DIA vs. VFH

Last updated Jun 23, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and VFH (Vanguard Financials ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while VFH is a Financials Equities fund tracking the MSCI US Investable Market Financials 25/50 Index. Both are passively managed. Over the past 10 years, DIA returned 13.70%/yr vs 13.46%/yr for VFH. Their correlation of 0.82 suggests significant overlap in exposure. DIA charges 0.16%/yr vs 0.09%/yr for VFH.

Performance

DIA vs. VFH - 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 Vanguard Financials ETF (VFH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIA achieves a 8.40% return, which is significantly higher than VFH's -0.69% return. Both investments have delivered pretty close results over the past 10 years, with DIA having a 13.70% annualized return and VFH not far behind at 13.46%.

DIA

• 1D: 0.30%
• 1M: 2.44%
• YTD: 8.40%
• 6M: 7.75%
• 1Y: 24.46%
• 3Y*: 17.24%
• 5Y*: 10.75%
• 10Y*: 13.70%

VFH

• 1D: 0.54%
• 1M: 3.75%
• YTD: -0.69%
• 6M: -1.93%
• 1Y: 9.84%
• 3Y*: 20.85%
• 5Y*: 10.29%
• 10Y*: 13.46%

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

DIA vs. VFH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	8.40%	14.71%	14.82%	16.02%	-7.02%	20.83%	9.59%	24.70%	-3.74%	28.08%
VFH Vanguard Financials ETF	-0.69%	14.91%	30.44%	14.17%	-12.31%	35.22%	-1.96%	31.57%	-13.52%	19.99%

Correlation

The correlation between DIA and VFH 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	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.82

The correlation between DIA and VFH has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

DIA vs. VFH - Sectors Allocation Comparison

Sectors	DIA	VFH
Financial Services	27.3%	96.8%
Technology	19.1%	2.1%
Industrials	18.1%	0.2%
Healthcare	12.8%	0.1%
Consumer Cyclical	11.0%	0.0%
Consumer Defensive	4.1%	-
Basic Materials	3.7%	-
Energy	2.2%	-
Communication Services	1.8%	0.0%
Real Estate	-	0.8%
Utilities	-	-

Return for Risk

DIA vs. VFH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIA

DIA Risk / Return Rank: 59
DIA Sharpe Ratio Rank: 62
DIA Sortino Ratio Rank: 65
DIA Omega Ratio Rank: 59
DIA Calmar Ratio Rank: 52
DIA Martin Ratio Rank: 57

VFH

VFH Risk / Return Rank: 18
VFH Sharpe Ratio Rank: 19
VFH Sortino Ratio Rank: 18
VFH Omega Ratio Rank: 18
VFH Calmar Ratio Rank: 16
VFH Martin Ratio Rank: 16

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. VFH - 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 Vanguard Financials ETF (VFH). 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	VFH	Difference
Sharpe ratio: Return per unit of total volatility	1.98	0.66	+1.32
Sortino ratio: Return per unit of downside risk	2.87	0.99	+1.88
Omega ratio: Gain probability vs. loss probability	1.35	1.12	+0.23
Calmar ratio: Return relative to maximum drawdown	2.52	0.67	+1.85
Martin ratio: Return relative to average drawdown	9.72	1.74	+7.98

DIA vs. VFH - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.98, which is higher than the VFH Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of DIA and VFH, 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. VFH - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, smaller than the maximum VFH drawdown of -78.61%. Use the drawdown chart below to compare losses from any high point for DIA and VFH.

Drawdown Indicators

	DIA	VFH	Difference
Max Drawdown Largest peak-to-trough decline	-51.87%	-78.61%	+26.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-14.75%	+4.99%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	-17.30%	+1.35%
Max Drawdown (5Y) Largest decline over 5 years	-20.76%	-25.66%	+4.90%
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	-44.42%	+7.72%
Current Drawdown Current decline from peak	-0.57%	-3.71%	+3.14%
Average Drawdown Average peak-to-trough decline	-7.13%	-18.51%	+11.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	5.67%	-3.15%

Volatility

DIA vs. VFH - Volatility Comparison

State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) and Vanguard Financials ETF (VFH) have volatilities of 4.16% and 4.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIA	VFH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	4.19%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	11.41%	-1.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	14.98%	-2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	19.26%	-4.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.57%	22.56%	-4.99%

DIA vs. VFH - Expense Ratio Comparison

DIA has a 0.16% expense ratio, which is higher than VFH's 0.09% 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. VFH - Dividend Comparison

DIA's dividend yield for the trailing twelve months is around 1.39%, less than VFH's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.39%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
VFH Vanguard Financials ETF	1.47%	1.55%	1.75%	2.08%	2.31%	1.87%	2.21%	2.17%	2.30%	1.53%	1.63%	2.00%

Frequently Asked Questions

Can I hold both DIA and VFH in my portfolio?

DIA and VFH 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.

Which is riskier, DIA or VFH?

VFH has higher volatility (4.19%) compared to DIA (4.16%). In terms of maximum drawdown, DIA dropped -51.87% vs VFH's -78.61%.

Which ETF is better, DIA or VFH?

On 10-year performance, DIA leads with 13.70% vs 13.46% for VFH. On fees, VFH is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIA or VFH?

Over the 10-year period, DIA has performed better with a 13.70% return vs 13.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIA or VFH?

VFH is cheaper with a 0.09% expense ratio, compared with 0.16% for DIA.

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

VFH has the higher dividend yield at 1.47%, compared with 1.39% for DIA.

What is the main difference between DIA and VFH?

DIA is categorized as Large Cap Blend Equities, while VFH is Financials Equities. DIA tracks Dow Jones Industrial Average, while VFH tracks MSCI US Investable Market Financials 25/50 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.16% for DIA and 0.09% for VFH.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.98 vs 0.66), 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.