DGRO vs VEA: Correlation & Overlap
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Vanguard FTSE Developed Markets ETF (VEA) carry a correlation of 0.75, a strong link. Looking through to holdings, 0.9% of the two portfolios is the same by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and VEA?
Across a 3-year window, the weekly returns of DGRO and VEA correlate at 0.75, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 129.2 %².
Among the 138 assets we track against DGRO, VEA ranks #26 by 3-year correlation. Over the last 12 months VEA came out ahead by 7.5 percentage points (+21.0% against +28.5%). Stability stands out here, with the rolling one-year correlation confined to 0.66 through 0.89.
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 VEA: side by side
| DGRO (iShares Core Dividend Growth ETF) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +21.0% | +28.5% |
| 5-year return | +67.9% | +63.5% |
| Volatility (ann.) | 11.4% | 15.1% |
| Beta vs S&P 500 | 0.65 | 0.79 |
| Max drawdown (3Y) | -14.0% | -13.5% |
| Dividend yield | 1.89% | 2.56% |
| Expense ratio | 0.08% | 0.03% |
| Assets under management | $42.8B | $314.9B |
| Sector / category | ETF · Dividend | ETF · International |
DGRO, iShares's Large Value fund, carries $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield. VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Portfolio overlap between DGRO and VEA
The two portfolios are largely distinct, with 34 holdings in common adding up to 0.9% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in DGRO | Weight in VEA |
|---|---|---|
| DTE | 0.19% | 0.33% |
| TSCO | 0.11% | 0.13% |
| ROP | 0.10% | 0.97% |
| ALL | 0.29% | 0.08% |
| MRK | 2.20% | 0.07% |
| CFR | 0.06% | 0.40% |
| BG | 0.07% | 0.05% |
| ADM | 0.20% | 0.04% |
| CSL | 0.04% | 0.13% |
| TEL | 0.19% | 0.03% |
| ORI | 0.07% | 0.02% |
| G | 0.02% | 0.15% |
| UCB | 0.02% | 0.10% |
| AMP | 0.16% | 0.02% |
| ADP | 0.71% | 0.02% |
Largest positions held only by DGRO: MSFT (3.39%), JNJ (3.16%), JPM (3.14%), ABBV (3.03%), XOM (2.86%). Only by VEA: 005930 (2.53%), ASML (2.00%), 000660 (1.98%), HSBA (1.15%), SAN (0.94%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | DGRO | VEA |
|---|---|---|
| 2022 | -7.9% | -15.3% |
| 2023 | +10.5% | +17.9% |
| 2024 | +16.6% | +3.1% |
| 2025 | +15.7% | +35.2% |
| 2026 | +15.2% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and VEA good diversifiers for each other?
Only partially. A correlation of 0.75 means DGRO and VEA 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 VEA?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.67 over the last year and 0.78 over 5 years.
Is VEA a good diversifier for DGRO?
Only partially. A correlation of 0.75 means DGRO and VEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
How much do DGRO and VEA overlap?
0.9% by weight, across 34 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgro-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgro-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · VEA correlations
