DGRO vs VOO: Grades, Fees and Holdings Compared

iShares Core Dividend Growth ETF

DGROANYSE Arca

Vanguard S&P 500 ETF

VOOANYSE Arca

Overlap

41.4%by weight

Expense ratio

VOO −0.05pt a year

DGRO0.08%VOO0.03%

Avg volume · 30D

VOO 5.2×the volume

DGRO1.39MVOO7.22M

10Y return · a year

VOO +1.7pt

DGRO+14.0%VOO+15.7%

DGRO vs VOO Performance

Oct 28, 2021 – Oct 28, 2026

+69.1%DGRO+80.7%VOO

Expense ratio: DGRO 0.08%; VOO 0.03%, better
Fund size: DGRO $44.7B; VOO $1.7T
1Y total return: DGRO +18.8%, better; VOO +13.7%
Yield (12M): DGRO 1.86%, better; VOO 1.05%
Holdings: DGRO 394; VOO 507
Avg volume (30D): DGRO 1.39M sh; VOO 7.22M sh, better
NAV per share: DGRO $79.98; VOO $707.53
52W range

ETF.net Grade

Pillar letters and Scores for DGRO, VOO, with each pillar’s weight
Pillar	DGRO	VOO
Cost30% weight	A88	A84
Mission25% weight	A91	A100
Risk15% weight	A74	C51
Tradability15% weight	A90	C53
Holdings10% weight	B63	C41
Durability5% weight	A87	A93

Where each fund ranks

How we build Categories ›

Different Categories. Their Grades do not compare head to head.

US Dividend Index⁠

Category · 52 funds

See all 52 ›

DGRO ranks 1st of 52 funds in the US Dividend Index Category.

Rank 1ADGROiShares Core Dividend Growth ETFScore 84
Rank 2ADIVBiShares Core Dividend ETFScore 80

S&P 500⁠

Category · 14 funds

See all 14 ›

VOO ranks 3rd of 14 funds in the S&P 500 Category.

Rank 1ASPYMState Street SPDR Portfolio S&P 500 ETFScore 82
Rank 2AIVViShares Core S&P 500 ETFScore 79
Rank 3AVOOVanguard S&P 500 ETFScore 74
Rank 4AUSPXFranklin U.S. Equity Index ETFScore 71

Our read on each fund

ETF.net Research

DGROAiShares Core Dividend Growth ETF

VOOAVanguard S&P 500 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.

VOO Not a standalone ETF but a share class of Vanguard's flagship 500 Index Fund: the same roughly 500 large US companies, 0.03% a year, in a wrapper you can trade all day.

Stated mandate

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

VOO The fund invests in stocks represented by the S&P 500 Index and seeks to closely track that index's return as a measure of overall U.S. stock performance.

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.

VOO 0.03% a year against a 0.15% median for S&P 500 trackers. On a fund this size, that fee gap is the whole product.
Holds the index outright, all roughly 500 names, and its tracking record sits among the tightest in the S&P 500 group.vanguard.com
One of the most actively traded ETFs in the market, which tends to keep the cost of getting in and out small.
It is the ETF share class of Vanguard's 500 Index Fund, and Vanguard is owned by its own funds, so no outside parent takes a cut.vanguard.com sec.gov

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.

VOO Large US companies only, weighted by size, so the biggest few names carry the most weight and drive much of the move.spglobal.com
Membership is not purely mechanical: an S&P index committee decides which companies come in and go out.spglobal.com
SPYM tracks the same index for 0.02%. A rounding error for most, but real if cost is your only tiebreaker.

Full DGRO profile⁠

Full VOO profile⁠

DGRO vs VOO Holdings

Holdings as of Oct 28, 2026 for DGRO and Oct 27, 2026 for VOO

How DGRO and VOO differ

Overlap by weight

41.4%

Shared holdings make up 94.9% of DGRO and 50.1% of VOO.

Level by level

Holdings228 in both41.4%
Sector11 Sectors62.8%
Countryby domicile95.1%
Asset classEquity100%

Sector

Sector weights in DGRO and VOO, widest gap first
Sector	More in DGROMore in VOO	DGRO	VOO
Technology	VOO +23.0 points	17.5%	40.5%
Communication	VOO +9.9 points	0.1%	9.9%
Consumer Staples	DGRO +8.5 points	12.8%	4.3%
Health Care	DGRO +8.3 points	17.6%	9.3%
Financials	DGRO +8.2 points	19.3%	11.1%
Utilities	DGRO +5.2 points	7.1%	1.9%
Industrials	DGRO +3.6 points	11.2%	7.5%
Consumer Discretionary	VOO +2.8 points	6.0%	8.8%
Energy	DGRO +2.5 points	5.9%	3.4%
Real Estate	VOO +1.7 points	0.0%	1.7%
Materials	DGRO +0.8 points	2.4%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in DGRO and VOO, widest gap first
Country	More in DGROMore in VOO	DGRO	VOO
United States	VOO +4.9 points	95.1%	100.0%
Ireland	DGRO +3.2 points	3.2%	0.0%
United Kingdom	DGRO +0.8 points	0.8%	0.0%
Other countries (4)	DGRO +0.9 points	0.9%	0.0%

Concentration

Weight in the 10 largest Holdings

DGRO27.2%
VOO39.1%

Securities held

DGRO391
VOO506

Asset class

DGRO: Equity
VOO: Equity

Holdings

Only in DGRO163
In both228
Only in VOO278

Only in DGRO

163 securities, 4.8% of DGRO by weight

Cheniere Energy0.10%
East West Bancorp0.10%
Essential Utilities Inc0.09%
Vylor0.09%
Fidelity National Financial Inc0.08%
Ovintiv0.08%
Oge Energy0.08%
Dt Midstream0.08%
Royalty Pharma PLC Class A0.08%
Equitable Holdings0.07%
Dicks Sporting0.07%
Booz Allen Hamilton Holding Class0.07%
Reliance Steel & Aluminum0.06%
Unum0.06%
American Financial Group0.06%
Old Republic International0.06%
Reinsurance Group of America0.06%
Rpm International Inc0.06%
Prosperity Bancshares0.06%
Zions Bancorporation0.05%
Cullen Frost Bankers0.05%
Southstate Bank Corp0.05%
Black Hills Corp0.05%
Ss and C Technologies Holdings0.05%
Lamb Weston Holdings0.05%
National Fuel Gas0.05%
Service0.05%
Owens Corning0.05%
H&R Block Inc0.05%
Carlisle Companies0.04%
Jefferies Financial Group Inc0.04%
Spire Inc0.04%
Idacorp0.04%
Nexstar Media Group Inc0.04%
First American Financial Corp0.04%
Northwestern Energy Group0.04%
New Jersey Resources Corp0.04%
Lincoln Electric Holdings0.04%
Popular0.04%
Ingredion Inc0.04%
Bank Ozk0.04%
Pool0.04%
Texas Roadhouse Inc0.04%
Home Bancshares Inc0.04%
Ryder System0.04%
Toro0.04%
Graco0.04%
Matador Resources0.04%
Stifel Financial0.04%
Txnm Energy Inc0.04%

