It's never been a good idea to bet against America. And nothing is better than America's diamonds, so you can't help but love the companies that comprise DIAMONDS Trust, Series 1 (NYSE: DIA) exchange-traded fund (ETF). DIA is one of the first ETFs ever created and indexes the Dow Jones Industrial Average. These are the best companies in America -- good, solid producers.

Valuations have been crushed across the board in 2008, and many money managers that I know who have owned more speculative small cap companies, are looking at the stocks in the Dow Jones that are trading at historically low multiples and "trading up" in the quality of their companies. Do you have $10,000 in a few marginal small cap companies? Sell them all and buy DIA -- you might get a safer ride if the market continues to fall, while preserving nearly all of the upside.

During the last 12 months, DIA has paid about $3 of dividends. Based upon an $87 price, this is about a 3.4% yield and you still have all the upside -- remember a few months ago the Dow was at $135.

Examples of the well-known and respected companies in DIA include 3M Company (NYSE: MMM), Boeing Company (NYSE: BA), Johnson & Johnson (NYSE: JNJ), McDonald's Corp. (NYSE: MCD), and Wal-Mart Stores, Inc. (NYSE: WMT) among many other famous brands. These brands are consistent performers and even in times of economic crisis, will probably still draw huge numbers of customers to their products.

Why pay a large cap money manager to stock pick among the Dow Jones? DIA only charges 0.14% to own all the companies through this ETF whereas a traditional money manager would charge you much 1% - 2% to invest in the same companies, thus taking most of your dividend away in fees.