DIA vs IVV: Correlation & Overlap
How closely do SPDR Dow Jones Industrial Average ETF (DIA) and iShares Core S&P 500 ETF (IVV) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong. By holdings, the two funds overlap 28.8% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and IVV?
On 3 years of weekly data the DIA/IVV correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. The 5-year figure is 0.91, and annualized covariance runs at 166.0 %².
By 3-year correlation, IVV places #9 of the 116 assets tracked against DIA. Their 12-month results are close: +19.2% for DIA against +20.7% for IVV. Stability stands out here, with the rolling one-year correlation confined to 0.73 through 0.94.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DIA vs IVV: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | +19.2% | +20.7% |
| 5-year return | +64.8% | +83.0% |
| Volatility (ann.) | 13.0% | 14.5% |
| Beta vs S&P 500 | 0.79 | 1.00 |
| Max drawdown (3Y) | -16.0% | -18.8% |
| Dividend yield | 1.37% | 1.09% |
| Expense ratio | 0.16% | 0.03% |
| Assets under management | $45.2B | $869.2B |
| Sector / category | ETF · US Large Cap | ETF · US Large Cap |
On the fund side, DIA sits in the Large Value category at State Street Investment Management, with $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield. IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Portfolio overlap between DIA and IVV
The two portfolios partially overlap, with 30 holdings in common adding up to 28.8% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in DIA | Weight in IVV |
|---|---|---|
| MSFT | 5.51% | 5.57% |
| AAPL | 3.48% | 6.96% |
| GOOGL | 3.80% | 3.03% |
| AMZN | 2.89% | 3.85% |
| NVDA | 2.33% | 7.67% |
| JPM | 3.96% | 1.44% |
| JNJ | 3.00% | 0.98% |
| V | 4.26% | 0.96% |
| WMT | 1.16% | 0.69% |
| CSCO | 1.25% | 0.67% |
| MRK | 1.70% | 0.57% |
| CVX | 2.22% | 0.57% |
| CAT | 9.13% | 0.57% |
| UNH | 4.45% | 0.55% |
| KO | 1.00% | 0.53% |
Largest positions held only by DIA: . Only by IVV: AVGO (2.54%), GOOG (2.42%), META (1.91%), MU (1.60%), TSLA (1.47%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | DIA | IVV |
|---|---|---|
| 2022 | -7.0% | -18.2% |
| 2023 | +16.0% | +26.3% |
| 2024 | +14.8% | +24.9% |
| 2025 | +14.7% | +17.8% |
| 2026 | +12.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and IVV good diversifiers for each other?
No: a correlation of 0.88 means DIA and IVV tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DIA and IVV?
The DIA/IVV correlation stands at 0.88 on a 3-year window (1 year: 0.83, 5 years: 0.91), computed from weekly returns as of 2026-08-27.
Is IVV a good diversifier for DIA?
No: a correlation of 0.88 means DIA and IVV tend to fall together, which is precisely when diversification is supposed to help.
How much do DIA and IVV overlap?
28.8% by weight, across 30 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dia-vs-ivv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dia-vs-ivv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DIA correlations · IVV correlations
