DGRO vs OUSA: Grades, Fees and Holdings Compared

iShares Core Dividend Growth ETF

DGROANYSE Arca

ALPS Funds O’Shares U.S. Quality Dividend ETF

OUSACNYSE Arca

Overlap

44.4%by weight

Expense ratio

DGRO −0.40pt a year

DGRO0.08%OUSA0.48%

Avg volume · 30D

DGRO 66.8×the volume

DGRO1.39MOUSA20.8K

10Y return · a year

DGRO +2.9pt

DGRO+14.1%OUSA+11.2%

DGRO vs OUSA Performance

Oct 29, 2021 – Oct 30, 2026

+71.0%DGRO+55.9%OUSA

Expense ratio: DGRO 0.08%, better; OUSA 0.48%
Fund size: DGRO $45.3B; OUSA $735M
1Y total return: DGRO +21.5%, better; OUSA +14.1%
Yield (12M): DGRO 1.84%, better; OUSA 1.34%
Holdings: DGRO 394; OUSA 101
Avg volume (30D): DGRO 1.39M sh, better; OUSA 20.8K sh
NAV per share: DGRO $81.00; OUSA $62.95
52W range

ETF.net Grade

Pillar letters and Scores for DGRO, OUSA, with each pillar’s weight
Pillar	DGRO	OUSA
Cost30% weight	A88Higher	F22
Mission25% weight	A98Higher	A81
Risk15% weight	A77Higher	C54
Tradability15% weight	A90Higher	B55
Holdings10% weight	B62Higher	D36
Durability5% weight	A87Higher	B59

Rank among US Dividend Index funds

How we build Categories ›

Same Category. DGRO and OUSA 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 OUSA 37th 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 37CJHDVJohn Hancock U.S. High Dividend ETFScore 49
Rank 37COUSAALPS Funds O’Shares U.S. Quality Dividend ETFScore 49
Rank 37CQDFNorthern Trust Quality Dividend ETFScore 49

Our read on each fund

ETF.net Research

DGROAiShares Core Dividend Growth ETF

OUSACALPS Funds O’Shares U.S. Quality Dividend ETF

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.

OUSA Three filters, one dividend fund: quality, low volatility and dividend growth, stacked on US large- and mid-caps, then paid out monthly. The boutique, premium-priced take in an aisle stocked with cheap giants.

Stated mandate

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

OUSA OUSA seeks, before fees and expenses, to track the O'Shares U.S. Quality Dividend Index. It is designed to provide access to U.S. large- and mid-cap dividend-paying companies selected using quality, low-volatility and dividend-growth measures.

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.

OUSA No yield chase. The index screens US large- and mid-caps on quality, low volatility and dividend growth, so the filters come before the payout.alpsfunds.com
Distributions land monthly, and the portfolio stays tight at roughly 100 names rather than sprawling across the whole dividend market.
Live since 2015, with real trading history through rate swings and drawdowns instead of a backtest. The holdings line up with the index it advertises.

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.

OUSA At 0.48% a year it costs more than the typical dividend screener, and index heavyweights like SCHD, VIG and DGRO charge a fraction of that.
Trading is thin next to the category's giants, which can mean wider spreads on the way in and on the way out.
In a crowded field of dividend screeners it sits in the lower stretch overall, with cost the main drag on an otherwise on-mandate portfolio.

Full DGRO profile⁠

Full OUSA profile⁠

DGRO vs OUSA Holdings

How DGRO and OUSA differ

Overlap by weight

44.4%

Shared holdings make up 81.1% of OUSA and 61.1% of DGRO.

Level by level

Holdings79 in both44.4%
Sector10 Sectors74.1%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in DGRO and OUSA, widest gap first
Sector	More in DGROMore in OUSA	DGRO	OUSA
Communication	OUSA +13.0 points	0.1%	13.1%
Technology	OUSA +6.9 points	17.8%	24.7%
Consumer Staples	DGRO +6.2 points	12.6%	6.4%
Consumer Discretionary	OUSA +6.0 points	6.1%	12.1%
Energy	DGRO +5.8 points	5.8%	0.0%
Utilities	DGRO +5.1 points	7.1%	2.0%
Health Care	DGRO +4.2 points	17.6%	13.4%
Materials	DGRO +2.4 points	2.4%	0.0%
Financials	DGRO +1.6 points	19.4%	17.8%
Industrials	DGRO +0.7 points	11.2%	10.5%

