DGRO vs SCHD
iShares Core Dividend Growth ETF against Schwab US Dividend Equity ETF.
The short answer
SCHD is the narrower fund and the higher payer: 102 positions and a 3.0% yield against 390 and 1.87% for DGRO. 59.4% of SCHD's weight is in companies DGRO also holds, but the reverse share is only 20.8%.
The two funds
- Last close, 2026-09-04
- $79.13 -0.60%
- Cost per year
- 0.08%
- Return, 1 year
- 20.7%
- Return, 3 years
- 64.5%higher
- Worst fall, 3 years
- -12.1%shallower
- Volatility
- 11.4%calmer
- Positions
- 390
- Top 10 weight
- 27.6%
- Last close, 2026-09-04
- $34.80 -0.80%
- Cost per year
- 0.06%cheaper
- Return, 1 year
- 30.5%higher
- Return, 3 years
- 58.3%
- Worst fall, 3 years
- -12.8%
- Volatility
- 12.8%
- Positions
- 102
- Top 10 weight
- 42.2%
DGRO and SCHD, prices through 2026-09-04. How the badges are decided.
Holdings overlap
32 companies sit in both funds. That is 20.8% of DGRO's own weight and 59.4% of SCHD's.
Side by side
Issuer files, DGRO 3 Sep 2026, SCHD 3 Sep 2026
What the numbers say
Two dividend screens with a small intersection
DGRO admits a company after five years of dividend growth and a payout ratio below three quarters of earnings, which is why Apple, Microsoft and Broadcom are inside it. SCHD asks for ten years of payments and then ranks on cash flow against debt, return on equity, yield and dividend growth, and low yielders such as those three do not score high enough to make its hundred. The result is 32 shared companies, weighing 20.8% of the pair: Merck, Procter & Gamble, Home Depot, Coca-Cola and PepsiCo are the largest of them.
Which way the overlap runs
Because SCHD is a list of 102 and DGRO a list of 390, the shared names carry 59.4% of SCHD's weight but only 20.8% of DGRO's. DGRO's 358 unshared companies include Johnson & Johnson, JPMorgan, AbbVie and Exxon. SCHD's 70 include Chevron, Verizon, Bristol Myers Squibb and Texas Instruments, several of them among its ten largest positions.
Yield, cost and how they have moved
SCHD pays 3.0% against 1.87% for DGRO and costs 0.06% against 0.08%, a difference of $2 a year per $10,000. Over the past year SCHD returned 30.5% and DGRO 20.7%; over three years the order reverses, 64.5% for DGRO against 58.3%, and over five years 70.6% against 64.1%. The worst falls were close, -12.1% and -12.8%, with DGRO the calmer of the two at 11.4% volatility against 12.8%.
What a portfolio holding both actually owns
Weekly returns correlated at 0.88 over three years and 0.75 over the past year, so the two do not move in lockstep. With 42.2% of SCHD in its ten largest positions against 27.6% for DGRO, pairing them mostly adds DGRO's broad list of growers to SCHD's concentrated list of payers, and the 32 names in both are the only place the weights stack.
Where they hold the same companies
| Measure | Value |
|---|---|
| Overlap by weight | 20.8% |
| Share of DGRO held in common with SCHD | 20.8% |
| Share of SCHD held in common with DGRO | 59.4% |
| Companies in both | 32 |
| Positions in DGRO / SCHD | 390 / 102 |
DGRO holdings as published 2026-09-03, SCHD 2026-09-03.
