FXI vs VTV: Correlation & Overlap
Measured on weekly returns over the past three years, iShares China Large-Cap ETF (FXI) and Vanguard Value ETF (VTV) carry a correlation of 0.35, a moderate link. Looking through to holdings, 0% of the two portfolios is the same by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXI and VTV?
On 3 years of weekly data the FXI/VTV correlation comes out at 0.35, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.35 over 3. The 5-year figure is 0.30, and annualized covariance runs at 105.3 %².
By 3-year correlation, VTV places #38 of the 74 assets tracked against FXI. The last year tells two different stories: VTV led by 31.8 percentage points, -6.1% for FXI against +25.7% for VTV. On a rolling one-year basis the correlation drifted between 0.24 and 0.64, a moderate band. One caveat on sizing: FXI is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FXI vs VTV: side by side
| FXI (iShares China Large-Cap ETF) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | -6.1% | +25.7% |
| 5-year return | -1.4% | +79.1% |
| Volatility (ann.) | 25.3% | 11.9% |
| Beta vs S&P 500 | 0.68 | 0.65 |
| Max drawdown (3Y) | -23.2% | -14.5% |
| Dividend yield | 1.87% | 1.86% |
| Expense ratio | 0.73% | 0.03% |
| Assets under management | $4.3B | $256.4B |
| Sector / category | ETF · International | ETF · US Style |
On the fund side, FXI sits in the Greater China Region category at iShares, with $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield. On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Portfolio overlap between FXI and VTV
The two portfolios are largely distinct, with 0 holdings in common adding up to 0% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
Largest positions held only by FXI: 9988 (9.72%), 939 (9.09%), 700 (8.51%), 1398 (6.35%), 1810 (5.16%). Only by VTV: JPM (3.51%), MU (3.46%), BRK.B (2.99%), XOM (2.40%), JNJ (2.30%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26.
Year-by-year returns
| Year | FXI | VTV |
|---|---|---|
| 2022 | -20.7% | -2.1% |
| 2023 | -12.4% | +9.3% |
| 2024 | +29.0% | +16.0% |
| 2025 | +28.9% | +15.3% |
| 2026 | -7.3% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXI and VTV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FXI and VTV?
As of 2026-08-27, the correlation of weekly returns between FXI and VTV is 0.35 over 3 years, 0.34 over 1 year and 0.30 over 5 years.
Is VTV a good diversifier for FXI?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
How much do FXI and VTV overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 0% by weight over 0 common positions.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fxi-vs-vtv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fxi-vs-vtv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FXI correlations · VTV correlations
