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SHYG vs. DIA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SHYG vs. DIA

Last updated Jun 13, 2026

SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 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, SHYG returned 5.22%/yr vs 13.40%/yr for DIA. A 0.63 correlation means they provide meaningful diversification when combined. SHYG charges 0.30%/yr vs 0.16%/yr for DIA.

Performance

SHYG vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SHYG achieves a 1.72% return, which is significantly lower than DIA's 7.27% return. Over the past 10 years, SHYG has underperformed DIA with an annualized return of 5.22%, while DIA has yielded a comparatively higher 13.40% annualized return.

SHYG

1D
0.05%
1M
0.44%
YTD
1.72%
6M
2.29%
1Y
6.45%
3Y*
8.09%
5Y*
4.82%
10Y*
5.22%

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)

SHYG vs. DIA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SHYG
iShares 0-5 Year High Yield Corporate Bond ETF		1.72%7.94%8.17%10.38%-4.71%4.60%3.15%9.93%0.02%5.11%
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 SHYG and DIA is 0.71, 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

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.64

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.66

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2013

0.63

The correlation between SHYG and DIA has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.

SHYG vs. DIA - Sectors Allocation Comparison

Sectors
SHYG
DIA

Utilities

99.3%

-

Real Estate

0.7%

-

Basic Materials

-

4.0%

Communication Services

-

1.9%

Consumer Cyclical

-

11.6%

Consumer Defensive

-

4.4%

Energy

-

2.4%

Financial Services

-

27.2%

Healthcare

-

13.1%

Industrials

-

18.4%

Technology

-

17.1%

Utilities

SHYG
99.3%
DIA

-

Real Estate

SHYG
0.7%
DIA

-

Basic Materials

SHYG

-

DIA
4.0%

Communication Services

SHYG

-

DIA
1.9%

Consumer Cyclical

SHYG

-

DIA
11.6%

Consumer Defensive

SHYG

-

DIA
4.4%

Energy

SHYG

-

DIA
2.4%

Financial Services

SHYG

-

DIA
27.2%

Healthcare

SHYG

-

DIA
13.1%

Industrials

SHYG

-

DIA
18.4%

Technology

SHYG

-

DIA
17.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares 0-5 Year High Yield Corporate Bond ETF

State Street SPDR Dow Jones Industrial Average ETF Trust

Often compared with SHYG:
SHYG vs. HYGSHYG vs. SJNKSHYG vs. SPHYSHYG vs. SHYSHYG vs. SHYLSHYG vs. LQDSHYG vs. HYDB
Often compared with DIA:
DIA vs. QQQDIA vs. SPYDIA vs. VOODIA vs. DJDDIA vs. SCHDDIA vs. IYYDIA vs. ^DJI

Return for Risk

SHYG vs. DIA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SHYG
SHYG Risk / Return Rank: 8080
Overall Rank
SHYG Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SHYG Sortino Ratio Rank: 8181
Sortino Ratio Rank
SHYG Omega Ratio Rank: 7979
Omega Ratio Rank
SHYG Calmar Ratio Rank: 8181
Calmar Ratio Rank
SHYG Martin Ratio Rank: 8787
Martin Ratio Rank
DIA
DIA Risk / Return Rank: 5555
Overall Rank
DIA Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
DIA Sortino Ratio Rank: 6060
Sortino Ratio Rank
DIA Omega Ratio Rank: 5555
Omega Ratio Rank
DIA Calmar Ratio Rank: 4949
Calmar Ratio Rank
DIA Martin Ratio Rank: 5555
Martin Ratio Rank
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.

SHYG vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) 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.

SHYGDIADifference
Sharpe ratioReturn per unit of total volatility
2.02
1.69

+0.34

Sortino ratioReturn per unit of downside risk
3.11
2.46

+0.65

Omega ratioGain probability vs. loss probability

1.40

1.30

+0.11

Calmar ratioReturn relative to maximum drawdown

3.70

2.16

+1.54

Martin ratioReturn relative to average drawdown

16.02

8.35

+7.68

SHYG vs. DIA - Sharpe Ratio Comparison

The current SHYG Sharpe Ratio is 2.02, which is comparable to the DIA Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of SHYG 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.

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Drawdowns

SHYG vs. DIA - Drawdown Comparison

The maximum SHYG drawdown since its inception was -19.26%, smaller than the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for SHYG and DIA.

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Drawdown Indicators

SHYGDIADifference

Max Drawdown

Largest peak-to-trough decline

-19.26%

-51.87%

+32.61%

Max Drawdown (1Y)

Largest decline over 1 year

-1.75%

-9.76%

+8.01%

Max Drawdown (3Y)

Largest decline over 3 years

-4.53%

-15.95%

+11.42%

Max Drawdown (5Y)

Largest decline over 5 years

-9.39%

-20.76%

+11.37%

Max Drawdown (10Y)

Largest decline over 10 years

-19.26%

-36.70%

+17.44%

Current Drawdown

Current decline from peak

0.00%

-0.70%

+0.70%

Average Drawdown

Average peak-to-trough decline

-1.44%

-7.14%

+5.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.40%

2.53%

-2.13%

Volatility

SHYG vs. DIA - Volatility Comparison

The current volatility for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is 0.98%, while State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a volatility of 4.32%. This indicates that SHYG 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.

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Volatility by Period

SHYGDIADifference

Volatility (1M)

Calculated over the trailing 1-month period

0.98%

4.32%

-3.34%

Volatility (6M)

Calculated over the trailing 6-month period

2.55%

9.78%

-7.23%

Volatility (1Y)

Calculated over the trailing 1-year period

3.20%

12.52%

-9.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.73%

14.85%

-9.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.42%

17.56%

-11.14%

SHYG vs. DIA - Expense Ratio Comparison

SHYG has a 0.30% expense ratio, which is higher than DIA's 0.16% expense ratio.

Dividends

SHYG vs. DIA - Dividend Comparison

SHYG's dividend yield for the trailing twelve months is around 7.00%, more than DIA's 1.37% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SHYG
iShares 0-5 Year High Yield Corporate Bond ETF		7.00%7.03%6.93%6.54%5.57%4.83%5.07%5.33%5.90%5.49%5.53%5.17%

Frequently Asked Questions

SHYG and DIA have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DIA has higher volatility (4.32%) compared to SHYG (0.98%). In terms of maximum drawdown, SHYG dropped -19.26% vs DIA's -51.87%.

On 10-year performance, DIA leads with 13.40% vs 5.22% for SHYG. On fees, DIA is cheaper at 0.16% per year. On volatility, SHYG has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DIA has performed better with a 13.40% return vs 5.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DIA is cheaper with a 0.16% expense ratio, compared with 0.30% for SHYG.

SHYG has the higher dividend yield at 7.00%, compared with 1.37% for DIA.

SHYG is categorized as High Yield Bonds, while DIA is Large Cap Blend Equities. SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while DIA tracks Dow Jones Industrial Average. They also come from different issuers: iShares and State Street. Their fees differ too: 0.30% for SHYG and 0.16% for DIA.

SHYG currently has the higher Sharpe Ratio (2.02 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.

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