Largest positions held by both
| Rank | Company | In DGRO | In SCHD | Weight in each | Overlap |
|---|---|---|---|---|---|
| 1 | MRK Merck & Co Inc | 2.2% | 4.91% | 2.2% | |
| 2 | PG Procter & Gamble | 2.16% | 3.87% | 2.16% | |
| 3 | HD Home Depot | 2.01% | 3.75% | 2.01% | |
| 4 | KO Coca-Cola | 1.95% | 4.16% | 1.95% | |
| 5 | UNH Unitedhealth Group Inc | 1.67% | 3.93% | 1.67% | |
| 6 | PEP Pepsico | 1.64% | 3.63% | 1.64% | |
| 7 | AMGN Amgen Inc | 1.47% | 4.85% | 1.47% | |
| 8 | ABT Abbott Laboratories | 1.11% | 4.61% | 1.11% | |
| 9 | COP Conocophillips | 0.99% | 4.02% | 0.99% | |
| 10 | ACN Accenture PLC | 0.94% | 2.88% | 0.94% | |
| 11 | ADP Automatic Data Processing Inc | 0.71% | 2.76% | 0.71% | |
| 12 | QCOM Qualcomm | 0.61% | 2.49% | 0.61% | |
| 13 | LMT Lockheed Martin Corp | 0.58% | 2.63% | 0.58% | |
| 14 | EOG Eog Resources | 0.48% | 1.89% | 0.48% | |
| 15 | FITB Fifth Third Bancorp | 0.32% | 1.21% | 0.32% |
Held by only one of them
| In DGRO only | Weight | In SCHD only | Weight |
|---|---|---|---|
| MSFT Microsoft | 3.49% | CVX Chevron | 4.11% |
| JNJ Johnson & Johnson | 3.27% | VZ Verizon Communications Inc | 4.01% |
| JPM JPMorgan Chase & Co | 3.19% | BMY Bristol Myers Squibb | 3.38% |
| ABBV Abbvie | 3.01% | TXN Texas Instrument Inc | 3.04% |
| AAPL Apple | 2.99% | MO Altria Group Inc | 2.82% |
| XOM Exxonmobil Holdings Corp | 2.94% | BX Blackstone | 2.49% |
| AVGO Broadcom Inc | 2.3% | CMCSA Comcast | 2.31% |
| PM Philip Morris International Inc | 2.04% | SLB SLB | 2.09% |
| BAC Bank of America | 1.83% | UPS United Parcel Service Inc | 1.88% |
| WFC Wells Fargo | 1.28% | TGT Target Corp | 1.81% |
Covariance and correlation
Covariance, annualised (%2)
| DGRO | SCHD | |
|---|---|---|
| DGRO | 130 | 128.9 |
| SCHD | 128.9 | 164 |
Percent squared per year, three years of weekly returns
Correlation, 3 years
| DGRO | SCHD | |
|---|---|---|
| DGRO | 1.00 | 0.88usually in step |
| SCHD | 0.88usually in step | 1.00 |
Weekly total returns, what the bands mean
Check it: 128.9 divided by (11.4 × 12.8) is 0.88, the correlation in the second matrix.
One year, side by side
Cost, returns and risk
| Measure | DGRO | SCHD |
|---|---|---|
| Expense ratio | 0.08% | 0.06% |
| Dividend yield | 1.87% | 3.00% |
| Total return, 1 year | 20.7% | 30.5% |
| Total return, 3 years cumulative | 64.5% | 58.3% |
| Total return, 5 years cumulative | 70.6% | 64.1% |
| Volatility, annualised on 3 years of weekly returns | 11.4% | 12.8% |
| Worst fall in 3 years, peak to trough, weekly closes | -12.1% | -12.8% |
| Beta against the S&P 500 | 0.65 | 0.52 |
| Positions held | 390 | 102 |
| Weight in the ten largest positions | 27.6% | 42.2% |
| Weight in the single largest position | 3.5% | 4.9% |
| Assets | $43.5B | $112.3B |
Prices through 2026-09-04.
Year by year
| Year | DGRO | SCHD |
|---|---|---|
| 2026 | 15.0% | 29.0% |
| 2025 | 15.7% | 4.3% |
| 2024 | 16.6% | 11.7% |
| 2023 | 10.5% | 4.5% |
| 2022 | -7.9% | -3.3% |
Do they move together
| Window | Correlation of weekly returns |
|---|---|
| 1 year | 0.75 |
| 3 years | 0.88 |
| 5 years | 0.93 |
Where to go next
- DGRO, the full page: every holding, and what else it duplicates
- SCHD, the full page
- QQQ vs SPY
- VIG vs VYM
- VOO vs VUG
- Run the x-ray on your whole portfolio, this pair included
- Check any other pair in the overlap calculator
How these numbers are produced · Ask the same questions from your assistant
