XLK vs. DIA

Last updated Aug 5, 2026

XLK (State Street Technology Select Sector SPDR ETF) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 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, XLK returned 24.33%/yr vs 13.46%/yr for DIA. Their 0.74 correlation means they have sometimes moved together and sometimes differently. XLK charges 0.08%/yr vs 0.16%/yr for DIA.

Performance

XLK vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Technology Select Sector SPDR ETF (XLK) 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, XLK achieves a 30.13% return, which is significantly higher than DIA's 13.33% return. Over the past 10 years, XLK has outperformed DIA with an annualized return of 24.33%, while DIA has yielded a comparatively lower 13.46% annualized return.

XLK

• 1D: 4.98%
• 1M: 3.49%
• 6M: 31.87%
• YTD: 30.13%
• 1Y: 43.26%
• 3Y*: 30.60%
• 5Y*: 20.15%
• 10Y*: 24.33%
• ALL TIME*: 10.46%

DIA

• 1D: 1.73%
• 1M: 2.41%
• 6M: 10.59%
• YTD: 13.33%
• 1Y: 24.17%
• 3Y*: 17.41%
• 5Y*: 10.96%
• 10Y*: 13.46%
• ALL TIME*: 9.28%

*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	$2.36B	$2.05B	$2.43B
XLK State Street Technology Select Sector SPDR ETF	$1.76B	$1.67B	$2.24B

XLK vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLK State Street Technology Select Sector SPDR ETF	30.13%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	49.86%	-1.68%	34.26%
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	13.33%	14.71%	14.82%	16.02%	-7.02%	20.83%	9.59%	24.70%	-3.74%	28.08%

Correlation

The correlation between XLK and DIA is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998	0.74

The correlation between XLK and DIA shifts across timeframes, from 0.54 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

XLK vs. DIA - Sectors Allocation Comparison

Sectors	XLK	DIA
Technology	99.1%	16.1%
Communication Services	0.9%	5.2%
Energy	0.2%	1.9%
Industrials	0.1%	18.9%
Basic Materials	-	3.9%
Consumer Cyclical	-	10.3%
Consumer Defensive	-	3.9%
Financial Services	-	26.7%
Healthcare	-	13.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

XLK vs. DIA — Risk / Return Rank

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

XLK

XLK Risk / Return Rank: 61
XLK Sharpe Ratio Rank: 64
XLK Sortino Ratio Rank: 58
XLK Omega Ratio Rank: 58
XLK Calmar Ratio Rank: 70
XLK Martin Ratio Rank: 56

DIA

DIA Risk / Return Rank: 72
DIA Sharpe Ratio Rank: 76
DIA Sortino Ratio Rank: 77
DIA Omega Ratio Rank: 76
DIA Calmar Ratio Rank: 64
DIA Martin Ratio Rank: 70

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.

XLK vs. DIA - Risk-Adjusted Trends Comparison

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

	XLK	DIA	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.94	-0.26
Sortino ratio: Return per unit of downside risk	2.25	2.79	-0.54
Omega ratio: Gain probability vs. loss probability	1.28	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.73	2.49	+0.24
Martin ratio: Return relative to average drawdown	7.35	9.63	-2.28

XLK vs. DIA - Sharpe Ratio Comparison

The current XLK Sharpe Ratio is 1.68, which is comparable to the DIA Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of XLK 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

XLK vs. DIA - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, which is greater than DIA's maximum drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for XLK and DIA.

Drawdown Indicators

	XLK	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-82.05%	-51.87%	-30.18%
Max Drawdown (1Y) Largest decline over 1 year	-15.92%	-9.76%	-6.16%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-15.95%	-9.71%
Max Drawdown (5Y) Largest decline over 5 years	-33.56%	-20.76%	-12.80%
Max Drawdown (10Y) Largest decline over 10 years	-33.56%	-36.70%	+3.14%
Current Drawdown Current decline from peak	-5.59%	0.00%	-5.59%
Average Drawdown Average peak-to-trough decline	-34.79%	-7.10%	-27.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.90%	2.52%	+3.38%

Volatility

XLK vs. DIA - Volatility Comparison

State Street Technology Select Sector SPDR ETF (XLK) has a higher volatility of 10.47% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.17%. This indicates that XLK'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

	XLK	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.47%	4.17%	+6.30%
Volatility (6M) Calculated over the trailing 6-month period	22.23%	9.99%	+12.24%
Volatility (1Y) Calculated over the trailing 1-year period	25.96%	12.59%	+13.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.86%	14.86%	+11.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.96%	17.55%	+7.41%

XLK vs. DIA - Expense Ratio Comparison

XLK 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

XLK vs. DIA - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.42%, less than DIA's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.33%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
XLK State Street Technology Select Sector SPDR ETF	0.42%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both XLK and DIA in my portfolio?

XLK and DIA have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLK or DIA?

XLK has higher volatility (10.47%) compared to DIA (4.17%). In terms of maximum drawdown, XLK dropped -82.05% vs DIA's -51.87%.

Which ETF is better, XLK or DIA?

On 10-year performance, XLK leads with 24.33% vs 13.46% for DIA. On fees, XLK is cheaper at 0.08% per year. On volatility, DIA has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLK or DIA?

Over the 10-year period, XLK has performed better with a 24.33% return vs 13.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLK or DIA?

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

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

DIA has the higher dividend yield at 1.33%, compared with 0.42% for XLK.

What is the main difference between XLK and DIA?

XLK is categorized as Technology Equities, while DIA is Large Cap Blend Equities. XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index, while DIA tracks Dow Jones Industrial Average. Their fees differ too: 0.08% for XLK and 0.16% for DIA.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.94 vs 1.68), 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.