IAE vs SPY: Correlation
Measured on weekly returns over the past three years, Voya Asia Pacific High Dividend Equity Income Fund ING Asia (IAE) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IAE and SPY?
On 3 years of weekly data the IAE/SPY correlation comes out at 0.63, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.58, and annualized covariance runs at 150.9 %².
By 3-year correlation, SPY places #7 of the 17 assets tracked against IAE. Correlation aside, the last 12 months split them widely, with IAE ahead by 17.2 points (+37.8% versus +20.6%).
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.
IAE vs SPY: side by side
| IAE (Voya Asia Pacific High Dividend Equity Income Fund ING Asia) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +37.8% | +20.6% |
| 5-year return | +84.4% | +82.4% |
| Volatility (ann.) | 16.5% | 14.5% |
| Beta vs S&P 500 | 0.72 | 1.00 |
| Max drawdown (3Y) | -16.2% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 3.5 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | IAE | SPY |
|---|---|---|
| 2022 | -14.0% | -18.2% |
| 2023 | +9.1% | +26.2% |
| 2024 | +13.4% | +24.9% |
| 2025 | +34.6% | +17.7% |
| 2026 | +29.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IAE and SPY good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IAE and SPY?
The IAE/SPY correlation stands at 0.63 on a 3-year window (1 year: 0.61, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for IAE?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: IAE correlations · SPY correlations
