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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 August 24, 2026

Best for

  • DGROInvestors who want higher current income (1.66% vs 1.12% for VOO).
  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.

Jump to the side-by-side numbers

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 22.64% total return against 20.22%. The picture flips over 10 years, though — VOO has compounded at 15.21% a year, ahead of DGRO at 13.58%. 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.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3Y5Y10YSince Jun 2014Volatility Sharpe Sortino Max drawdown
DGRO15.55%22.64%18.78%11.11%13.58%12.66%11.8%1.091.58-14.0%
VOO12.38%20.22%22.04%12.87%15.21%13.89%14.9%1.041.51-18.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 24, 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricDGROVOO
Full nameiShares Core Dividend Growth ETFVanguard S&P 500 ETF
IssueriSharesVanguard
Underlying indexMorningstar US Dividend Growth IndexS&P 500 Index
Last Close$79.61 as of August 24, 2026$703.71 as of August 24, 2026
Distribution yield1.66%1.12%
Distribution Safety Score™ 100100
Expense ratio0.08%0.03%
AUM$43.8B$1038B
Distribution frequencyQuarterlyQuarterly
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
Beta0.671.0
Last dividend$0.3310$1.9622
Ex-dividend date06/15/202606/26/2026

Bottom lineChoose DGRO if you want higher current income (1.66% vs 1.12% for VOO). Choose VOO if you want simple, diversified core exposure in one low-cost fund.

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

iShares
ETFs466
Total AUM$4679B

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$4664B

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 VOO.

See all Vanguard ETFs

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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 1.66% vs 1.12% 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 Morningstar US Dividend Growth Index while VOO tracks S&P 500 Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1038B), 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 1.66% vs 1.12% for VOO.
  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • 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 $13.83/month, while VOO would produce $9.33/month, at current distribution rates. Both pay quarterly distributions.

DGRO yield1.66%
VOO yield1.12%
Monthly diff on $10K$4.50

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 Morningstar US Dividend Growth Index, while VOO tracks S&P 500 Index with a large cap approach. Beta is 0.67 for DGRO and 1.0 for VOO, making DGRO the less volatile of the two by this measure.

DGRO beta0.67
VOO beta1.0

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $43.8B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1038B in assets.

DGRO AUM$43.8B
VOO AUM$1038B
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Frequently asked questions

What is the current distribution yield for DGRO and VOO?

DGRO currently distributes 1.66% and VOO 1.12%, 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 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 Morningstar US Dividend Growth Index, 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.

Is DGRO or VOO safer?

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, VOO scores 100. Neither has a clear safety edge on that measure. DGRO has also shown lower price volatility (beta 0.67 vs 1.00 for VOO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

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 $13.83 per month ($166.00 annually). The same in VOO would produce about $9.33 per month ($112.00 annually).

Which has performed better historically, DGRO or VOO?

DGRO has outpaced VOO over the trailing twelve months, posting a 22.64% total return against 20.22%. The picture flips over 10 years, though — VOO has compounded at 15.21% a year, ahead of DGRO at 13.58%. 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 August 23, 2026.

Overview

DGRO and VOO are both large-cap U.S. equity ETFs with minimal costs, but they track fundamentally different indexes. DGRO targets companies with histories of growing dividends and low payout ratios, screening out the highest-yielding names. VOO tracks the full S&P 500 with no dividend filter, giving you the broad market at its current weighting. The key distinction: DGRO emphasizes dividend growth and capital discipline; VOO offers pure market-cap exposure.

How they differ

DGRO's biggest difference is its dividend-growth screen. The fund excludes companies in the top decile by yield and requires payout ratios below 75%, tilting its portfolio toward dividend growers rather than high-yield payers. VOO holds all 500 S&P constituents at their index weights, including high yielders, non-payers, and everything in between.

That screening shows in the yield: DGRO pays 1.66% versus VOO's 1.12%, a 54-basis-point spread. DGRO's beta of 0.67 versus VOO's 1.0 reflects this tilt—dividend growers historically move less than the broad market in down cycles, though they may underperform in strong rallies.

Cost and scale are nearly identical. DGRO charges 0.08% and holds $43.8B; VOO charges 0.03% and holds $1038B. Both pay quarterly and have been running for over a decade. The 5-basis-point expense difference is negligible in either direction.

Who each is best for

  • DGRO: Fits investors who want higher current income from U.S. equities and prefer companies that reinvest profits rather than pay out most earnings, expecting dividend growth to outpace inflation over time.
  • VOO: Fits investors who want pure S&P 500 exposure without tilting toward any style (growth, value, dividend), accepting whatever the current market weights as their equity core.

Key risks to know

  • Lower market capture in rallies. DGRO's 0.67 beta means it typically trails VOO when the S&P 500 rallies sharply; if large-cap equities have an extended bull run, DGRO's underweight to momentum and low-yielders could be a relative drag.
  • Dividend-screen concentration. DGRO's filter for dividend growers with low payouts naturally concentrates the fund in sectors and business models that fit that profile (mature, cash-generative industrials, utilities, financials). This may create hidden sector concentration risk that isn't obvious from the headline diversification.
  • Yield sustainability depends on earnings growth. DGRO's appeal rests on the assumption that dividends will keep rising; if corporate earnings stall or payout discipline weakens, the fund's income may not grow as expected, and capital appreciation could lag.
  • Market-cap weighting risk in VOO. VOO's adherence to S&P 500 weighting means it will track the index's concentration in the largest companies; in periods when mega-cap tech struggles, the fund moves with it.

Bottom line

If you want higher current income and prefer companies that grow dividends rather than churn earnings, DGRO's tilt and 1.66% yield stand out. If you want simple S&P 500 exposure at the lowest possible cost and accept whatever the market serves up, VOO's 0.03% expense ratio and $1038B scale are hard to beat. Past performance doesn't predict future results, and both funds' outcomes depend on whether dividend growth or broad market appreciation drives returns ahead.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

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

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