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ETF Comparison

DIA vs VOO: Which Is the Better Pick in 2026?

A head-to-head comparison of State Street SPDR Dow Jones Industrial Average ETF Trust and Vanguard S&P 500 ETF covering yield, cost, risk, and income potential.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • DIAInvestors who want the price-weighted Dow thirty rather than the cap-weighted S&P 500.
  • VOOInvestors who want the cap-weighted S&P 500 rather than the price-weighted Dow thirty.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

DIA has lagged VOO over the trailing twelve months, posting a 11.45% total return against 16.19%. The lead holds up over 10 years too: VOO has compounded at 15.39% a year, against 13.02% for DIA. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Sep 2010Volatility Sharpe Sortino Max drawdown
DIA6.30%11.45%16.92%10.03%13.02%12.73%13.7%0.821.20-16.0%
VOO12.52%16.19%22.89%13.48%15.39%14.87%14.9%1.091.58-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2010” measures every fund from September 9, 2010 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricDIAVOO
Full nameState Street SPDR Dow Jones Industrial Average ETF TrustVanguard S&P 500 ETF
IssuerState StreetVanguard
Underlying indexDow Jones Industrial AverageS&P 500 Index
Last Close$508.55 as of September 30, 2026$700.86 as of September 30, 2026
Distribution rate1.42%1.04%
Trailing 12-month yield1.42%1.06%
Distribution Safety Score™ 72100
Safety-Adjusted Yield 1.02%1.04%
Expense ratio0.16%0.03%
AUM$44.8B$1041B
Distribution frequencyMonthlyQuarterly
ObjectiveProvide exposure to the fund's underlying index or strategy per issuer materials.Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date01/14/199809/07/2010
Beta0.831.0
Last dividend$1.19242$1.8226 payable today
Ex-dividend date09/18/202609/28/2026

Bottom lineChoose DIA if you want the price-weighted Dow thirty rather than the cap-weighted S&P 500. Choose VOO if you want the cap-weighted S&P 500 rather than the price-weighted Dow thirty.

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

State Street
ETFs179
Total AUM$2148B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on DIA.

See all State Street ETFs
Vanguard
ETFs116
Total AUM$4677B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

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Quick verdict

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and VOO (Vanguard S&P 500 ETF) are both dividend ETFs, but they take different approaches.

DIA offers the higher yield at 1.42% vs 1.04% for VOO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.16%.

They have different reference exposures: DIA is linked to Dow Jones Industrial Average while VOO is linked to S&P 500 Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1041B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose DIA

State Street SPDR Dow Jones Industrial Average ETF Trust

  • Want the price-weighted Dow thirty — a higher share price, not a bigger company, earns a bigger weight.
  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 0.8 vs 1.0 for VOO.

Choose VOO

Vanguard S&P 500 ETF

  • Want the cap-weighted S&P 500 — five hundred names, weighted by company size.
  • Want simple, diversified core exposure as a portfolio building block.
  • Want to keep costs low — a 0.03% expense ratio vs 0.16% for DIA.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, DIA would generate roughly $11.83 cash per distribution, while VOO would produce $26.00 cash per distribution, at current distribution rates.

DIA yield1.42%
VOO yield1.04%
Cash diff on $10K$14.17

Cost & efficiency

Over 10 years on $10,000, DIA would cost approximately $160 in fees vs $30 for VOO (simplified, not compounded). The $130.00 difference may be offset by yield or performance.

DIA ER0.16%
VOO ER0.03%

Strategy & risk

DIA tracks Dow Jones Industrial Average with an index approach, while VOO tracks S&P 500 Index with a large cap approach. Beta is 0.83 for DIA and 1.0 for VOO, making DIA the less volatile of the two by this measure.

DIA beta0.83
VOO beta1.0

Fund details

DIA is managed by State Street (launched 01/14/1998) with $44.8B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1041B in assets.

DIA AUM$44.8B
VOO AUM$1041B
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Frequently asked questions

What is the current distribution rate for DIA and VOO?

DIA currently distributes 1.42% and VOO 1.04%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is DIA or VOO better for dividend income?

It depends on your goals. DIA currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between DIA and VOO?

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) tracks Dow Jones Industrial Average with an index approach, while VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index with a large cap approach. They are issued by State Street and Vanguard respectively.

Can I hold both DIA and VOO?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is DIA or VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, DIA scores 72, so VOO's payout currently looks the more resilient of the two. DIA has also shown lower price volatility (beta 0.83 vs 1.00 for VOO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, DIA or VOO?

DIA has an expense ratio of 0.16% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in DIA vs VOO generate?

At current rates, $10,000 in DIA would generate roughly $11.83 cash per distribution ($142.00 annually). The same in VOO would produce about $26.00 cash per distribution ($104.00 annually).

Which has performed better historically, DIA or VOO?

DIA has lagged VOO over the trailing twelve months, posting a 11.45% total return against 16.19%. The lead holds up over 10 years too: VOO has compounded at 15.39% a year, against 13.02% for DIA. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DIA vs VOO — at a glance

Generated September 26, 2026.

Overview

DIA and VOO are both large-cap U.S. equity ETFs tracking domestic blue-chip indexes, but they target different slices of the market. The key distinction: DIA is a narrower, concentration-heavy play on mega-cap industrial leaders; VOO is a broad-market holding spanning a wider range of large-cap sectors and market capitalizations.

How they differ

The most significant difference is index composition and diversification. DIA holds just 30 stocks (the Dow's constituent companies), while VOO holds 500, giving VOO far greater breadth across sectors and company sizes within the large-cap universe.

Second, DIA trades at a noticeably lower cost on a per-share basis but carries a higher expense ratio.

Third, DIA's asset base is substantially smaller at $44.8B compared to VOO's $1041B, reflecting DIA's narrower focus. DIA's beta of 0.83 also signals lower market sensitivity than VOO's 1.0, which is pegged to market-neutral, suggesting the Dow's 30 holdings behave somewhat less volatile than the broader S&P 500 as a whole.

Who each is best for

DIA: Fits investors seeking concentrated exposure to America's largest, most-established industrial and financial companies—those comfortable with 30-stock concentration in exchange for iconic blue-chip names and lower intraday volatility.

VOO: Designed for investors who want broad, market-weight large-cap exposure with minimal fees and maximum diversification across sectors, geographies of revenue, and company life cycles within the S&P 500 framework.

Key risks to know

  • Concentration risk in DIA. Holding 30 stocks creates material sector and idiosyncratic skew; a downturn in industrials, financials, or technology (which dominate the Dow) hits the fund disproportionately hard compared to a 500-stock index.
  • Growth-cap underweight in DIA. The Dow's selection criteria favor established dividend payers and lower price-to-earnings names; DIA inherently holds fewer high-growth companies than the broader S&P 500, creating style drift risk if growth outperforms value over your holding period.

Bottom line

If you want maximum diversification and the lowest long-term cost, VOO's broad S&P 500 exposure and 0.03% expense ratio make it the simpler core holding. If you prefer the intellectual clarity of owning the 30 blue-chip names in the Dow and accept narrower diversification in exchange, DIA's lower intraday volatility and monthly distributions appeal to a different investor temperament. Past performance doesn't guarantee future results; compare these funds' sector holdings and your own portfolio overlap before committing capital.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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These comparisons follow the Dividend Vision methodology.