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DIA vs. EWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DIA vs. EWY

Last updated Jun 9, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and EWY (iShares MSCI South Korea ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index. Both are passively managed. Over the past 10 years, DIA returned 13.18%/yr vs 15.79%/yr for EWY. A 0.56 correlation means they provide meaningful diversification when combined. DIA charges 0.16%/yr vs 0.59%/yr for EWY.

Performance

DIA vs. EWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) and iShares MSCI South Korea ETF (EWY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DIA achieves a 6.40% return, which is significantly lower than EWY's 90.95% return. Over the past 10 years, DIA has underperformed EWY with an annualized return of 13.18%, while EWY has yielded a comparatively higher 15.79% annualized return.

DIA

1D
-0.15%
1M
2.63%
YTD
6.40%
6M
7.17%
1Y
20.62%
3Y*
16.36%
5Y*
9.98%
10Y*
13.18%

EWY

1D
5.96%
1M
-2.40%
YTD
90.95%
6M
99.65%
1Y
189.48%
3Y*
44.08%
5Y*
17.62%
10Y*
15.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DIA vs. EWY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DIA
State Street SPDR Dow Jones Industrial Average ETF Trust		6.40%14.71%14.82%16.02%-7.02%20.83%9.59%24.70%-3.74%28.08%
EWY
iShares MSCI South Korea ETF		90.95%95.33%-20.48%19.05%-26.59%-7.58%39.43%7.97%-20.37%44.97%

Correlation

The correlation between DIA and EWY is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (10Y)
Calculated over the trailing 10-year period

0.55

Correlation (All Time)
Calculated using the full available price history since May 15, 2000

0.56

The correlation between DIA and EWY shifts across timeframes, from 0.42 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

DIA vs. EWY - Sectors Allocation Comparison

Sectors
DIA
EWY

Financial Services

27.2%
9.6%

Industrials

18.4%
20.4%

Technology

17.1%
52.4%

Healthcare

13.1%
3.5%

Consumer Cyclical

11.6%
5.7%

Consumer Defensive

4.4%
1.7%

Basic Materials

4.0%
2.0%

Energy

2.4%
1.4%

Communication Services

1.9%
2.9%

Real Estate

-

-

Utilities

-

0.4%

Financial Services

DIA
27.2%
EWY
9.6%

Industrials

DIA
18.4%
EWY
20.4%

Technology

DIA
17.1%
EWY
52.4%

Healthcare

DIA
13.1%
EWY
3.5%

Consumer Cyclical

DIA
11.6%
EWY
5.7%

Consumer Defensive

DIA
4.4%
EWY
1.7%

Basic Materials

DIA
4.0%
EWY
2.0%

Energy

DIA
2.4%
EWY
1.4%

Communication Services

DIA
1.9%
EWY
2.9%

Real Estate

DIA

-

EWY

-

Utilities

DIA

-

EWY
0.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street SPDR Dow Jones Industrial Average ETF Trust

iShares MSCI South Korea ETF

Often compared with DIA:
DIA vs. QQQDIA vs. SPYDIA vs. VOODIA vs. DJDDIA vs. SCHDDIA vs. IYYDIA vs. ^DJI
Often compared with EWY:
EWY vs. FLKREWY vs. SPYEWY vs. EWJEWY vs. KORUEWY vs. QQQEWY vs. EWTEWY vs. EWH

Return for Risk

DIA vs. EWY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DIA
DIA Risk / Return Rank: 5353
Overall Rank
DIA Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
DIA Sortino Ratio Rank: 5858
Sortino Ratio Rank
DIA Omega Ratio Rank: 5353
Omega Ratio Rank
DIA Calmar Ratio Rank: 4747
Calmar Ratio Rank
DIA Martin Ratio Rank: 5353
Martin Ratio Rank
EWY
EWY Risk / Return Rank: 9595
Overall Rank
EWY Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 9191
Sortino Ratio Rank
EWY Omega Ratio Rank: 9393
Omega Ratio Rank
EWY Calmar Ratio Rank: 9696
Calmar Ratio Rank
EWY Martin Ratio Rank: 9595
Martin Ratio Rank
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 vs. EWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) and iShares MSCI South Korea ETF (EWY). 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.

