DIA vs VIG: Correlation & Overlap
How closely do SPDR Dow Jones Industrial Average ETF (DIA) and Vanguard Dividend Appreciation ETF (VIG) trade together? Their weekly returns over three years give a correlation of 0.95, which is very strong. The two funds also share 33.0% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and VIG?
On 3 years of weekly data the DIA/VIG correlation comes out at 0.95, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.92) sits close to the 3-year figure. The 5-year figure is 0.96, and annualized covariance runs at 146.9 %².
Few assets follow DIA as closely as VIG, which ranks #1 of 116 tracked partners. Neither side won the trailing year by much: +19.2% against +17.1%. The rolling one-year correlation stayed in a tight band between 0.92 and 0.97 over the past three years, which points to a structural rather than episodic relationship.
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 VIG: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | VIG (Vanguard Dividend Appreciation ETF) | |
|---|---|---|
| 1-year return | +19.2% | +17.1% |
| 5-year return | +64.8% | +64.0% |
| Volatility (ann.) | 13.0% | 11.9% |
| Beta vs S&P 500 | 0.79 | 0.74 |
| Max drawdown (3Y) | -16.0% | -15.0% |
| Dividend yield | 1.37% | 1.50% |
| Expense ratio | 0.16% | 0.04% |
| Assets under management | $45.2B | $130.9B |
| Sector / category | ETF · US Large Cap | ETF · Dividend |
DIA, State Street Investment Management's Large Value fund, carries $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield. VIG, Vanguard's Large Blend fund, carries $130.9B under management, 333 holdings, a 0.04% expense ratio, a 1.50% trailing dividend yield.
Portfolio overlap between DIA and VIG
The two portfolios partially overlap. Weighing the shared positions, 33.0% of the two funds is identical, spread across 21 common holdings. That shared book is a large part of why the returns line up.
| Common holding | Weight in DIA | Weight in VIG |
|---|---|---|
| MSFT | 5.51% | 4.35% |
| JPM | 3.96% | 4.09% |
| AAPL | 3.48% | 4.47% |
| JNJ | 3.00% | 2.68% |
| V | 4.26% | 2.46% |
| UNH | 4.45% | 1.63% |
| CAT | 9.13% | 1.63% |
| PG | 1.61% | 1.46% |
| HD | 3.72% | 1.43% |
| MRK | 1.70% | 1.40% |
| CSCO | 1.25% | 1.99% |
| GS | 11.56% | 1.24% |
| WMT | 1.16% | 2.12% |
| KO | 1.00% | 1.47% |
| IBM | 2.55% | 0.91% |
Largest positions held only by DIA: GOOGL (3.80%), AXP (3.73%), AMZN (2.89%), BA (2.36%), NVDA (2.33%). Only by VIG: AVGO (4.65%), LLY (3.94%), XOM (2.80%), MA (2.01%), ABBV (1.92%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | DIA | VIG |
|---|---|---|
| 2022 | -7.0% | -9.8% |
| 2023 | +16.0% | +14.5% |
| 2024 | +14.8% | +17.0% |
| 2025 | +14.7% | +14.2% |
| 2026 | +12.3% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and VIG good diversifiers for each other?
No: a correlation of 0.95 means DIA and VIG tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DIA and VIG?
The DIA/VIG correlation stands at 0.95 on a 3-year window (1 year: 0.92, 5 years: 0.96), computed from weekly returns as of 2026-08-27.
Is VIG a good diversifier for DIA?
No: a correlation of 0.95 means DIA and VIG tend to fall together, which is precisely when diversification is supposed to help.
How much do DIA and VIG overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 33.0% by weight over 21 common positions.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dia-vs-vig.json
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Related comparisons
Hubs: DIA correlations · VIG correlations
