DIA vs XLP: Correlation & Overlap
SPDR Dow Jones Industrial Average ETF (DIA) and Consumer Staples Select Sector SPDR Fund (XLP) show a moderate relationship: their 3-year correlation of weekly returns is 0.46. The two funds also share 3.8% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and XLP?
Across a 3-year window, the weekly returns of DIA and XLP correlate at 0.46, moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.46). Stretching to 5 years gives 0.63, with an annualized covariance of 66.3 %².
By 3-year correlation, XLP places #96 of the 116 assets tracked against DIA. On 12-month performance DIA holds a 10.9-point edge, +19.2% against +8.3%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.26 to 0.79.
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 XLP: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +19.2% | +8.3% |
| 5-year return | +64.8% | +34.7% |
| Volatility (ann.) | 13.0% | 11.1% |
| Beta vs S&P 500 | 0.79 | 0.23 |
| Max drawdown (3Y) | -16.0% | -9.7% |
| Dividend yield | 1.37% | 2.58% |
| Expense ratio | 0.16% | 0.08% |
| Assets under management | $45.2B | $14.6B |
| Sector / category | ETF · US Large Cap | Sector ETF |
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. On the fund side, XLP sits in the Consumer Defensive category at State Street Investment Management, with $14.6B under management, 35 holdings, a 0.08% expense ratio, a 2.58% trailing dividend yield.
Portfolio overlap between DIA and XLP
The two portfolios are largely distinct: 3.8% of the funds' weight sits in the same underlying holdings (3 common positions). Correlation tells you they move together; overlap tells you why.
Largest positions held only by DIA: GS (11.56%), CAT (9.13%), MSFT (5.51%), AMGN (4.89%), UNH (4.45%). Only by XLP: COST (8.92%), PM (6.36%), TGT (4.67%), CL (4.56%), PEP (4.39%).
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 | XLP |
|---|---|---|
| 2022 | -7.0% | -0.8% |
| 2023 | +16.0% | -0.8% |
| 2024 | +14.8% | +12.2% |
| 2025 | +14.7% | +1.5% |
| 2026 | +12.3% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and XLP good diversifiers for each other?
Reasonably. At 0.46, DIA and XLP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DIA and XLP?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.26 over the last year and 0.63 over 5 years.
Is XLP a good diversifier for DIA?
Reasonably. At 0.46, DIA and XLP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
How much do DIA and XLP overlap?
The two funds share 3 holdings amounting to 3.8% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dia-vs-xlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dia-vs-xlp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · XLP correlations
