DGRO vs UDIV: Grades, Fees and Holdings Compared

iShares Core Dividend Growth ETF

DGROANYSE Arca

Franklin U.S. Core Dividend Tilt Index ETF

UDIVBNYSE Arca

Overlap

40.6%by weight

Expense ratio

UDIV −0.02pt a year

DGRO0.08%UDIV0.06%

Avg volume · 30D

DGRO 164.1×the volume

DGRO1.39MUDIV8.45K

10Y return · a year

DGRO +1.9pt

DGRO+14.1%UDIV+12.2%

DGRO vs UDIV Performance

Oct 29, 2021 – Oct 30, 2026

+71.0%DGRO+91.5%UDIV

Expense ratio: DGRO 0.08%; UDIV 0.06%, better
Fund size: DGRO $45.3B; UDIV $158M
1Y total return: DGRO +21.5%, better; UDIV +15.5%
Yield (12M): DGRO 1.84%, better; UDIV 1.43%
Holdings: DGRO 394; UDIV 293
Avg volume (30D): DGRO 1.39M sh, better; UDIV 8.45K sh
NAV per share: DGRO $81.00; UDIV $60.65
52W range

ETF.net Grade

Pillar letters and Scores for DGRO, UDIV, with each pillar’s weight
Pillar	DGRO	UDIV
Cost30% weight	A88	A95Higher
Mission25% weight	A98	A100Higher
Risk15% weight	A77Higher	C43
Tradability15% weight	A90Higher	D25
Holdings10% weight	B62Higher	C42
Durability5% weight	A87Higher	C54

Rank among US Dividend Index funds

How we build Categories ›

Same Category. DGRO and UDIV 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 UDIV 11th 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 11AHDViShares Core High Dividend ETFScore 70
Rank 11BUDIVFranklin U.S. Core Dividend Tilt Index ETFScore 70
Rank 13BDVYiShares Select Dividend ETFScore 69

Our read on each fund

ETF.net Research

DGROAiShares Core Dividend Growth ETF

UDIVBFranklin U.S. Core Dividend Tilt Index 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.

UDIV Most dividend funds throw out the market and keep the payers. UDIV keeps the market and leans it: an optimizer nudges a broad US index toward higher yield while staying tethered to it. Income tilt, index shape.

Stated mandate

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

UDIV The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the Morningstar US Dividend Enhanced Select Index.

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.

UDIV Six basis points, in a category where the typical fund charges 0.39%. That matches SCHD and undercuts DGRO, the shelf's best-known names.franklintempleton.com
Roughly 140 stocks selected by an optimizer built to maximize yield per unit of active risk against the broad market, not by simply ranking companies on payout.franklintempleton.com
Plain index plumbing: it follows the Morningstar US Dividend Enhanced Select Index with one of the tightest label-to-portfolio matches in its peer group. No side bets bolted on.
Running since 2016 and paying quarterly, which puts it among the stronger implementations in the US dividend-screen crowd.

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.

UDIV Thinly traded and modest in size, so bid-ask spreads can run wider than at the household-name dividend ETFs.
A tilt, not a yield hunt. The index limits how far it drifts from the broad market, which also limits how much extra income the tilt can add.franklintempleton.com
Fully invested in US stocks with no downside cushion. The dividend tilt shapes the payout, not the drawdown.

Full DGRO profile⁠

Full UDIV profile⁠

DGRO vs UDIV Holdings

How DGRO and UDIV differ

Overlap by weight

40.6%

Shared holdings make up 80.1% of DGRO and 49.7% of UDIV.

Level by level

Holdings125 in both40.6%
Sector11 Sectors60.2%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in DGRO and UDIV, widest gap first
Sector	More in DGROMore in UDIV	DGRO	UDIV
Technology	UDIV +24.1 points	17.8%	41.9%
Communication	UDIV +9.9 points	0.1%	10.0%
Health Care	DGRO +9.6 points	17.6%	8.0%
Financials	DGRO +8.3 points	19.4%	11.1%
Consumer Staples	DGRO +7.4 points	12.6%	5.2%
Industrials	DGRO +5.7 points	11.2%	5.5%
Utilities	DGRO +4.8 points	7.1%	2.3%
Real Estate	UDIV +3.3 points	0.0%	3.3%
Consumer Discretionary	UDIV +2.4 points	6.1%	8.5%
Energy	DGRO +2.3 points	5.8%	3.5%
Materials	DGRO +1.7 points	2.4%	0.7%

