DIA.AS vs. EWL
DIA.AS (SPDR Dow Jones Industrial Average ETF Trust) and EWL (iShares MSCI Switzerland ETF) are both exchange-traded funds - DIA.AS is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while EWL is a Europe Equities fund tracking the MSCI Switzerland Index. Both are passively managed. Over the past 10 years, DIA.AS returned 12.70%/yr vs 9.48%/yr for EWL. At a 0.40 correlation, their price movements are largely independent. DIA.AS charges 0.16%/yr vs 0.50%/yr for EWL.
Performance
DIA.AS vs. EWL - Performance Comparison
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Different Trading Currencies
DIA.AS is traded in EUR, while EWL is traded in USD. To make them comparable, the EWL values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, DIA.AS achieves a 12.14% return, which is significantly higher than EWL's 9.51% return. Over the past 10 years, DIA.AS has outperformed EWL with an annualized return of 12.70%, while EWL has yielded a comparatively lower 9.48% annualized return.
DIA.AS
- 1D
- 0.00%
- 1M
- 2.09%
- 6M
- 9.82%
- YTD
- 12.14%
- 1Y
- 23.72%
- 3Y*
- 14.93%
- 5Y*
- 11.14%
- 10Y*
- 12.70%
- ALL TIME*
- 9.62%
EWL
- 1D
- 0.58%
- 1M
- 2.66%
- 6M
- 8.94%
- YTD
- 9.51%
- 1Y
- 19.91%
- 3Y*
- 10.90%
- 5Y*
- 7.77%
- 10Y*
- 9.48%
- ALL TIME*
- 8.23%
DIA.AS vs. EWL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIA.AS SPDR Dow Jones Industrial Average ETF Trust | 12.14% | 2.13% | 22.48% | 11.53% | -1.09% | 31.76% | -0.04% | 26.82% | 0.96% | 12.57% |
EWL iShares MSCI Switzerland ETF | 9.51% | 17.15% | 3.61% | 14.14% | -13.87% | 29.19% | 2.59% | 34.55% | -4.94% | 8.18% |
Correlation
The correlation between DIA.AS and EWL is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.40 |
Over the past year, the correlation between DIA.AS and EWL has dropped to 0.07 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
DIA.AS vs. EWL — Risk / Return Rank
DIA.AS
EWL
DIA.AS vs. EWL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Industrial Average ETF Trust (DIA.AS) and iShares MSCI Switzerland ETF (EWL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DIA.AS | EWL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +2.31 | ||
| Omega ratioGain probability vs. loss probability | 2.36 | 1.26 | +1.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 1.72 | +2.41 |
| Martin ratioReturn relative to average drawdown | 14.67 | 5.97 | +8.70 |
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Drawdowns
DIA.AS vs. EWL - Drawdown Comparison
The maximum DIA.AS drawdown since its inception was -59.02%, which is greater than EWL's maximum drawdown of -43.99%. Use the drawdown chart below to compare losses from any high point for DIA.AS and EWL.
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Drawdown Indicators
| DIA.AS | EWL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.02% | -43.99% | -15.03% |
Max Drawdown (1Y)Largest decline over 1 year | -5.71% | -11.59% | +5.88% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -13.75% | -7.32% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -18.41% | -2.66% |
Max Drawdown (10Y)Largest decline over 10 years | -36.08% | -28.96% | -7.12% |
Current DrawdownCurrent decline from peak | -0.27% | -1.83% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -11.78% | -7.16% | -4.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 3.34% | -1.73% |
Volatility
DIA.AS vs. EWL - Volatility Comparison
The current volatility for SPDR Dow Jones Industrial Average ETF Trust (DIA.AS) is 1.51%, while iShares MSCI Switzerland ETF (EWL) has a volatility of 3.72%. This indicates that DIA.AS experiences smaller price fluctuations and is considered to be less risky than EWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIA.AS | EWL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 3.72% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.76% | 11.24% | -3.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.15% | 13.97% | -4.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.39% | 13.80% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.03% | 15.32% | +1.71% |
DIA.AS vs. EWL - Expense Ratio Comparison
DIA.AS has a 0.16% expense ratio, which is lower than EWL's 0.50% expense ratio.
Dividends
DIA.AS vs. EWL - Dividend Comparison
DIA.AS's dividend yield for the trailing twelve months is around 1.35%, less than EWL's 1.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIA.AS SPDR Dow Jones Industrial Average ETF Trust | 1.35% | 1.47% | 1.55% | 1.85% | 1.93% | 1.52% | 2.03% | 2.10% | 2.18% | 2.08% | 2.16% | 2.51% |
EWL iShares MSCI Switzerland ETF | 1.74% | 1.71% | 2.21% | 2.12% | 2.04% | 1.73% | 1.45% | 1.85% | 2.56% | 2.05% | 2.75% | 2.58% |
Frequently Asked Questions
DIA.AS and EWL have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DIA.AS is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DIA.AS is cheaper with a 0.16% expense ratio, compared with 0.50% for EWL.
DIA.AS is categorized as Large Cap Value Equities, while EWL is Europe Equities. DIA.AS tracks Russell 1000 Value TR USD, while EWL tracks MSCI Switzerland Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.16% for DIA.AS and 0.50% for EWL.
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