IEUR vs. DIA

Last updated Jun 13, 2026

IEUR (iShares Core MSCI Europe ETF) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market 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, IEUR returned 10.11%/yr vs 13.40%/yr for DIA. A 0.73 correlation means they provide meaningful diversification when combined. IEUR charges 0.09%/yr vs 0.16%/yr for DIA.

Performance

IEUR vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Europe ETF (IEUR) 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

The year-to-date returns for both stocks are quite close, with IEUR having a 7.65% return and DIA slightly lower at 7.27%. Over the past 10 years, IEUR has underperformed DIA with an annualized return of 10.11%, while DIA has yielded a comparatively higher 13.40% annualized return.

IEUR

• 1D: 0.14%
• 1M: 2.28%
• YTD: 7.65%
• 6M: 9.78%
• 1Y: 17.30%
• 3Y*: 16.42%
• 5Y*: 8.26%
• 10Y*: 10.11%

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)

IEUR vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEUR iShares Core MSCI Europe ETF	7.65%	35.67%	1.40%	19.71%	-15.90%	16.71%	5.31%	24.95%	-14.86%	26.70%
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 IEUR and DIA is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.73

The correlation between IEUR and DIA has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.

IEUR vs. DIA - Sectors Allocation Comparison

Sectors	IEUR	DIA
Financial Services	22.5%	27.2%
Industrials	20.4%	18.4%
Healthcare	12.5%	13.1%
Technology	8.4%	17.1%
Consumer Defensive	8.0%	4.4%
Consumer Cyclical	6.9%	11.6%
Basic Materials	5.8%	4.0%
Energy	5.3%	2.4%
Utilities	4.8%	-
Communication Services	3.8%	1.9%
Real Estate	1.6%	-

Return for Risk

IEUR vs. DIA — Risk / Return Rank

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

IEUR

IEUR Risk / Return Rank: 35
IEUR Sharpe Ratio Rank: 35
IEUR Sortino Ratio Rank: 35
IEUR Omega Ratio Rank: 33
IEUR Calmar Ratio Rank: 33
IEUR Martin Ratio Rank: 39

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.

IEUR vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe ETF (IEUR) 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.

	IEUR	DIA	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.69	-0.59
Sortino ratio: Return per unit of downside risk	1.64	2.46	-0.82
Omega ratio: Gain probability vs. loss probability	1.20	1.30	-0.10
Calmar ratio: Return relative to maximum drawdown	1.44	2.16	-0.72
Martin ratio: Return relative to average drawdown	5.40	8.35	-2.95

IEUR vs. DIA - Sharpe Ratio Comparison

The current IEUR Sharpe Ratio is 1.10, which is lower than the DIA Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of IEUR 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

IEUR vs. DIA - Drawdown Comparison

The maximum IEUR drawdown since its inception was -36.96%, smaller than the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for IEUR and DIA.

Drawdown Indicators

	IEUR	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-36.96%	-51.87%	+14.91%
Max Drawdown (1Y) Largest decline over 1 year	-12.04%	-9.76%	-2.28%
Max Drawdown (3Y) Largest decline over 3 years	-14.25%	-15.95%	+1.70%
Max Drawdown (5Y) Largest decline over 5 years	-32.75%	-20.76%	-11.99%
Max Drawdown (10Y) Largest decline over 10 years	-36.96%	-36.70%	-0.26%
Current Drawdown Current decline from peak	-0.44%	-0.70%	+0.26%
Average Drawdown Average peak-to-trough decline	-8.21%	-7.14%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	2.53%	+0.69%

Volatility

IEUR vs. DIA - Volatility Comparison

iShares Core MSCI Europe ETF (IEUR) has a higher volatility of 5.70% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.32%. This indicates that IEUR'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

	IEUR	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	4.32%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	9.78%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	15.83%	12.52%	+3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	14.85%	+2.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	17.56%	+1.12%

IEUR vs. DIA - Expense Ratio Comparison

IEUR has a 0.09% expense ratio, which is lower than DIA's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IEUR vs. DIA - Dividend Comparison

IEUR's dividend yield for the trailing twelve months is around 2.76%, 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%
IEUR iShares Core MSCI Europe ETF	2.76%	2.97%	3.54%	3.17%	3.05%	2.88%	2.13%	3.26%	3.76%	2.64%	3.19%	2.79%

Frequently Asked Questions

Can I hold both IEUR and DIA in my portfolio?

IEUR and DIA have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEUR or DIA?

IEUR has higher volatility (5.70%) compared to DIA (4.32%). In terms of maximum drawdown, IEUR dropped -36.96% vs DIA's -51.87%.

Which ETF is better, IEUR or DIA?

On 10-year performance, DIA leads with 13.40% vs 10.11% for IEUR. On fees, IEUR is cheaper at 0.09% 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, IEUR or DIA?

Over the 10-year period, DIA has performed better with a 13.40% return vs 10.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEUR or DIA?

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

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

IEUR has the higher dividend yield at 2.76%, compared with 1.37% for DIA.

What is the main difference between IEUR and DIA?

IEUR is categorized as Europe Equities, while DIA is Large Cap Blend Equities. IEUR tracks MSCI Europe Investable Market Index, while DIA tracks Dow Jones Industrial Average. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for IEUR and 0.16% for DIA.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.69 vs 1.10), 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.