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ETF Comparison

DGRO vs HDV: Dividend Growth or High Dividend Yield?

DGRO screens for companies that raise dividends; HDV screens for durable competitive advantages. Compare a 2.1% grower with a 2.9% payer at the same fee.

Data as of September 28, 2026

DGRO

iShares Core Dividend Growth ETF

BlackRock

Dividend Growth

Price

$72.78

Yield (TTM)

2.10%

DGRO dividend calculator →

HDV

iShares Core High Dividend ETF

BlackRock

High Dividend Yield

Price

$134.02

Yield (TTM)

2.92%

HDV dividend calculator →

Run these ETFs through the calculator

Project compounded returns, dividend income, and reinvestment using each ETF's real yield, expense ratio, and distribution frequency.

Calculate with DGROCalculate with HDVCompare side by side

Quick Comparison Summary

DGRO vs HDV: compare dividend yield (2.1% vs 2.9%), expense ratio (0.08% vs 0.08%), holdings, returns, and our verdict for dividend investors.

Side-by-Side Metrics
MetricDGROHDV
IssuerBlackRockBlackRock
Inception2014-06-102011-03-29
CategoryDividend GrowthHigh Dividend Yield
Price$72.78$134.02
NAV$72.77$134.05
Dividend Yield (TTM)2.10%2.92%
Expense Ratio0.08%0.08%
Distribution FrequencyQuarterlyQuarterly
AUM$39.2B$13.3B
Total Returns

3Y and 5Y figures are annualized. A 0% value indicates the fund had not been listed for the full period.

Holdings & Sector Exposure

DGRO

Top 5 / 5 shown

  • MSFT

    Microsoft

    3.62%

  • AAPL

    Apple

    3.41%

  • JPM

    JPMorgan Chase

    3.18%

  • JNJ

    Johnson & Johnson

    2.88%

  • ABBV

    AbbVie

    2.65%

Sector Weights

  • Financials19.2%
  • Information Tech17.8%
  • Health Care16.5%
  • Consumer Staples12.1%
  • Industrials11.4%
  • Energy6.8%

HDV

Top 5 / 5 shown

  • XOM

    ExxonMobil

    8.92%

  • JNJ

    Johnson & Johnson

    6.81%

  • CVX

    Chevron

    5.95%

  • ABBV

    AbbVie

    5.14%

  • VZ

    Verizon

    4.42%

Sector Weights

  • Energy22.8%
  • Health Care19.4%
  • Consumer Staples17.1%
  • Communication9.8%
  • Industrials8.6%
  • Financials7.2%

Pros & Cons

DGROPros
  • Higher dividend growth rate — the payout is designed to rise
  • More sector-balanced with meaningful tech exposure
  • Payout-ratio screen (under 75%) reduces cut risk
  • Same low 0.08% expense ratio as HDV
HDVPros
  • Higher current yield of the pair (~2.9%)
  • Moat-based screen filters out fragile payers
  • Energy and healthcare exposure diversifies a growth-heavy portfolio
  • Strong five-year total return (~11.3% annualized)
DGROCons
  • Lower starting yield (~2.1%) than HDV
  • Less income today for investors who need it
  • Growth tilt means more valuation sensitivity
  • Dividend growth is not guaranteed to continue
HDVCons
  • Lower dividend growth rate than DGRO
  • Concentrated in a handful of mega-cap names
  • Energy weighting adds commodity sensitivity
  • Less tech exposure means less participation in tech-led rallies
The Verdict

At the same 0.08% expense ratio, these funds represent the two dividend philosophies. DGRO holds companies with at least five years of dividend growth and a healthy payout ratio, yielding ~2.1% with broad sector balance. HDV targets high yield through a quality/moat screen, yielding ~2.9% with heavy energy and healthcare exposure. HDV has the higher current yield; DGRO has the stronger dividend-growth engine and better sector diversification. Which wins depends on whether you need income now or rising income later.

Best for
DGRO

Investors in the accumulation phase who want dividends that grow over time

Best for
HDV

Income-focused investors who want the higher current yield from a quality screened portfolio

Strategy Summary

DGRO

Tracks the Morningstar US Dividend Growth Index — U.S. companies with at least 5 consecutive years of dividend growth, positive earnings payout ratios under 75%, and broad sector exposure.

HDV

Tracks the Morningstar Dividend Yield Focus Index — 75 high-quality U.S. stocks with sustainable competitive advantages, screened by Morningstar's economic-moat and distance-to-default metrics.

Frequently Asked Questions

DGRO. A decade of dividend growth meaningfully raises yield on cost by retirement, whereas HDV's current yield advantage compounds more slowly.

Somewhat — both hold large-cap dividend payers, but their screens produce different sector mixes. DGRO leans into tech and financials; HDV leans into energy and healthcare.

HDV's index is explicitly yield-oriented within a quality universe, while DGRO requires dividend growth and caps payout ratios, which screens out some of the highest yielders.
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01

Dividend Growth vs High Dividend Yield

DGRO vs VYM

DGRO requires at least five years of dividend growth and yields 2.10%; VYM targets above-average yields across several hundred names for 2.41%. Two similar-looking dividend funds with different selection philosophies and outcomes.

Yield 2.1% vs 2.4%Fee 0.08% vs 0.04%
02

High Dividend Yield vs High Dividend Yield

DVY vs HDV

Both target high-dividend US stocks, but DVY skews utilities while HDV skews energy and healthcare with a moat screen. Compare yield, fees, and total returns.

Yield 3.5% vs 2.9%Fee 0.38% vs 0.08%
03

High Dividend Yield vs Dividend Growth

HDV vs SCHD

BlackRock's HDV uses moat + distance-to-default screens; Schwab's SCHD uses cash-flow + dividend-growth screens. Compare yield, sector tilt, and methodology.

Yield 2.9% vs 3.4%Fee 0.08% vs 0.06%
04

Dividend Growth vs Dividend Growth

SCHD vs DGRO

Schwab's SCHD vs BlackRock's DGRO — two of the most popular dividend-growth ETFs. SCHD has higher yield, DGRO has more tech exposure. Compare expense, holdings, sector mix, and growth rates.

Yield 3.4% vs 2.1%Fee 0.06% vs 0.08%
05

Dividend Growth vs Dividend Growth

VIG vs DGRO

Vanguard's VIG and BlackRock's DGRO both focus on dividend growth. Compare expense, holdings, sector mix, and screening methodology.

Yield 1.7% vs 2.1%Fee 0.04% vs 0.08%
06

High Dividend Yield vs High Dividend Yield

VYM vs HDV

Vanguard's broad VYM holds 400+ names; iShares' HDV holds 75 quality-screened names. Compare yield, expense, sector tilt, and which suits your risk tolerance.

Yield 2.4% vs 2.9%Fee 0.04% vs 0.08%

Fund metrics as of April 24, 2026.

Disclaimer: This page is for educational purposes only and is not financial, investment, or tax advice. ETF data is sourced from issuer fact sheets and may be slightly out of date. Past performance is not indicative of future results. Always consult a qualified advisor before making investment decisions.