Country, concentration and asset class

Country by domicile

Country weights in DGRO and OUSA, widest gap first
Country	More in DGROMore in OUSA	DGRO	OUSA
United States	DGRO +0.6 points	99.2%	98.5%
China	OUSA +0.5 points	0.2%	0.7%
Other countries (3)	OUSA +0.2 points	0.5%	0.7%

Concentration

Weight in the 10 largest Holdings

DGRO27.1%
OUSA41.8%

Securities held

DGRO391
OUSA100

Asset class

DGRO: Equity
OUSA: Equity

Holdings

Only in DGRO312
In both79
Only in OUSA21

Only in DGRO

312 securities, 38.6% of DGRO by weight

Exxonmobil Holdings Corp3.33%
Bank of America1.26%
Wells Fargo1.22%
Walmart1.08%
Morgan Stanley1.00%
Conocophillips1.00%
Gilead Sciences1.00%
Goldman Sachs Group0.98%
Citigroup0.87%
Southern0.81%
Duke Energy Corp0.78%
Linde PLC0.69%
Pnc Financial Services Group0.64%
Oracle0.61%
Eog Resources0.53%
Phillips 660.49%
American Electric Power Inc0.47%
Cme Group Class A0.44%
Sempra0.38%
Air Products and Chemicals0.37%
Deere0.34%
Xcel Energy Inc0.34%
Bank of New York Mellon Corp0.33%
Elevance Health Inc0.32%
Applied Material Inc0.31%
Consolidated Edison0.31%
Fifth Third Bancorp0.31%
Keurig Dr Pepper Inc0.30%
Wec Energy Group0.29%
Public Service Enterprise Group0.29%
Emerson Electric0.29%
Metlife0.28%
Becton Dickinson0.27%
Entergy Corp0.27%
Intercontinental Exchange Inc0.27%
Danaher0.25%
Nxp Semiconductors NV0.24%
Sysco0.24%
Fedex Corp0.23%
Ares Management Class A0.22%
Microchip Technology Inc0.22%
Kla0.22%
Lam Research0.22%
L3HARRIS Technologies0.22%
Kroger0.22%
Crh Public Limited PLC0.22%
Johnson Controls International PLC0.22%
Dte Energy0.21%
Ameren0.19%
Archer Daniels Midland0.19%

Only in OUSA

21 securities, 18.8% of OUSA by weight

Alphabet Inc.4.01%
Meta Platforms Inc.2.05%
AT&T Inc.1.77%
Texas Instruments Inc.1.44%
Walt Disney Co.1.30%
Verizon Communications Inc.1.25%
T-Mobile US Inc.1.22%
Bristol-Myers Squibb Co.1.09%
Comcast Corp.0.95%
Altria Group Inc.0.59%
Paychex Inc.0.55%
NVIDIA Corp.0.47%
VeriSign Inc.0.44%
Cboe Global Markets Inc.0.42%
Booking Holdings Inc.0.38%
T Rowe Price Group Inc.0.22%
General Electric Co.0.22%
3M Co.0.17%
Kimberly-Clark Corp.0.10%
Kenvue Inc.0.07%
Hershey Co.0.06%

Weight gaps

All 79 Holdings in both funds, largest gap first.

