DIA vs. QUS

Last updated Aug 4, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and QUS (State Street SPDR MSCI USA StrategicFactors ETF) are both Large Cap Blend Equities funds from State Street - DIA tracks the Dow Jones Industrial Average while QUS tracks the MSCI USA Factor Mix A-Series Capped Index. Both are passively managed. Over the past 10 years, DIA returned 13.26%/yr vs 13.54%/yr for QUS. Their correlation of 0.84 means they have usually moved in the same direction. DIA charges 0.16%/yr vs 0.15%/yr for QUS.

Performance

DIA vs. QUS - 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 State Street SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIA achieves a 11.40% return, which is significantly higher than QUS's 10.23% return. Both investments have delivered pretty close results over the past 10 years, with DIA having a 13.26% annualized return and QUS not far ahead at 13.54%.

DIA

• 1D: 1.32%
• 1M: 0.66%
• 6M: 8.32%
• YTD: 11.40%
• 1Y: 23.76%
• 3Y*: 16.74%
• 5Y*: 10.75%
• 10Y*: 13.26%
• ALL TIME*: 9.21%

QUS

• 1D: 0.83%
• 1M: 1.29%
• 6M: 7.60%
• YTD: 10.23%
• 1Y: 19.80%
• 3Y*: 17.10%
• 5Y*: 10.91%
• 10Y*: 13.54%
• ALL TIME*: 12.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	$2.15B	$1.97B	$2.40B
QUS State Street SPDR MSCI USA StrategicFactors ETF	$3.01M	$4.81M	$3.43M

DIA vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	11.40%	14.71%	14.82%	16.02%	-7.02%	20.83%	9.59%	24.70%	-3.74%	28.08%
QUS State Street SPDR MSCI USA StrategicFactors ETF	10.23%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	21.67%

Correlation

The correlation between DIA and QUS is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015	0.84

The correlation between DIA and QUS has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

DIA vs. QUS - Sectors Allocation Comparison

Sectors	DIA	QUS
Financial Services	26.7%	15.7%
Industrials	18.9%	8.1%
Technology	16.1%	28.4%
Healthcare	13.2%	14.4%
Consumer Cyclical	10.3%	5.7%
Communication Services	5.2%	8.2%
Basic Materials	3.9%	2.2%
Consumer Defensive	3.9%	8.3%
Energy	1.9%	3.3%
Real Estate	-	1.6%
Utilities	-	3.9%

Return for Risk

DIA vs. QUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DIA

DIA Risk / Return Rank: 78
DIA Sharpe Ratio Rank: 81
DIA Sortino Ratio Rank: 83
DIA Omega Ratio Rank: 80
DIA Calmar Ratio Rank: 69
DIA Martin Ratio Rank: 75

QUS

QUS Risk / Return Rank: 85
QUS Sharpe Ratio Rank: 87
QUS Sortino Ratio Rank: 88
QUS Omega Ratio Rank: 86
QUS Calmar Ratio Rank: 78
QUS Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DIA vs. QUS - 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 State Street SPDR MSCI USA StrategicFactors ETF (QUS). 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	QUS	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.16	-0.25
Sortino ratio: Return per unit of downside risk	2.75	3.05	-0.31
Omega ratio: Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio: Return relative to maximum drawdown	2.45	2.90	-0.46
Martin ratio: Return relative to average drawdown	9.47	12.95	-3.48

DIA vs. QUS - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.91, which is comparable to the QUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of DIA and QUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DIA vs. QUS - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, which is greater than QUS's maximum drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for DIA and QUS.

Drawdown Indicators

	DIA	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-51.87%	-33.78%	-18.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-6.85%	-2.91%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	-13.94%	-2.01%
Max Drawdown (5Y) Largest decline over 5 years	-20.76%	-22.30%	+1.54%
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	-33.78%	-2.92%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.11%	-3.66%	-3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	1.53%	+0.99%

Volatility

DIA vs. QUS - Volatility Comparison

State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a higher volatility of 3.83% compared to State Street SPDR MSCI USA StrategicFactors ETF (QUS) at 2.42%. This indicates that DIA's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIA	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	2.42%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	6.97%	+2.93%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	9.22%	+3.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	14.32%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.54%	16.40%	+1.14%

DIA vs. QUS - Expense Ratio Comparison

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

DIA's dividend yield for the trailing twelve months is around 1.35%, more than QUS's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.35%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
QUS State Street SPDR MSCI USA StrategicFactors ETF	1.27%	1.38%	1.49%	1.57%	1.68%	1.27%	1.73%	1.81%	2.12%	1.86%	2.07%	1.48%

Frequently Asked Questions

Can I hold both DIA and QUS in my portfolio?

DIA and QUS have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIA or QUS?

DIA has higher volatility (3.83%) compared to QUS (2.42%). In terms of maximum drawdown, DIA dropped -51.87% vs QUS's -33.78%.

Which ETF is better, DIA or QUS?

On 10-year performance, QUS leads with 13.54% vs 13.26% for DIA. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIA or QUS?

Over the 10-year period, QUS has performed better with a 13.54% return vs 13.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIA or QUS?

QUS is cheaper with a 0.15% expense ratio, compared with 0.16% for DIA.

Which ETF pays a higher dividend yield, DIA or QUS?

DIA has the higher dividend yield at 1.35%, compared with 1.27% for QUS.

What is the main difference between DIA and QUS?

DIA tracks Dow Jones Industrial Average, while QUS tracks MSCI USA Factor Mix A-Series Capped Index. Their fees differ too: 0.16% for DIA and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (2.16 vs 1.91), 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.