Benchmark research · Dow Jones Industrial Average
ETFs and Stocks That Consistently Outperformed DIA (Dow Jones Industrial Average)
Any investment can look great over a single hand-picked timeframe. To find what truly kept ahead of DIA (State Street SPDR Dow Jones Industrial Average ETF Trust), we screened DIA against the entire market of over 10,000 stocks and ETFs across 8 different time windows from 1 month to 10 years, including reinvested dividends. A contender had to come out ahead in both the short term and the long term to make the list. Data as of October 22, 2026.
Compare the entire market against DIA live →Key findings
- How hard it was to top DIA: The benchmark was not easy to top. Of 957 eligible ETFs, 118, or 12%, outperformed in a majority of the short-term and long-term periods; 36 were all-weather. Of 1,502 eligible stocks, 295, or 20%, cleared that bar, and 116 were all-weather.
- Who came out ahead across the three groups:
- Popular alternatives: VOO, IVV, and SPY each outperformed in 4 of 5 short-term periods and 3 of 3 long-term periods. XLK reached 3 of 5 short-term and 3 of 3 long-term periods, while JPM and QQQ each managed 2 of 5 short-term and 3 of 3 long-term periods, so they fell short of the consistency rule. No same-index funds were excluded.
- Top ETFs: Broad-market funds and technology were the leading categories among the top ETFs. Standouts include BNO, a commodities fund, and broad-market funds WTV, RWL, and QUS. The displayed leaders include funds that outperformed across all short-term and long-term periods.
- Top stocks: 295 stocks made the cut. The displayed leaders include healthcare stocks NTRA, MEDP, and LLY, along with consumer staples company COKE. Healthcare and energy are both represented among these leading stocks.
- The risk trade-off: Over 5 years, the top ETFs had median volatility of 26.1%, compared with 14.8% for DIA, while the top stocks had median volatility of 42.4%. Most still delivered a higher Sharpe ratio, a measure of return per unit of risk: 12 of 15 top ETFs and 9 of 10 top stocks, compared with DIA's 0.72.
How popular alternatives compare
Well-known funds and stocks investors often compare against DIA, sorted by long-term periods outperformed, then short-term.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | ||
| DIA State Street SPDR Dow Jones Industrial Average ETF Trust (benchmark) | — | +1.9% | +1.6% | +7.4% | +10.4% | +15.0% | +68.1% | +61.3% | +251% | 14.8% | 0.72 |
| VOO Made the listVanguard S&P 500 ETF | 4/5 short3/3 longAll-weather | −1.2% | +2.5% | +8.0% | +12.7% | +15.7% | +88.8% | +80.8% | +319% | 16.9%1.1× DIA | 0.79 |
| IVV Made the listiShares Core S&P 500 ETF | 4/5 short3/3 longAll-weather | −1.2% | +2.5% | +8.0% | +12.8% | +15.7% | +88.8% | +80.8% | +319% | 17.0%1.1× DIA | 0.79 |
| SPY Made the listState Street SPDR S&P 500 ETF | 4/5 short3/3 longAll-weather | −1.2% | +2.5% | +8.0% | +12.7% | +15.6% | +88.4% | +80.3% | +316% | 17.2%1.2× DIA | 0.78 |
| XLK Made the listState Street Technology Select Sector SPDR ETF | 3/5 short3/3 long | −7.1% | +1.3% | +15.6% | +26.8% | +28.4% | +126% | +139% | +741% | 26.1%1.8× DIA | 0.80 |