Holding weights in DGRO and OUSA, widest gap first
Holding	More in DGROMore in OUSA	DGRO	OUSA
Mastercard Class AMA	OUSA +4.36 points	0.67%	5.03%
Visa Class AV	OUSA +4.29 points	1.09%	5.38%
TjxTJX	OUSA +2.56 points	0.49%	3.04%
Johnson & JohnsonJNJ	OUSA +2.12 points	2.78%	4.90%
JPMorgan Chase & CoJPM	DGRO +2.07 points	2.66%	0.59%
MicrosoftMSFT	OUSA +2.02 points	3.04%	5.06%
AppleAAPL	OUSA +2.00 points	3.04%	5.04%
AbbVieABBV	DGRO +1.91 points	3.05%	1.14%
Broadcom IncAVGO	DGRO +1.76 points	2.40%	0.64%
Home DepotHD	OUSA +1.75 points	2.07%	3.82%
Philip Morris InternationalPM	DGRO +1.57 points	2.27%	0.70%
Mcdonalds CorpMCD	OUSA +1.53 points	1.15%	2.68%
Merck & Co IncMRK	DGRO +1.51 points	1.81%	0.30%
Cisco Systems IncCSCO	OUSA +1.49 points	1.38%	2.87%
UnitedHealth GroupUNH	DGRO +1.48 points	1.85%	0.37%
International Business Machines CoIBM	DGRO +1.19 points	1.52%	0.33%
PepsicoPEP	DGRO +1.05 points	1.75%	0.70%
Accenture PLC Class AACN	OUSA +0.89 points	1.20%	2.09%
Nextera EnergyNEE	OUSA +0.88 points	1.13%	2.01%
Allstate CorpALL	OUSA +0.81 points	0.24%	1.05%
Illinois Tool IncITW	OUSA +0.67 points	0.41%	1.08%
Procter & GamblePG	DGRO +0.66 points	2.42%	1.76%
Motorola Solutions IncMSI	OUSA +0.67 points	0.18%	0.85%
Amgen IncAMGN	OUSA +0.66 points	1.26%	1.92%
Automatic Data Processing IncADP	OUSA +0.63 points	0.62%	1.25%
MarshMRSH	OUSA +0.61 points	0.44%	1.05%
Lowes Companies IncLOW	OUSA +0.58 points	0.62%	1.20%
Moodys CorpMCO	OUSA +0.57 points	0.13%	0.70%
FastenalFAST	OUSA +0.55 points	0.26%	0.81%
CintasCTAS	OUSA +0.53 points	0.17%	0.70%
Yum BrandsYUM	OUSA +0.52 points	0.18%	0.70%
Te Connectivity PLCTEL	OUSA +0.50 points	0.20%	0.70%
Amphenol Corp Class AAPH	OUSA +0.49 points	0.26%	0.75%
RtxRTX	DGRO +0.47 points	0.85%	0.38%
QualcommQCOM	DGRO +0.47 points	0.83%	0.36%
Mondelez International Class AMDLZ	DGRO +0.47 points	0.59%	0.12%
BlackRockBLK	DGRO +0.46 points	0.71%	0.25%
Coca-ColaKO	DGRO +0.44 points	1.92%	1.48%
Medtronic PLCMDT	DGRO +0.44 points	0.82%	0.38%
Travelers CompaniesTRV	OUSA +0.33 points	0.24%	0.57%
MsciMSCI	OUSA +0.32 points	0.14%	0.46%
General Dynamics CorpGD	OUSA +0.31 points	0.35%	0.66%
Aon PLC Class AAON	OUSA +0.29 points	0.15%	0.44%
Snap On IncSNA	OUSA +0.27 points	0.10%	0.37%
S&P GlobalSPGI	OUSA +0.24 points	0.26%	0.50%
Otis WorldwideOTIS	OUSA +0.23 points	0.16%	0.39%
American ExpressAXP	DGRO +0.23 points	0.43%	0.20%
Cognizant Technology Solutions ClaCTSH	OUSA +0.23 points	0.13%	0.36%
Union PacificUNP	OUSA +0.22 points	0.77%	0.98%
Ww Grainger IncGWW	OUSA +0.21 points	0.10%	0.31%
Analog DevicesADI	OUSA +0.20 points	0.54%	0.74%
Colgate-PalmoliveCL	DGRO +0.19 points	0.40%	0.21%
ChubbCB	OUSA +0.18 points	0.33%	0.51%
Zoetis Inc Class AZTS	OUSA +0.18 points	0.20%	0.38%
Hartford Insurance GroupHIG	OUSA +0.17 points	0.14%	0.31%
Ross Stores IncROST	OUSA +0.17 points	0.12%	0.29%
Eli LillyLLY	OUSA +0.17 points	1.48%	1.65%
Cincinnati FinancialCINF	OUSA +0.16 points	0.13%	0.29%
Trane Technologies PLCTT	OUSA +0.15 points	0.18%	0.33%
Costco Wholesale CorpCOST	OUSA +0.14 points	0.63%	0.77%
Eaton PLCETN	DGRO +0.14 points	0.33%	0.19%
StrykerSYK	OUSA +0.14 points	0.27%	0.41%
Ametek IncAME	OUSA +0.13 points	0.07%	0.20%
Caterpillar IncCAT	DGRO +0.13 points	0.50%	0.37%
Parker-HannifinPH	OUSA +0.12 points	0.20%	0.32%
Broadridge Financial Solutions IncBR	OUSA +0.13 points	0.10%	0.23%
CignaCI	DGRO +0.12 points	0.36%	0.24%
EbayEBAY	OUSA +0.08 points	0.14%	0.22%
CsxCSX	OUSA +0.06 points	0.24%	0.30%
IntuitINTU	OUSA +0.06 points	0.29%	0.35%
GarminGRMN	OUSA +0.06 points	0.14%	0.20%
Northrop Grumman CorpNOC	OUSA +0.05 points	0.33%	0.38%
Abbott LaboratoriesABT	DGRO +0.05 points	0.93%	0.88%
Lockheed MartinLMT	OUSA +0.03 points	0.71%	0.74%
Waste Management IncWM	OUSA +0.02 points	0.32%	0.34%
Cummins IncCMI	OUSA +0.02 points	0.23%	0.25%
Paccar IncPCAR	OUSA +0.01 points	0.12%	0.13%
Honeywell International IncHON	DGRO +0.01 points	0.20%	0.19%
AflacAFL	Same weight	0.25%	0.25%

