DIA vs SPY Stock Comparison: AI Score, Valuation, Performance and Upside
DIA and SPY both provide blue-chip U.S. equity exposure, but through fundamentally different methodologies. DIA tracks 30 price-weighted DJIA companies with monthly dividends; SPY tracks 500 market-cap weighted S&P 500 companies with unmatched liquidity. SPY's superior diversification, market-cap weighting, and liquidity make it the preferred equity index vehicle; DIA's monthly dividends and DJIA recognition attract specific investor segments.
DIA vs SPY is a comparison of the world's oldest iconic index (DJIA price-weighted, 30 companies) against the world's most used institutional benchmark (S&P 500 market-cap weighted, 500 companies) — SPY represents more modern, economically sound index methodology while DIA offers monthly dividends and blue-chip concentration.
SPY holds the edge across 3 of 5 key metrics in this comparison. SPY has delivered stronger 1-year price return (+16.58% vs +13.48% for DIA).
- prefer monthly dividend payments from an equity ETF to match monthly income needs or reinvestment schedules
- value concentrated exposure to the 30 most iconic U.S. blue-chip companies in the DJIA
- want lower technology sector weight than the S&P 500 with more industrials and consumer staples exposure
- are comfortable with price-weighting methodology that gives high-priced stocks disproportionate index influence
- prefer market-cap weighted S&P 500 exposure as the economically rational and institutionally dominant benchmark
- value the deepest options market and tightest bid-ask spreads for tactical equity market trading and hedging
- want 500-company diversification across all U.S. large-cap sectors rather than DIA's 30-company concentration
- are comfortable with quarterly dividend distribution and UIT structure in exchange for maximum institutional liquidity
| Metric | DIA | SPY |
|---|---|---|
| ETF scorei | 67.0 | 79.0 |
| Latest closei | $515.88 | $761.69 |
| 1M returni | -3.14% | -0.71% |
| 6M returni | +13.97% | +18.04% |
| 1Y returni | +13.48% | +16.58% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | DIA | SPY |
|---|---|---|
| 1Y ago | $11.55K (+15.5%) started 2025-09-18 | $11.82K (+18.2%) started 2025-09-18 |
| 5Y ago | $18.14K (+81.4%) started 2021-09-20 | $20.11K (+101.1%) started 2021-09-20 |
| 10Y ago | $42.72K (+327.2%) started 2016-09-19 | $49.6K (+396.0%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | DIA | SPY |
|---|---|---|
| Expense ratioi | 0.16% | 0.09% |
| Total assets (AUM)i | $45.46B | $811.94B |
| Dividend yieldi | 1.38% | 0.98% |
| Trailing P/Ei | 20.95 | 24.61 |
| Betai | 0.87 | 1.02 |
| 52-week change | 13.48% | 16.58% |
| Metric | DIA | SPY |
|---|---|---|
| 1Y returni | +13.48% | +16.58% |
| 6M returni | +13.97% | +18.04% |
| 1M returni | -3.14% | -0.71% |
| 1Y Sharpe ratio | 0.71 | 0.91 |
| Betai | 0.87 | 1.02 |
| Dividend yieldi | 1.38% | 0.98% |
| 5Y CAGR | +10.65% | +13.43% |
Over the past year, DIA and SPY have moved strongly in the same direction (correlation of 0.84), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | DIA | SPY |
|---|---|---|---|
| 1Y | Growthi | +13.48% | +16.58% |
| CAGRi | +13.49% | +16.59% | |
| Volatilityi | 12.60% | 12.88% | |
| Sharpe ratioi | 0.71 | 0.91 | |
| Sortino ratioi | 1.05 | 1.31 | |
| Max drawdowni | 9.76% | 8.88% | |
| Current drawdowni | 4.66% | 1.84% | |
| Avg drawdowni | 1.72% | 1.45% | |
| Ulcer Indexi | 2.66% | 2.14% | |
| Max daily dropi | 2.18% | 2.70% | |
| Max wkly dropi | 4.35% | 3.82% | |
| 5Y | Growthi | +65.75% | +87.63% |
| CAGRi | +10.65% | +13.43% | |
| Volatilityi | 14.86% | 17.19% | |
| Sharpe ratioi | 0.45 | 0.56 | |
| Sortino ratioi | 0.65 | 0.80 | |
| Max drawdowni | 20.76% | 24.50% | |
| Current drawdowni | 4.66% | 1.84% | |
| Avg drawdowni | 4.21% | 5.57% | |
| Ulcer Indexi | 6.01% | 8.45% | |
| Max daily dropi | 5.43% | 5.85% | |
| Max wkly dropi | 10.27% | 11.50% | |
| 10Y | Growthi | +245.54% | +317.93% |
| CAGRi | +13.21% | +15.38% | |
| Volatilityi | 17.54% | 17.95% | |
| Sharpe ratioi | 0.54 | 0.64 | |
| Sortino ratioi | 0.75 | 0.89 | |
| Max drawdowni | 36.70% | 33.72% | |
| Current drawdowni | 4.66% | 1.84% | |
| Avg drawdowni | 3.87% | 4.31% | |
| Ulcer Indexi | 6.15% | 7.16% | |
| Max daily dropi | 12.76% | 10.94% | |
| Max wkly dropi | 18.87% | 17.97% |
| Category | DIA | SPY |
|---|---|---|
| Fund name | State Street SPDR Dow Jones Industrial Average ETF Trust | State Street SPDR S&P 500 ETF Trust |
| Type | ETF | ETF |
| Expense ratioi | 0.16% | 0.09% |
| Total assets (AUM)i | $45.46B | $811.94B |
| Dividend yieldi | 1.38% | 0.98% |
- Monthly dividend payment schedule is unusual among equity ETFs and attractive to income investors who prefer monthly cash flow
- DJIA's 30 blue-chip companies are among the most financially sound and globally recognized corporations
- DJIA as a benchmark has global recognition and historical significance as one of the oldest equity indices
- Market-cap weighting is the most economically rational methodology, with weights reflecting actual market judgments about corporate value
- 500 holdings across all sectors provides true large-cap U.S. diversification versus DIA's 30 blue-chips
- World's most liquid ETF by trading volume — the deepest options market, tightest bid-ask spreads, and largest AUM of any ETF
- Price-weighting is economically irrational — a stock split (which doesn't change economic value) changes its index weight dramatically
- Only 30 holdings versus SPY's 500 creates far more concentration and less sector diversification
- Limited technology exposure — the DJIA has historically underweighted technology relative to the S&P 500, costing performance during tech-led markets
- 0.0945% expense ratio is higher than IVV's 0.03%, though lower than DIA's 0.16%
- UIT structure holds dividends as cash until quarterly distribution rather than reinvesting immediately
- S&P 500 concentration in megacap tech (AAPL, MSFT, NVDA, AMZN, GOOGL) means the index is heavily influenced by a few companies
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