DGRO vs TROW: Correlation
iShares Core Dividend Growth ETF (DGRO) and T. Rowe Price (TROW) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and TROW?
Across a 3-year window, the weekly returns of DGRO and TROW correlate at 0.66, strong. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.66 over 3 years. Stretching to 5 years gives 0.71, with an annualized covariance of 178.3 %².
Among the 138 assets we track against DGRO, TROW ranks #45 by 3-year correlation. Over the last 12 months DGRO came out ahead by 12.9 percentage points (+21.0% against +8.1%). This link changes with the market regime, having swung between 0.26 and 0.82 on a rolling one-year basis. Note the risk asymmetry: TROW runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TROW: side by side
| DGRO (iShares Core Dividend Growth ETF) | TROW (T. Rowe Price) | |
|---|---|---|
| 1-year return | +21.0% | +8.1% |
| 5-year return | +67.9% | -37.0% |
| Volatility (ann.) | 11.4% | 23.5% |
| Beta vs S&P 500 | 0.65 | 1.10 |
| Max drawdown (3Y) | -14.0% | -34.0% |
| Market cap | – | $24.0B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 1.89% | 4.57% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Financials |
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 | TROW |
|---|---|---|
| 2022 | -7.9% | -42.2% |
| 2023 | +10.5% | +3.4% |
| 2024 | +16.6% | +9.7% |
| 2025 | +15.7% | -4.7% |
| 2026 | +15.2% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and TROW good diversifiers for each other?
Only partially. A correlation of 0.66 means DGRO and TROW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DGRO and TROW?
As of 2026-08-27, the correlation of weekly returns between DGRO and TROW is 0.66 over 3 years, 0.24 over 1 year and 0.71 over 5 years.
Is TROW a good diversifier for DGRO?
Only partially. A correlation of 0.66 means DGRO and TROW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 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-trow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgro-vs-trow/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · TROW correlations
