# ETFs and Stocks That Consistently Outperformed DIA (Dow Jones Industrial Average)

> Source: BetterThanSPY research, https://betterthanspy.com/research/etfs-and-stocks-that-outperform-dia
> Data as of October 22, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) screened against the entire market of over 10,000 stocks and ETFs over 8 periods from 1 month to 10 years, with dividends reinvested. To make the list, an investment had to outperform DIA in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period. Returns in the tables are total returns over each period; volatility and Sharpe ratio cover 5 years.

## 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

| Investment | Status | Periods outperformed | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatility | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 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](https://betterthanspy.com/research/voo): Vanguard S&P 500 ETF | Made the list | 4/5 short, 3/3 long, all-weather | −1.2% | +2.5% | +8.0% | +12.7% | +15.7% | +88.8% | +80.8% | +319% | 16.9% | 0.79 |
| [IVV](https://betterthanspy.com/research/ivv): iShares Core S&P 500 ETF | Made the list | 4/5 short, 3/3 long, all-weather | −1.2% | +2.5% | +8.0% | +12.8% | +15.7% | +88.8% | +80.8% | +319% | 17.0% | 0.79 |
| [SPY](https://betterthanspy.com/research/spy): State Street SPDR S&P 500 ETF | Made the list | 4/5 short, 3/3 long, all-weather | −1.2% | +2.5% | +8.0% | +12.7% | +15.6% | +88.4% | +80.3% | +316% | 17.2% | 0.78 |
| [XLK](https://betterthanspy.com/research/xlk): State Street Technology Select Sector SPDR ETF | Made the list | 3/5 short, 3/3 long | −7.1% | +1.3% | +15.6% | +26.8% | +28.4% | +126% | +139% | +741% | 26.1% | 0.80 |
| [JPM](https://betterthanspy.com/research/jpm): JPMorgan Chase & Co. | Fell short | 2/5 short, 3/3 long | −0.5% | −2.9% | +8.5% | +5.4% | +16.6% | +154% | +122% | +534% | 24.3% | 0.78 |
| [QQQ](https://betterthanspy.com/research/qqq): Invesco QQQ Trust, Series 1 | Fell short | 2/5 short, 3/3 long | −5.8% | 0.0% | +7.8% | +15.3% | +16.9% | +101% | +94.0% | +531% | 23.0% | 0.69 |
| [GS](https://betterthanspy.com/research/gs): The Goldman Sachs Group, Inc. | Fell short | 1/5 short, 3/3 long | −6.1% | −18.4% | −3.8% | −1.1% | +22.1% | +218% | +143% | +524% | 28.6% | 0.77 |
| [VTI](https://betterthanspy.com/research/vti): Vanguard Morningstar Total Stock Market ETF | Fell short | 1/5 short, 3/3 long | −1.4% | +1.9% | +7.3% | +12.4% | +15.3% | +87.3% | +71.5% | +298% | 17.5% | 0.71 |
| [MSFT](https://betterthanspy.com/research/msft): Microsoft Corporation | Made the list | 4/5 short, 2/3 long | +4.6% | +33.7% | +20.9% | +10.9% | +0.9% | +61.9% | +75.6% | +862% | 28.2% | 0.54 |
| [VYM](https://betterthanspy.com/research/vym): Vanguard High Dividend Yield ETF | Made the list | 3/5 short, 2/3 long | +2.5% | +1.2% | +6.3% | +14.3% | +18.5% | +75.9% | +72.8% | +209% | 13.8% | 0.87 |
| XLI: State Street Industrial Select Sector SPDR ETF | Fell short | 0/5 short, 2/3 long | −2.1% | −6.5% | −2.0% | +6.4% | +10.3% | +76.9% | +71.5% | +246% | 17.6% | 0.70 |
| [SCHD](https://betterthanspy.com/research/schd): Schwab U.S. Dividend Equity ETF | Fell short | 5/5 short, 1/3 long | +5.8% | +8.5% | +16.0% | +30.8% | +35.7% | +72.3% | +62.8% | +256% | 14.4% | 0.75 |
| [IWM](https://betterthanspy.com/research/iwm): iShares Russell 2000 ETF | Fell short | 1/5 short, 1/3 long | −3.7% | −5.6% | +0.6% | +12.0% | +14.8% | +73.3% | +29.4% | +157% | 22.4% | 0.34 |
| [RSP](https://betterthanspy.com/research/rsp): Invesco S&P 500 Equal Weight ETF | Fell short | 5/5 short, 0/3 long | +2.5% | +3.0% | +8.6% | +14.5% | +16.8% | +68.3% | +49.6% | +214% | 16.1% | 0.58 |
| [UNH](https://betterthanspy.com/research/unh): UnitedHealth Group Incorporated | Fell short | 4/5 short, 0/3 long | +14.0% | −0.9% | +21.6% | +28.8% | +20.7% | −13.2% | +3.6% | +247% | 32.1% | 0.19 |
| [PG](https://betterthanspy.com/research/pg): The Procter & Gamble Company | Fell short | 4/5 short, 0/3 long | +11.7% | +11.9% | +17.7% | +19.4% | +12.0% | +20.2% | +32.9% | +156% | 18.4% | 0.40 |

