What is the fee difference between DIA and VOO?

DIA charges 0.16% a year and VOO charges 0.03%. On $10,000 invested that is about $16 a year for DIA and $3 for VOO, a gap of $13. Both are low in absolute terms, but VOO is one of the cheapest funds available for US large-cap exposure.

What index does each fund track?

DIA tracks the Dow Jones Industrial Average, an index of 30 large US companies where each stock's weight depends on its share price rather than its market value. VOO tracks the S&P 500, which weights about 500 companies by market value. VOO lists 516 holdings across all major sectors.

How much do DIA and VOO overlap?

All 30 Dow companies are also in the S&P 500, so every DIA holding sits inside VOO. The weights are very different, though. DIA's top 10 is led by Goldman Sachs at 10.9% and Caterpillar at 9.15%. VOO's top 10 is led by NVIDIA at 8.08% and Apple at 7.03%. Only Microsoft, Alphabet and Apple appear in both top 10 lists.

Which pays a higher dividend?

DIA shows a dividend yield of 1.4% against 1.04% for VOO. The Dow's members are mostly mature companies in finance, industrials and health care that pay regular dividends, while the S&P 500 includes many lower-yielding technology companies. Yields change as prices and payouts move.

Which fund suits which goal?

DIA suits investors who want a compact portfolio of household-name blue chips with a value tilt and a slightly higher yield. VOO suits investors who want the broadest low-cost exposure to the US large-cap market, including the technology companies that make up much of the S&P 500.

Which is bigger and more liquid?

VOO is vastly larger, with $1.08 trillion in net assets against $45.46 billion for DIA. Both are large, long-established ETFs that trade in high volumes on US exchanges, so retail investors can buy and sell either without difficulty. DIA has traded since January 1998 and VOO since September 2010.

How are DIA and VOO taxed?

Both are US-listed ETFs, so non-US investors may face US withholding tax on dividends at their country's treaty rate. DIA's higher yield means slightly more of its return arrives as taxable income each year. Capital gains follow your local rules and depend on the account you use.

Can I hold both DIA and VOO?

You can, but since all of DIA's 30 companies are already inside VOO, adding DIA mainly increases your weight in stocks such as Goldman Sachs, Caterpillar and UnitedHealth. Some investors do this deliberately to tilt toward blue-chip value names; others see it as unnecessary duplication.

Why does Goldman Sachs have the largest weight in DIA?

The Dow is price-weighted, so companies with higher share prices get larger weights regardless of their total market value. Goldman Sachs and Caterpillar have high share prices, giving them 10.9% and 9.15% of DIA. In VOO, which weights by market value, Apple and NVIDIA are the largest because they are the most valuable companies.

DIA vs VOO

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

DIA tracks the Dow Jones Industrial Average, a price-weighted index of 30 blue chips where Goldman Sachs at 10.9% and Caterpillar at 9.15% carry the most weight, for 0.16% a year with a 1.4% yield. VOO tracks the S&P 500 with 516 stocks led by NVIDIA and Apple for 0.03% and yields 1.04%. DIA is a compact set of blue chips; VOO covers the broad market. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

DIA

Metric

VOO

0.16%

Expense Ratio

0.03%

1.40%

Dividend Yield

1.04%

$45.46B

Net Assets

$1.08T

Holdings

516

Jan 14, 1998

Inception Date

Sep 7, 2010

Dow Jones Industrial Average

Index Tracked

S&P 500

Large Value

Fund Category

Large Blend

VOO costs about $13.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	DIA	VOO
MSFTMicrosoft Corporation	5.70%	5.70%
GOOGLAlphabet Inc.	3.98%	3.01%
AAPLApple Inc.	3.86%	7.03%

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Investment Analysis

DIA

Pros

Dividend yield of 1.4% is higher than VOO's 1.04%.
Concentrated in 30 well-known blue-chip companies with long operating histories.
Less technology-heavy: Microsoft, Alphabet and Apple are each under 6% of the fund.

Considerations

Expense ratio of 0.16% is more than five times VOO's 0.03%.
Goldman Sachs and Caterpillar together are about 20% of the fund.
Price weighting means a high share price, not company size, sets each stock's weight.

VOO

Pros

Expense ratio of 0.03%, or about $3 a year per $10,000 invested.
Holds 516 stocks across the S&P 500, far broader than DIA's 30.
Huge fund with $1.08 trillion in net assets.

Considerations

Dividend yield of 1.04% trails DIA's 1.4% by a noticeable margin.
Top 10 holdings are about 38% of assets, dominated by technology names.
NVIDIA alone is 8.08% of the fund, its single largest position.

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About DIA and VOO

DIA (DIA)

DIA is the SPDR ETF that seeks to mirror the Dow Jones Industrial Average, offering direct exposure to the 30 large-cap US companies that make up that index. It is a passive, rules-based fund designed to track the index’s performance by holding the underlying constituents or using replication techniques. Investors use DIA to gain convenient, intraday tradable access to a blue‑chip slice of the US market, including dividend income from constituents. Important points: the index is concentrated (30 names), so sector or stock-specific moves can have an outsized impact compared with broader benchmarks such as the S&P 500. Trading liquidity and bid/ask spreads matter for execution, and the fund has ongoing charges and potential tracking error versus the index. Values can rise and fall; this information is general and educational only, not personalised investment advice. Consider diversification, time horizon and your own risk tolerance before investing.

VOO (VOO)

VOO is Vanguard’s exchange-traded fund designed to track the S&P 500 Index, offering broad exposure to about 500 of the largest publicly traded US companies. It aims to replicate the index’s performance minus fees by holding the same stocks in similar proportions, making it a straightforward, passive way to access large‑cap US equities. Investors commonly use VOO as a core holding for long‑term growth or as a simple building block in a diversified portfolio. It typically offers high liquidity and regular dividend distributions from underlying companies. As with any equity investment, VOO’s value can rise or fall with the market, and past performance is not a guide to future returns. Fees, trading costs and potential tracking error reduce returns slightly. This information is general and educational only and not personalised financial advice — consider your own circumstances or speak to a qualified adviser before investing.

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DIA vs VOO

Fund Snapshot