Only in VOO

278 securities, 50.0% of VOO by weight

NVIDIA Corp8.40%
Amazon.com Inc3.72%
Alphabet Inc3.07%
Alphabet Inc2.46%
Meta Platforms Inc2.43%
Micron Technology Inc1.83%
Tesla Inc1.52%
Advanced Micro Devices Inc1.52%
Berkshire Hathaway Inc1.41%
Intel Corp0.91%
Palantir Technologies Inc0.65%
Chevron Corp0.61%
General Electric Co0.49%
Palo Alto Networks Inc0.49%
Netflix Inc0.44%
Crowdstrike Holdings Inc0.41%
Texas Instruments Inc0.39%
Sandisk Corp0.39%
GE Vernova Inc0.38%
Marvell Technology Inc0.35%
Arista Networks Inc0.32%
Seagate Technology Holdings PLC0.32%
Verizon Communications Inc0.29%
Salesforce Inc0.29%
Walt Disney Co/The0.28%
AT&T Inc0.25%
Welltower Inc0.25%
Western Digital Corp0.25%
Dell Technologies Inc0.25%
Pfizer Inc0.25%
Charles Schwab Corp/The0.24%
Boeing Co/The0.22%
Intuitive Surgical Inc0.22%
Uber Technologies Inc0.21%
ServiceNow Inc0.21%
Vertex Pharmaceuticals Inc0.20%
Bristol-Myers Squibb Co0.19%
Prologis Inc0.19%
Booking Holdings Inc0.19%
Corning Inc0.19%
Newmont Corp0.18%
Progressive Corp/The0.18%
Capital One Financial Corp0.18%
Altria Group Inc0.17%
Valero Energy Corp0.17%
Marathon Petroleum Corp0.17%
Fortinet Inc0.17%
CVS Health Corp0.17%
Starbucks Corp0.16%
Freeport-McMoRan Inc0.15%

Weight gaps

The 100 widest of 228 Holdings in both funds.

