EEM vs IVV: Correlation & Overlap
Measured on weekly returns over the past three years, iShares MSCI Emerging Markets ETF (EEM) and iShares Core S&P 500 ETF (IVV) carry a correlation of 0.68, a strong link. The two funds also share 0.1% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EEM and IVV?
Over the past 3 years, EEM and IVV moved with a correlation of 0.68, which is strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 178.7 %².
Within EEM's tracked universe of 67 assets, IVV comes in at #23 by 3-year correlation. The last year tells two different stories: EEM led by 17.4 percentage points, +38.1% for EEM against +20.7% for IVV. The link looks structural: the rolling one-year correlation barely moved, holding between 0.56 and 0.78.
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.
EEM vs IVV: side by side
| EEM (iShares MSCI Emerging Markets ETF) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | +38.1% | +20.7% |
| 5-year return | +47.1% | +83.0% |
| Volatility (ann.) | 18.0% | 14.5% |
| Beta vs S&P 500 | 0.85 | 1.00 |
| Max drawdown (3Y) | -17.3% | -18.8% |
| Dividend yield | 1.73% | 1.09% |
| Expense ratio | 0.72% | 0.03% |
| Assets under management | $29.2B | $869.2B |
| Sector / category | ETF · International | ETF · US Large Cap |
EEM is a Diversified Emerging Mkts fund from iShares: $29.2B under management, 968 holdings, a 0.72% expense ratio, a 1.73% 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 EEM and IVV
The two portfolios are largely distinct, with 3 holdings in common adding up to 0.1% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
Largest positions held only by EEM: 2330 (15.14%), 005930 (7.15%), 000660 (5.45%), 700 (2.83%), 9988 (2.02%). Only by IVV: NVDA (7.67%), AAPL (6.96%), MSFT (5.57%), AMZN (3.85%), GOOGL (3.03%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 3 common positions shown.
Year-by-year returns
| Year | EEM | IVV |
|---|---|---|
| 2022 | -20.6% | -18.2% |
| 2023 | +8.9% | +26.3% |
| 2024 | +6.5% | +24.9% |
| 2025 | +34.0% | +17.8% |
| 2026 | +24.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EEM and IVV good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EEM and IVV?
As of 2026-08-27, the correlation of weekly returns between EEM and IVV is 0.68 over 3 years, 0.71 over 1 year and 0.65 over 5 years.
Is IVV a good diversifier for EEM?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
How much do EEM and IVV overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 0.1% by weight over 3 common positions.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eem-vs-ivv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eem-vs-ivv/)
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Related comparisons
Hubs: EEM correlations · IVV correlations
