The SPDR Dow Jones Industrial Average ETF Trust (DIA) is an exchange-traded fund that tracks the performance of the Dow Jones Industrial Average (DJIA). The DJIA itself is a stock market index of 30 prominent US-listed companies. It is one of the oldest and most commonly followed indexes.
SPDR Dow Jones Industrial Average ETF (DIA) Price and Chart
The DIA was launched in 1998 by State Street Global Advisors. It provides investors with exposure to 30 large-cap, blue-chip companies that represent a wide range of US industries, with names in the index including Nvidia, Apple, JPMorgan and Visa.
As of early 2025, the SPDR Dow Jones Industrial Average ETF Trust has $37.36 billion in total assets under management (AUM), making it a popular ETF for investors seeking exposure to blue-chip stocks.
SPDR Dow Jones Industrial Average ETF (DIA) Performance
| Year | Performance |
|---|---|
| 2024 (YTD) | +15.64% |
| 2023 | +16.03% |
| 2022 | -5.90% |
| 2021 | +20.84% |
| 2020 | +9.61% |
DIA Top Holdings (as End 2024)
| Company | Weight |
|---|---|
| Goldman Sachs | 8.02% |
| UnitedHealth Group | 7.08% |
| Microsoft | 6.33% |
| Home Depot | 5.57% |
| Caterpillar | 5.22% |
| Sherwin Williams | 4.96% |
| Salesforce | 4.87% |
| Visa | 4.56% |
| American Express | 4.24% |
| McDonald’s | 4.20% |
Dow Jones Industrial Average Forecast
Bull Argument: In a recent article, writer Taki Tsaklanos said the outlook for the index in 2025 is “directionally bullish,” with the predicted range during the year between 38,000 and 44,000. “The Dow Jones Industrial Average is in a prime position to capitalize on the ongoing upward trend in corporate earnings. This provides fundamental support to a bullish Dow Jones outlook 2025,” he wrote.
Overall, when assessing the DJIA, bullish investors will point to its stability and reliability as the exposure to blue-chip companies making it ideal for conservative investors.
In addition, the index is seen as more defensive as its composition often includes companies that perform well during economic downturns, offering potential downside protection, while it also includes many strong dividend-paying names.
Bear Argument: The Dow Jones Industrial Average recently broke a 10-day losing streak, which came amid a volatile week with fewer rate cuts predicted next year by the Federal Reserve and concerns about a potential government shutdown.
Assessing the DJIA, bearish investors may see less exposure to emerging industries like technology compared to broader indices like the S&P 500 or the Nasdaq-100 as a weakness to the index, while they may also point to its limited diversification, with only 30 holdings. As a result, the DIA offers less diversification than ETFs that track broader indices.
Furthermore, compared to tech-heavy indices and equities, the DJIA (and DIA ETF) may deliver slower growth, as many of its holdings are established companies with mature growth trajectories.
Our View:
The SPDR Dow Jones Industrial Average ETF Trust (DIA) is a potential investment option for those seeking stability, dividend income, and exposure to well-established names. Its long history and consistent performance make it a solid choice for conservative investors or those looking for a defensive play during uncertain economic periods.
However, for investors looking for exposure to high-growth stocks and sectors, the DIA may not be appealing. Overall, investors should weigh the stability of blue chips against the opportunity cost of higher-growth investments when considering DIA.
Who Should Buy the SPDR Dow Jones Industrial Average ETF Trust?
As explained above, the DIA ETF is a good choice for conservative investors, given it holds stable, blue-chip companies with strong track records.
We also mentioned earlier that dividend investors may find the DIA appealing as its holdings include companies with reliable dividend histories, offering steady income.
Furthermore, long-term investors and those with a focus on steady growth over time rather than speculative gains may see it as an attractive option.
The ETF may also attract investors who believe in the long-term strength and resilience of the US economy.
On the other hand, those seeking exposure to high-growth sectors like technology or small-cap stocks may find DIA too conservative.
In addition, sector-specific investors will probably want to look elsewhere at ETFs such as the VanEck Semiconductor ETF, the SPDR S&P Retail ETF, or other sector-focused funds.
Overall, the SPDR Dow Jones Industrial Average ETF Trust is a solid option for investors prioritising stability, dividends, and long-term growth in their portfolios.