| JPM Fell shortJPMorgan Chase & Co. | 2/5 short3/3 long | −0.5% | −2.9% | +8.5% | +5.4% | +16.6% | +154% | +122% | +534% | 24.3%1.6× DIA | 0.78 |
| QQQ Fell shortInvesco QQQ Trust, Series 1 | 2/5 short3/3 long | −5.8% | 0.0% | +7.8% | +15.3% | +16.9% | +101% | +94.0% | +531% | 23.0%1.6× DIA | 0.69 |
| GS Fell shortThe Goldman Sachs Group, Inc. | 1/5 short3/3 long | −6.1% | −18.4% | −3.8% | −1.1% | +22.1% | +218% | +143% | +524% | 28.6%1.9× DIA | 0.77 |
| VTI Fell shortVanguard Morningstar Total Stock Market ETF | 1/5 short3/3 long | −1.4% | +1.9% | +7.3% | +12.4% | +15.3% | +87.3% | +71.5% | +298% | 17.5%1.2× DIA | 0.71 |
| MSFT Made the listMicrosoft Corporation | 4/5 short2/3 long | +4.6% | +33.7% | +20.9% | +10.9% | +0.9% | +61.9% | +75.6% | +862% | 28.2%1.9× DIA | 0.54 |
| VYM Made the listVanguard High Dividend Yield ETF | 3/5 short2/3 long | +2.5% | +1.2% | +6.3% | +14.3% | +18.5% | +75.9% | +72.8% | +209% | 13.8%0.9× DIA | 0.87 |
| XLI Fell shortState Street Industrial Select Sector SPDR ETF | 0/5 short2/3 long | −2.1% | −6.5% | −2.0% | +6.4% | +10.3% | +76.9% | +71.5% | +246% | 17.6%1.2× DIA | 0.70 |
| SCHD Fell shortSchwab U.S. Dividend Equity ETF | 5/5 short1/3 long | +5.8% | +8.5% | +16.0% | +30.8% | +35.7% | +72.3% | +62.8% | +256% | 14.4%1.0× DIA | 0.75 |
| IWM Fell shortiShares Russell 2000 ETF | 1/5 short1/3 long | −3.7% | −5.6% | +0.6% | +12.0% | +14.8% | +73.3% | +29.4% | +157% | 22.4%1.5× DIA | 0.34 |
| RSP Fell shortInvesco S&P 500 Equal Weight ETF | 5/5 short0/3 long | +2.5% | +3.0% | +8.6% | +14.5% | +16.8% | +68.3% | +49.6% | +214% | 16.1%1.1× DIA | 0.58 |
| UNH Fell shortUnitedHealth Group Incorporated | 4/5 short0/3 long | +14.0% | −0.9% | +21.6% | +28.8% | +20.7% | −13.2% | +3.6% | +247% | 32.1%2.2× DIA | 0.19 |
| PG Fell shortThe Procter & Gamble Company | 4/5 short0/3 long | +11.7% | +11.9% | +17.7% | +19.4% | +12.0% | +20.2% | +32.9% | +156% | 18.4%1.2× DIA | 0.40 |
ETFs that consistently outperformed DIA
Top 15 by long-term periods outperformed, then short-term, then by 10Y return. Green cells outperformed DIA in that period. Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Expense | Assets | |||
| — | DIA State Street SPDR Dow Jones Industrial Average ETF Trust (benchmark) | — | +1.9% | +1.6% | +7.4% | +10.4% | +15.0% | +68.1% | +61.3% | +251% | 14.8% | 0.72 | ||
| 1 | BNO CommoditiesUnited States Brent Oil Fund LP | 5/5 short3/3 longAll-weather | +19.0% | +34.0% | +36.4% | +144% | +139% | +118% | +205% | +359% | 37.1%2.5× DIA | 0.79 | 1.15% | $768M |
| 2 | WTV Broad MarketWisdomTree U.S. Value Fund | 5/5 short3/3 longAll-weather | +2.9% | +3.5% | +11.1% | +16.8% | +20.7% | +92.0% | +89.0% | +306% | 17.0%1.1× DIA | 0.84 | 0.12% | $3.2B |
| 3 | RWL Broad MarketInvesco S&P 500 Revenue ETF | 5/5 short3/3 longAll-weather | +3.2% | +4.5% | +12.2% | +18.9% | +23.3% | +85.7% | +90.3% | +287% | 14.4%1.0× DIA | 0.97 | 0.39% | $10B |
| 4 | QUS Broad MarketState Street SPDR MSCI USA StrategicFactors ETF | 5/5 short3/3 longAll-weather | +2.5% | +5.6% | +10.2% | +14.0% | +16.7% | +73.5% | +69.3% | +276% | 14.2%1.0× DIA | 0.81 | 0.15% | $1.6B |
