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DIA vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DIA vs. IJR

Last updated Jun 14, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, DIA returned 13.40%/yr vs 11.16%/yr for IJR. Their correlation of 0.80 suggests significant overlap in exposure. DIA charges 0.16%/yr vs 0.06%/yr for IJR.

Performance

DIA vs. IJR - 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 Core S&P Small-Cap ETF (IJR). 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 7.27% return, which is significantly lower than IJR's 19.73% return. Over the past 10 years, DIA has outperformed IJR with an annualized return of 13.40%, while IJR has yielded a comparatively lower 11.16% annualized return.

DIA

1D
0.73%
1M
2.50%
YTD
7.27%
6M
6.43%
1Y
23.20%
3Y*
16.29%
5Y*
10.14%
10Y*
13.40%

IJR

1D
0.97%
1M
5.53%
YTD
19.73%
6M
16.47%
1Y
37.01%
3Y*
14.75%
5Y*
6.25%
10Y*
11.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DIA vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IJR
iShares Core S&P Small-Cap ETF		19.73%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between DIA and IJR is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.81

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

0.79

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

0.82

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

0.79

Correlation (All Time)
Calculated using the full available price history since May 26, 2000

0.80

The correlation between DIA and IJR has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

DIA vs. IJR - Sectors Allocation Comparison

Sectors
DIA
IJR

Financial Services

27.3%
16.0%

Technology

19.1%
15.9%

Industrials

18.1%
16.0%

Healthcare

12.8%
11.0%

Consumer Cyclical

11.0%
12.5%

Consumer Defensive

4.1%
3.2%

Basic Materials

3.7%
4.7%

Energy

2.2%
6.8%

Communication Services

1.8%
3.2%

Real Estate

-

7.5%

Utilities

-

1.9%

Financial Services

DIA
27.3%
IJR
16.0%

Technology

DIA
19.1%
IJR
15.9%

Industrials

DIA
18.1%
IJR
16.0%

Healthcare

DIA
12.8%
IJR
11.0%

Consumer Cyclical

DIA
11.0%
IJR
12.5%

Consumer Defensive

DIA
4.1%
IJR
3.2%

Basic Materials

DIA
3.7%
IJR
4.7%

Energy

DIA
2.2%
IJR
6.8%

Communication Services

DIA
1.8%
IJR
3.2%

Real Estate

DIA

-

IJR
7.5%

Utilities

DIA

-

IJR
1.9%

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 Core S&P Small-Cap ETF

Often compared with DIA:
DIA vs. QQQDIA vs. SPYDIA vs. VOODIA vs. DJDDIA vs. SCHDDIA vs. IYYDIA vs. ^DJI
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJSIJR vs. IJHIJR vs. SCHAIJR vs. VBR

Return for Risk

DIA vs. IJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DIA
DIA Risk / Return Rank: 5555
Overall Rank
DIA Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
DIA Sortino Ratio Rank: 6060
Sortino Ratio Rank
DIA Omega Ratio Rank: 5555
Omega Ratio Rank
DIA Calmar Ratio Rank: 4949
Calmar Ratio Rank
DIA Martin Ratio Rank: 5555
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 7474
Overall Rank
IJR Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 7272
Sortino Ratio Rank
IJR Omega Ratio Rank: 6464
Omega Ratio Rank
IJR Calmar Ratio Rank: 8484
Calmar Ratio Rank
IJR Martin Ratio Rank: 7979
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. IJR - 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 Core S&P Small-Cap ETF (IJR). 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.

DIAIJRDifference
Sharpe ratioReturn per unit of total volatility
1.69
1.94

-0.26

Sortino ratioReturn per unit of downside risk
2.46
2.80

-0.34

Omega ratioGain probability vs. loss probability

1.30

1.33

-0.03

Calmar ratioReturn relative to maximum drawdown

2.16

3.97

-1.81

Martin ratioReturn relative to average drawdown

8.35

13.35

-5.00

DIA vs. IJR - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.69, which is comparable to the IJR Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of DIA and IJR, 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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Drawdowns

DIA vs. IJR - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, smaller than the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for DIA and IJR.

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Drawdown Indicators

DIAIJRDifference

Max Drawdown

Largest peak-to-trough decline

-51.87%

-58.15%

+6.28%

Max Drawdown (1Y)

Largest decline over 1 year

-9.76%

-8.68%

-1.08%

Max Drawdown (3Y)

Largest decline over 3 years

-15.95%

-28.02%

+12.07%

Max Drawdown (5Y)

Largest decline over 5 years

-20.76%

-28.02%

+7.26%

Max Drawdown (10Y)

Largest decline over 10 years

-36.70%

-44.36%

+7.66%

Current Drawdown

Current decline from peak

-0.70%

0.00%

-0.70%

Average Drawdown

Average peak-to-trough decline

-7.14%

-9.27%

+2.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

2.59%

-0.06%

Volatility

DIA vs. IJR - Volatility Comparison

The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 4.32%, while iShares Core S&P Small-Cap ETF (IJR) has a volatility of 5.18%. This indicates that DIA experiences smaller price fluctuations and is considered to be less risky than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DIAIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.32%

5.18%

-0.86%

Volatility (6M)

Calculated over the trailing 6-month period

9.78%

11.97%

-2.19%

Volatility (1Y)

Calculated over the trailing 1-year period

12.52%

17.76%

-5.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.85%

21.43%

-6.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.56%

22.92%

-5.36%

DIA vs. IJR - Expense Ratio Comparison

DIA has a 0.16% expense ratio, which is higher than IJR's 0.06% 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. IJR - Dividend Comparison

DIA's dividend yield for the trailing twelve months is around 1.37%, more than IJR's 1.11% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IJR
iShares Core S&P Small-Cap ETF		1.11%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%

Frequently Asked Questions

DIA and IJR have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IJR has higher volatility (5.18%) compared to DIA (4.32%). In terms of maximum drawdown, DIA dropped -51.87% vs IJR's -58.15%.

On 10-year performance, DIA leads with 13.40% vs 11.16% for IJR. On fees, IJR is cheaper at 0.06% per year. On volatility, DIA has been the lower-risk option at 4.32%. 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 11.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.16% for DIA.

DIA has the higher dividend yield at 1.37%, compared with 1.11% for IJR.

DIA is categorized as Large Cap Blend Equities, while IJR is Small Cap Blend Equities. DIA tracks Dow Jones Industrial Average, while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.16% for DIA and 0.06% for IJR.

IJR currently has the higher Sharpe Ratio (1.94 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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