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DIA vs. SHYG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DIA vs. SHYG

Last updated Jun 13, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 Index. Both are passively managed. Over the past 10 years, DIA returned 13.40%/yr vs 5.22%/yr for SHYG. A 0.63 correlation means they provide meaningful diversification when combined. DIA charges 0.16%/yr vs 0.30%/yr for SHYG.

Performance

DIA vs. SHYG - 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 0-5 Year High Yield Corporate Bond ETF (SHYG). 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 higher than SHYG's 1.72% return. Over the past 10 years, DIA has outperformed SHYG with an annualized return of 13.40%, while SHYG has yielded a comparatively lower 5.22% 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%

SHYG

1D
0.05%
1M
0.44%
YTD
1.72%
6M
2.29%
1Y
6.45%
3Y*
8.09%
5Y*
4.82%
10Y*
5.22%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DIA vs. SHYG - 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%
SHYG
iShares 0-5 Year High Yield Corporate Bond ETF		1.72%7.94%8.17%10.38%-4.71%4.60%3.15%9.93%0.02%5.11%

Correlation

The correlation between DIA and SHYG is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.71

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

0.64

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

0.67

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

0.66

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2013

0.63

The correlation between DIA and SHYG has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.

DIA vs. SHYG - Sectors Allocation Comparison

Sectors
DIA
SHYG

Financial Services

27.2%

-

Industrials

18.4%

-

Technology

17.1%

-

Healthcare

13.1%

-

Consumer Cyclical

11.6%

-

Consumer Defensive

4.4%

-

Basic Materials

4.0%

-

Energy

2.4%

-

Communication Services

1.9%

-

Real Estate

-

0.7%

Utilities

-

99.3%

Financial Services

DIA
27.2%
SHYG

-

Industrials

DIA
18.4%
SHYG

-

Technology

DIA
17.1%
SHYG

-

Healthcare

DIA
13.1%
SHYG

-

Consumer Cyclical

DIA
11.6%
SHYG

-

Consumer Defensive

DIA
4.4%
SHYG

-

Basic Materials

DIA
4.0%
SHYG

-

Energy

DIA
2.4%
SHYG

-

Communication Services

DIA
1.9%
SHYG

-

Real Estate

DIA

-

SHYG
0.7%

Utilities

DIA

-

SHYG
99.3%

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 0-5 Year High Yield Corporate Bond ETF

Often compared with DIA:
DIA vs. QQQDIA vs. SPYDIA vs. VOODIA vs. DJDDIA vs. SCHDDIA vs. IYYDIA vs. ^DJI
Often compared with SHYG:
SHYG vs. HYGSHYG vs. SJNKSHYG vs. SPHYSHYG vs. SHYSHYG vs. SHYLSHYG vs. LQDSHYG vs. HYDB

Return for Risk

DIA vs. SHYG — 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
SHYG
SHYG Risk / Return Rank: 8080
Overall Rank
SHYG Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SHYG Sortino Ratio Rank: 8181
Sortino Ratio Rank
SHYG Omega Ratio Rank: 7979
Omega Ratio Rank
SHYG Calmar Ratio Rank: 8181
Calmar Ratio Rank
SHYG Martin Ratio Rank: 8787
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. SHYG - 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 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.

DIASHYGDifference
Sharpe ratioReturn per unit of total volatility
1.69
2.02

-0.34

Sortino ratioReturn per unit of downside risk
2.46
3.11

-0.65

Omega ratioGain probability vs. loss probability

1.30

1.40

-0.11

Calmar ratioReturn relative to maximum drawdown

2.16

3.70

-1.54

Martin ratioReturn relative to average drawdown

8.35

16.02

-7.68

DIA vs. SHYG - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.69, which is comparable to the SHYG Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of DIA and SHYG, 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. SHYG - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, which is greater than SHYG's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for DIA and SHYG.

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Drawdown Indicators

DIASHYGDifference

Max Drawdown

Largest peak-to-trough decline

-51.87%

-19.26%

-32.61%

Max Drawdown (1Y)

Largest decline over 1 year

-9.76%

-1.75%

-8.01%

Max Drawdown (3Y)

Largest decline over 3 years

-15.95%

-4.53%

-11.42%

Max Drawdown (5Y)

Largest decline over 5 years

-20.76%

-9.39%

-11.37%

Max Drawdown (10Y)

Largest decline over 10 years

-36.70%

-19.26%

-17.44%

Current Drawdown

Current decline from peak

-0.70%

0.00%

-0.70%

Average Drawdown

Average peak-to-trough decline

-7.14%

-1.44%

-5.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

0.40%

+2.13%

Volatility

DIA vs. SHYG - Volatility Comparison

State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a higher volatility of 4.32% compared to iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) at 0.98%. This indicates that DIA's price experiences larger fluctuations and is considered to be riskier than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DIASHYGDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.32%

0.98%

+3.34%

Volatility (6M)

Calculated over the trailing 6-month period

9.78%

2.55%

+7.23%

Volatility (1Y)

Calculated over the trailing 1-year period

12.52%

3.20%

+9.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.85%

5.73%

+9.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.56%

6.42%

+11.14%

DIA vs. SHYG - Expense Ratio Comparison

DIA has a 0.16% expense ratio, which is lower than SHYG's 0.30% expense ratio.

Dividends

DIA vs. SHYG - Dividend Comparison

DIA's dividend yield for the trailing twelve months is around 1.37%, less than SHYG's 7.00% 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%
SHYG
iShares 0-5 Year High Yield Corporate Bond ETF		7.00%7.03%6.93%6.54%5.57%4.83%5.07%5.33%5.90%5.49%5.53%5.17%

Frequently Asked Questions

DIA and SHYG have a correlation of 0.71, 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 SHYG (0.98%). In terms of maximum drawdown, DIA dropped -51.87% vs SHYG's -19.26%.

On 10-year performance, DIA leads with 13.40% vs 5.22% for SHYG. On fees, DIA is cheaper at 0.16% per year. On volatility, SHYG has been the lower-risk option at 0.98%. 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 5.22%. 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 0.30% for SHYG.

SHYG has the higher dividend yield at 7.00%, compared with 1.37% for DIA.

DIA is categorized as Large Cap Blend Equities, while SHYG is High Yield Bonds. DIA tracks Dow Jones Industrial Average, while SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.16% for DIA and 0.30% for SHYG.

SHYG currently has the higher Sharpe Ratio (2.02 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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