PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
DIA vs. EWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DIA vs. EWY

Last updated Jul 21, 2026
Documentation

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 South Korea Equities fund tracking the MSCI Korea Index. Both are passively managed. Over the past 10 years, DIA returned 12.96%/yr vs 13.73%/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.

Loading charts...

Returns By Period

In the year-to-date period, DIA achieves a 8.61% return, which is significantly lower than EWY's 67.52% return. Over the past 10 years, DIA has underperformed EWY with an annualized return of 12.96%, while EWY has yielded a comparatively higher 13.73% annualized return.

DIA

1D
-0.55%
1M
0.50%
6M
5.75%
YTD
8.61%
1Y
18.61%
3Y*
15.60%
5Y*
10.19%
10Y*
12.96%
ALL TIME*
9.13%

EWY

1D
0.20%
1M
-25.70%
6M
45.13%
YTD
67.52%
1Y
130.03%
3Y*
38.38%
5Y*
15.11%
10Y*
13.73%
ALL TIME*
9.80%
*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		8.61%14.71%14.82%16.02%-7.02%20.83%9.59%24.70%-3.74%28.08%
EWY
iShares MSCI South Korea ETF		67.52%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 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.40

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

0.45

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

0.50

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

0.54

Correlation (All Time)
Calculated using the full available price history since May 12, 2000

0.56

The correlation between DIA and EWY shifts across timeframes, from 0.40 (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

26.7%
11.3%

Industrials

18.9%
14.6%

Technology

16.1%
56.1%

Healthcare

13.2%
3.3%

Consumer Cyclical

10.3%
5.9%

Communication Services

5.2%
2.6%

Basic Materials

3.9%
2.2%

Consumer Defensive

3.9%
2.1%

Energy

1.9%
0.8%

Real Estate

-

-

Utilities

-

0.3%

Financial Services

DIA
26.7%
EWY
11.3%

Industrials

DIA
18.9%
EWY
14.6%

Technology

DIA
16.1%
EWY
56.1%

Healthcare

DIA
13.2%
EWY
3.3%

Consumer Cyclical

DIA
10.3%
EWY
5.9%

Communication Services

DIA
5.2%
EWY
2.6%

Basic Materials

DIA
3.9%
EWY
2.2%

Consumer Defensive

DIA
3.9%
EWY
2.1%

Energy

DIA
1.9%
EWY
0.8%

Real Estate

DIA

-

EWY

-

Utilities

DIA

-

EWY
0.3%

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. EWTEWY vs. QQQEWY 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: 5959
Overall Rank
DIA Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
DIA Sortino Ratio Rank: 6565
Sortino Ratio Rank
DIA Omega Ratio Rank: 6060
Omega Ratio Rank
DIA Calmar Ratio Rank: 5050
Calmar Ratio Rank
DIA Martin Ratio Rank: 5858
Martin Ratio Rank
EWY
EWY Risk / Return Rank: 8989
Overall Rank
EWY Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 8282
Sortino Ratio Rank
EWY Omega Ratio Rank: 8686
Omega Ratio Rank
EWY Calmar Ratio Rank: 9494
Calmar Ratio Rank
EWY Martin Ratio Rank: 9191
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.

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.

DIAEWYDifference
Sharpe ratioReturn per unit of total volatility
1.53
2.53

-1.01

Sortino ratioReturn per unit of downside risk
2.26
2.78

-0.52

Omega ratioGain probability vs. loss probability

1.27

1.40

-0.12

Calmar ratioReturn relative to maximum drawdown

1.92

5.06

-3.14

Martin ratioReturn relative to average drawdown

7.39

16.04

-8.65

DIA vs. EWY - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.53, which is lower than the EWY Sharpe Ratio of 2.53. 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.

Loading charts...

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.

Loading charts...

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%

-25.85%

+16.09%

Max Drawdown (3Y)

Largest decline over 3 years

-15.95%

-27.36%

+11.41%

Max Drawdown (5Y)

Largest decline over 5 years

-20.76%

-47.15%

+26.39%

Max Drawdown (10Y)

Largest decline over 10 years

-36.70%

-49.73%

+13.03%

Current Drawdown

Current decline from peak

-2.26%

-25.70%

+23.44%

Average Drawdown

Average peak-to-trough decline

-7.11%

-20.09%

+12.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

8.14%

-5.61%

Volatility

DIA vs. EWY - Volatility Comparison

The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 2.21%, while iShares MSCI South Korea ETF (EWY) has a volatility of 22.94%. 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.

Loading charts...

Volatility by Period

DIAEWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.21%

22.94%

-20.73%

Volatility (6M)

Calculated over the trailing 6-month period

9.66%

48.48%

-38.82%

Volatility (1Y)

Calculated over the trailing 1-year period

12.27%

51.71%

-39.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.78%

31.91%

-17.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.51%

28.90%

-11.39%

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 1.39%, more than EWY's 1.25% yield.

PositionTTM20252024202320222021202020192018201720162015
DIA
State Street SPDR Dow Jones Industrial Average ETF Trust		1.39%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		1.25%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 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWY has higher volatility (22.94%) compared to DIA (2.21%). In terms of maximum drawdown, DIA dropped -51.87% vs EWY's -74.14%.

On 10-year performance, EWY leads with 13.73% vs 12.96% for DIA. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 2.21%. 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 13.73% return vs 12.96%. 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 1.39%, compared with 1.25% for EWY.

DIA is categorized as Large Cap Blend Equities, while EWY is South Korea 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 (2.53 vs 1.53), 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.

Portfolio Optimizer

Find the right allocation for DIA and EWY

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer