Equal-Weight S&P 500 (RSP) vs Dow Jones (DIA)
Live side-by-side comparison with current values, changes, and key statistics.
Why This Comparison Matters
Both are lower-concentration gauges (DIA has 30 names, price-weighted). When RSP outperforms DIA, small and mid-cap names within the S&P 500 are leading. When DIA outperforms RSP, the specific blue-chip composition (industrials, healthcare, financials) is leading. The ratio isolates breadth within large-caps from factor-specific leadership.
Cross-Asset Analysis
S&P 500 Equal Weight (RSP) captures equal-weight S&P 500, measures market breadth vs cap-weighted SPY, whereas Dow Jones ETF (DIA) reflects SPDR Dow Jones Industrial Average ETF, tracks the 30 blue-chip Dow components, and the difference between how they move is what the peer pair relationship is really about. Mid-cycle stretches see the S&P 500 Equal Weight (RSP)-Dow Jones ETF (DIA) spread compress as macro volatility stays low and factor returns normalize. The S&P 500 Equal Weight (RSP)-Dow Jones ETF (DIA) spread captures the tilt between two variants of the same asset: one may be more defensive, one more cyclical.
Sector, style, and geographic dominance cycles each produce multi-year relative performance episodes between S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA). Pairs like S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) trade tighter than either leg does individually, because the common component is high and the remaining idiosyncratic share is what the pair expresses. Factor exposures embedded inside S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) drive their relative performance, with growth-value, large-small, and domestic-international all surfacing in the spread.
In bull markets the more aggressive peer between S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) usually leads, while bear markets shift leadership toward the more defensive peer. Late-cycle environments force S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) to express their respective defensive and cyclical tilts more sharply, making the spread a useful regime tell.
90-Day Statistics
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Frequently Asked Questions
What is the relationship between S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA)?+
S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) are connected through shared asset class exposure with different factor tilts. When the underlying asset class shifts, both respond, though with different sensitivities and at different speeds. The spread between S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) captures the specific macro signal that flows through this relationship.
When does S&P 500 Equal Weight (RSP) typically lead Dow Jones ETF (DIA)?+
S&P 500 Equal Weight (RSP) tends to lead Dow Jones ETF (DIA) during rotation episodes between the two factor exposures. In those periods, moves in S&P 500 Equal Weight (RSP) precede corresponding moves in Dow Jones ETF (DIA) by days to weeks, depending on the transmission channel and the depth of each market.
How are S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) historically correlated?+
Long-run correlation between S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) varies by regime. Peers in the same asset class are highly correlated in direction, with the spread reflecting factor tilts and rotation dynamics. The correlation is not stable: it shifts with macro conditions, and the periods when it breaks down are often the most informative moments in the S&P 500 Equal Weight (RSP)-Dow Jones ETF (DIA) relationship.
What macro conditions drive divergence between S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA)?+
Divergence between S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) typically arises from index reconstitution, mega-cap earnings surprises, or liquidity differences between the peers. When one asset's idiosyncratic drivers dominate, the spread moves in ways that the common macro story does not predict, which is usually a signal to look more carefully at the specific drivers at work in S&P 500 Equal Weight (RSP) or Dow Jones ETF (DIA).
Is S&P 500 Equal Weight (RSP) a hedge for Dow Jones ETF (DIA)?+
Peers like S&P 500 Equal Weight (RSP) and Dow Jones ETF (DIA) do not hedge each other; both rise or fall with the shared asset class, and using the pair as a spread trade is different from using it as a hedge. Effective hedging requires matching the hedge to the specific risk being protected, and the S&P 500 Equal Weight (RSP)-Dow Jones ETF (DIA) pair is best stress-tested under scenarios the investor most worries about before being sized into a real portfolio.
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Data sourced from FRED, CoinGecko, CBOE, and other providers. This page is for informational purposes only and does not constitute financial advice. Past performance does not guarantee future results.