Country, concentration and asset class

Country by domicile

Country weights in DGRO and UDIV, widest gap first
Country	More in DGROMore in UDIV	DGRO	UDIV
United States	UDIV +0.1 points	99.2%	99.3%
Switzerland	DGRO +0.3 points	0.5%	0.1%
China	Same weight	0.2%	0.2%
Ireland	UDIV +0.1 points	0.0%	0.1%
United Kingdom	UDIV +0.1 points	0.0%	0.1%
Brazil	UDIV +0.1 points	0.0%	0.1%
Mexico	UDIV +0.1 points	0.0%	0.1%
India	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DGRO27.1%
UDIV36.3%

Securities held

DGRO391
UDIV290

Asset class

DGRO: Equity
UDIV: Equity

Holdings

Only in DGRO266
In both125
Only in UDIV165

Only in DGRO

266 securities, 19.6% of DGRO by weight

Accenture PLC Class A1.20%
Medtronic PLC0.82%
Linde PLC0.69%
Tjx0.49%
Colgate-Palmolive0.40%
General Dynamics Corp0.35%
Eaton PLC0.33%
Chubb0.33%
Northrop Grumman Corp0.33%
Waste Management Inc0.32%
Elevance Health Inc0.32%
Stryker0.27%
Becton Dickinson0.27%
Entergy Corp0.27%
Intercontinental Exchange Inc0.27%
Aflac0.25%
Danaher0.25%
Travelers Companies0.24%
Nxp Semiconductors NV0.24%
Csx0.24%
Kroger0.22%
Crh Public Limited PLC0.22%
Johnson Controls International PLC0.22%
Parker-Hannifin0.20%
Ameren0.19%
Diamondback Energy0.18%
Motorola Solutions Inc0.18%
Yum Brands0.18%
Ecolab0.17%
Thermo Fisher Scientific0.17%
Arthur J Gallagher0.16%
American Water Works0.16%
Sherwin Williams0.16%
Cms Energy0.16%
Aon PLC Class A0.15%
Atmos Energy0.15%
Centerpoint Energy0.14%
Hartford Insurance Group0.14%
Moodys Corp0.13%
Paccar Inc0.12%
Ross Stores Inc0.12%
Republic Services Inc0.12%
Hca Healthcare0.12%
Nucor0.12%
Ameriprise Finance Inc0.11%
Cheniere Energy0.11%
Cardinal Health0.11%
D R Horton0.10%
Fidelity National Financial Inc0.10%
Cencora0.10%

Only in UDIV

165 securities, 50.2% of UDIV by weight

NVIDIA Corp6.96%
Amazon.com Inc3.58%
Alphabet Inc-Cl A2.43%
Alphabet Inc-Cl C1.95%
Meta Platforms Inc-Class1.87%
Tesla Inc1.75%
Micron Technology Inc1.46%
Advanced Micro Devices1.28%
Chevron Corp1.12%
Pfizer Inc0.81%
Verizon Communications In0.74%
Texas Instruments Inc0.71%
Palantir Technologies Inc0.69%
Accenture Plc-Cl A0.66%
Progressive Corp0.63%
Altria Group Inc0.60%
Bristol-Myers Squibb Co0.59%
AT&T Inc0.55%
Prologis Inc0.52%
Medtronic PLC0.50%
Starbucks Corp0.45%
Palo Alto Networks Inc0.45%
Intel Corp0.43%
Blackstone Inc0.43%
Us Bancorp0.42%
Crowdstrike Holdings Inc0.41%
American Tower Corp0.41%
Comcast Corp-Class A0.38%
United Parcel Service-Cl0.38%
Netflix Inc0.33%
Cvs Health Corp0.33%
Simon Property Group Inc0.32%
Target Corp0.32%
Kinder Morgan Inc0.31%
Ge Vernova Inc0.31%
Kimberly-Clark Corp0.30%
General Electric0.30%
Nxp Semiconductors NV0.29%
Oneok Inc0.28%
Williams Cos Inc0.27%
Truist Financial Corp0.27%
Digital Realty Trust Inc0.26%
Dominion Energy Inc0.26%
Public Storage0.26%
Seagate Technology Holdin0.26%
Marvell Technology Inc0.25%
Eaton Corp PLC0.24%
Royal Caribbean Cruises L0.24%
Realty Income Corp0.24%
Salesforce Inc0.23%

Weight gaps

The 100 widest of 125 Holdings in both funds.

