DGRO vs TMDV: Grades, Fees and Holdings Compared

iShares Core Dividend Growth ETF

DGROANYSE Arca

ProShares Russell U.S. Dividend Growers ETF

TMDVCCboe

Overlap

16.0%by weight

Expense ratio

DGRO −0.27pt a year

DGRO0.08%TMDV0.35%

Avg volume · 30D

DGRO 7255.8×the volume

DGRO1.39MTMDV191

5Y return · a year

DGRO +6.7pt

DGRO+11.3%TMDV+4.6%

DGRO vs TMDV Performance

Oct 29, 2021 – Oct 30, 2026

+71.0%DGRO+25.3%TMDV

Expense ratio: DGRO 0.08%, better; TMDV 0.35%
Fund size: DGRO $45.3B; TMDV $5M
1Y total return: DGRO +21.5%, better; TMDV +18.6%
Yield (12M): DGRO 1.84%; TMDV 2.46%, better
Holdings: DGRO 394; TMDV 66
Avg volume (30D): DGRO 1.39M sh, better; TMDV 191 sh
NAV per share: DGRO $81.00; TMDV $53.20
52W range

ETF.net Grade

Pillar letters and Scores for DGRO, TMDV, with each pillar’s weight
Pillar	DGRO	TMDV
Cost30% weight	A88Higher	B57
Mission25% weight	A98Higher	A84
Risk15% weight	A77Higher	D33
Tradability15% weight	A90Higher	F4
Holdings10% weight	B62	B69Higher
Durability5% weight	A87Higher	D34

Rank among US Dividend Index funds

How we build Categories ›

Same Category. DGRO and TMDV 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 TMDV 46th 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 46CFTDSFirst Trust Dividend Strength ETFScore 40
Rank 46CTMDVProShares Russell U.S. Dividend Growers ETFScore 40
Rank 48DDDIVFirst Trust Dorsey Wright Momentum & Dividend ETFScore 37

Our read on each fund

ETF.net Research

DGROAiShares Core Dividend Growth ETF

TMDVCProShares Russell U.S. Dividend Growers 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.

TMDV A dividend fund built around a longevity test: TMDV holds roughly 60 U.S. companies with long unbroken records of raising their payouts, drawn from the full Russell 3000 rather than only the mega-cap crowd.

Stated mandate

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

TMDV TMDV seeks to track, before fees and expenses, the Russell 3000 Dividend Elite Index, which selects U.S. companies with long records of annual dividend increases.

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.

TMDV The screen is the whole story: only U.S. companies with long records of annual dividend increases make the Russell 3000 Dividend Elite Index.proshares.com
At 0.35%, it undercuts the typical fund in its dividend-screen peer group.
About 60 names pulled from the whole Russell 3000, so mid-sized dividend raisers can qualify, not just the usual large-cap payers.proshares.com
Rules-based and legible: one published index, quarterly distributions, and a portfolio that has stayed close to that stated mandate since the 2019 launch.

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.

TMDV Small asset base and thin trading volume, so the cost of getting in and out can matter more here than with the category's heavyweights.
0.35% is several times what the largest dividend-growth funds charge: VIG, SCHD and DGRO all sit under a tenth of a percent.
With roughly 60 holdings, single names and sector tilts carry real weight next to broad dividend funds that own hundreds of stocks.

Full DGRO profile⁠

Full TMDV profile⁠

DGRO vs TMDV Holdings

How DGRO and TMDV differ

Overlap by weight

16.0%

Shared holdings make up 62.2% of TMDV and 18.6% of DGRO.