DIAEWYDifference
Sharpe ratioReturn per unit of total volatility
1.69
4.23

-2.54

Sortino ratioReturn per unit of downside risk
2.48
3.98

-1.50

Omega ratioGain probability vs. loss probability

1.30

1.58

-0.28

Calmar ratioReturn relative to maximum drawdown

2.12

8.26

-6.14

Martin ratioReturn relative to average drawdown

8.20

29.84

-21.64

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 vs. EWY - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.69, which is lower than the EWY Sharpe Ratio of 4.23. The chart below compares the historical Sharpe Ratios of DIA and EWY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DIAEWYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.69

4.23

-2.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.68

0.60

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

0.57

+0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.31

+0.18

Drawdowns

DIA vs. EWY - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, smaller than the maximum EWY drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for DIA and EWY.

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Drawdown Indicators

DIAEWYDifference

Max Drawdown

Largest peak-to-trough decline

-51.87%

-74.14%

+22.27%

Max Drawdown (1Y)

Largest decline over 1 year

-9.76%

-23.08%

+13.32%

Max Drawdown (3Y)

Largest decline over 3 years

-15.95%

-27.36%

+11.41%

Max Drawdown (5Y)

Largest decline over 5 years

-20.76%

-48.55%

+27.79%

Max Drawdown (10Y)

Largest decline over 10 years

-36.70%

-49.73%

+13.03%

Current Drawdown

Current decline from peak

-1.51%

-14.33%

+12.82%

Average Drawdown

Average peak-to-trough decline

-7.14%

-20.12%

+12.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.52%

6.38%

-3.86%

Volatility

DIA vs. EWY - Volatility Comparison

The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 3.39%, while iShares MSCI South Korea ETF (EWY) has a volatility of 25.98%. This indicates that DIA experiences smaller price fluctuations and is considered to be less risky than EWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DIAEWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.39%

25.98%

-22.59%

Volatility (6M)

Calculated over the trailing 6-month period

9.49%

41.23%

-31.74%

Volatility (1Y)

Calculated over the trailing 1-year period

12.26%

45.13%

-32.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.81%

29.70%

-14.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.55%

27.83%

-10.28%

DIA vs. EWY - Expense Ratio Comparison

DIA has a 0.16% expense ratio, which is lower than EWY's 0.59% expense ratio.

Dividends

DIA vs. EWY - Dividend Comparison

DIA's dividend yield for the trailing twelve months is around 1.38%, more than EWY's 1.10% yield.

PositionTTM20252024202320222021202020192018201720162015
DIA
State Street SPDR Dow Jones Industrial Average ETF Trust		1.38%1.43%1.61%1.81%1.91%1.58%1.87%1.85%2.24%1.97%2.26%2.33%
EWY
iShares MSCI South Korea ETF		1.10%2.10%2.55%2.52%1.23%2.16%0.73%2.10%1.34%2.90%1.21%2.42%

Frequently Asked Questions

DIA and EWY have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWY has higher volatility (25.98%) compared to DIA (3.39%). In terms of maximum drawdown, DIA dropped -51.87% vs EWY's -74.14%.

On 10-year performance, EWY leads with 15.79% vs 13.18% for DIA. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EWY has performed better with a 15.79% return vs 13.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DIA is cheaper with a 0.16% expense ratio, compared with 0.59% for EWY.

DIA has the higher dividend yield at 1.38%, compared with 1.10% for EWY.

DIA is categorized as Large Cap Blend Equities, while EWY is Asia Pacific Equities. DIA tracks Dow Jones Industrial Average, while EWY tracks MSCI Korea Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.16% for DIA and 0.59% for EWY.

EWY currently has the higher Sharpe Ratio (4.23 vs 1.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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