity holdings by BlackRock) while SPMO tracks S&P 500 Momentum Index, which means their performance drivers differ.

DGRO is the larger fund by assets ($43.4B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, DGRO would generate roughly $13.83/month, while SPMO would produce $5.33/month, at current distribution rates. Both pay quarterly distributions.

DGRO yield1.66%
SPMO yield0.64%
Monthly diff on $10K$8.50

Cost & efficiency

Over 10 years on $10,000, DGRO would cost approximately $80 in fees vs $130 for SPMO (simplified, not compounded). The $50.00 difference may be offset by yield or performance.

DGRO ER0.08%
SPMO ER0.13%

Strategy & risk

DGRO tracks Basket (Growth-focused dividend equity holdings by BlackRock), while SPMO tracks S&P 500 Momentum Index with an index approach. Beta is 0.67 for DGRO and 1.33 for SPMO, indicating DGRO is less volatile relative to the market.

DGRO beta0.67
SPMO beta1.33

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $43.4B in assets. SPMO is managed by Invesco (launched 10/09/2015) with $21.3B in assets.

DGRO AUM$43.4B
SPMO AUM$21.3B
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Frequently asked questions

What is the current distribution yield for DGRO and SPMO?

DGRO currently distributes 1.66% and SPMO 0.64%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is DGRO or SPMO better for dividend income?

It depends on your goals. DGRO 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 SPMO?

DGRO (iShares Core Dividend Growth ETF) tracks Basket (Growth-focused dividend equity holdings by BlackRock), while SPMO (Invesco S&P 500 Momentum ETF) tracks S&P 500 Momentum Index with an index approach. They are issued by iShares and Invesco respectively.

Can I hold both DGRO and SPMO?

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.

Is DGRO or SPMO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — DGRO scores 100, SPMO scores 72, so DGRO's payout currently looks the more resilient of the two. DGRO has also shown lower price volatility (beta 0.67 vs 1.33 for SPMO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, DGRO or SPMO?

DGRO has an expense ratio of 0.08% while SPMO charges 0.13%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in DGRO would generate roughly $13.83 per month ($166.00 annually). The same in SPMO would produce about $5.33 per month ($64.00 annually).

Which has performed better historically, DGRO or SPMO?

DGRO has lagged SPMO over the trailing twelve months, posting a 22.91% total return against 31.17%. The lead holds up over 10 years too: SPMO has compounded at 20.40% a year, against 13.56% for DGRO. DGRO has been the steadier holding, though — annualized volatility of 11.8% against 21.8% for SPMO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DGRO vs SPMO — at a glance

Generated August 15, 2026.

Overview

DGRO is a dividend-growth ETF that tracks companies with consistent dividend-increase histories and low payout ratios, while SPMO targets the highest-momentum stocks within the S&P 500. The fundamental distinction is strategy: DGRO filters for sustainable dividend growers; SPMO chases price momentum. Both are equity ETFs, but they pursue opposite market signals—one reward consistency, the other rewards recent outperformance.

How they differ

DGRO's core selection rule excludes high-yield stocks and requires a track record of dividend growth, whereas SPMO applies no dividend filter and instead ranks S&P 500 constituents by momentum factor. This produces radically different yield profiles: DGRO yields 1.66% versus SPMO at 0.64%, reflecting DGRO's dividend-focused screen versus SPMO's growth-tilt philosophy. DGRO has lower beta at 0.67, meaning it's designed to move less than the broader market, while SPMO's beta of 1.33 indicates it amplifies market swings. DGRO's expense ratio is 0.08% on $43.4B in AUM; SPMO charges 0.13% with $21.3B, so DGRO's scale advantage translates to a cheaper baseline cost for the dividend-growth approach.

Who each is best for

DGRO: Fits investors seeking equity exposure with a steady income stream and preference for lower volatility. Dividend-growth selection typically appeals to those with a longer time horizon and comfort with a defensive equity posture.

SPMO: Designed for investors drawn to factor-based strategies and willing to accept higher market sensitivity in pursuit of momentum exposure. Suits allocations where dividend income is secondary to capital appreciation potential.

Key risks to know

  • Dividend-cut risk in DGRO: A recession or earnings downturn could force companies with long dividend-growth histories to reduce payouts, potentially triggering rapid share-price declines among DGRO's concentrated holdings since the fund selects for past dividend growth, not dividend resilience.
  • Momentum decay in SPMO: Momentum as a factor exhibits cyclical performance and can reverse sharply when market leadership shifts; stocks that lead a rally often underperform during mean-reversion periods, exposing SPMO holders to style rotation risk.
  • Payout-ratio creep in DGRO: The 75% payout-ratio ceiling aims to signal safety, but in inflationary or stagflation environments, companies may expand payouts faster than earnings growth, eroding the margin of safety the filter intends to provide.
  • Concentration within large-cap momentum in SPMO: Momentum factors often cluster performance in a narrow set of names; SPMO's exposure to the top momentum performers within the S&P 500 may concentrate sector or company risk during periods when that concentration unwinds.

Bottom line

DGRO prioritizes steady dividend income and lower market sensitivity, while SPMO chases momentum with higher beta and a thinner yield. If you value downside cushion and current income, DGRO's yield and defensive characteristics stand out; if you're seeking growth-oriented factor exposure and can tolerate higher volatility, SPMO's momentum tilt and lower distribution may align better. Past performance of either factor—dividend growth or momentum—does not predict future results.

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

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