Level by level

Holdings40 in both16.0%
Sector11 Sectors66.5%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in DGRO and TMDV, widest gap first
Sector	More in DGROMore in TMDV	DGRO	TMDV
Technology	DGRO +14.9 points	17.8%	2.9%
Health Care	DGRO +11.5 points	17.6%	6.1%
Consumer Staples	TMDV +10.4 points	12.6%	23.0%
Materials	TMDV +8.4 points	2.4%	10.8%
Industrials	TMDV +6.5 points	11.2%	17.7%
Utilities	TMDV +5.2 points	7.1%	12.3%
Financials	DGRO +4.2 points	19.4%	15.2%
Real Estate	TMDV +3.0 points	0.0%	3.0%
Energy	DGRO +2.7 points	5.8%	3.1%
Communication	DGRO +0.1 points	0.1%	0.0%
Consumer Discretionary	DGRO +0.1 points	6.1%	6.0%

Country, concentration and asset class

Country by domicile

Country weights in DGRO and TMDV, widest gap first
Country	More in DGROMore in TMDV	DGRO	TMDV
United States	TMDV +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%
TMDV16.9%

Securities held

DGRO391
TMDV65

Asset class

DGRO: Equity
TMDV: Equity

Holdings

Only in DGRO351
In both40
Only in TMDV25

Only in DGRO

351 securities, 81.2% of DGRO by weight

Exxonmobil Holdings Corp3.33%
AbbVie3.05%
Microsoft3.04%
Apple3.04%
JPMorgan Chase & Co2.66%
Broadcom Inc2.40%
Philip Morris International2.27%
Home Depot2.07%
UnitedHealth Group1.85%
Merck & Co Inc1.81%
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%
Nextera Energy1.13%
Visa Class A1.09%
Morgan Stanley1.00%
Conocophillips1.00%
Gilead Sciences1.00%
Goldman Sachs Group0.98%
Citigroup0.87%
Rtx0.85%
Qualcomm0.83%
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%
Oracle0.61%
Mondelez International Class A0.59%
Analog Devices0.54%
Eog Resources0.53%
Caterpillar Inc0.50%
Tjx0.49%
Phillips 660.49%
American Electric Power Inc0.47%
Marsh0.44%
Cme Group Class A0.44%
American Express0.43%
Sempra0.38%
Cigna0.36%
General Dynamics Corp0.35%
Deere0.34%

Only in TMDV

25 securities, 37.5% of TMDV by weight

Abm Industries Inc1.73%
Stepan Co1.70%
Chevron Corp1.70%
Mcgrath Rentcorp1.64%
Stanley Black & Decker Inc1.64%
Marzetti Company/The1.58%
United Bankshares Inc1.55%
Northwest Natural Holding Co1.54%
Kimberly-Clark Corp1.52%
Hormel Foods Corp1.50%
Middlesex Water Co1.48%
American States Water Co1.47%
California Water Service Grp1.46%
Gorman-Rupp Co1.46%
Sonoco Products Co1.45%
Franklin Templeton Inc1.44%
Target Corp1.44%
Federal Realty Invs Trust1.44%
T Rowe Price Group Inc1.43%
Clorox Company1.43%
H2O America1.41%
H.b. Fuller Co.1.41%
Nnn Reit Inc1.38%
Universal Corp/Va1.37%
Community Trust Bancorp Inc1.36%

Weight gaps

All 40 Holdings in both funds, largest gap first.

