DIA vs. XLK

Last updated Aug 4, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, DIA returned 13.26%/yr vs 23.73%/yr for XLK. Their 0.74 correlation means they have sometimes moved together and sometimes differently. DIA charges 0.16%/yr vs 0.08%/yr for XLK.

Performance

DIA vs. XLK - 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 Technology Select Sector SPDR ETF (XLK). 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 lower than XLK's 23.97% return. Over the past 10 years, DIA has underperformed XLK with an annualized return of 13.26%, while XLK has yielded a comparatively higher 23.73% annualized return.

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%

XLK

• 1D: 1.53%
• 1M: -1.41%
• 6M: 22.86%
• YTD: 23.97%
• 1Y: 39.24%
• 3Y*: 28.50%
• 5Y*: 19.12%
• 10Y*: 23.73%
• ALL TIME*: 10.26%

*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
XLK State Street Technology Select Sector SPDR ETF	$1.65B	$1.63B	$2.23B

DIA vs. XLK - 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%
XLK State Street Technology Select Sector SPDR ETF	23.97%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%

Correlation

The correlation between DIA and XLK is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998	0.74

The correlation between DIA and XLK shifts across timeframes, from 0.54 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

DIA vs. XLK - Sectors Allocation Comparison

Sectors	DIA	XLK
Financial Services	26.7%	-
Industrials	18.9%	0.1%
Technology	16.1%	99.1%
Healthcare	13.2%	-
Consumer Cyclical	10.3%	-
Communication Services	5.2%	0.9%
Basic Materials	3.9%	-
Consumer Defensive	3.9%	-
Energy	1.9%	0.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

DIA vs. XLK — 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

XLK

XLK Risk / Return Rank: 62
XLK Sharpe Ratio Rank: 66
XLK Sortino Ratio Rank: 60
XLK Omega Ratio Rank: 60
XLK Calmar Ratio Rank: 70
XLK Martin Ratio Rank: 55

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. XLK - 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 Technology Select Sector SPDR ETF (XLK). 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	XLK	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.55	+0.37
Sortino ratio: Return per unit of downside risk	2.75	2.08	+0.67
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	2.45	2.48	-0.03
Martin ratio: Return relative to average drawdown	9.47	6.68	+2.79

DIA vs. XLK - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.91, which is comparable to the XLK Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of DIA and XLK, 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. XLK - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for DIA and XLK.

Drawdown Indicators

	DIA	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-51.87%	-82.05%	+30.18%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-15.92%	+6.16%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	-25.66%	+9.71%
Max Drawdown (5Y) Largest decline over 5 years	-20.76%	-33.56%	+12.80%
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	-33.56%	-3.14%
Current Drawdown Current decline from peak	0.00%	-10.07%	+10.07%
Average Drawdown Average peak-to-trough decline	-7.11%	-34.80%	+27.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	5.89%	-3.37%

Volatility

DIA vs. XLK - Volatility Comparison

The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 3.83%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 9.37%. This indicates that DIA experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIA	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	9.37%	-5.54%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	21.74%	-11.84%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	25.56%	-13.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	25.77%	-10.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.54%	24.91%	-7.37%

DIA vs. XLK - Expense Ratio Comparison

DIA has a 0.16% expense ratio, which is higher than XLK's 0.08% 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. XLK - Dividend Comparison

DIA's dividend yield for the trailing twelve months is around 1.35%, more than XLK's 0.45% 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%
XLK State Street Technology Select Sector SPDR ETF	0.45%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both DIA and XLK in my portfolio?

DIA and XLK have a correlation of 0.54, 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 XLK?

XLK has higher volatility (9.37%) compared to DIA (3.83%). In terms of maximum drawdown, DIA dropped -51.87% vs XLK's -82.05%.

Which ETF is better, DIA or XLK?

On 10-year performance, XLK leads with 23.73% vs 13.26% for DIA. On fees, XLK is cheaper at 0.08% per year. On volatility, DIA has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIA or XLK?

Over the 10-year period, XLK has performed better with a 23.73% 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 XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.16% for DIA.

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

DIA has the higher dividend yield at 1.35%, compared with 0.45% for XLK.

What is the main difference between DIA and XLK?

DIA is categorized as Large Cap Blend Equities, while XLK is Technology Equities. DIA tracks Dow Jones Industrial Average, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. Their fees differ too: 0.16% for DIA and 0.08% for XLK.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.91 vs 1.55), 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.