Holding weights in DGRO and UDIV, widest gap first
Holding	More in DGROMore in UDIV	DGRO	UDIV
AppleAAPL	UDIV +4.51 points	3.04%	7.55%
MicrosoftMSFT	UDIV +3.09 points	3.04%	6.13%
Exxonmobil Holdings CorpXOM	DGRO +2.19 points	3.33%	1.14%
AbbVieABBV	DGRO +1.96 points	3.05%	1.09%
Johnson & JohnsonJNJ	DGRO +1.95 points	2.78%	0.83%
Procter & GamblePG	DGRO +1.82 points	2.42%	0.60%
Philip Morris InternationalPM	DGRO +1.52 points	2.27%	0.75%
Coca-ColaKO	DGRO +1.37 points	1.92%	0.55%
UnitedHealth GroupUNH	DGRO +1.26 points	1.85%	0.59%
JPMorgan Chase & CoJPM	DGRO +1.22 points	2.66%	1.44%
Home DepotHD	DGRO +1.16 points	2.07%	0.91%
Merck & Co IncMRK	DGRO +1.11 points	1.81%	0.70%
PepsicoPEP	DGRO +1.07 points	1.75%	0.68%
International Business Machines CoIBM	DGRO +1.00 points	1.52%	0.52%
Mcdonalds CorpMCD	DGRO +0.92 points	1.15%	0.23%
Nextera EnergyNEE	DGRO +0.91 points	1.13%	0.22%
Wells FargoWFC	DGRO +0.82 points	1.22%	0.40%
WalmartWMT	DGRO +0.79 points	1.08%	0.29%
ConocophillipsCOP	DGRO +0.75 points	1.00%	0.25%
SouthernSO	DGRO +0.73 points	0.81%	0.08%
Amgen IncAMGN	DGRO +0.72 points	1.26%	0.54%
Cisco Systems IncCSCO	DGRO +0.71 points	1.38%	0.67%
Bank of AmericaBAC	DGRO +0.69 points	1.26%	0.57%
Abbott LaboratoriesABT	DGRO +0.63 points	0.93%	0.30%
Gilead SciencesGILD	DGRO +0.62 points	1.00%	0.38%
Mastercard Class AMA	DGRO +0.61 points	0.67%	0.06%
Duke Energy CorpDUK	DGRO +0.59 points	0.78%	0.19%
Lockheed MartinLMT	DGRO +0.58 points	0.71%	0.13%
Visa Class AV	DGRO +0.56 points	1.09%	0.53%
RtxRTX	DGRO +0.55 points	0.85%	0.30%
Union PacificUNP	DGRO +0.53 points	0.77%	0.24%
Goldman Sachs GroupGS	DGRO +0.49 points	0.98%	0.49%
CitigroupC	DGRO +0.45 points	0.87%	0.42%
Lowes Companies IncLOW	DGRO +0.44 points	0.62%	0.18%
QualcommQCOM	DGRO +0.44 points	0.83%	0.39%
Morgan StanleyMS	DGRO +0.39 points	1.00%	0.61%
MarshMRSH	DGRO +0.39 points	0.44%	0.05%
American ExpressAXP	DGRO +0.39 points	0.43%	0.04%
Phillips 66PSX	DGRO +0.33 points	0.49%	0.16%
DeereDE	DGRO +0.30 points	0.34%	0.04%
Mondelez International Class AMDLZ	DGRO +0.31 points	0.59%	0.28%
Costco Wholesale CorpCOST	DGRO +0.30 points	0.63%	0.33%
Xcel Energy IncXEL	DGRO +0.28 points	0.34%	0.06%
Lam ResearchLRCX	UDIV +0.28 points	0.22%	0.50%
CignaCI	DGRO +0.27 points	0.36%	0.09%
American Electric Power IncAEP	DGRO +0.26 points	0.47%	0.21%
Consolidated EdisonED	DGRO +0.26 points	0.31%	0.05%
OracleORCL	DGRO +0.24 points	0.61%	0.37%
Pnc Financial Services GroupPNC	DGRO +0.23 points	0.64%	0.41%
SempraSRE	DGRO +0.22 points	0.38%	0.16%
S&P GlobalSPGI	DGRO +0.21 points	0.26%	0.05%
Caterpillar IncCAT	DGRO +0.19 points	0.50%	0.31%
Eog ResourcesEOG	DGRO +0.19 points	0.53%	0.34%
Bank of New York Mellon CorpBNY	DGRO +0.18 points	0.33%	0.15%
Applied Material IncAMAT	UDIV +0.18 points	0.31%	0.49%
CintasCTAS	DGRO +0.16 points	0.17%	<0.01%
Otis WorldwideOTIS	DGRO +0.15 points	0.16%	0.01%
Allstate CorpALL	DGRO +0.15 points	0.24%	0.09%
Broadcom IncAVGO	UDIV +0.14 points	2.40%	2.54%
Fedex CorpFDX	DGRO +0.14 points	0.23%	0.09%
Honeywell International IncHON	UDIV +0.13 points	0.20%	0.33%
Wec Energy GroupWEC	DGRO +0.13 points	0.29%	0.16%
L3HARRIS TechnologiesLHX	DGRO +0.13 points	0.22%	0.09%
NisourceNI	DGRO +0.12 points	0.13%	<0.01%
Public Service Enterprise GroupPEG	DGRO +0.12 points	0.29%	0.17%
Monolithic Power Systems IncMPWR	UDIV +0.12 points	0.08%	0.20%
Dte EnergyDTE	DGRO +0.12 points	0.21%	0.09%
IntuitINTU	DGRO +0.12 points	0.29%	0.17%
Automatic Data Processing IncADP	DGRO +0.12 points	0.62%	0.50%
Eli LillyLLY	UDIV +0.11 points	1.48%	1.59%
EbayEBAY	DGRO +0.11 points	0.14%	0.03%
KlaKLAC	UDIV +0.11 points	0.22%	0.33%
Air Products and ChemicalsAPD	DGRO +0.11 points	0.37%	0.26%
Ferguson EnterprisesFERG	DGRO +0.10 points	0.15%	0.05%
BlackRockBLK	DGRO +0.10 points	0.71%	0.61%
Keurig Dr Pepper IncKDP	DGRO +0.10 points	0.30%	0.20%
Ares Management Class AARES	DGRO +0.09 points	0.22%	0.13%
Trane Technologies PLCTT	DGRO +0.09 points	0.18%	0.09%
Fifth Third BancorpFITB	DGRO +0.09 points	0.31%	0.22%
Amphenol Corp Class AAPH	UDIV +0.08 points	0.26%	0.34%
Zoetis Inc Class AZTS	DGRO +0.07 points	0.20%	0.13%
Cme Group Class ACME	UDIV +0.07 points	0.44%	0.51%
Cummins IncCMI	DGRO +0.07 points	0.23%	0.16%
MsciMSCI	UDIV +0.07 points	0.14%	0.21%
SyscoSYY	DGRO +0.07 points	0.24%	0.17%
Synchrony FinancialSYF	DGRO +0.06 points	0.09%	0.03%
Emerson ElectricEMR	DGRO +0.06 points	0.29%	0.23%
EvergyEVRG	DGRO +0.06 points	0.15%	0.09%
Tyson Foods Inc Class ATSN	DGRO +0.06 points	0.14%	0.08%
Carrier GlobalCARR	DGRO +0.05 points	0.14%	0.09%
Constellation Brands Class ASTZ	DGRO +0.05 points	0.14%	0.09%
Xylem IncXYL	DGRO +0.05 points	0.08%	0.03%
Darden Restaurants IncDRI	DGRO +0.04 points	0.16%	0.12%
MetlifeMET	DGRO +0.05 points	0.28%	0.23%
Netapp IncNTAP	UDIV +0.05 points	0.09%	0.14%
Nrg Energy IncNRG	DGRO +0.05 points	0.07%	0.02%
Alliant Energy CorpLNT	DGRO +0.05 points	0.13%	0.08%
HumanaHUM	DGRO +0.05 points	0.10%	0.05%
Principal Financial Group IncPFG	DGRO +0.04 points	0.15%	0.11%
Archer Daniels MidlandADM	DGRO +0.04 points	0.19%	0.15%