## ETFs that consistently outperformed DIA

| Investment | Periods outperformed | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatility | Sharpe | 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 |  |  |
| BNO: United States Brent Oil Fund LP | 5/5 short, 3/3 long, all-weather | +19.0% | +34.0% | +36.4% | +144% | +139% | +118% | +205% | +359% | 37.1% | 0.79 | 1.15% | $768M |
| WTV: WisdomTree U.S. Value Fund | 5/5 short, 3/3 long, all-weather | +2.9% | +3.5% | +11.1% | +16.8% | +20.7% | +92.0% | +89.0% | +306% | 17.0% | 0.84 | 0.12% | $3.2B |
| RWL: Invesco S&P 500 Revenue ETF | 5/5 short, 3/3 long, all-weather | +3.2% | +4.5% | +12.2% | +18.9% | +23.3% | +85.7% | +90.3% | +287% | 14.4% | 0.97 | 0.39% | $10B |
| QUS: State Street SPDR MSCI USA StrategicFactors ETF | 5/5 short, 3/3 long, all-weather | +2.5% | +5.6% | +10.2% | +14.0% | +16.7% | +73.5% | +69.3% | +276% | 14.2% | 0.81 | 0.15% | $1.6B |
| [DGRO](https://betterthanspy.com/research/dgro): iShares Core Dividend Growth ETF | 5/5 short, 3/3 long, all-weather | +4.3% | +4.5% | +11.1% | +16.6% | +20.1% | +77.8% | +69.6% | +270% | 13.7% | 0.84 | 0.08% | $44B |
| DBE: Invesco DB Energy Fund | 5/5 short, 3/3 long, all-weather | +11.4% | +26.4% | +33.5% | +130% | +123% | +98.0% | +149% | +268% | 30.6% | 0.75 | 0.79% | $132M |
| PKW: Invesco BuyBack Achievers ETF | 5/5 short, 3/3 long, all-weather | +3.9% | +5.6% | +9.2% | +12.4% | +15.8% | +80.8% | +66.4% | +261% | 17.3% | 0.68 | 0.63% | $1.7B |
| IYW: iShares U.S. Technology ETF | 4/5 short, 3/3 long, all-weather | −6.4% | +2.4% | +16.3% | +24.7% | +26.1% | +138% | +135% | +773% | 26.7% | 0.78 | 0.37% | $24B |
| [VGT](https://betterthanspy.com/research/vgt): Vanguard Information Technology ETF | 4/5 short, 3/3 long, all-weather | −6.1% | +2.7% | +15.4% | +25.9% | +26.7% | +135% | +130% | +753% | 26.1% | 0.77 | 0.09% | $178B |
| FTEC: Fidelity MSCI Information Technology Index ETF | 4/5 short, 3/3 long, all-weather | −6.1% | +2.6% | +15.4% | +25.9% | +26.9% | +136% | +132% | +737% | 26.1% | 0.78 | 0.08% | $22B |
| RSPT: Invesco S&P 500 Equal Weight Technology ETF | 4/5 short, 3/3 long, all-weather | −3.9% | +6.2% | +21.6% | +40.0% | +43.0% | +141% | +116% | +559% | 25.1% | 0.74 | 0.40% | $6.1B |
| FXL: First Trust Technology AlphaDEX Fund | 4/5 short, 3/3 long, all-weather | −2.1% | +8.6% | +17.8% | +28.7% | +29.3% | +104% | +66.4% | +514% | 26.2% | 0.52 | 0.60% | $2.7B |
| CIBR: First Trust Nasdaq Cybersecurity ETF | 4/5 short, 3/3 long, all-weather | +0.2% | +15.1% | +49.3% | +45.8% | +35.2% | +134% | +96.7% | +461% | 26.2% | 0.65 | 0.58% | $17B |
| EWT: iShares MSCI Taiwan ETF | 4/5 short, 3/3 long, all-weather | −9.7% | +2.3% | +20.7% | +60.6% | +67.3% | +187% | +147% | +448% | 24.3% | 0.87 | 0.59% | $12B |
| UGA: United States Gasoline Fund, LP | 4/5 short, 3/3 long, all-weather | −0.6% | +16.0% | +32.8% | +132% | +125% | +117% | +227% | +401% | 35.1% | 0.85 | 1.08% | $167M |