| 5 | DGRO Dividend & IncomeiShares Core Dividend Growth ETF | 5/5 short3/3 longAll-weather | +4.3% | +4.5% | +11.1% | +16.6% | +20.1% | +77.8% | +69.6% | +270% | 13.7%0.9× DIA | 0.84 | 0.08% | $44B |
| 6 | DBE AlternativesInvesco DB Energy Fund | 5/5 short3/3 longAll-weather | +11.4% | +26.4% | +33.5% | +130% | +123% | +98.0% | +149% | +268% | 30.6%2.1× DIA | 0.75 | 0.79% | $132M |
| 7 | PKW Broad MarketInvesco BuyBack Achievers ETF | 5/5 short3/3 longAll-weather | +3.9% | +5.6% | +9.2% | +12.4% | +15.8% | +80.8% | +66.4% | +261% | 17.3%1.2× DIA | 0.68 | 0.63% | $1.7B |
| 8 | IYW Broad MarketiShares U.S. Technology ETF | 4/5 short3/3 longAll-weather | −6.4% | +2.4% | +16.3% | +24.7% | +26.1% | +138% | +135% | +773% | 26.7%1.8× DIA | 0.78 | 0.37% | $24B |
| 9 | VGT TechnologyVanguard Information Technology ETF | 4/5 short3/3 longAll-weather | −6.1% | +2.7% | +15.4% | +25.9% | +26.7% | +135% | +130% | +753% | 26.1%1.8× DIA | 0.77 | 0.09% | $178B |
| 10 | FTEC TechnologyFidelity MSCI Information Technology Index ETF | 4/5 short3/3 longAll-weather | −6.1% | +2.6% | +15.4% | +25.9% | +26.9% | +136% | +132% | +737% | 26.1%1.8× DIA | 0.78 | 0.08% | $22B |
| 11 | RSPT TechnologyInvesco S&P 500 Equal Weight Technology ETF | 4/5 short3/3 longAll-weather | −3.9% | +6.2% | +21.6% | +40.0% | +43.0% | +141% | +116% | +559% | 25.1%1.7× DIA | 0.74 | 0.40% | $6.1B |
| 12 | FXL TechnologyFirst Trust Technology AlphaDEX Fund | 4/5 short3/3 longAll-weather | −2.1% | +8.6% | +17.8% | +28.7% | +29.3% | +104% | +66.4% | +514% | 26.2%1.8× DIA | 0.52 | 0.60% | $2.7B |
| 13 | CIBR TechnologyFirst Trust Nasdaq Cybersecurity ETF | 4/5 short3/3 longAll-weather | +0.2% | +15.1% | +49.3% | +45.8% | +35.2% | +134% | +96.7% | +461% | 26.2%1.8× DIA | 0.65 | 0.58% | $17B |
| 14 | EWT TechnologyiShares MSCI Taiwan ETF | 4/5 short3/3 longAll-weather | −9.7% | +2.3% | +20.7% | +60.6% | +67.3% | +187% | +147% | +448% | 24.3%1.6× DIA | 0.87 | 0.59% | $12B |
| 15 | UGA CommoditiesUnited States Gasoline Fund, LP | 4/5 short3/3 longAll-weather | −0.6% | +16.0% | +32.8% | +132% | +125% | +117% | +227% | +401% | 35.1%2.4× DIA | 0.85 | 1.08% | $167M |
Stocks that consistently outperformed DIA
Top 10 by long-term periods outperformed, then short-term, then by 10Y return. Individual stocks swing far more than funds; check the volatility column.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Company | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Market cap | |||
| — | DIA State Street SPDR Dow Jones Industrial Average ETF Trust (benchmark) | — | +1.9% | +1.6% | +7.4% | +10.4% | +15.0% | +68.1% | +61.3% | +251% | 14.8% | 0.72 | |
| 1 | NTRA Medical - Diagnostics & ResearchNatera, Inc. | 5/5 short3/3 longAll-weather | +2.7% | +51.9% | +93.2% | +75.4% | +113% | +901% | +249% | +3,934% | 57.6%3.9× DIA | 0.73 | $58B |
| 2 | MEDP Medical - Diagnostics & ResearchMedpace Holdings, Inc. | 5/5 short3/3 longAll-weather | +3.8% | +23.8% | +28.6% | +14.5% | +19.6% | +187% | +250% | +2,003% | 52.1%3.5× DIA | 0.73 | $18B |
| 3 | LLY Drug Manufacturers - GeneralEli Lilly and Company | 5/5 short3/3 longAll-weather | +11.7% | +12.5% | +42.3% | +21.5% | +61.9% | +131% | +461% | +1,870% | 32.8%2.2× DIA | 1.22 | $1.2T |
