GQEPX vs. DIA

Last updated Jun 13, 2026

GQEPX (GQG Partners US Select Quality Equity Fund Investor Shares) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both funds - GQEPX is a Large Cap Growth Equities fund managed by GQG Partners Inc, while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Over the past 5 years, GQEPX returned 9.85%/yr vs 10.14%/yr for DIA. A 0.67 correlation means they provide meaningful diversification when combined. GQEPX charges 0.59%/yr vs 0.16%/yr for DIA.

Performance

GQEPX vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GQG Partners US Select Quality Equity Fund Investor Shares (GQEPX) 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, GQEPX achieves a 5.49% return, which is significantly lower than DIA's 7.27% return.

GQEPX

• 1D: -1.17%
• 1M: -1.40%
• YTD: 5.49%
• 6M: 5.97%
• 1Y: 4.02%
• 3Y*: 12.75%
• 5Y*: 9.85%
• 10Y*: —

DIA

• 1D: 0.73%
• 1M: 2.50%
• YTD: 7.27%
• 6M: 6.43%
• 1Y: 23.20%
• 3Y*: 16.29%
• 5Y*: 10.14%
• 10Y*: 13.40%

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

GQEPX vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GQEPX GQG Partners US Select Quality Equity Fund Investor Shares	5.49%	-4.52%	28.99%	17.39%	-2.81%	19.90%	23.65%	27.21%	-7.67%
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%	-12.47%

Correlation

The correlation between GQEPX and DIA is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018	0.67

Over the past year, the correlation between GQEPX and DIA has dropped to 0.15 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

GQEPX vs. DIA — Risk / Return Rank

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

GQEPX

GQEPX Risk / Return Rank: 8
GQEPX Sharpe Ratio Rank: 8
GQEPX Sortino Ratio Rank: 8
GQEPX Omega Ratio Rank: 8
GQEPX Calmar Ratio Rank: 10
GQEPX Martin Ratio Rank: 8

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.

GQEPX vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GQG Partners US Select Quality Equity Fund Investor Shares (GQEPX) 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.

	GQEPX	DIA	Difference
Sharpe ratio: Return per unit of total volatility	0.42	1.69	-1.26
Sortino ratio: Return per unit of downside risk	0.67	2.46	-1.79
Omega ratio: Gain probability vs. loss probability	1.08	1.30	-0.22
Calmar ratio: Return relative to maximum drawdown	0.63	2.16	-1.53
Martin ratio: Return relative to average drawdown	1.37	8.35	-6.98

GQEPX vs. DIA - Sharpe Ratio Comparison

The current GQEPX Sharpe Ratio is 0.42, which is lower than the DIA Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of GQEPX 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

GQEPX vs. DIA - Drawdown Comparison

The maximum GQEPX drawdown since its inception was -28.45%, smaller than the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for GQEPX and DIA.

Drawdown Indicators

	GQEPX	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-28.45%	-51.87%	+23.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-9.76%	+2.99%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-15.95%	-3.02%
Max Drawdown (5Y) Largest decline over 5 years	-20.49%	-20.76%	+0.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.70%	—
Current Drawdown Current decline from peak	-9.95%	-0.70%	-9.25%
Average Drawdown Average peak-to-trough decline	-5.82%	-7.14%	+1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	2.53%	+0.59%

Volatility

GQEPX vs. DIA - Volatility Comparison

The current volatility for GQG Partners US Select Quality Equity Fund Investor Shares (GQEPX) is 3.55%, while State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a volatility of 4.32%. This indicates that GQEPX experiences smaller price fluctuations and is considered to be less risky than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQEPX	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	4.32%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	7.78%	9.78%	-2.00%
Volatility (1Y) Calculated over the trailing 1-year period	10.16%	12.52%	-2.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.88%	14.85%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	17.56%	+1.14%

GQEPX vs. DIA - Expense Ratio Comparison

GQEPX has a 0.59% expense ratio, which is higher than DIA's 0.16% expense ratio.

Dividends

GQEPX vs. DIA - Dividend Comparison

GQEPX's dividend yield for the trailing twelve months is around 6.61%, 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%
GQEPX GQG Partners US Select Quality Equity Fund Investor Shares	6.61%	6.98%	5.30%	0.44%	4.46%	1.49%	0.61%	0.63%	0.09%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GQEPX and DIA in my portfolio?

GQEPX and DIA have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GQEPX or DIA?

DIA has higher volatility (4.32%) compared to GQEPX (3.55%). In terms of maximum drawdown, GQEPX dropped -28.45% vs DIA's -51.87%.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.69 vs 0.42), 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.