Data as of Oct 28, 2026.
DGRO vs VOE: Differences, Returns & Fees
Over the year to Oct 28, 2026, DGRO returned +18.8% to VOE's +22.8%; 14% of their weight is in the same names.
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Net assets: $44.6bn on Oct 27, 2026 for iShares Core Dividend Growth ETF, and $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.
Pair scorecard
VOE costs 0.03 points a year less; their one-year returns differ by 4.0 points; DGRO is 1.8 times larger.
| Measure | DGRO | VOE |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.8% | +22.8% |
| Benchmark | ||
| What it tracks | Morningstar US Dividend Growth Index | Morningstar US Mid Cap Value Index |
| Cost and size | ||
| Expense ratio | 0.08% | 0.05% |
| Net assets, as of Sep 30, 2026 | $41.9bn | $22.8bn |
| Holdings | ||
| Holdings in common | 14% | |
| Top ten holdings, share of the fund | 27.2% | 14.0% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Jun 20, 2014 to Oct 23, 2026 · 644 weekly returnsDGRO returned more: +321.3% to +216.2%. DGRO swung less: 15.3% to 18.3%. DGRO fell less at its worst: −32.1% to −40.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | DGRO | VOE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +321.3% | +216.2% | DGRO | Price change plus distributions, reinvested. |
| Annualized | +12.3% | +9.7% | DGRO | Total return as a yearly rate. |
| Price return | +216.7% | +140.0% | DGRO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 15.3% | 18.3% | DGRO | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.7% | 12.9% | DGRO | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −32.1% | −40.6% | DGRO | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.70 | 0.49 | DGRO | Return above Treasury bills per unit of volatility. |
| Sortino | 1.00 | 0.69 | DGRO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.38 | 0.24 | DGRO | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 644 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, DGRO and VOE hold 14% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
14% in common
Only in one fund ↓
Side by side
DGRO and VOE on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
DGRO and VOE do different jobs. What does each one do in a portfolio?
- What each follows. DGRO follows Morningstar US Dividend Growth Index and VOE follows Morningstar US Mid Cap Value Index.
- Holdings in common. 14% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 DGRO returned +18.8% and VOE +22.8% with distributions reinvested, a gap of 4.0 points.
Data as of Oct 28, 2026.
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DGRO
DGRO tracks an index of Dividend Growth. Over the year to Oct 28, 2026 it returned +18.8% with distributions reinvested. The prospectus expense ratio is 0.08% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 393 positions, with the top ten at 27.2%.
VOE
VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.
Questions people ask
- Which returned more over the last year, DGRO or VOE?
- In the year to Oct 28, 2026, with distributions reinvested, DGRO returned +18.8% and VOE +22.8%.
- Which is cheaper, DGRO or VOE?
- VOE is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, DGRO against VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/dgro-vs-voe
ETFIQ. (Oct 28, 2026). DGRO against VOE. Retrieved from https://etfiq.com/compare/any/dgro-vs-voe
[DGRO against VOE (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/dgro-vs-voe)
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