All 391 DGRO holdings⁠All 101 OUSA 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 OUSA Cost

Overpaying OUSA vs DGRO

$7,916

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

DGRO 0.08%
$1,689
OUSA 0.48%
$9,605

Amount$10,000

Years30 years

Cost over time

DGRO 0.08%
OUSA 0.48%
Overpaying

Year by year

Year	DGRO	OUSA	Overpaying
10	$147	$865	$718
20	$575	$3,328	$2,753
30	$1,689	$9,605	$7,916

Expense ratio

0.08%DGRO, cheaper
0.48%OUSA

DGRO0.08%OUSA0.48%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

DGRO 8th cheapest of 52 funds

OUSA 41st cheapest of 52 funds

DGRO vs OUSA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DGRO 1.84%, better; OUSA 1.34%
Payout (12M): DGRO $1.49; OUSA $0.85
Last payment: DGRO $0.39; OUSA $0.09
Ex-dividend: DGRO Sep 15, 2026; OUSA Oct 22, 2026
Paid on: DGRO Sep 18, 2026; OUSA Oct 27, 2026
Frequency: DGRO Quarterly; OUSA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DGROQuarterly · 15 paymentsAll DGRO payments⁠

OUSAMonthly · 46 paymentsAll OUSA payments⁠

DGRO vs OUSA Risk

Fall from peak · 5 years

DGRO
OUSA

Risk facts

VolatilityStd dev, 3 years: DGRO 10.8%OUSA 10.7%, better
Return per unit of riskSharpe ratio, 3 years: DGRO 1.47, betterOUSA 1.10
Worst fallMax drawdown, 5 years: DGRO −19.3%, betterOUSA −19.5%
Market sensitivityBeta, 5 years: DGRO 0.67OUSA 0.72; Market = 1

DGRO and OUSA 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

Popular comparisons

DGROAvsSCHDA
iShares Core Dividend Growth ETF · Schwab U.S. Dividend Equity ETF
Expense ratio
0.08% · 0.06%
Category
OUSACvsSCHDA
ALPS Funds O’Shares U.S. Quality Dividend ETF · Schwab U.S. Dividend Equity ETF
Expense ratio
0.48% · 0.06%
Category
DGROAvsDIVBA
iShares Core Dividend Growth ETF · iShares Core Dividend ETF
Expense ratio
0.08% · 0.05%
Category
OUSACvsDIVBA
ALPS Funds O’Shares U.S. Quality Dividend ETF · iShares Core Dividend ETF
Expense ratio
0.48% · 0.05%
Category
DGROAvsSPYDA
iShares Core Dividend Growth ETF · State Street SPDR Portfolio S&P 500 High Dividend ETF
Expense ratio
0.08% · 0.07%
Category
OUSACvsSPYDA
ALPS Funds O’Shares U.S. Quality Dividend ETF · State Street SPDR Portfolio S&P 500 High Dividend ETF
Expense ratio
0.48% · 0.07%
Category