EFV vs. DIA

Last updated Jun 13, 2026

EFV (iShares MSCI EAFE Value ETF) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index, while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Both are passively managed. Over the past 10 years, EFV returned 10.55%/yr vs 13.40%/yr for DIA. A 0.77 correlation means they provide meaningful diversification when combined. EFV charges 0.39%/yr vs 0.16%/yr for DIA.

Performance

EFV vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Value ETF (EFV) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFV achieves a 10.56% return, which is significantly higher than DIA's 7.27% return. Over the past 10 years, EFV has underperformed DIA with an annualized return of 10.55%, while DIA has yielded a comparatively higher 13.40% annualized return.

EFV

• 1D: 0.48%
• 1M: 0.52%
• YTD: 10.56%
• 6M: 12.39%
• 1Y: 27.62%
• 3Y*: 21.79%
• 5Y*: 12.36%
• 10Y*: 10.55%

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%

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

EFV vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFV iShares MSCI EAFE Value ETF	10.56%	42.22%	5.35%	18.85%	-5.22%	11.08%	-2.97%	15.80%	-14.67%	21.22%
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%

Correlation

The correlation between EFV and DIA is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 5, 2005	0.77

The correlation between EFV and DIA shifts across timeframes, from 0.62 (3 years) to 0.77 (all time), reflecting how their relationship changes across market environments.

EFV vs. DIA - Sectors Allocation Comparison

Sectors	EFV	DIA
Financial Services	37.3%	27.2%
Industrials	9.6%	18.4%
Consumer Defensive	9.5%	4.4%
Healthcare	7.4%	13.1%
Energy	6.8%	2.4%
Basic Materials	6.5%	4.0%
Consumer Cyclical	6.0%	11.6%
Utilities	5.7%	-
Communication Services	4.4%	1.9%
Technology	3.2%	17.1%
Real Estate	2.7%	-

Return for Risk

EFV vs. DIA — Risk / Return Rank

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

EFV

EFV Risk / Return Rank: 64
EFV Sharpe Ratio Rank: 67
EFV Sortino Ratio Rank: 67
EFV Omega Ratio Rank: 66
EFV Calmar Ratio Rank: 58
EFV Martin Ratio Rank: 60

DIA

DIA Risk / Return Rank: 55
DIA Sharpe Ratio Rank: 57
DIA Sortino Ratio Rank: 60
DIA Omega Ratio Rank: 55
DIA Calmar Ratio Rank: 49
DIA Martin Ratio Rank: 55

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.

EFV vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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.

	EFV	DIA	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.69	+0.22
Sortino ratio: Return per unit of downside risk	2.65	2.46	+0.19
Omega ratio: Gain probability vs. loss probability	1.34	1.30	+0.04
Calmar ratio: Return relative to maximum drawdown	2.55	2.16	+0.38
Martin ratio: Return relative to average drawdown	9.40	8.35	+1.05

EFV vs. DIA - Sharpe Ratio Comparison

The current EFV Sharpe Ratio is 1.90, which is comparable to the DIA Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of EFV and DIA, 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

EFV vs. DIA - Drawdown Comparison

The maximum EFV drawdown since its inception was -63.94%, which is greater than DIA's maximum drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for EFV and DIA.

Drawdown Indicators

	EFV	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-63.94%	-51.87%	-12.07%
Max Drawdown (1Y) Largest decline over 1 year	-10.90%	-9.76%	-1.14%
Max Drawdown (3Y) Largest decline over 3 years	-13.72%	-15.95%	+2.23%
Max Drawdown (5Y) Largest decline over 5 years	-25.84%	-20.76%	-5.08%
Max Drawdown (10Y) Largest decline over 10 years	-43.16%	-36.70%	-6.46%
Current Drawdown Current decline from peak	-1.24%	-0.70%	-0.54%
Average Drawdown Average peak-to-trough decline	-14.81%	-7.14%	-7.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	2.53%	+0.43%

Volatility

EFV vs. DIA - Volatility Comparison

iShares MSCI EAFE Value ETF (EFV) has a higher volatility of 4.62% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.32%. This indicates that EFV's price experiences larger fluctuations and is considered to be riskier than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFV	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	4.32%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	9.78%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	12.52%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	14.85%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.85%	17.56%	+0.29%

EFV vs. DIA - Expense Ratio Comparison

EFV has a 0.39% expense ratio, which is higher than DIA's 0.16% expense ratio.

Dividends

EFV vs. DIA - Dividend Comparison

EFV's dividend yield for the trailing twelve months is around 3.76%, more than DIA's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.37%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
EFV iShares MSCI EAFE Value ETF	3.76%	4.16%	4.66%	4.36%	4.17%	4.07%	2.42%	4.62%	4.56%	3.56%	3.28%	3.59%

Frequently Asked Questions

Can I hold both EFV and DIA in my portfolio?

EFV and DIA have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFV or DIA?

EFV has higher volatility (4.62%) compared to DIA (4.32%). In terms of maximum drawdown, EFV dropped -63.94% vs DIA's -51.87%.

Which ETF is better, EFV or DIA?

On 10-year performance, DIA leads with 13.40% vs 10.55% for EFV. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFV or DIA?

Over the 10-year period, DIA has performed better with a 13.40% return vs 10.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFV or DIA?

DIA is cheaper with a 0.16% expense ratio, compared with 0.39% for EFV.

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

EFV has the higher dividend yield at 3.76%, compared with 1.37% for DIA.

What is the main difference between EFV and DIA?

EFV is categorized as Foreign Large Cap Equities, while DIA is Large Cap Blend Equities. EFV tracks MSCI EAFE Value Index, while DIA tracks Dow Jones Industrial Average. They also come from different issuers: iShares and State Street. Their fees differ too: 0.39% for EFV and 0.16% for DIA.

Which has better risk-adjusted returns?

EFV currently has the higher Sharpe Ratio (1.90 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.