DGRO vs STEW: Correlation
iShares Core Dividend Growth ETF (DGRO) and SRH Total Return Fund, Inc. (STEW) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and STEW?
Over the past 3 years, DGRO and STEW moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.74 over 1 year against 0.82 over 3. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 132.1 %².
Within DGRO's tracked universe of 138 assets, STEW comes in at #22 by 3-year correlation. The last year tells two different stories: DGRO led by 15.8 percentage points, +21.0% for DGRO against +5.2% for STEW.
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 STEW: side by side
| DGRO (iShares Core Dividend Growth ETF) | STEW (SRH Total Return Fund, Inc.) | |
|---|---|---|
| 1-year return | +21.0% | +5.2% |
| 5-year return | +67.9% | +61.2% |
| Volatility (ann.) | 11.4% | 14.1% |
| Beta vs S&P 500 | 0.65 | 0.67 |
| Max drawdown (3Y) | -14.0% | -10.5% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | 1.89% | 3.91% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | US Listed |
On the fund side, DGRO sits in the Large Value category at iShares, with $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | DGRO | STEW |
|---|---|---|
| 2022 | -7.9% | -7.3% |
| 2023 | +10.5% | +13.5% |
| 2024 | +16.6% | +19.9% |
| 2025 | +15.7% | +20.3% |
| 2026 | +15.2% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and STEW good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DGRO and STEW?
As of 2026-08-27, the correlation of weekly returns between DGRO and STEW is 0.82 over 3 years, 0.74 over 1 year and 0.86 over 5 years.
Is STEW a good diversifier for DGRO?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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-stew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-stew/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGRO correlations · STEW correlations
