XLE vs. DIA

Last updated Aug 6, 2026

XLE (State Street Energy Select Sector SPDR ETF) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector 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, XLE returned 9.80%/yr vs 13.51%/yr for DIA. Their 0.54 correlation means they have sometimes moved together and sometimes differently. XLE charges 0.08%/yr vs 0.16%/yr for DIA.

Performance

XLE vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Energy Select Sector SPDR ETF (XLE) 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, XLE achieves a 29.95% return, which is significantly higher than DIA's 13.83% return. Over the past 10 years, XLE has underperformed DIA with an annualized return of 9.80%, while DIA has yielded a comparatively higher 13.51% annualized return.

XLE

• 1D: -2.07%
• 1M: 7.87%
• 6M: 9.98%
• YTD: 29.95%
• 1Y: 38.22%
• 3Y*: 13.23%
• 5Y*: 22.66%
• 10Y*: 9.80%
• ALL TIME*: 8.71%

DIA

• 1D: 0.44%
• 1M: 2.43%
• 6M: 10.53%
• YTD: 13.83%
• 1Y: 24.90%
• 3Y*: 17.59%
• 5Y*: 10.96%
• 10Y*: 13.51%
• ALL TIME*: 9.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	$2.47B	$2.10B	$2.43B
XLE State Street Energy Select Sector SPDR ETF	$1.81B	$1.78B	$1.93B

XLE vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLE State Street Energy Select Sector SPDR ETF	29.95%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	13.83%	14.71%	14.82%	16.02%	-7.02%	20.83%	9.59%	24.70%	-3.74%	28.08%

Correlation

The correlation between XLE and DIA is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.11
Correlation (3Y) Balances recent behavior with more history.	0.22
Correlation (5Y) Shows whether the relationship held over a longer period.	0.35
Correlation (10Y) Provides a long-term view across more market conditions.	0.49
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998	0.54

The correlation between XLE and DIA shifts across timeframes, from -0.11 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

XLE vs. DIA - Sectors Allocation Comparison

Sectors	XLE	DIA
Energy	100.0%	1.9%
Basic Materials	-	3.9%
Communication Services	-	5.2%
Consumer Cyclical	-	10.3%
Consumer Defensive	-	3.9%
Financial Services	-	26.7%
Healthcare	-	13.2%
Industrials	-	18.9%
Real Estate	-	-
Technology	-	16.1%
Utilities	-	-

Return for Risk

XLE vs. DIA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XLE

XLE Risk / Return Rank: 61
XLE Sharpe Ratio Rank: 69
XLE Sortino Ratio Rank: 62
XLE Omega Ratio Rank: 59
XLE Calmar Ratio Rank: 64
XLE Martin Ratio Rank: 52

DIA

DIA Risk / Return Rank: 73
DIA Sharpe Ratio Rank: 77
DIA Sortino Ratio Rank: 79
DIA Omega Ratio Rank: 76
DIA Calmar Ratio Rank: 64
DIA Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XLE vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) 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.

	XLE	DIA	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.00	-0.18
Sortino ratio: Return per unit of downside risk	2.38	2.86	-0.48
Omega ratio: Gain probability vs. loss probability	1.30	1.36	-0.06
Calmar ratio: Return relative to maximum drawdown	2.56	2.56	0.00
Martin ratio: Return relative to average drawdown	6.80	9.92	-3.12

XLE vs. DIA - Sharpe Ratio Comparison

The current XLE Sharpe Ratio is 1.82, which is comparable to the DIA Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of XLE 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

XLE vs. DIA - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, which is greater than DIA's maximum drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for XLE and DIA.

Drawdown Indicators

	XLE	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-71.26%	-51.87%	-19.39%
Max Drawdown (1Y) Largest decline over 1 year	-14.98%	-9.76%	-5.22%
Max Drawdown (3Y) Largest decline over 3 years	-20.14%	-15.95%	-4.19%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-20.76%	-5.28%
Max Drawdown (10Y) Largest decline over 10 years	-66.81%	-36.70%	-30.11%
Current Drawdown Current decline from peak	-7.73%	0.00%	-7.73%
Average Drawdown Average peak-to-trough decline	-17.93%	-7.10%	-10.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	2.52%	+3.12%

Volatility

XLE vs. DIA - Volatility Comparison

State Street Energy Select Sector SPDR ETF (XLE) has a higher volatility of 6.16% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.16%. This indicates that XLE'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

	XLE	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	4.16%	+2.00%
Volatility (6M) Calculated over the trailing 6-month period	16.48%	9.99%	+6.49%
Volatility (1Y) Calculated over the trailing 1-year period	21.12%	12.53%	+8.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.76%	14.85%	+10.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.58%	17.54%	+12.04%

XLE vs. DIA - Expense Ratio Comparison

XLE has a 0.08% 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

XLE vs. DIA - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.65%, more than DIA's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.32%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
XLE State Street Energy Select Sector SPDR ETF	2.65%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both XLE and DIA in my portfolio?

XLE and DIA have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLE or DIA?

XLE has higher volatility (6.16%) compared to DIA (4.16%). In terms of maximum drawdown, XLE dropped -71.26% vs DIA's -51.87%.

Which ETF is better, XLE or DIA?

On 10-year performance, DIA leads with 13.51% vs 9.80% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, DIA has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLE or DIA?

Over the 10-year period, DIA has performed better with a 13.51% return vs 9.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLE or DIA?

XLE is cheaper with a 0.08% expense ratio, compared with 0.16% for DIA.

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

XLE has the higher dividend yield at 2.65%, compared with 1.32% for DIA.

What is the main difference between XLE and DIA?

XLE is categorized as Energy Equities, while DIA is Large Cap Blend Equities. XLE tracks Energy Select Sector Index, while DIA tracks Dow Jones Industrial Average. Their fees differ too: 0.08% for XLE and 0.16% for DIA.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (2.00 vs 1.82), 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.