## Stocks that consistently outperformed DIA

| Investment | Periods outperformed | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatility | Sharpe | 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 |  |
| [NTRA](https://betterthanspy.com/research/ntra): Natera, Inc. | 5/5 short, 3/3 long, all-weather | +2.7% | +51.9% | +93.2% | +75.4% | +113% | +901% | +249% | +3,934% | 57.6% | 0.73 | $58B |
| MEDP: Medpace Holdings, Inc. | 5/5 short, 3/3 long, all-weather | +3.8% | +23.8% | +28.6% | +14.5% | +19.6% | +187% | +250% | +2,003% | 52.1% | 0.73 | $18B |
| [LLY](https://betterthanspy.com/research/lly): Eli Lilly and Company | 5/5 short, 3/3 long, all-weather | +11.7% | +12.5% | +42.3% | +21.5% | +61.9% | +131% | +461% | +1,870% | 32.8% | 1.22 | $1.2T |
| COKE: Coca-Cola Consolidated, Inc. | 5/5 short, 3/3 long, all-weather | +12.5% | +16.7% | +15.1% | +44.1% | +67.4% | +257% | +468% | +1,564% | 38.0% | 1.11 | $14B |
| [MPC](https://betterthanspy.com/research/mpc): Marathon Petroleum Corporation | 5/5 short, 3/3 long, all-weather | +17.9% | +45.8% | +108% | +181% | +148% | +226% | +660% | +1,314% | 33.4% | 1.39 | $129B |
| CVI: CVR Energy, Inc. | 5/5 short, 3/3 long, all-weather | +12.5% | +68.6% | +88.5% | +134% | +62.6% | +105% | +289% | +1,306% | 52.4% | 0.79 | $5.9B |
| WSM: Williams-Sonoma, Inc. | 5/5 short, 3/3 long, all-weather | +12.4% | +17.7% | +33.1% | +40.7% | +40.7% | +249% | +202% | +1,298% | 44.4% | 0.72 | $31B |
| FRO: Frontline Plc | 5/5 short, 3/3 long, all-weather | +6.9% | +41.8% | +62.0% | +182% | +148% | +222% | +762% | +1,270% | 49.7% | 1.12 | $11B |
| HALO: Halozyme Therapeutics, Inc. | 5/5 short, 3/3 long, all-weather | +8.2% | +60.0% | +82.1% | +77.1% | +89.4% | +258% | +220% | +1,255% | 40.4% | 0.78 | $14B |
| [AAPL](https://betterthanspy.com/research/aapl): Apple Inc. | 5/5 short, 3/3 long, all-weather | +2.5% | +6.9% | +27.7% | +28.8% | +35.2% | +104% | +140% | +1,194% | 28.0% | 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.

## More research

- [ETFs and Stocks That Consistently Outperformed SPY (S&P 500)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-spy)
- [ETFs and Stocks That Consistently Outperformed VOO (S&P 500)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-voo)
- [ETFs and Stocks That Consistently Outperformed VTI (Total US Stock Market)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-vti)
- [ETFs and Stocks That Consistently Outperformed QQQ (Nasdaq-100)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-qqq)
- [ETFs and Stocks That Consistently Outperformed IWM (Russell 2000 Small Caps)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-iwm)
- [ETFs and Stocks That Consistently Outperformed VXUS (International Stocks)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-vxus)
- [ETFs and Stocks That Consistently Outperformed NVDA (Nvidia)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-nvda)
- [ETFs and Stocks That Consistently Outperformed AAPL (Apple)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-aapl)
- [ETFs and Stocks That Consistently Outperformed MSFT (Microsoft)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-msft)
- [ETFs and Stocks That Consistently Outperformed AMZN (Amazon)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-amzn)
- [ETFs and Stocks That Consistently Outperformed GOOG (Alphabet)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-goog)
- [ETFs and Stocks That Consistently Outperformed META (Meta Platforms)](https://betterthanspy.com/research/etfs-and-stocks-that-outperform-meta)

## Explore further

- Full page: https://betterthanspy.com/research/etfs-and-stocks-that-outperform-dia
- All research pages: https://betterthanspy.com/llms.txt