DIA vs. XLU

Last updated Jun 4, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and XLU (State Street Utilities Select Sector SPDR ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. Both are passively managed. Over the past 10 years, DIA returned 13.21%/yr vs 9.15%/yr for XLU. At a 0.49 correlation, their price movements are largely independent. DIA charges 0.16%/yr vs 0.08%/yr for XLU.

Performance

DIA vs. XLU - 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 Utilities Select Sector SPDR ETF (XLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIA achieves a 6.26% return, which is significantly higher than XLU's 3.11% return. Over the past 10 years, DIA has outperformed XLU with an annualized return of 13.21%, while XLU has yielded a comparatively lower 9.15% annualized return.

DIA

• 1D: -1.13%
• 1M: 3.88%
• YTD: 6.26%
• 6M: 6.75%
• 1Y: 21.13%
• 3Y*: 16.45%
• 5Y*: 9.76%
• 10Y*: 13.21%

XLU

• 1D: -0.43%
• 1M: -5.74%
• YTD: 3.11%
• 6M: 1.25%
• 1Y: 9.11%
• 3Y*: 13.74%
• 5Y*: 9.25%
• 10Y*: 9.15%

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

DIA vs. XLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	6.26%	14.71%	14.82%	16.02%	-7.02%	20.83%	9.59%	24.70%	-3.74%	28.08%
XLU State Street Utilities Select Sector SPDR ETF	3.11%	16.03%	23.31%	-7.18%	1.44%	17.70%	0.51%	25.93%	3.94%	12.05%

Correlation

The correlation between DIA and XLU is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Dec 23, 1998	0.49

Over the past year, the correlation between DIA and XLU has dropped to 0.27 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

DIA vs. XLU - Sectors Allocation Comparison

Sectors	DIA	XLU
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	-	-
Utilities	-	100.0%

Return for Risk

DIA vs. XLU — Risk / Return Rank

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

DIA

DIA Risk / Return Rank: 48
DIA Sharpe Ratio Rank: 50
DIA Sortino Ratio Rank: 52
DIA Omega Ratio Rank: 49
DIA Calmar Ratio Rank: 43
DIA Martin Ratio Rank: 49

XLU

XLU Risk / Return Rank: 19
XLU Sharpe Ratio Rank: 19
XLU Sortino Ratio Rank: 18
XLU Omega Ratio Rank: 18
XLU Calmar Ratio Rank: 22
XLU Martin Ratio Rank: 19

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. XLU - 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 Utilities Select Sector SPDR ETF (XLU). 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.

	DIA	XLU	Difference
Sharpe ratio: Return per unit of total volatility	1.76	0.63	+1.13
Sortino ratio: Return per unit of downside risk	2.57	0.94	+1.62
Omega ratio: Gain probability vs. loss probability	1.31	1.12	+0.20
Calmar ratio: Return relative to maximum drawdown	2.18	1.00	+1.18
Martin ratio: Return relative to average drawdown	8.42	2.24	+6.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIA vs. XLU - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.76, which is higher than the XLU Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of DIA and XLU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DIA	XLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	0.63	+1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.54	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.48	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.40	+0.09

Drawdowns

DIA vs. XLU - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, roughly equal to the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for DIA and XLU.

Drawdown Indicators

	DIA	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-51.87%	-51.98%	+0.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-9.18%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	-17.26%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	-20.76%	-25.26%	+4.50%
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	-36.07%	-0.63%
Current Drawdown Current decline from peak	-1.13%	-7.78%	+6.65%
Average Drawdown Average peak-to-trough decline	-7.14%	-10.22%	+3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	4.09%	-1.57%

Volatility

DIA vs. XLU - Volatility Comparison

The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 2.97%, while State Street Utilities Select Sector SPDR ETF (XLU) has a volatility of 5.41%. This indicates that DIA experiences smaller price fluctuations and is considered to be less risky than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIA	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	5.41%	-2.44%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	11.53%	-2.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.10%	14.57%	-2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.78%	17.32%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	19.26%	-1.73%

DIA vs. XLU - Expense Ratio Comparison

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

DIA's dividend yield for the trailing twelve months is around 1.38%, less than XLU's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.38%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
XLU State Street Utilities Select Sector SPDR ETF	2.72%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Frequently Asked Questions

Can I hold both DIA and XLU in my portfolio?

DIA and XLU have a correlation of 0.27, 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 XLU?

XLU has higher volatility (5.41%) compared to DIA (2.97%). In terms of maximum drawdown, DIA dropped -51.87% vs XLU's -51.98%.

Which ETF is better, DIA or XLU?

On 10-year performance, DIA leads with 13.21% vs 9.15% for XLU. On fees, XLU is cheaper at 0.08% per year. On volatility, DIA has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIA or XLU?

Over the 10-year period, DIA has performed better with a 13.21% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIA or XLU?

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

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

XLU has the higher dividend yield at 2.72%, compared with 1.38% for DIA.

What is the main difference between DIA and XLU?

DIA is categorized as Large Cap Blend Equities, while XLU is Utilities Equities. DIA tracks Dow Jones Industrial Average, while XLU tracks Utilities Select Sector Index. Their fees differ too: 0.16% for DIA and 0.08% for XLU.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.76 vs 0.63), 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.