ETF Research and Analysis

by Alex Bryan, CFA
SPDR Dow Jones Industrial Average ETF DIA invests in 30 industry-leading companies that approximate the industry composition of the U.S. stock market. However, it leaves out a broad swath of the U.S. large-cap market and   Read more 

Bull Case

This portfolio should continue to hold up a little better than the S&P 500 during market downturns.
The fund's holdings are highly profitable industry-leaders with durable competitive advantages.
The sector composition of the portfolio is largely representative of the U.S. market.  Read more 

Bear Case

Price weighting does not accurately reflect the relative size of the fund's holdings.
The committee that maintains the Dow Jones Industrial Average does not follow a predefined set of objective rules to select the index's constituents.
This portfolio is highly concentrated. Read more 

Do thematic ETFs belong in your portfolio? 
Watch more 

Premium Membership

View all of our analyst reports with a free trial to Premium.