Holding weights in DGRO and VOO, widest gap first
Holding	More in DGROMore in VOO	DGRO	VOO
AppleAAPL	VOO +4.28 points	3.11%	7.39%
MicrosoftMSFT	VOO +2.65 points	3.14%	5.79%
AbbVieABBV	DGRO +2.30 points	3.00%	0.70%
Exxonmobil Holdings CorpXOM	DGRO +2.22 points	3.24%	1.02%
Procter & GamblePG	DGRO +1.91 points	2.42%	0.51%
Johnson & JohnsonJNJ	DGRO +1.80 points	2.77%	0.97%
Philip Morris InternationalPM	DGRO +1.78 points	2.23%	0.45%
Home DepotHD	DGRO +1.60 points	2.03%	0.43%
PepsicoPEP	DGRO +1.46 points	1.72%	0.26%
UnitedHealth GroupUNH	DGRO +1.39 points	1.89%	0.50%
Coca-ColaKO	DGRO +1.38 points	1.89%	0.51%
JPMorgan Chase & CoJPM	DGRO +1.34 points	2.68%	1.34%
Merck & Co IncMRK	DGRO +1.20 points	1.74%	0.54%
International Business Machines CoIBM	DGRO +1.18 points	1.49%	0.31%
Accenture PLC Class AACN	DGRO +0.93 points	1.10%	0.17%
Nextera EnergyNEE	DGRO +0.89 points	1.13%	0.24%
Amgen IncAMGN	DGRO +0.88 points	1.23%	0.35%
Mcdonalds CorpMCD	DGRO +0.88 points	1.13%	0.25%
Wells FargoWFC	DGRO +0.85 points	1.22%	0.37%
Cisco Systems IncCSCO	DGRO +0.85 points	1.49%	0.64%
Bank of AmericaBAC	DGRO +0.75 points	1.29%	0.54%
ConocophillipsCOP	DGRO +0.75 points	0.98%	0.23%
Morgan StanleyMS	DGRO +0.69 points	1.03%	0.34%
SouthernSO	DGRO +0.67 points	0.81%	0.14%
Gilead SciencesGILD	DGRO +0.66 points	0.94%	0.28%
Abbott LaboratoriesABT	DGRO +0.65 points	0.91%	0.26%
Medtronic PLCMDT	DGRO +0.64 points	0.81%	0.17%
Goldman Sachs GroupGS	DGRO +0.64 points	1.01%	0.37%
QualcommQCOM	DGRO +0.64 points	0.94%	0.30%
Duke Energy CorpDUK	DGRO +0.63 points	0.77%	0.14%
CitigroupC	DGRO +0.56 points	0.88%	0.32%
Lockheed MartinLMT	DGRO +0.54 points	0.70%	0.16%
Union PacificUNP	DGRO +0.52 points	0.77%	0.25%
Pnc Financial Services GroupPNC	DGRO +0.52 points	0.65%	0.13%
BlackRockBLK	DGRO +0.48 points	0.71%	0.23%
Automatic Data Processing IncADP	DGRO +0.47 points	0.63%	0.16%
Mondelez International Class AMDLZ	DGRO +0.46 points	0.57%	0.11%
RtxRTX	DGRO +0.46 points	0.84%	0.38%
Lowes Companies IncLOW	DGRO +0.44 points	0.60%	0.16%
Eog ResourcesEOG	DGRO +0.41 points	0.52%	0.11%
Lam ResearchLRCX	VOO +0.40 points	0.22%	0.62%
American Electric Power IncAEP	DGRO +0.38 points	0.48%	0.10%
WalmartWMT	DGRO +0.36 points	1.06%	0.70%
Linde PLCLIN	DGRO +0.36 points	0.69%	0.33%
Phillips 66PSX	DGRO +0.32 points	0.47%	0.15%
Illinois Tool IncITW	DGRO +0.31 points	0.41%	0.10%
SempraSRE	DGRO +0.30 points	0.38%	0.08%
MarshMRSH	DGRO +0.31 points	0.43%	0.12%
Applied Material IncAMAT	VOO +0.30 points	0.32%	0.62%
Cme Group Class ACME	DGRO +0.29 points	0.43%	0.14%
Colgate-PalmoliveCL	DGRO +0.29 points	0.39%	0.10%
TjxTJX	DGRO +0.27 points	0.49%	0.22%
Xcel Energy IncXEL	DGRO +0.27 points	0.34%	0.07%
Air Products and ChemicalsAPD	DGRO +0.27 points	0.36%	0.09%
Analog DevicesADI	DGRO +0.26 points	0.55%	0.29%
CignaCI	DGRO +0.26 points	0.37%	0.11%
OracleORCL	DGRO +0.26 points	0.62%	0.36%
Consolidated EdisonED	DGRO +0.25 points	0.31%	0.06%
Fifth Third BancorpFITB	DGRO +0.24 points	0.31%	0.07%
Public Service Enterprise GroupPEG	DGRO +0.24 points	0.29%	0.05%
Wec Energy GroupWEC	DGRO +0.24 points	0.29%	0.05%
Northrop Grumman CorpNOC	DGRO +0.23 points	0.33%	0.10%
Keurig Dr Pepper IncKDP	DGRO +0.23 points	0.29%	0.06%
Waste Management IncWM	DGRO +0.21 points	0.33%	0.12%
General Dynamics CorpGD	DGRO +0.21 points	0.34%	0.13%
MetlifeMET	DGRO +0.20 points	0.28%	0.08%
Thermo Fisher ScientificTMO	VOO +0.21 points	0.17%	0.38%
Elevance Health IncELV	DGRO +0.21 points	0.33%	0.12%
Entergy CorpETR	DGRO +0.20 points	0.27%	0.07%
Becton DickinsonBDX	DGRO +0.20 points	0.27%	0.07%
Bank of New York Mellon CorpBNY	DGRO +0.19 points	0.34%	0.15%
American ExpressAXP	DGRO +0.18 points	0.42%	0.24%
SyscoSYY	DGRO +0.18 points	0.24%	0.06%
Ares Management Class AARES	DGRO +0.18 points	0.22%	0.04%
FastenalFAST	DGRO +0.17 points	0.26%	0.09%
AflacAFL	DGRO +0.17 points	0.25%	0.08%
KrogerKR	DGRO +0.17 points	0.22%	0.05%
Microchip Technology IncMCHP	DGRO +0.17 points	0.23%	0.06%
KlaKLAC	VOO +0.17 points	0.22%	0.39%
Dte EnergyDTE	DGRO +0.17 points	0.21%	0.04%
IntuitINTU	DGRO +0.17 points	0.28%	0.11%
Emerson ElectricEMR	DGRO +0.17 points	0.30%	0.13%
Visa Class AV	DGRO +0.17 points	1.08%	0.91%
ChubbCB	DGRO +0.16 points	0.33%	0.17%
Zoetis Inc Class AZTS	DGRO +0.16 points	0.20%	0.04%
Nxp Semiconductors NVNXPI	DGRO +0.15 points	0.24%	0.09%
Allstate CorpALL	DGRO +0.14 points	0.23%	0.09%
AmerenAEE	DGRO +0.15 points	0.19%	0.04%
Cummins IncCMI	DGRO +0.14 points	0.25%	0.11%
L3HARRIS TechnologiesLHX	DGRO +0.14 points	0.21%	0.07%
Archer Daniels MidlandADM	DGRO +0.13 points	0.19%	0.06%
StrykerSYK	DGRO +0.13 points	0.28%	0.15%
Quanta Services IncPWR	VOO +0.14 points	0.01%	0.15%
Travelers CompaniesTRV	DGRO +0.14 points	0.25%	0.11%
Fedex CorpFDX	DGRO +0.13 points	0.23%	0.10%
M&T BankMTB	DGRO +0.13 points	0.18%	0.05%
Darden Restaurants IncDRI	DGRO +0.13 points	0.16%	0.03%
Cms EnergyCMS	DGRO +0.13 points	0.16%	0.03%
Crh Public Limited PLCCRH	DGRO +0.13 points	0.21%	0.08%
Diamondback EnergyFANG	DGRO +0.12 points	0.18%	0.06%

