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ETF Comparison

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

A head-to-head comparison of iShares Core Dividend Growth ETF and Vanguard S&P 500 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
Vanguard
ETFs116
Total AUM$4488B

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

Vanguard is known for offering low-cost, passively managed ETFs that emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

Side-by-side snapshot

DGROVOO
Full nameiShares Core Dividend Growth ETFVanguard S&P 500 ETF
IssueriSharesVanguard
Last Close$76.69 as of July 21, 2026$682.21 as of July 21, 2026
Distribution yield1.73%1.15%
Distribution Safety Score™ 97100
Expense ratio0.08%0.03%
AUM$42.2B$985B
Distribution frequencyQuarterlyQuarterly
Underlying indexBasket (Growth-focused dividend equity holdings by BlackRock)S&P 500 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 performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date06/10/201409/07/2010
Beta0.681.0
Last dividend$0.3310$1.9622
Ex-dividend date06/15/202606/26/2026

Bottom lineChoose DGRO if you want higher current income (1.73% vs 1.15% for VOO). Choose VOO if you 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

DGRO has outpaced VOO over the trailing twelve months, posting a 21.01% total return against 19.43%. The picture flips over 10 years, though — VOO has compounded at 15.03% a year, ahead of DGRO at 13.18%. DGRO has been the steadier holding, though — annualized volatility of 11.8% against 14.9% for VOO. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3Y5Y10YSince Jun 2014Volatility Sharpe Sortino Max drawdown
DGRO10.87%21.01%15.84%11.33%13.18%12.39%11.8%0.871.27-14.0%
VOO9.24%19.43%19.52%13.38%15.03%13.74%14.9%0.901.30-18.7%

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 Jun 2014” measures every fund from June 12, 2014 — 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 VOO (Vanguard S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

DGRO offers the higher yield at 1.73% vs 1.15% for VOO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.08%.

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

VOO is the larger fund by assets ($985B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose DGRO

iShares Core Dividend Growth ETF

  • Want higher current income — DGRO yields 1.73% vs 1.15% for VOO.
  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 0.7 vs 1.0 for VOO.

Choose VOO

Vanguard S&P 500 ETF

  • Want simple, diversified core exposure as a portfolio building block.
  • Want to keep costs low — a 0.03% expense ratio vs 0.08% for DGRO.

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 VOO would produce $9.58/month, at current distribution rates. Both pay quarterly distributions.

DGRO yield1.73%
VOO yield1.15%
Monthly diff on $10K$4.83

Cost & efficiency

Over 10 years on $10,000, DGRO would cost approximately $80 in fees vs $30 for VOO (simplified, not compounded). The $50.00 difference may be offset by yield or performance.

DGRO ER0.08%
VOO ER0.03%

Strategy & risk

DGRO tracks Basket (Growth-focused dividend equity holdings by BlackRock), while VOO tracks S&P 500 Index with a large cap approach. Beta is 0.68 for DGRO and 1.0 for VOO, indicating DGRO is less volatile relative to the market.

DGRO beta0.68
VOO beta1.0

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $42.2B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $985B in assets.

DGRO AUM$42.2B
VOO AUM$985B
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Frequently asked questions

Is DGRO or VOO 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 VOO?

DGRO (iShares Core Dividend Growth ETF) tracks Basket (Growth-focused dividend equity holdings by BlackRock), while VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index with a large cap approach. They are issued by iShares and Vanguard respectively.

Can I hold both DGRO and VOO?

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 VOO?

DGRO has an expense ratio of 0.08% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in DGRO would generate roughly $14.42 per month ($173.00 annually). The same in VOO would produce about $9.58 per month ($115.00 annually).

Which has performed better historically, DGRO or VOO?

DGRO has outpaced VOO over the trailing twelve months, posting a 21.01% total return against 19.43%. The picture flips over 10 years, though — VOO has compounded at 15.03% a year, ahead of DGRO at 13.18%. DGRO has been the steadier holding, though — annualized volatility of 11.8% against 14.9% for VOO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DGRO vs VOO — at a glance

Generated July 2026 from current fund data.

Overview

DGRO and VOO are both broad U.S. equity ETFs, but they track different indices and apply different selection screens. VOO holds all 500 constituents of the S&P 500 Index with minimal screening, while DGRO focuses on U.S. companies with consistent dividend growth history—requiring a payout ratio under 75% and excluding the highest-yielding decile. The key distinction: VOO is market-cap-weighted large-cap exposure; DGRO is a dividend-growth-tilted subset that favors sustainable dividend growers over dividend yield alone.

How they differ

The biggest difference is mandate: VOO tracks the broad S&P 500 as an all-in index fund, while DGRO applies a dividend-growth filter that screens for consistency and sustainability, excluding high-yielding payers. This creates different exposures—DGRO's beta of 0.68 versus VOO's 1.0 signals lower volatility, a structural consequence of tilting toward stable dividend growers rather than all large-cap stocks.

On income, DGRO yields 1.72% while VOO yields 1.13%, reflecting DGRO's dividend-growth tilt. Both distribute quarterly. DGRO's expense ratio of 0.08% is higher than VOO's 0.03%, a tradeoff for the active index methodology. AUM diverges sharply—VOO holds $1033B, making it one of the largest equity ETFs globally; DGRO holds $40.6B, still substantial but a fraction of VOO's scale.

Who each is best for

DGRO: Fits investors seeking lower-volatility large-cap exposure that emphasizes dividend sustainability over yield—those comfortable owning fewer stocks (dividend growers) and willing to accept tracking a narrower index than the full S&P 500.

VOO: Fits investors who want transparent, broad market-cap-weighted exposure to the 500 largest U.S. companies with minimal fees and no sector or dividend tilt—a core equity holding capturing the entire large-cap index.

Key risks to know

  • Concentration within dividend growers: DGRO's filter excludes the highest-yield decile and non-dividend payers, narrowing its opportunity set compared to VOO's full S&P 500 universe. If non-dividend-paying large-cap tech companies outperform, DGRO lags by design.
  • Beta and market participation asymmetry: DGRO's 0.68 beta captures less upside in strong bull markets; VOO's 1.0 beta offers symmetrical market-like returns. Investors seeking full market participation sacrifice some during broad rallies.
  • Overlap and relative performance: While both are large-cap U.S. equity funds, their holdings likely overlap substantially. During periods when high-dividend or low-volatility stocks underperform growth and momentum, DGRO may trail VOO materially.
  • Expense drag at scale: Although 0.05% difference in expense ratios is modest, it compounds over decades; at VOO's vastly larger AUM, the minimal fee reflects extreme competitive pressure, setting a high bar for DGRO's screening premium.

Bottom line

VOO offers pure S&P 500 tracking at the lowest cost and largest scale; DGRO offers lower volatility and higher yield by screening for dividend-growth consistency. If you want unfiltered large-cap market exposure with minimal fees, VOO's simplicity and breadth stand out. If you prioritize downside dampening and dividend sustainability over market-weight precision, DGRO's tilt may fit your goals. Past performance doesn't predict future results; holdings overlap should be verified before combining them.

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

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