Holding weights in DGRO and TMDV, widest gap first
Holding	More in DGROMore in TMDV	DGRO	TMDV
Black Hills CorpBKH	TMDV +1.66 points	0.05%	1.71%
Carlisle CompaniesCSL	TMDV +1.62 points	0.05%	1.67%
DoverDOV	TMDV +1.59 points	0.07%	1.66%
Rli CorpRLI	TMDV +1.53 points	0.02%	1.55%
Brown Forman Class BBF.B	TMDV +1.53 points	0.06%	1.59%
NordsonNDSN	TMDV +1.51 points	0.04%	1.55%
Ppg IndustriesPPG	TMDV +1.50 points	0.15%	1.65%
Ww Grainger IncGWW	TMDV +1.49 points	0.10%	1.59%
NucorNUE	TMDV +1.47 points	0.12%	1.59%
Rpm International IncRPM	TMDV +1.45 points	0.06%	1.51%
Cincinnati FinancialCINF	TMDV +1.46 points	0.13%	1.59%
Msa Safety IncMSA	TMDV +1.43 points	0.02%	1.45%
National Fuel GasNFG	TMDV +1.41 points	0.04%	1.45%
Atmos EnergyATO	TMDV +1.41 points	0.15%	1.56%
Mobility Global IncMBGL	TMDV +1.41 points	<0.01%	1.41%
Commerce BancsharesCBSH	TMDV +1.41 points	0.03%	1.44%
Emerson ElectricEMR	TMDV +1.38 points	0.29%	1.67%
Sherwin WilliamsSHW	TMDV +1.37 points	0.16%	1.53%
AflacAFL	TMDV +1.35 points	0.25%	1.60%
Becton DickinsonBDX	TMDV +1.34 points	0.27%	1.61%
Consolidated EdisonED	TMDV +1.32 points	0.31%	1.63%
Old Republic InternationalORI	TMDV +1.32 points	0.06%	1.38%
SyscoSYY	TMDV +1.32 points	0.24%	1.56%
S&P GlobalSPGI	TMDV +1.32 points	0.26%	1.58%
Johnson & JohnsonJNJ	DGRO +1.28 points	2.78%	1.50%
Mccormick & Co Non-VotingMKC	TMDV +1.27 points	0.10%	1.37%
Genuine PartsGPC	TMDV +1.23 points	0.11%	1.34%
Air Products and ChemicalsAPD	TMDV +1.22 points	0.37%	1.59%
Colgate-PalmoliveCL	TMDV +1.21 points	0.40%	1.61%
Archer Daniels MidlandADM	TMDV +1.20 points	0.19%	1.39%
Illinois Tool IncITW	TMDV +1.16 points	0.41%	1.57%
Automatic Data Processing IncADP	TMDV +0.97 points	0.62%	1.59%
Lowes Companies IncLOW	TMDV +0.96 points	0.62%	1.58%
Medtronic PLCMDT	TMDV +0.77 points	0.82%	1.58%
Procter & GamblePG	DGRO +0.74 points	2.42%	1.68%
WalmartWMT	TMDV +0.66 points	1.08%	1.74%
Abbott LaboratoriesABT	TMDV +0.56 points	0.93%	1.49%
Mcdonalds CorpMCD	TMDV +0.37 points	1.15%	1.51%
Coca-ColaKO	DGRO +0.30 points	1.92%	1.62%
PepsicoPEP	DGRO +0.25 points	1.75%	1.50%

All 391 DGRO holdings⁠All 67 TMDV 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 TMDV Cost

Overpaying TMDV vs DGRO

$5,437

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

DGRO 0.08%
$1,689
TMDV 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

DGRO 0.08%
TMDV 0.35%
Overpaying

Year by year

Year	DGRO	TMDV	Overpaying
10	$147	$634	$487
20	$575	$2,454	$1,879
30	$1,689	$7,126	$5,437

Expense ratio

0.08%DGRO, cheaper
0.35%TMDV

DGRO0.08%TMDV0.35%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

DGRO 8th cheapest of 52 funds

TMDV 20th cheapest of 52 funds

DGRO vs TMDV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DGRO 1.84%; TMDV 2.46%, better
Payout (12M): DGRO $1.49; TMDV $1.31
Last payment: DGRO $0.39; TMDV $0.30
Ex-dividend: DGRO Sep 15, 2026; TMDV Sep 23, 2026
Paid on: DGRO Sep 18, 2026; TMDV Sep 29, 2026
Frequency: DGRO Quarterly; TMDV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DGROQuarterly · 39 paymentsAll DGRO payments⁠

TMDVQuarterly · 28 paymentsAll TMDV payments⁠

DGRO vs TMDV Risk

Fall from peak · 5 years

DGRO
TMDV

Risk facts

VolatilityStd dev, 3 years: DGRO 10.8%, betterTMDV 13.8%
Return per unit of riskSharpe ratio, 3 years: DGRO 1.47, betterTMDV 0.51
Worst fallMax drawdown, 5 years: DGRO −19.3%TMDV −17.1%, better
Market sensitivityBeta, 5 years: DGRO 0.67TMDV 0.57; Market = 1

DGRO and TMDV 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 TMDV

In short

Stated mandate

Why people hold it