SPDR Dow Jones Industrial Average ETF (DIA) Valuation
DIA valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 20.9 trailing earnings
- Forward P/E
- 18.4 analyst estimates
- Price / sales
- 3.16
- Price / book
- 5.52
- EV / EBITDA
- 15.7
- Earnings yield
- 4.78% inverse of P/E
- Dividend yield
- 1.55% of the holdings
- Return on equity
- 26.4% combined
- Net margin
- 15.1% combined
- Beta
- 0.97 weighted, vs S&P 500
DIA valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
DIA valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 27.2% | 14.7 | 13.9 | 3.47 | 3.17 | 1.63% | 21.5% |
| Technology | 18.7% | 27.5 | 21.8 | 6.97 | 9.25 | 1.00% | 33.6% |
| Industrials | 14.7% | 21.6 | 25.1 | 2.84 | 11.62 | 0.97% | 53.7% |
| Healthcare | 14.6% | 31.3 | 17.2 | 1.94 | 6.48 | 2.28% | 20.7% |
| Consumer Cyclical | 9.9% | 20.4 | 19.8 | 2.71 | 10.57 | 2.24% | 51.9% |
| Communication Services | 4.8% | 18.2 | 19.6 | 4.73 | 3.78 | 0.54% | 20.7% |
| Consumer Defensive | 4.3% | 29.1 | 25.8 | 2.68 | 7.91 | 2.03% | 27.2% |
| Basic Materials | 4.0% | 30.9 | 23.8 | 3.33 | 20.56 | 0.95% | 66.5% |
| Energy | 2.5% | 21.2 | 15.2 | 2.11 | 2.12 | 3.16% | 10.0% |
DIA earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How DIA weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
DIA largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| GS | The Goldman Sachs Group, Inc. | 10.33% | 12.7 | 12.8 | 3.6 | 2.27% | 16.90% |
| CAT | Caterpillar Inc. | 7.99% | 31.5 | 25.4 | 4.5 | 0.89% | 5.27% |
| MSFT | Microsoft Corporation | 5.60% | 29.5 | 25.1 | 11.8 | 0.74% | 3.94% |
| AMGN | Amgen Inc. | 5.15% | 26.9 | 16.7 | 6.1 | 2.33% | 3.97% |
| V | Visa Inc. | 4.87% | 34.3 | 24.0 | 17.0 | 0.67% | 2.95% |
| UNH | UnitedHealth Group Incorporated | 4.72% | 25.8 | 16.6 | 0.8 | 2.31% | 3.79% |
| TRV | The Travelers Companies, Inc. | 4.39% | 10.5 | 10.8 | 1.7 | 1.28% | 8.69% |
| SHW | The Sherwin-Williams Company | 4.03% | 30.9 | 23.8 | 3.3 | 0.95% | 2.70% |
| JPM | JPMorgan Chase & Co. | 3.95% | 14.2 | 13.5 | 4.7 | 1.94% | 5.75% |
| AAPL | Apple Inc. | 3.82% | 39.4 | 35.2 | 10.7 | 0.31% | 2.01% |
| AXP | American Express Company | 3.67% | 19.0 | 15.1 | 3.0 | 1.21% | 4.00% |
| GOOGL | Alphabet Inc. | 3.62% | 17.1 | 22.8 | 9.3 | 0.26% | 4.39% |
| HD | The Home Depot, Inc. | 3.61% | 21.5 | 19.8 | 1.8 | 3.01% | 3.47% |
| JNJ | Johnson & Johnson | 3.03% | 38.8 | 21.0 | 6.2 | 2.10% | 1.62% |
| MCD | McDonald's Corporation | 2.94% | 19.7 | 17.1 | 6.2 | 3.18% | 3.09% |
| AMZN | Amazon.com, Inc. | 2.88% | 20.1 | 23.6 | 3.5 | — | 2.97% |
| CRM | Salesforce, Inc. | 2.88% | 22.0 | 14.0 | 4.5 | 0.73% | 2.71% |
| IBM | International Business Machines Corporation | 2.85% | 20.6 | 17.4 | 3.2 | 2.91% | 2.86% |
| HON | Honeywell International Inc. | 2.55% | 7.8 | 22.2 | 1.8 | 1.32% | 6.76% |
| CVX | Chevron Corporation | 2.54% | 21.2 | 15.2 | 2.1 | 3.16% | 2.48% |
| NVDA | NVIDIA Corporation | 2.36% | 27.1 | 24.9 | 17.1 | 0.47% | 1.81% |
| BA | The Boeing Company | 2.18% | 67.9 | 49.5 | 1.6 | — | 0.67% |
| MMM | 3M Company | 2.00% | 29.3 | 17.8 | 3.4 | 1.89% | 1.42% |
| PG | The Procter & Gamble Company | 1.89% | 24.1 | 21.2 | 4.3 | 2.73% | 1.63% |
| MRK | Merck & Co., Inc. | 1.73% | 115.8 | 15.3 | 5.4 | 2.33% | 0.31% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About DIA valuation
Adding up its 30 holdings with company data, DIA trades at 20.9 times trailing earnings and 18.4 times analysts' forward estimates, with a price-to-book ratio of 5.52 and a dividend yield of 1.55%. Its earnings yield of 4.78% is 0.55 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 54.8% of the fund and earn 56.0% of its combined profit. By sector, Healthcare is the most expensive at 31.3 times earnings and Financial Services the cheapest at 14.7. Companies that lost money over the past year are 0.0% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: DIA chart, DIA performance, DIA holdings, DIA dividends.
DIA valuation FAQ
What is the P/E ratio of DIA?
Based on its holdings, DIA has a trailing P/E of 20.9 and a forward P/E of 18.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of DIA?
The trailing earnings yield is 4.78% (1 ÷ P/E) and the forward earnings yield 5.45%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is DIA more expensive than the S&P 500?
DIA trades at 20.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.4 and 19.9.
What is the price-to-book ratio of DIA?
The holdings of DIA trade at 5.52 times book value, with a combined return on equity of 26.4%.
Which sector in DIA has the highest P/E?
Healthcare has the highest P/E at 31.3 and Financial Services the lowest at 14.7.