DGRO vs VUG: Correlation & Overlap
How closely do iShares Core Dividend Growth ETF (DGRO) and Vanguard Growth ETF (VUG) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong. Looking through to holdings, 16.9% 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 VUG?
On 3 years of weekly data the DGRO/VUG correlation comes out at 0.64, strong. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.64). The 5-year figure is 0.75, and annualized covariance runs at 141.5 %².
Among the 138 assets we track against DGRO, VUG ranks #57 by 3-year correlation. Their 12-month results are close: +21.0% for DGRO against +16.2% for VUG. The rolling one-year correlation moved between 0.36 and 0.85 over the past three years, a moderate range. One caveat on sizing: VUG 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 VUG: side by side
| DGRO (iShares Core Dividend Growth ETF) | VUG (Vanguard Growth ETF) | |
|---|---|---|
| 1-year return | +21.0% | +16.2% |
| 5-year return | +67.9% | +78.4% |
| Volatility (ann.) | 11.4% | 19.4% |
| Beta vs S&P 500 | 0.65 | 1.28 |
| Max drawdown (3Y) | -14.0% | -22.8% |
| Dividend yield | 1.89% | 0.40% |
| Expense ratio | 0.08% | 0.03% |
| Assets under management | $42.8B | $372.0B |
| 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. VUG, Vanguard's Large Growth fund, carries $372.0B under management, 146 holdings, a 0.03% expense ratio, a 0.40% trailing dividend yield.
Portfolio overlap between DGRO and VUG
The two portfolios partially overlap, with 38 holdings in common adding up to 16.9% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in DGRO | Weight in VUG |
|---|---|---|
| MSFT | 3.39% | 9.61% |
| AAPL | 2.85% | 12.63% |
| AVGO | 2.28% | 4.47% |
| LLY | 1.21% | 2.72% |
| V | 1.13% | 1.66% |
| MA | 0.73% | 1.28% |
| MCD | 1.07% | 0.55% |
| COST | 0.54% | 1.19% |
| ORCL | 0.50% | 0.64% |
| TJX | 0.38% | 0.50% |
| AMAT | 0.35% | 1.14% |
| APH | 0.29% | 0.57% |
| LRCX | 0.27% | 1.03% |
| KLAC | 0.22% | 0.68% |
| MSI | 0.20% | 0.22% |
Largest positions held only by DGRO: JNJ (3.16%), JPM (3.14%), ABBV (3.03%), XOM (2.86%), MRK (2.20%). Only by VUG: NVDA (12.84%), GOOGL (5.81%), AMZN (5.16%), GOOG (4.64%), META (3.41%).
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 | VUG |
|---|---|---|
| 2022 | -7.9% | -33.2% |
| 2023 | +10.5% | +46.8% |
| 2024 | +16.6% | +32.7% |
| 2025 | +15.7% | +19.4% |
| 2026 | +15.2% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and VUG good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DGRO and VUG?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.37 over the last year and 0.75 over 5 years.
Is VUG a good diversifier for DGRO?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
How much do DGRO and VUG overlap?
16.9% by weight, across 38 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-vug.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgro-vs-vug/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · VUG correlations
