DIA vs. IEF
DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and IEF (iShares 7-10 Year Treasury Bond ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, DIA returned 13.40%/yr vs 0.59%/yr for IEF. At a correlation of -0.27, they often move in opposite directions. DIA charges 0.16%/yr vs 0.15%/yr for IEF.
Performance
DIA vs. IEF - Performance Comparison
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Returns By Period
In the year-to-date period, DIA achieves a 7.27% return, which is significantly higher than IEF's -0.47% return. Over the past 10 years, DIA has outperformed IEF with an annualized return of 13.40%, while IEF has yielded a comparatively lower 0.59% annualized return.
DIA
- 1D
- 0.73%
- 1M
- 3.26%
- YTD
- 7.27%
- 6M
- 6.43%
- 1Y
- 21.01%
- 3Y*
- 16.29%
- 5Y*
- 10.14%
- 10Y*
- 13.40%
IEF
- 1D
- -0.17%
- 1M
- 0.19%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.39%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
DIA vs. IEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 7.27% | 14.71% | 14.82% | 16.02% | -7.02% | 20.83% | 9.59% | 24.70% | -3.74% | 28.08% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
Correlation
The correlation between DIA and IEF is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.27 |
The correlation between DIA and IEF shifts across timeframes, from -0.27 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DIA vs. IEF — Risk / Return Rank
DIA
IEF
DIA vs. IEF - 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 7-10 Year Treasury Bond ETF (IEF). 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 | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.12 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 0.84 | +1.33 |
| Martin ratioReturn relative to average drawdown | 8.35 | 2.35 | +6.00 |
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Drawdowns
DIA vs. IEF - Drawdown Comparison
The maximum DIA drawdown since its inception was -51.87%, which is greater than IEF's maximum drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for DIA and IEF.
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Drawdown Indicators
| DIA | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.87% | -23.93% | -27.94% |
Max Drawdown (1Y)Largest decline over 1 year | -9.76% | -4.07% | -5.69% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -7.74% | -8.21% |
Max Drawdown (5Y)Largest decline over 5 years | -20.76% | -21.40% | +0.64% |
Max Drawdown (10Y)Largest decline over 10 years | -36.70% | -23.93% | -12.77% |
Current DrawdownCurrent decline from peak | -0.70% | -11.18% | +10.48% |
Average DrawdownAverage peak-to-trough decline | -7.14% | -5.35% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 1.45% | +1.08% |
Volatility
DIA vs. IEF - Volatility Comparison
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a higher volatility of 4.32% compared to iShares 7-10 Year Treasury Bond ETF (IEF) at 1.62%. This indicates that DIA's price experiences larger fluctuations and is considered to be riskier than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIA | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 1.62% | +2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 9.78% | 3.42% | +6.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.52% | 4.72% | +7.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.85% | 7.71% | +7.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.56% | 6.63% | +10.93% |
DIA vs. IEF - Expense Ratio Comparison
DIA has a 0.16% expense ratio, which is higher than IEF's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DIA vs. IEF - Dividend Comparison
DIA's dividend yield for the trailing twelve months is around 1.37%, less than IEF's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 1.37% | 1.43% | 1.61% | 1.81% | 1.91% | 1.58% | 1.87% | 1.85% | 2.24% | 1.97% | 2.26% | 2.33% |
IEF iShares 7-10 Year Treasury Bond ETF | 3.89% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
Frequently Asked Questions
DIA and IEF have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIA has higher volatility (4.32%) compared to IEF (1.62%). In terms of maximum drawdown, DIA dropped -51.87% vs IEF's -23.93%.
On 10-year performance, DIA leads with 13.40% vs 0.59% for IEF. On fees, IEF is cheaper at 0.15% per year. On volatility, IEF has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIA has performed better with a 13.40% return vs 0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEF is cheaper with a 0.15% expense ratio, compared with 0.16% for DIA.
IEF has the higher dividend yield at 3.89%, compared with 1.37% for DIA.
DIA is categorized as Large Cap Blend Equities, while IEF is Government Bonds. DIA tracks Dow Jones Industrial Average, while IEF tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.16% for DIA and 0.15% for IEF.
DIA currently has the higher Sharpe Ratio (1.69 vs 0.72), 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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