All 391 DGRO holdings⁠All UDIV 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 UDIV Cost

Overpaying DGRO vs UDIV

$419

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

DGRO 0.08%
$1,689
UDIV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

DGRO 0.08%
UDIV 0.06%
Overpaying

Year by year

Year	DGRO	UDIV	Overpaying
10	$147	$110	$37
20	$575	$432	$143
30	$1,689	$1,270	$419

Expense ratio

0.08%DGRO
0.06%UDIV, cheaper

UDIV0.06%DGRO0.08%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

UDIV 4th cheapest of 52 funds

DGRO 8th cheapest of 52 funds

DGRO vs UDIV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DGRO 1.84%, better; UDIV 1.43%
Payout (12M): DGRO $1.49; UDIV $0.87
Last payment: DGRO $0.39; UDIV $0.18
Ex-dividend: DGRO Sep 15, 2026; UDIV Sep 18, 2026
Paid on: DGRO Sep 18, 2026; UDIV Sep 25, 2026
Frequency: DGRO Quarterly; UDIV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DGROQuarterly · 39 paymentsAll DGRO payments⁠

UDIVQuarterly · 38 paymentsAll UDIV payments⁠

DGRO vs UDIV Risk

Fall from peak · 5 years

DGRO
UDIV

Risk facts

VolatilityStd dev, 3 years: DGRO 10.8%, betterUDIV 12.7%
Return per unit of riskSharpe ratio, 3 years: DGRO 1.47UDIV 1.56, better
Worst fallMax drawdown, 5 years: DGRO −19.3%, betterUDIV −23.2%
Market sensitivityBeta, 5 years: DGRO 0.67UDIV 1.02; Market = 1

DGRO and UDIV 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 UDIV

In short

Stated mandate

Why people hold it