Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
DGRO vs USMV: how they differ
DGRO and USMV hold 33% of their weight in the same names, and DGRO returned more over the year.
iShares Core Dividend Growth ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, DGRO and USMV hold 33% of their money in the same securities at the same weight.
| Holding | DGRO | USMV |
|---|---|---|
| CISCO SYSTEMS INC | 1.73% | 1.81% |
| EXXON MOBIL CORP | 2.91% | 1.60% |
| MICROSOFT CORP | 2.92% | 1.56% |
| JOHNSON & JOHNSON | 2.64% | 1.44% |
| COCA-COLA COMPANY (THE) | 1.80% | 1.20% |
| MERCK & COMPANY INC | 1.75% | 1.18% |
| INTERNATIONAL BUSINESS MACHINES CORP | 1.28% | 1.11% |
| PROCTER & GAMBLE COMPANY (THE) | 2.08% | 1.11% |
| MCDONALD'S CORP | 1.05% | 1.25% |
| PEPSICO INC | 1.70% | 1.02% |
| VISA INC | 1.05% | 0.94% |
| WALMART INC | 0.95% | 0.88% |
| Only in DGRO | Only in USMV |
|---|---|
| JP MORGAN CHASE & COMPANY 3.05% | NVIDIA CORPORATION 1.64% |
| BANK OF AMERICA CORP 1.84% | Chubb Limited 1.50% |
| WELLS FARGO & COMPANY 1.29% | VERIZON COMMUNICATIONS INC. 1.49% |
| MORGAN STANLEY 1.28% | BERKSHIRE HATHAWAY INC. 1.42% |
| GOLDMAN SACHS GROUP INC (THE) 1.19% | VERTEX PHARMACEUTICALS INCORPORATED 1.36% |
| CITIGROUP INC 1.12% | WASTE CONNECTIONS, INC. 1.28% |
| CONOCOPHILLIPS 0.99% | NEWMONT CORPORATION 1.18% |
| CATERPILLAR INC 0.79% | T-MOBILE US, INC. 1.17% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026.
| DGRO iShares Core Dividend Growth ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | Core Dividend Growth | MSCI USA Min Vol Factor |
| Total return, 1 year | +17.4% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −0.1 pts | −10.9 pts |
| Expense ratio | 0.08% | 0.15% |
| Already in the S&P 500 | 94.7% | 94.8% |
| Holdings | 394 | 170 |
DGRO in plain words
DGRO is an index equity fund tracking the Core Dividend Growth. Over the year to Sep 11, 2026 it returned +17.4% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.08% a year. By its holdings filed for Apr 30, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 394 positions, with the top ten at 26.6%.
USMV in plain words
USMV is an index equity fund tracking the MSCI USA Min Vol Factor. Over the year to Sep 11, 2026 it returned +6.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for Apr 30, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 170 positions, with the top ten at 15.7%.
Questions people ask
- Which returned more over the last year, DGRO or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, DGRO returned +17.4% and USMV returned +6.6%, so DGRO returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, DGRO or USMV?
- DGRO charges 0.08% a year and USMV charges 0.15%, so DGRO is cheaper. Fees come from each fund's prospectus.
- How much do DGRO and USMV overlap with the S&P 500?
- By their latest filed holdings, 95% of DGRO and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 33% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DGRO against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/DGRO-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources