DGRO vs DON: Grades, Fees and Holdings Compared

iShares Core Dividend Growth ETF

DGROANYSE Arca

WisdomTree U.S. MidCap Dividend Fund

DONBNYSE Arca

Overlap

4.3%by weight

Expense ratio

DGRO −0.30pt a year

DGRO0.08%DON0.38%

Avg volume · 30D

DGRO 8.6×the volume

DGRO1.39MDON161K

10Y return · a year

DGRO +4.6pt

DGRO+14.1%DON+9.5%

DGRO vs DON Performance

Oct 29, 2021 – Oct 30, 2026

+71.0%DGRO+48.8%DON

Expense ratio: DGRO 0.08%, better; DON 0.38%
Fund size: DGRO $45.3B; DON $3.99B
1Y total return: DGRO +21.5%, better; DON +15.7%
Yield (12M): DGRO 1.84%; DON 1.91%, better
Holdings: DGRO 394; DON 294
Avg volume (30D): DGRO 1.39M sh, better; DON 161K sh
NAV per share: DGRO $81.00; DON $57.33
52W range

ETF.net Grade

Pillar letters and Scores for DGRO, DON, with each pillar’s weight
Pillar	DGRO	DON
Cost30% weight	A88Higher	C45
Mission25% weight	A98	A98
Risk15% weight	A77Higher	F20
Tradability15% weight	A90Higher	B68
Holdings10% weight	B62	A84Higher
Durability5% weight	A87Higher	A73

Rank among US Dividend Index funds

How we build Categories ›

Same Category. DGRO and DON are both graded against the same 52 US Dividend Index funds, so their Grades compare head to head.

US Dividend Index⁠

Category · 52 funds

See all 52 ›

DGRO ranks 1st and DON 19th of 52 funds in the US Dividend Index Category.

Rank 1ADGROiShares Core Dividend Growth ETFScore 86
Rank 2ASCHDSchwab U.S. Dividend Equity ETFScore 81
Rank 18BSPDGState Street SPDR Portfolio S&P Sector Neutral Dividend ETFScore 65
Rank 19BDONWisdomTree U.S. MidCap Dividend FundScore 63
Rank 20BDHSWisdomTree U.S. High Dividend FundScore 62

Our read on each fund

ETF.net Research

DGROAiShares Core Dividend Growth ETF

DONBWisdomTree U.S. MidCap Dividend Fund

In short

DGRO BlackRock's dividend-growth screen casts a wider net than most: five straight years of raises rather than ten, plus a payout-ratio cap that filters out stretched payers. About 400 US dividend raisers, large through small cap, for 0.08% a year.

DON Most dividend funds read like a mega-cap roll call. DON deletes the 300 largest payers first, then weights what's left by the dollars of dividends each company is projected to pay. Mid-cap income, run the same way since 2006.

Stated mandate

DGRO The fund seeks to follow an index of U.S. equities whose dividends have grown consistently.

DON The Fund seeks to track the price and yield performance of dividend-paying mid-capitalization companies in the U.S. equity market. It uses passive indexing and generally invests in Index constituents or economically similar investments.

Why people hold it

DGRO Costs 0.08% a year, a small fraction of the typical fee among US dividend-screen ETFs.
The screen has teeth: a qualified dividend, five years of uninterrupted dividend growth, a payout ratio under 75%, and the top decile of yielders cut before the other tests run.ishares.com
Roughly 400 names across large, mid and small caps, weighted by the dividend dollars each company pays rather than by market cap.ishares.com cib.barclays
Tracks the Morningstar US Dividend Growth Index about as tightly as this group gets, and it's an actively traded, multi-billion-dollar fund that has run since 2014.

DON The index removes the 300 largest U.S. dividend payers before building, so DON holds mid-cap names that mega-cap-heavy dividend funds mostly skip.wisdomtree.com sec.gov
Weights come from projected cash dividends, not market cap, and any one sector is capped at 25% on the annual screening date.sec.gov
Plain passive indexing: roughly 300 holdings, tracking that has stayed close to its index, and cash out the door monthly.
Live since 2006 and now a multi-billion-dollar fund, so the strategy has a long paper trail rather than a launch-week backtest.

Worth knowing

DGRO Chopping the highest-yielding decile is deliberate: this is built around payout growth and dividend durability, not the fattest current yield on the shelf.ishares.com
Only dividend payers qualify, so some of the market's biggest non-paying growth companies sit outside the portfolio by rule.ishares.com
Income arrives quarterly, not monthly, and this is plain US stock exposure: no buffer, no hedge, full equity risk.

DON The 0.38% fee matches the median for dividend-screen funds but runs well above large-cap staples like VIG (0.04%) and SCHD (0.06%).
Mid-cap payers tend to move more than mega-cap stalwarts, and risk is the softest part of this fund's profile inside its dividend peer group.
The fund is classified as non-diversified, and sector weights can drift above that 25% cap between annual screenings.sec.gov

Full DGRO profile⁠

Full DON profile⁠

DGRO vs DON Holdings

How DGRO and DON differ

Overlap by weight

4.3%

Shared holdings make up 41.8% of DON and 4.3% of DGRO.

Level by level

Holdings134 in both4.3%
Sector11 Sectors64.7%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in DGRO and DON, widest gap first
Sector	More in DGROMore in DON	DGRO	DON
Health Care	DGRO +14.8 points	17.6%	2.8%
Technology	DGRO +12.8 points	17.8%	5.0%
Real Estate	DON +9.5 points	0.0%	9.5%
Consumer Staples	DGRO +7.7 points	12.6%	4.9%
Consumer Discretionary	DON +6.0 points	6.1%	12.1%
Materials	DON +5.0 points	2.4%	7.4%
Industrials	DON +3.9 points	11.2%	15.1%
Communication	DON +3.9 points	0.1%	4.0%
Energy	DON +3.7 points	5.8%	9.5%
Financials	DON +3.3 points	19.4%	22.7%
Utilities	Same weight	7.1%	7.1%

Country, concentration and asset class

Country by domicile

Country weights in DGRO and DON, widest gap first
Country	More in DGROMore in DON	DGRO	DON
United States	DON +0.8 points	99.2%	100.0%
Other countries (4)	DGRO +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

DGRO27.1%
DON13.0%

Securities held

DGRO391
DON292

Asset class

DGRO: Equity
DON: Equity

Holdings

Only in DGRO257
In both134
Only in DON158

Only in DGRO

257 securities, 95.4% of DGRO by weight

Exxonmobil Holdings Corp3.33%
AbbVie3.05%
Microsoft3.04%
Apple3.04%
Johnson & Johnson2.78%
JPMorgan Chase & Co2.66%
Procter & Gamble2.42%
Broadcom Inc2.40%
Philip Morris International2.27%
Home Depot2.07%
Coca-Cola1.92%
UnitedHealth Group1.85%
Merck & Co Inc1.81%
Pepsico1.75%
International Business Machines Co1.52%
Eli Lilly1.48%
Cisco Systems Inc1.38%
Amgen Inc1.26%
Bank of America1.26%
Wells Fargo1.22%
Accenture PLC Class A1.20%
Mcdonalds Corp1.15%
Nextera Energy1.13%
Visa Class A1.09%
Walmart1.08%
Morgan Stanley1.00%
Conocophillips1.00%
Gilead Sciences1.00%
Goldman Sachs Group0.98%
Abbott Laboratories0.93%
Citigroup0.87%
Rtx0.85%
Qualcomm0.83%
Medtronic PLC0.82%
Southern0.81%
Duke Energy Corp0.78%
Union Pacific0.77%
Lockheed Martin0.71%
BlackRock0.71%
Linde PLC0.69%
Mastercard Class A0.67%
Pnc Financial Services Group0.64%
Costco Wholesale Corp0.63%
Lowes Companies Inc0.62%
Automatic Data Processing Inc0.62%
Oracle0.61%
Mondelez International Class A0.59%
Analog Devices0.54%
Eog Resources0.53%
Caterpillar Inc0.50%

Only in DON

158 securities, 58.1% of DON by weight

Best Buy Co Inc1.56%
APA Corp1.53%
Viatris Inc1.53%
HF Sinclair Corp1.33%
Hasbro Inc1.32%
Franklin Resources Inc1.32%
Permian Resources Corp1.24%
Stanley Black & Decker Inc.1.14%
JM Smucker Co/The0.96%
Omnicom Group Inc0.95%
Intl Flavors & Fragrances0.90%
Antero Midstream Corp0.89%
AES Corp/The0.85%
Skyworks Solutions Inc0.84%
Pinnacle West Capital Corp0.83%
CF Industries Holdings Inc0.82%
Sirius Xm Holdings Inc0.79%
Clorox Co0.78%
Host Hotels & Resorts Inc0.78%
Kimco Realty Corp0.77%
Chord Energy Corp0.77%
UGI Corp0.76%
WP Carey Inc0.75%
Sun Communities Inc0.69%
Columbia Banking System Inc0.68%
Eastman Chemical Co0.65%
Dupont De Nemours Inc0.64%
Essex Property Trust Inc0.62%
Springleaf Holdings Inc0.56%
Blue Owl Capital Inc0.55%
Gen Digital Inc0.54%
Southwest Gas Holdings Inc0.52%
Campbell Soup Co0.52%
Lamar Advertising Co0.51%
Ball Corp0.50%
MSC Industrial Direct Co0.49%
Lincoln National Corp0.48%
Regency Centers Corp0.47%
UDR Inc0.47%
Vail Resorts Inc0.46%
Ally Financial Inc0.46%
First Horizon Corp0.45%
Pinnacle Financial Partners0.44%
Murphy Oil Corp0.43%
Valley National Bancorp0.43%
Portland General Electric Co0.42%
EastGroup Properties Inc0.40%
Albertsons Cos Inc - Class A0.40%
Match Group Inc0.39%
TKO Group Holdings Inc0.39%

Weight gaps

The 100 widest of 134 Holdings in both funds.

Holding weights in DGRO and DON, widest gap first
Holding	More in DGROMore in DON	DGRO	DON
American Financial GroupAFG	DON +0.99 points	0.06%	1.05%
Oge EnergyOGE	DON +0.81 points	0.08%	0.89%
OvintivOVV	DON +0.79 points	0.08%	0.87%
Snap On IncSNA	DON +0.73 points	0.10%	0.83%
Brown Forman Class ABF.A	DON +0.71 points	0.01%	0.72%
Penske Automotive Group Voting IncPAG	DON +0.70 points	0.02%	0.72%
Dillards Class ADDS	DON +0.64 points	<0.01%	0.64%
Essential Utilities IncWTRG	DON +0.59 points	0.09%	0.68%
Reliance Steel & AluminumRS	DON +0.58 points	0.06%	0.64%
UnumUNM	DON +0.49 points	0.06%	0.55%
Dt MidstreamDTM	DON +0.49 points	0.07%	0.56%
MascoMAS	DON +0.48 points	0.06%	0.54%
Equitable HoldingsEQH	DON +0.47 points	0.07%	0.54%
East West BancorpEWBC	DON +0.47 points	0.10%	0.57%
Fidelity National Financial IncFNF	DON +0.46 points	0.10%	0.56%
Lincoln Electric HoldingsLECO	DON +0.46 points	0.04%	0.50%
Avery Dennison CorpAVY	DON +0.43 points	0.07%	0.50%
National Fuel GasNFG	DON +0.42 points	0.04%	0.46%
Booz Allen Hamilton Holding ClassBAH	DON +0.41 points	0.07%	0.48%
Matador ResourcesMTDR	DON +0.40 points	0.04%	0.44%
Cullen Frost BankersCFR	DON +0.40 points	0.05%	0.45%
NordsonNDSN	DON +0.39 points	0.04%	0.43%
Zions BancorporationZION	DON +0.40 points	0.05%	0.45%
H&R Block IncHRB	DON +0.39 points	0.05%	0.44%
Ryder SystemR	DON +0.39 points	0.04%	0.43%
Jackson Financial Class AJXN	DON +0.38 points	0.04%	0.42%
Td SynnexSNX	DON +0.37 points	0.03%	0.40%
Rpm International IncRPM	DON +0.37 points	0.06%	0.43%
ToroTTC	DON +0.37 points	0.04%	0.41%
PopularBPOP	DON +0.35 points	0.04%	0.39%
Crown Holdings IncCCK	DON +0.34 points	0.04%	0.38%
New Jersey Resources CorpNJR	DON +0.35 points	0.04%	0.39%
Black Hills CorpBKH	DON +0.35 points	0.05%	0.40%
Oshkosh CorpOSK	DON +0.34 points	0.03%	0.37%
Southstate Bank CorpSSB	DON +0.34 points	0.05%	0.39%
Rli CorpRLI	DON +0.34 points	0.02%	0.36%
Carlisle CompaniesCSL	DON +0.33 points	0.05%	0.38%
Hanover Insurance GroupTHG	DON +0.33 points	0.03%	0.36%
IdacorpIDA	DON +0.34 points	0.04%	0.38%
Jb Hunt Transport ServicesJBHT	DON +0.33 points	0.02%	0.35%
Jefferies Financial Group IncJEF	DON +0.33 points	0.04%	0.37%
Huntington Ingalls IndustriesHII	DON +0.33 points	0.05%	0.38%
Voya FinancialVOYA	DON +0.31 points	0.04%	0.35%
Spire IncSR	DON +0.31 points	0.04%	0.35%
New York Times Class ANYT	DON +0.31 points	0.03%	0.34%
DonaldsonDCI	DON +0.31 points	0.03%	0.34%
MosaicMOS	DON +0.31 points	0.04%	0.35%
Old Republic InternationalORI	DON +0.30 points	0.06%	0.36%
Texas Roadhouse IncTXRH	DON +0.30 points	0.04%	0.34%
Nexstar Media Group IncNXST	DON +0.30 points	0.04%	0.34%
Assurant IncAIZ	DON +0.29 points	0.04%	0.33%
Royal GoldRGLD	DON +0.30 points	0.03%	0.33%
Itt IncITT	DON +0.29 points	0.03%	0.32%
NewmarketNEU	DON +0.29 points	0.02%	0.31%
Stifel FinancialSF	DON +0.29 points	0.04%	0.33%
Ingredion IncINGR	DON +0.29 points	0.04%	0.33%
ServiceSCI	DON +0.29 points	0.04%	0.33%
Erie Indemnity Class AERIE	DON +0.28 points	0.03%	0.31%
Prosperity BancsharesPB	DON +0.27 points	0.06%	0.33%
Lamb Weston HoldingsLW	DON +0.27 points	0.05%	0.32%
First American Financial CorpFAF	DON +0.27 points	0.04%	0.31%
Jacobs Solutions IncJ	DON +0.27 points	0.04%	0.31%
Mgic InvestmentMTG	DON +0.26 points	0.03%	0.29%
Mueller Industries IncMLI	DON +0.26 points	0.03%	0.29%
One GasOGS	DON +0.24 points	0.04%	0.28%
TimkenTKR	DON +0.24 points	0.02%	0.26%
Knight-Swift Transportation HoldinKNX	DON +0.25 points	0.02%	0.27%
Bok Financial CorpBOKF	DON +0.24 points	<0.01%	0.25%
Dominos PizzaDPZ	DON +0.24 points	0.05%	0.29%
A O SmithAOS	DON +0.23 points	0.04%	0.27%
LittelfuseLFUS	DON +0.23 points	0.02%	0.25%
Factset Research SystemsFDS	DON +0.23 points	0.04%	0.27%
Landstar SystemLSTR	DON +0.23 points	0.01%	0.24%
AptargroupATR	DON +0.23 points	0.03%	0.26%
PoolPOOL	DON +0.23 points	0.04%	0.27%
GracoGGG	DON +0.22 points	0.04%	0.26%
Evercore Class AEVR	DON +0.22 points	0.02%	0.24%
Applied Industrial TechnologiesAIT	DON +0.23 points	0.01%	0.23%
Home Bancshares IncHOMB	DON +0.21 points	0.04%	0.25%
Watts Water Technologies Class AWTS	DON +0.22 points	0.01%	0.23%
Warner Music Group Class AWMG	DON +0.21 points	0.03%	0.24%
Wyndham Hotels ResortsWH	DON +0.21 points	0.03%	0.24%
Allison Transmission HoldingsALSN	DON +0.20 points	0.02%	0.22%
Sei InvestmentsSEIC	DON +0.20 points	0.02%	0.22%
Western AllianceWAL	DON +0.19 points	0.04%	0.23%
CognexCGNX	DON +0.19 points	0.01%	0.20%
Toll Brothers IncTOL	DON +0.19 points	0.02%	0.21%
Lennox InternationalLII	DON +0.19 points	0.03%	0.22%
Umb FinancialUMBF	DON +0.18 points	0.03%	0.21%
Commerce BancsharesCBSH	DON +0.19 points	0.03%	0.22%
PrimericaPRI	DON +0.18 points	0.03%	0.21%
Houlihan Lokey Class AHLI	DON +0.18 points	0.03%	0.21%
Moog Inc Class AMOG.A	DON +0.18 points	<0.01%	0.19%
AgcoAGCO	DON +0.18 points	0.01%	0.19%
Jack Henry and Associates IncJKHY	DON +0.17 points	0.04%	0.21%
GatxGATX	DON +0.18 points	0.02%	0.20%
Wintrust FinancialWTFC	DON +0.18 points	0.03%	0.21%
Acushnet Holdings CorpGOLF	DON +0.17 points	<0.01%	0.18%
Fortune Brands InnovationsFBIN	DON +0.17 points	0.03%	0.20%
Msa Safety IncMSA	DON +0.17 points	0.02%	0.19%

All 391 DGRO holdings⁠All 333 DON holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DGRO vs DON Cost

Overpaying DON vs DGRO

$6,017

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DGRO 0.08%
$1,689
DON 0.38%
$7,706

Amount$10,000

Years30 years

Cost over time

DGRO 0.08%
DON 0.38%
Overpaying

Year by year

Year	DGRO	DON	Overpaying
10	$147	$688	$541
20	$575	$2,658	$2,083
30	$1,689	$7,706	$6,017

Expense ratio

0.08%DGRO, cheaper
0.38%DON

DGRO0.08%DON0.38%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

DGRO 8th cheapest of 52 funds

DON 28th cheapest of 52 funds

DGRO vs DON Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DGRO 1.84%; DON 1.91%, better
Payout (12M): DGRO $1.49; DON $1.09
Last payment: DGRO $0.39; DON $0.09
Ex-dividend: DGRO Sep 15, 2026; DON Oct 27, 2026
Paid on: DGRO Sep 18, 2026; DON Oct 29, 2026
Frequency: DGRO Quarterly; DON Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DGROQuarterly · 15 paymentsAll DGRO payments⁠

DONMonthly · 46 paymentsAll DON payments⁠

DGRO vs DON Risk

Fall from peak · 5 years

DGRO
DON

Risk facts

VolatilityStd dev, 3 years: DGRO 10.8%, betterDON 15.0%
Return per unit of riskSharpe ratio, 3 years: DGRO 1.47, betterDON 0.76
Worst fallMax drawdown, 5 years: DGRO −19.3%, betterDON −21.7%
Market sensitivityBeta, 5 years: DGRO 0.67DON 0.80; Market = 1

DGRO and DON in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026DGRO
Best ETFs
For a rising dividend, iShares Core Dividend Growth ETF ranks first
Updated Nov 2, 2026DGRO
New ETFs
Eventide lists two ETFs at 0.75% and 0.95% for strategies it already runs
Oct 30, 2026DGRO
Best ETFs
Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.
Updated Oct 2, 2026DGRO
Income Watch
A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%
Sep 20, 2026DGRO
New ETFs
Raub Brock lists HQDG, an active dividend-growth ETF priced at 0.50%
Sep 8, 2026DGRO

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DGRO vs DON

In short

Stated mandate

Why people hold it