DGRO vs GDV: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Gabelli Dividend & Income Trust (GDV) carry a correlation of 0.91, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and GDV?
Over the past 3 years, DGRO and GDV moved with a correlation of 0.91, which is very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.79 versus 0.91 over 3 years. Over 5 years the correlation is 0.93, and the annualized covariance of weekly returns is 155.5 %².
Within DGRO's tracked universe of 138 assets, GDV comes in at #7 by 3-year correlation. Neither side won the trailing year by much: +21.0% against +20.3%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DGRO vs GDV: side by side
| DGRO (iShares Core Dividend Growth ETF) | GDV (Gabelli Dividend & Income Trust) | |
|---|---|---|
| 1-year return | +21.0% | +20.3% |
| 5-year return | +67.9% | +53.8% |
| Volatility (ann.) | 11.4% | 15.0% |
| Beta vs S&P 500 | 0.65 | 0.90 |
| Max drawdown (3Y) | -14.0% | -16.1% |
| Market cap | – | $2.7B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 1.89% | 5.51% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | US Listed |
DGRO, iShares's Large Value fund, carries $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | DGRO | GDV |
|---|---|---|
| 2022 | -7.9% | -18.6% |
| 2023 | +10.5% | +11.9% |
| 2024 | +16.6% | +18.1% |
| 2025 | +15.7% | +22.8% |
| 2026 | +15.2% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and GDV good diversifiers for each other?
No: a correlation of 0.91 means DGRO and GDV tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DGRO and GDV?
The DGRO/GDV correlation stands at 0.91 on a 3-year window (1 year: 0.79, 5 years: 0.93), computed from weekly returns as of 2026-08-27.
Is GDV a good diversifier for DGRO?
No: a correlation of 0.91 means DGRO and GDV tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.91 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgro-vs-gdv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-gdv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · GDV correlations
