DIA.AS vs. FEZ

Last updated Jun 4, 2026

DIA.AS (SPDR Dow Jones Industrial Average ETF Trust) and FEZ (SPDR EURO STOXX 50 ETF) are both exchange-traded funds - DIA.AS is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while FEZ is a Europe Equities fund tracking the EURO STOXX 50 Index. Both are passively managed. Over the past 10 years, DIA.AS returned 13.06%/yr vs 10.05%/yr for FEZ. At a 0.45 correlation, their price movements are largely independent. DIA.AS charges 0.16%/yr vs 0.29%/yr for FEZ.

Performance

DIA.AS vs. FEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR Dow Jones Industrial Average ETF Trust (DIA.AS) and SPDR EURO STOXX 50 ETF (FEZ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DIA.AS is traded in EUR, while FEZ is traded in USD. To make them comparable, the FEZ 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 7.19% return, which is significantly higher than FEZ's 6.44% return. Over the past 10 years, DIA.AS has outperformed FEZ with an annualized return of 13.06%, while FEZ has yielded a comparatively lower 10.05% annualized return.

DIA.AS

• 1D: 1.09%
• 1M: 4.34%
• YTD: 7.19%
• 6M: 7.57%
• 1Y: 20.20%
• 3Y*: 13.70%
• 5Y*: 10.94%
• 10Y*: 13.06%

FEZ

• 1D: -1.04%
• 1M: 5.96%
• YTD: 6.44%
• 6M: 7.45%
• 1Y: 14.58%
• 3Y*: 14.60%
• 5Y*: 10.94%
• 10Y*: 10.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DIA.AS vs. FEZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIA.AS SPDR Dow Jones Industrial Average ETF Trust	7.19%	2.13%	22.48%	11.53%	-1.09%	31.76%	-0.04%	26.82%	0.96%	12.57%
FEZ SPDR EURO STOXX 50 ETF	6.44%	21.46%	10.41%	23.35%	-8.96%	23.43%	-3.80%	28.89%	-11.90%	9.47%

Correlation

The correlation between DIA.AS and FEZ is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008	0.45

Over the past year, the correlation between DIA.AS and FEZ has dropped to 0.16 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

Return for Risk

DIA.AS vs. FEZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIA.AS

DIA.AS Risk / Return Rank: 77
DIA.AS Sharpe Ratio Rank: 66
DIA.AS Sortino Ratio Rank: 82
DIA.AS Omega Ratio Rank: 98
DIA.AS Calmar Ratio Rank: 70
DIA.AS Martin Ratio Rank: 67

FEZ

FEZ Risk / Return Rank: 26
FEZ Sharpe Ratio Rank: 26
FEZ Sortino Ratio Rank: 26
FEZ Omega Ratio Rank: 25
FEZ Calmar Ratio Rank: 26
FEZ Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DIA.AS vs. FEZ - 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 SPDR EURO STOXX 50 ETF (FEZ). 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.

	DIA.AS	FEZ	Difference
Sharpe ratio: Return per unit of total volatility	2.20	0.91	+1.29
Sortino ratio: Return per unit of downside risk	3.74	1.38	+2.36
Omega ratio: Gain probability vs. loss probability	2.12	1.17	+0.95
Calmar ratio: Return relative to maximum drawdown	3.49	1.25	+2.24
Martin ratio: Return relative to average drawdown	12.35	4.43	+7.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIA.AS vs. FEZ - Sharpe Ratio Comparison

The current DIA.AS Sharpe Ratio is 2.20, which is higher than the FEZ Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of DIA.AS and FEZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DIA.AS	FEZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	0.91	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.62	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.52	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.21	-0.11

Drawdowns

DIA.AS vs. FEZ - Drawdown Comparison

The maximum DIA.AS drawdown since its inception was -59.02%, roughly equal to the maximum FEZ drawdown of -58.41%. Use the drawdown chart below to compare losses from any high point for DIA.AS and FEZ.

Drawdown Indicators

	DIA.AS	FEZ	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-58.41%	-0.61%
Max Drawdown (1Y) Largest decline over 1 year	-5.71%	-11.67%	+5.96%
Max Drawdown (3Y) Largest decline over 3 years	-21.07%	-16.69%	-4.38%
Max Drawdown (5Y) Largest decline over 5 years	-21.07%	-23.29%	+2.22%
Max Drawdown (10Y) Largest decline over 10 years	-36.08%	-38.48%	+2.40%
Current Drawdown Current decline from peak	0.00%	-1.04%	+1.04%
Average Drawdown Average peak-to-trough decline	-11.92%	-14.87%	+2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	3.30%	-1.68%

Volatility

DIA.AS vs. FEZ - Volatility Comparison

The current volatility for SPDR Dow Jones Industrial Average ETF Trust (DIA.AS) is 2.35%, while SPDR EURO STOXX 50 ETF (FEZ) has a volatility of 5.91%. This indicates that DIA.AS experiences smaller price fluctuations and is considered to be less risky than FEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIA.AS	FEZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	5.91%	-3.56%
Volatility (6M) Calculated over the trailing 6-month period	7.88%	13.07%	-5.19%
Volatility (1Y) Calculated over the trailing 1-year period	9.05%	16.01%	-6.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	17.60%	-4.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	19.28%	-2.24%

DIA.AS vs. FEZ - Expense Ratio Comparison

DIA.AS has a 0.16% expense ratio, which is lower than FEZ's 0.29% expense ratio.

Dividends

DIA.AS vs. FEZ - Dividend Comparison

DIA.AS's dividend yield for the trailing twelve months is around 1.37%, less than FEZ's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA.AS SPDR Dow Jones Industrial Average ETF Trust	1.37%	1.47%	1.55%	1.85%	1.93%	1.52%	2.03%	2.10%	2.18%	2.08%	2.16%	2.51%
FEZ SPDR EURO STOXX 50 ETF	2.57%	2.78%	2.94%	2.75%	3.06%	2.61%	2.13%	2.61%	3.45%	2.44%	3.35%	3.03%

Frequently Asked Questions

Can I hold both DIA.AS and FEZ in my portfolio?

DIA.AS and FEZ have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DIA.AS or FEZ?

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.

Which ETF is cheaper, DIA.AS or FEZ?

DIA.AS is cheaper with a 0.16% expense ratio, compared with 0.29% for FEZ.

What is the main difference between DIA.AS and FEZ?

DIA.AS is categorized as Large Cap Value Equities, while FEZ is Europe Equities. DIA.AS tracks Russell 1000 Value TR USD, while FEZ tracks EURO STOXX 50 Index. Their fees differ too: 0.16% for DIA.AS and 0.29% for FEZ.