SPDR Dow ETF’s 13% 2025 Gain Precedes Average 17.5% Midterm Slide
The Dow Jones Industrial Average rose 13% in 2025, extending President Trump’s five-year rally that previously saw gains of 57%, 70%, and 142% across his first term. Historical data show stocks trading near a 23x forward P/E ratio and midterm years averaging a 17.5% peak-to-trough correction, implying heightened downside risk for DIA investors in 2026.