Dividend comparison

DGRO vs HDV: Which Is Better for Income?

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

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DGRO vs HDV: key differences
The short answer, from the latest data on this page.
  • Fees. Both charge about 0.08% a year, so cost is not what separates them.
  • Income. HDV pays more income, yielding 2.83% over the last twelve months versus 1.88% for DGRO. That is about $95 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, HDV returned 82.2% versus 64.5% for DGRO, with dividends reinvested. $10,000 would have grown to $18,215 in HDV and $16,454 in DGRO.
  • Risk. DGRO has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -19.3%, against -15.4% for HDV.
  • Diversification. DGRO holds 391 positions and HDV holds 74.
  • Dividend growth. DGRO grew its yearly payout 7.9% a year over the last 4 years, versus 2.8% for HDV.
  • Size. DGRO is the larger fund with $44.2 billion in assets, against $15.5 billion for HDV.

Bottom line: DGRO fits better if you care most about faster dividend growth and broader diversification. HDV fits better if you care most about more income today, stronger 5-year returns and smaller drawdowns.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricDGRO
iShares Core Dividend Growth ETF
HDV
iShares Core High Dividend ETF
Dividend yield (TTM)1.88%2.83%
Dividend / share (TTM)$1.49$0.85
Payout frequencyQuarterlyQuarterly
Last dividend$0.3850 on Sep 18, 2026$0.0560 on Sep 21, 2026
Ex-dividend dateSep 15, 2026Sep 16, 2026
Dividend growth (CAGR)7.9% over 4 yrs2.8% over 4 yrs
Price$79.26$30.11
Dividend growth streak10 years—
Beta0.670.30
Max drawdown (5Y)-19.3%-15.4%
Market cap$43.96B$15.63B
ExchangeAMEXAMEX
Expense ratio0.08%0.08%
Assets under management$44.19B$15.52B
Number of holdings39174
Top 10 concentration—57.4%
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

HDV

$23.58/mo

$283 /yr at 2.83% yield

Dividend history
Total dividends paid per share in each calendar year. DGRO pays quarterly; HDV pays quarterly.
YearDGROHDV
2025$1.4506$0.7821
2024$1.3851$0.8230
2023$1.3159$0.7787
2022$1.1679$0.7431
2021$1.0718$0.7016
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 HDV 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 $18,215 in HDV.
PeriodDGROHDV
1 month3.08%4.77%
3 months2.75%7.46%
Year to date14.17%26.57%
1 year15.72%26.83%
3 years70.71%70.79%
5 years64.54%82.15%
  • DGRO
  • HDV
80135190202120222023202420252026165182

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
  • HDV
0%8%17%25%34%Healthcare17.2%25.1%Consumer Staples12.8%27.0%Consumer Defensive12.2%23.1%Health Care17.4%13.6%Energy5.8%24.8%Financial Services19.7%4.7%Financials19.2%4.5%Technology19.5%1.1%Information Technology17.8%0.5%Utilities7.0%10.9%Other28.3%33.9%
Top 10 holdings
Largest positions by portfolio weight.

HDV74 holdings total

NameWeight
XOMEXXONMOBIL HOLDINGS CORP9.54%
CVXCHEVRON7.21%
ABBVABBVIE6.79%
PGPROCTER & GAMBLE5.49%
VZVERIZON COMMUNICATIONS INC5.22%
PMPHILIP MORRIS INTERNATIONAL5.08%
PFEPFIZER4.72%
HDHOME DEPOT4.52%
MRKMERCK & CO INC4.45%
KOCOCA-COLA4.43%

Quick verdict

DGRO fits better if you care most about faster dividend growth and broader diversification. HDV fits better if you care most about more income today, stronger 5-year returns and smaller drawdowns. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is DGRO or HDV better for dividend income?
It depends on your goals. DGRO currently yields 1.88% Trailing Twelve Months (TTM) while HDV yields 2.83%. 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 HDV?
iShares Core Dividend Growth ETF (DGRO) is an ETF listed on AMEX. iShares Core High Dividend ETF (HDV) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, DGRO or HDV?
They cost about the same: DGRO charges 0.08% a year and HDV charges 0.08%.
Which has performed better, DGRO or HDV?
Over the last 5 years, HDV has the higher total return with dividends reinvested: DGRO returned 64.5% and HDV returned 82.2%. Past performance does not predict future returns.
Which is riskier, DGRO or HDV?
Measured by the worst peak-to-trough decline over the last five years, DGRO has been riskier: DGRO fell as much as 19.3% and HDV as much as 15.4%. Their betas are 0.67 and 0.30.
How often do DGRO and HDV pay dividends?
Both pay quarterly. The most recent payments were $0.3850 for DGRO and $0.0560 for HDV.
How much income does $10,000 in DGRO vs HDV generate?
At current TTM yields, $10,000 in DGRO would generate roughly $15.71 per month ($188 annually). The same amount in HDV would produce about $23.58 per month ($283 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both DGRO and HDV?
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 HDV with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how DGRO and HDV 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.