NVMI vs. DIA

Last updated Jun 24, 2026

NVMI (Nova Ltd) is a stock, while DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) is Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Over the past 10 years, NVMI returned 47.04%/yr vs 13.69%/yr for DIA. At a 0.30 correlation, their price movements are largely independent.

Performance

NVMI vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nova Ltd (NVMI) 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, NVMI achieves a 60.75% return, which is significantly higher than DIA's 8.31% return. Over the past 10 years, NVMI has outperformed DIA with an annualized return of 47.04%, while DIA has yielded a comparatively lower 13.69% annualized return.

NVMI

• 1D: -9.47%
• 1M: 4.84%
• YTD: 60.75%
• 6M: 58.07%
• 1Y: 125.49%
• 3Y*: 67.33%
• 5Y*: 38.83%
• 10Y*: 47.04%

DIA

• 1D: -0.09%
• 1M: 2.35%
• YTD: 8.31%
• 6M: 7.49%
• 1Y: 23.20%
• 3Y*: 17.21%
• 5Y*: 10.52%
• 10Y*: 13.69%

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

NVMI vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NVMI Nova Ltd	60.75%	66.74%	43.35%	68.21%	-44.25%	107.51%	86.62%	66.07%	-12.08%	96.88%
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	8.31%	14.71%	14.82%	16.02%	-7.02%	20.83%	9.59%	24.70%	-3.74%	28.08%

Correlation

The correlation between NVMI and DIA is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Apr 11, 2000	0.30

The correlation between NVMI and DIA shifts across timeframes, from 0.30 (all time) to 0.45 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NVMI vs. DIA — Risk / Return Rank

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

NVMI

NVMI Risk / Return Rank: 89
NVMI Sharpe Ratio Rank: 91
NVMI Sortino Ratio Rank: 84
NVMI Omega Ratio Rank: 84
NVMI Calmar Ratio Rank: 94
NVMI Martin Ratio Rank: 93

DIA

DIA Risk / Return Rank: 56
DIA Sharpe Ratio Rank: 58
DIA Sortino Ratio Rank: 60
DIA Omega Ratio Rank: 55
DIA Calmar Ratio Rank: 50
DIA Martin Ratio Rank: 54

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.

NVMI vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nova Ltd (NVMI) 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.

	NVMI	DIA	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.88	+0.40
Sortino ratio: Return per unit of downside risk	2.54	2.74	-0.20
Omega ratio: Gain probability vs. loss probability	1.34	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	5.85	2.39	+3.47
Martin ratio: Return relative to average drawdown	15.48	9.22	+6.26

NVMI vs. DIA - Sharpe Ratio Comparison

The current NVMI Sharpe Ratio is 2.28, which is comparable to the DIA Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of NVMI 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

NVMI vs. DIA - Drawdown Comparison

The maximum NVMI drawdown since its inception was -98.22%, which is greater than DIA's maximum drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for NVMI and DIA.

Drawdown Indicators

	NVMI	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-98.22%	-51.87%	-46.35%
Max Drawdown (1Y) Largest decline over 1 year	-21.56%	-9.76%	-11.80%
Max Drawdown (3Y) Largest decline over 3 years	-40.79%	-15.95%	-24.84%
Max Drawdown (5Y) Largest decline over 5 years	-52.76%	-20.76%	-32.00%
Max Drawdown (10Y) Largest decline over 10 years	-52.76%	-36.70%	-16.06%
Current Drawdown Current decline from peak	-12.84%	-0.65%	-12.19%
Average Drawdown Average peak-to-trough decline	-51.71%	-7.13%	-44.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.14%	2.52%	+5.62%

Volatility

NVMI vs. DIA - Volatility Comparison

Nova Ltd (NVMI) has a higher volatility of 24.62% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.15%. This indicates that NVMI'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

	NVMI	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.62%	4.15%	+20.47%
Volatility (6M) Calculated over the trailing 6-month period	43.40%	9.76%	+33.64%
Volatility (1Y) Calculated over the trailing 1-year period	55.40%	12.42%	+42.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.95%	14.84%	+33.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.66%	17.53%	+26.13%

Dividends

NVMI vs. DIA - Dividend Comparison

NVMI has not paid dividends to shareholders, while DIA's dividend yield for the trailing twelve months is around 1.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.40%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
NVMI Nova Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVMI and DIA in my portfolio?

NVMI and DIA have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVMI or DIA?

NVMI has higher volatility (24.62%) compared to DIA (4.15%). In terms of maximum drawdown, NVMI dropped -98.22% vs DIA's -51.87%.

Which has better risk-adjusted returns?

NVMI currently has the higher Sharpe Ratio (2.28 vs 1.88), 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.