DGRO vs VTV: Correlation & Overlap
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Vanguard Value ETF (VTV) carry a correlation of 0.97, a very strong link. Looking through to holdings, 56.3% 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 VTV?
Over the past 3 years, DGRO and VTV moved with a correlation of 0.97, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.93 lands near the 3-year figure. Over 5 years the correlation is 0.97, and the annualized covariance of weekly returns is 132.5 %².
VTV is one of the assets that tracks DGRO most closely: it ranks #3 out of the 138 assets we track against DGRO. Neither side won the trailing year by much: +21.0% against +25.7%. The rolling one-year correlation stayed in a tight band between 0.93 and 0.99 over the past three years, which points to a structural rather than episodic relationship.
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 VTV: side by side
| DGRO (iShares Core Dividend Growth ETF) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +21.0% | +25.7% |
| 5-year return | +67.9% | +79.1% |
| Volatility (ann.) | 11.4% | 11.9% |
| Beta vs S&P 500 | 0.65 | 0.65 |
| Max drawdown (3Y) | -14.0% | -14.5% |
| Dividend yield | 1.89% | 1.86% |
| Expense ratio | 0.08% | 0.03% |
| Assets under management | $42.8B | $256.4B |
| Sector / category | ETF · Dividend | ETF · US Style |
DGRO, iShares's Large Value fund, carries $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield. On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Portfolio overlap between DGRO and VTV
The two portfolios overlap heavily, with 165 holdings in common adding up to 56.3% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in DGRO | Weight in VTV |
|---|---|---|
| JPM | 3.14% | 3.51% |
| XOM | 2.86% | 2.40% |
| JNJ | 3.16% | 2.30% |
| ABBV | 3.03% | 1.65% |
| BAC | 1.80% | 1.47% |
| UNH | 1.67% | 1.40% |
| CSCO | 1.27% | 1.53% |
| PG | 2.13% | 1.25% |
| HD | 2.11% | 1.23% |
| MRK | 2.20% | 1.20% |
| KO | 1.98% | 1.12% |
| PM | 2.12% | 1.11% |
| GS | 1.11% | 1.06% |
| WFC | 1.22% | 0.99% |
| RTX | 0.98% | 1.08% |
Largest positions held only by DGRO: MSFT (3.39%), AAPL (2.85%), AVGO (2.28%), LLY (1.21%), V (1.13%). Only by VTV: MU (3.46%), BRK.B (2.99%), CVX (1.39%), GE (0.70%), INTC (0.68%).
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 | VTV |
|---|---|---|
| 2022 | -7.9% | -2.1% |
| 2023 | +10.5% | +9.3% |
| 2024 | +16.6% | +16.0% |
| 2025 | +15.7% | +15.3% |
| 2026 | +15.2% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and VTV good diversifiers for each other?
Not really. At 0.97, the two trade almost as one position, and owning both buys little extra protection. They also hold much of the same portfolio (56.3% overlap), so the exposure is doubly redundant.
FAQ
What is the correlation between DGRO and VTV?
The DGRO/VTV correlation stands at 0.97 on a 3-year window (1 year: 0.93, 5 years: 0.97), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for DGRO?
Not really. At 0.97, the two trade almost as one position, and owning both buys little extra protection. They also hold much of the same portfolio (56.3% overlap), so the exposure is doubly redundant.
How much do DGRO and VTV overlap?
56.3% by weight, across 165 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
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Related comparisons
Hubs: DGRO correlations · VTV correlations
