DGRO vs V: Correlation
iShares Core Dividend Growth ETF (DGRO) and Visa Inc. (V) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and V?
Across a 3-year window, the weekly returns of DGRO and V correlate at 0.59, moderate. The past 12 months show a weaker link (0.47) than the 3-year average (0.59). Stretching to 5 years gives 0.64, with an annualized covariance of 128.9 %².
Within DGRO's tracked universe of 138 assets, V comes in at #73 by 3-year correlation. Over the last 12 months DGRO came out ahead by 11.8 percentage points (+21.0% against +9.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.28 to 0.79. One caveat on sizing: V is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 V: side by side
| DGRO (iShares Core Dividend Growth ETF) | V (Visa Inc.) | |
|---|---|---|
| 1-year return | +21.0% | +9.2% |
| 5-year return | +67.9% | +70.5% |
| Volatility (ann.) | 11.4% | 19.1% |
| Beta vs S&P 500 | 0.65 | 0.72 |
| Max drawdown (3Y) | -14.0% | -20.4% |
| Market cap | – | $708.8B |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 1.89% | 0.70% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Financials |
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 | V |
|---|---|---|
| 2022 | -7.9% | -3.4% |
| 2023 | +10.5% | +26.3% |
| 2024 | +16.6% | +22.3% |
| 2025 | +15.7% | +11.8% |
| 2026 | +15.2% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
V represents 1.13% of DGRO's portfolio, so part of any move in DGRO is V itself, and the correlation between them is partly mechanical.
Are DGRO and V good diversifiers for each other?
Only partially. A correlation of 0.59 means DGRO and V 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 V?
The DGRO/V correlation stands at 0.59 on a 3-year window (1 year: 0.47, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is V a good diversifier for DGRO?
Only partially. A correlation of 0.59 means DGRO and V share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: DGRO correlations · V correlations
