Dividend comparison

DGRO vs DIVB: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Core Dividend Growth ETF and iShares Core Dividend ETF, side by side. Updated October 21, 2026.

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DGRO vs DIVB: key differences
The short answer, from the latest data on this page.
  • Fees. DIVB is cheaper at 0.05% a year versus 0.08% for DGRO. On $10,000 that is $3 a year less in fees.
  • Income. DIVB pays more income, yielding 2.13% over the last twelve months versus 1.88% for DGRO. That is about $24 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, DIVB returned 87.2% versus 64.5% for DGRO, with dividends reinvested. $10,000 would have grown to $18,719 in DIVB and $16,454 in DGRO.
  • Risk. Their worst declines over the last 5 years were similar: -19.3% for DGRO and -21.1% for DIVB from peak to trough.
  • Diversification. DGRO holds 391 positions and DIVB holds 381.
  • Dividend growth. DIVB grew its yearly payout 17.4% a year over the last 4 years, versus 7.9% for DGRO.
  • Size. DGRO is the larger fund with $44.2 billion in assets, against $2.1 billion for DIVB.

Bottom line: DIVB has the edge on these figures, with lower fees, stronger 5-year returns and faster dividend growth. DGRO does not lead on any of the measures compared here.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricDGRO
iShares Core Dividend Growth ETF
DIVB
iShares Core Dividend ETF
Dividend yield (TTM)1.88%2.13%
Dividend / share (TTM)$1.49$1.48
Payout frequencyQuarterlyQuarterly
Last dividend$0.3850 on Sep 18, 2026$0.4242 on Sep 18, 2026
Ex-dividend dateSep 15, 2026Sep 15, 2026
Dividend growth (CAGR)7.9% over 4 yrs17.4% over 4 yrs
Price$79.26$69.69
Dividend growth streak10 years1 year
Beta0.670.88
Max drawdown (5Y)-19.3%-21.1%
Market cap$43.96B$1.59B
ExchangeAMEXCBOE
Expense ratio0.08%0.05%
Assets under management$44.19B$2.14B
Number of holdings391381
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

DGRO

$15.71/mo

$188 /yr at 1.88% yield

DIVB

$17.73/mo

$213 /yr at 2.13% yield

Dividend history
Total dividends paid per share in each calendar year. DGRO pays quarterly; DIVB pays quarterly.
YearDGRODIVB
2025$1.4506$1.3281
2024$1.3851$1.2369
2023$1.3159$1.3070
2022$1.1679$0.7584
2021$1.0718$0.6990
Strategy: Dividend equity
Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.

Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.

What DGRO vs DIVB actually do

DGRO
An iShares fund holding a wide set of US companies with a record of raising their dividends.

It tracks the Morningstar US Dividend Growth Index, which requires at least five consecutive years of dividend growth, a payout ratio under 75%, a positive earnings forecast, no REITs, and excludes the top 10% of the universe by yield. The five-year requirement is looser than VIG's ten, so the portfolio is broader, running to several hundred names. Holdings are weighted by the total dollar value of dividends paid rather than by market cap, which tilts weight toward the largest actual dividend payers rather than the largest companies.

Suits an investor who wants dividend growth with more names and a slightly higher starting yield than a stricter growth screen delivers. Less suitable for someone who wants concentrated exposure to only the longest-running dividend raisers.

Dividend growth, broad

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $16,454 in DGRO and $18,719 in DIVB.
PeriodDGRODIVB
1 month3.08%4.11%
3 months2.75%9.11%
Year to date14.17%31.12%
1 year15.72%33.61%
3 years70.71%101.94%
5 years64.54%87.19%
  • DGRO
  • DIVB
77136195202120222023202420252026165187

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • DGRO
  • DIVB
0%7%13%20%26%Technology19.5%26.4%Financial Services19.7%17.6%Healthcare17.2%10.5%Consumer Defensive12.2%9.8%Financials19.2%Industrials11.2%7.6%Information Technology17.8%Health Care17.4%Energy5.8%9.5%Consumer Staples12.8%Other24.1%18.6%

Quick verdict

DIVB has the edge on these figures, with lower fees, stronger 5-year returns and faster dividend growth. DGRO does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
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Frequently asked questions

Is DGRO or DIVB better for dividend income?
It depends on your goals. DGRO currently yields 1.88% Trailing Twelve Months (TTM) while DIVB yields 2.13%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between DGRO and DIVB?
iShares Core Dividend Growth ETF (DGRO) is an ETF listed on AMEX. iShares Core Dividend ETF (DIVB) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, DGRO or DIVB?
DIVB has the lower expense ratio. DGRO charges 0.08% a year and DIVB charges 0.05%, a difference of $3 a year on a $10,000 investment.
Which has performed better, DGRO or DIVB?
Over the last 5 years, DIVB has the higher total return with dividends reinvested: DGRO returned 64.5% and DIVB returned 87.2%. Past performance does not predict future returns.
Which is riskier, DGRO or DIVB?
Measured by the worst peak-to-trough decline over the last five years, DIVB has been riskier: DGRO fell as much as 19.3% and DIVB as much as 21.1%. Their betas are 0.67 and 0.88.
How often do DGRO and DIVB pay dividends?
Both pay quarterly. The most recent payments were $0.3850 for DGRO and $0.4242 for DIVB.
How much income does $10,000 in DGRO vs DIVB generate?
At current TTM yields, $10,000 in DGRO would generate roughly $15.71 per month ($188 annually). The same amount in DIVB would produce about $17.73 per month ($213 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both DGRO and DIVB?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare DGRO vs DIVB with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how DGRO and DIVB fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.