All 391 DGRO holdings⁠All 505 VOO 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 VOO Cost

Overpaying DGRO vs VOO

$1,051

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

DGRO 0.08%
$1,689
VOO 0.03%
$638

Amount$10,000

Years30 years

Cost over time

DGRO 0.08%
VOO 0.03%
Overpaying

Year by year

Year	DGRO	VOO	Overpaying
10	$147	$55	$92
20	$575	$216	$359
30	$1,689	$638	$1,051

Expense ratio

0.08%DGRO
0.03%VOO, cheaper

Different Categories, so each fee sits in its own Category’s range.

DGRO among 52 US Dividend Index funds

DGRO0.08%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

DGRO 8th cheapest of 52 funds

VOO among 14 S&P 500 funds

VOO0.03%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

VOO 2nd cheapest of 14 funds

DGRO vs VOO Dividends

Last 12 months to Oct 28, 2026

Yield (12M): DGRO 1.86%, better; VOO 1.05%
Payout (12M): DGRO $1.49; VOO $7.43
Last payment: DGRO $0.39; VOO $1.82
Ex-dividend: DGRO Sep 15, 2026; VOO Sep 28, 2026
Paid on: DGRO Sep 18, 2026; VOO Sep 30, 2026
Frequency: DGRO Quarterly; VOO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DGROQuarterly · 39 paymentsAll DGRO payments⁠

VOOQuarterly · 39 paymentsAll VOO payments⁠

DGRO vs VOO Risk

Fall from peak · 5 years

DGRO
VOO

Risk facts

VolatilityStd dev, 3 years: DGRO 10.5%, betterVOO 12.4%
Return per unit of riskSharpe ratio, 3 years: DGRO 1.18VOO 1.37, better
Worst fallMax drawdown, 5 years: DGRO −19.3%, betterVOO −24.5%
Market sensitivityBeta, 5 years: DGRO 0.67VOO 1.01; Market = 1

DGRO and VOO in the news

All news⁠

Head-to-Head
Take VTI over VOO unless you already own the rest of the market
Oct 23, 2026VOO
Head-to-Head
VOO has kept about a tenth of a percentage point a year more of the S&P 500 than SPY
Oct 23, 2026VOO
Head-to-Head
VOO vs. VOOG: the S&P 500 fund is the better default
Oct 23, 2026VOO
Head-to-Head
VOO is the better core fund. QQQ only wins as a Nasdaq-100 bet
Oct 23, 2026VOO
Head-to-Head
VOO and IVV own the same S&P 500 stocks at the same fee
Oct 23, 2026VOO
New ETFs
GMO's ETF share class costs more than the fund's $35 million Class III shares
Oct 22, 2026VOO

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