VTV vs. DIA

Last updated Jun 13, 2026

VTV (Vanguard Value ETF) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap 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, VTV returned 12.78%/yr vs 13.40%/yr for DIA. Their correlation of 0.92 suggests significant overlap in exposure. VTV charges 0.04%/yr vs 0.16%/yr for DIA.

Performance

VTV vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) 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, VTV achieves a 14.29% return, which is significantly higher than DIA's 7.27% return. Both investments have delivered pretty close results over the past 10 years, with VTV having a 12.78% annualized return and DIA not far ahead at 13.40%.

VTV

• 1D: 0.93%
• 1M: 4.18%
• YTD: 14.29%
• 6M: 13.99%
• 1Y: 26.89%
• 3Y*: 18.16%
• 5Y*: 11.76%
• 10Y*: 12.78%

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)

VTV vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTV Vanguard Value ETF	14.29%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%
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 VTV and DIA is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.92

The correlation between VTV and DIA has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

VTV vs. DIA - Sectors Allocation Comparison

Sectors	VTV	DIA
Financial Services	22.3%	27.2%
Healthcare	14.5%	13.1%
Industrials	14.0%	18.4%
Technology	13.4%	17.1%
Consumer Defensive	9.4%	4.4%
Energy	8.1%	2.4%
Utilities	5.2%	-
Consumer Cyclical	4.0%	11.6%
Communication Services	3.3%	1.9%
Basic Materials	3.1%	4.0%
Real Estate	2.8%	-

Return for Risk

VTV vs. DIA — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 88
VTV Sharpe Ratio Rank: 89
VTV Sortino Ratio Rank: 90
VTV Omega Ratio Rank: 87
VTV Calmar Ratio Rank: 87
VTV Martin Ratio Rank: 87

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.

VTV vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) 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.

	VTV	DIA	Difference
Sharpe ratio: Return per unit of total volatility	2.61	1.69	+0.92
Sortino ratio: Return per unit of downside risk	3.71	2.46	+1.25
Omega ratio: Gain probability vs. loss probability	1.47	1.30	+0.17
Calmar ratio: Return relative to maximum drawdown	4.25	2.16	+2.09
Martin ratio: Return relative to average drawdown	16.04	8.35	+7.69

VTV vs. DIA - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.61, which is higher than the DIA Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of VTV 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

VTV vs. DIA - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, which is greater than DIA's maximum drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for VTV and DIA.

Drawdown Indicators

	VTV	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-51.87%	-7.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-9.76%	+3.41%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-15.95%	+1.43%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-20.76%	+3.72%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	-36.70%	-0.08%
Current Drawdown Current decline from peak	0.00%	-0.70%	+0.70%
Average Drawdown Average peak-to-trough decline	-7.86%	-7.14%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	2.53%	-0.85%

Volatility

VTV vs. DIA - Volatility Comparison

The current volatility for Vanguard Value ETF (VTV) is 3.34%, while State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a volatility of 4.32%. This indicates that VTV 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

	VTV	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	4.32%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	9.78%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	10.38%	12.52%	-2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	14.85%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	17.56%	-0.88%

VTV vs. DIA - Expense Ratio Comparison

VTV has a 0.04% 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

VTV vs. DIA - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.83%, 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%
VTV Vanguard Value ETF	1.83%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both VTV and DIA in my portfolio?

VTV and DIA have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTV or DIA?

DIA has higher volatility (4.32%) compared to VTV (3.34%). In terms of maximum drawdown, VTV dropped -59.27% vs DIA's -51.87%.

Which ETF is better, VTV or DIA?

On 10-year performance, DIA leads with 13.40% vs 12.78% for VTV. On fees, VTV is cheaper at 0.04% per year. On volatility, VTV has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTV or DIA?

Over the 10-year period, DIA has performed better with a 13.40% return vs 12.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTV or DIA?

VTV is cheaper with a 0.04% expense ratio, compared with 0.16% for DIA.

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

VTV has the higher dividend yield at 1.83%, compared with 1.37% for DIA.

What is the main difference between VTV and DIA?

VTV is categorized as Large Cap Value Equities, while DIA is Large Cap Blend Equities. VTV tracks CRSP US Large Cap Value Index, while DIA tracks Dow Jones Industrial Average. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.04% for VTV and 0.16% for DIA.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.61 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.