| 4 | COKE Beverages - Non-AlcoholicCoca-Cola Consolidated, Inc. | 5/5 short3/3 longAll-weather | +12.5% | +16.7% | +15.1% | +44.1% | +67.4% | +257% | +468% | +1,564% | 38.0%2.6× DIA | 1.11 | $14B |
| 5 | MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 5/5 short3/3 longAll-weather | +17.9% | +45.8% | +108% | +181% | +148% | +226% | +660% | +1,314% | 33.4%2.3× DIA | 1.39 | $129B |
| 6 | CVI Oil & Gas Refining & MarketingCVR Energy, Inc. | 5/5 short3/3 longAll-weather | +12.5% | +68.6% | +88.5% | +134% | +62.6% | +105% | +289% | +1,306% | 52.4%3.5× DIA | 0.79 | $5.9B |
| 7 | WSM Specialty RetailWilliams-Sonoma, Inc. | 5/5 short3/3 longAll-weather | +12.4% | +17.7% | +33.1% | +40.7% | +40.7% | +249% | +202% | +1,298% | 44.4%3.0× DIA | 0.72 | $31B |
| 8 | FRO Marine ShippingFrontline Plc | 5/5 short3/3 longAll-weather | +6.9% | +41.8% | +62.0% | +182% | +148% | +222% | +762% | +1,270% | 49.7%3.4× DIA | 1.12 | $11B |
| 9 | HALO BiotechnologyHalozyme Therapeutics, Inc. | 5/5 short3/3 longAll-weather | +8.2% | +60.0% | +82.1% | +77.1% | +89.4% | +258% | +220% | +1,255% | 40.4%2.7× DIA | 0.78 | $14B |
| 10 | AAPL Consumer ElectronicsApple Inc. | 5/5 short3/3 longAll-weather | +2.5% | +6.9% | +27.7% | +28.8% | +35.2% | +104% | +140% | +1,194% | 28.0%1.9× DIA | 0.77 | $5.1T |
What stands out
The consistent ETF leaders span several approaches, including broad-market strategies, technology, and commodities. The popular alternatives show that the edge was not limited to one recent stretch: VOO, IVV, and SPY outperformed in 3 of 3 long-term periods as well as 4 of 5 short-term periods. By contrast, XLK kept ahead in all 3 long-term periods but reached only 3 of 5 short-term periods.
The displayed stock leaders are spread across healthcare, energy, consumer staples, consumer discretionary, and industrials, though healthcare appears prominently. That breadth suggests the results were not confined to one sector, but the table shows only the top 10 stocks. Their ride was notably bumpier than DIA's, with median volatility roughly double or more than the benchmark. Still, 9 of 10 had a higher Sharpe ratio, indicating that most delivered more return per unit of risk over the measured period.
Methodology
- Short-term periods: 1M, 3M, 6M, YTD, 1Y. Long-term periods: 3Y, 5Y, 10Y. An investment outperformed a period when its total return, with dividends reinvested, was higher than DIA's. Returns within 0.5 points or 3% of DIA's (whichever is larger) count as a tie and are shown in gray.
- Consistent means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods, so a recent hot streak alone is not enough. All-weather means outperforming in every long-term period and all but one short-term period. Rankings use long-term periods outperformed, then short-term, then the 10Y return.
- Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
- Volatility is the annualized standard deviation of daily returns over 5 years. The Sharpe ratio is return above cash divided by volatility over the same period: higher means more return per unit of risk.
- Returns and risk figures are computed from daily adjusted prices and update with each market day. Past performance does not predict future results.