DIA vs VEA: Correlation & Overlap
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Vanguard FTSE Developed Markets ETF (VEA) carry a correlation of 0.73, a strong link. The two funds also share 0.3% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and VEA?
Across a 3-year window, the weekly returns of DIA and VEA correlate at 0.73, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 144.0 %².
Within DIA's tracked universe of 116 assets, VEA comes in at #33 by 3-year correlation. Over the last 12 months VEA came out ahead by 9.3 percentage points (+19.2% against +28.5%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.63 and 0.87.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DIA vs VEA: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +19.2% | +28.5% |
| 5-year return | +64.8% | +63.5% |
| Volatility (ann.) | 13.0% | 15.1% |
| Beta vs S&P 500 | 0.79 | 0.79 |
| Max drawdown (3Y) | -16.0% | -13.5% |
| Dividend yield | 1.37% | 2.56% |
| Expense ratio | 0.16% | 0.03% |
| Assets under management | $45.2B | $314.9B |
| Sector / category | ETF · US Large Cap | ETF · International |
DIA is a Large Value fund from State Street Investment Management: $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield. VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Portfolio overlap between DIA and VEA
The two portfolios are largely distinct, with 3 holdings in common adding up to 0.3% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
Largest positions held only by DIA: GS (11.56%), MSFT (5.51%), AMGN (4.89%), UNH (4.45%), V (4.26%). Only by VEA: 005930 (2.53%), ASML (2.00%), 000660 (1.98%), HSBA (1.15%), ROP (0.97%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 3 common positions shown.
Year-by-year returns
| Year | DIA | VEA |
|---|---|---|
| 2022 | -7.0% | -15.3% |
| 2023 | +16.0% | +17.9% |
| 2024 | +14.8% | +3.1% |
| 2025 | +14.7% | +35.2% |
| 2026 | +12.3% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and VEA good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DIA and VEA?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.74 over the last year and 0.78 over 5 years.
Is VEA a good diversifier for DIA?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
How much do DIA and VEA overlap?
0.3% by weight, across 3 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dia-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dia-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · VEA correlations
