# DGRO vs SCHD

iShares Core Dividend Growth ETF against Schwab US Dividend Equity ETF.

Canonical page: https://tickerinside.com/compare/dgro-vs-schd/
Prices through 2026-09-04. DGRO holdings as published 2026-09-03, SCHD 2026-09-03.
Licence: CC BY 4.0, attribution to TickerInside.

## 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%.

## Key figures

| Measure | Value |
| --- | --- |
| Holdings overlap by weight | 20.8% |
| Companies held by both | 32 |
| Share of DGRO held in common | 20.8% |
| Share of SCHD held in common | 59.4% |
| Correlation of weekly returns, 3 years | 0.88 |
| Cost per year | DGRO 0.08%, SCHD 0.06% |
| Return, 3 years | DGRO 64.5%, SCHD 58.3% |
| Worst fall, 3 years | DGRO -12.1%, SCHD -12.8% |
| Volatility, annualised | DGRO 11.4%, SCHD 12.8% |
| Positions | DGRO 384, SCHD 100 |

## Analysis

### 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.

## Largest positions held by both

| Ticker | Company | In DGRO | In SCHD | Counted as overlap |
| --- | --- | --- | --- | --- |
| MRK | Merck & Co Inc | 2.2% | 4.91% | 2.2% |
| PG | Procter & Gamble | 2.16% | 3.87% | 2.16% |
| HD | Home Depot | 2.01% | 3.75% | 2.01% |
| KO | Coca-Cola | 1.95% | 4.16% | 1.95% |
| UNH | Unitedhealth Group Inc | 1.67% | 3.93% | 1.67% |
| PEP | Pepsico | 1.64% | 3.63% | 1.64% |
| AMGN | Amgen Inc | 1.47% | 4.85% | 1.47% |
| ABT | Abbott Laboratories | 1.11% | 4.61% | 1.11% |
| COP | Conocophillips | 0.99% | 4.02% | 0.99% |
| ACN | Accenture PLC | 0.94% | 2.88% | 0.94% |
| ADP | Automatic Data Processing Inc | 0.71% | 2.76% | 0.71% |
| QCOM | Qualcomm | 0.61% | 2.49% | 0.61% |
| LMT | Lockheed Martin Corp | 0.58% | 2.63% | 0.58% |
| EOG | Eog Resources | 0.48% | 1.89% | 0.48% |
| FITB | Fifth Third Bancorp | 0.32% | 1.21% | 0.32% |

## Covariance and correlation

Covariance is annualised and expressed in percent squared, so the diagonal is each fund's variance. Dividing the off-diagonal by the two volatilities returns the correlation.

| | DGRO | SCHD |
| --- | --- | --- |
| DGRO | 130 | 128.9 |
| SCHD | 128.9 | 164 |

Correlation over 1, 3 and 5 years: 0.75, 0.88, 0.93.

## Method

How every figure is produced: https://tickerinside.com/how-the-numbers-are-produced/
Machine readable version of this comparison: https://tickerinside.com/api/v1/compare/dgro-vs-schd.json