IBB vs IVV: Correlation & Overlap
iShares Biotechnology ETF (IBB) and iShares Core S&P 500 ETF (IVV) show a moderate relationship: their 3-year correlation of weekly returns is 0.56. Looking through to holdings, 1.2% 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 IBB and IVV?
Over the past 3 years, IBB and IVV moved with a correlation of 0.56, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.56 over 3 years. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 168.1 %².
By 3-year correlation, IVV places #56 of the 168 assets tracked against IBB. Correlation aside, the last 12 months split them widely, with IBB ahead by 34.7 points (+55.4% versus +20.7%). Across three years, the rolling one-year figure varied moderately, from 0.39 to 0.84.
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.
IBB vs IVV: side by side
| IBB (iShares Biotechnology ETF) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | +55.4% | +20.7% |
| 5-year return | +26.6% | +83.0% |
| Volatility (ann.) | 20.7% | 14.5% |
| Beta vs S&P 500 | 0.81 | 1.00 |
| Max drawdown (3Y) | -24.9% | -18.8% |
| Dividend yield | 0.22% | 1.09% |
| Expense ratio | 0.44% | 0.03% |
| Assets under management | $9.2B | $869.2B |
| Sector / category | ETF · Thematic | ETF · US Large Cap |
IBB, iShares's Health fund, carries $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% 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 IBB and IVV
The two portfolios are largely distinct, with 9 holdings in common adding up to 1.2% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in IBB | Weight in IVV |
|---|---|---|
| AMGN | 8.43% | 0.36% |
| GILD | 7.10% | 0.28% |
| VRTX | 7.89% | 0.21% |
| REGN | 5.68% | 0.12% |
| MRNA | 3.76% | 0.08% |
| BIIB | 2.23% | 0.05% |
| INCY | 1.75% | 0.03% |
| CRL | 0.97% | 0.02% |
| TECH | 0.78% | 0.02% |
Largest positions held only by IBB: ARGX (3.76%), NTRA (3.19%), RVMD (2.83%), ILMN (2.34%), ALNY (2.19%). 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 9 common positions shown.
Year-by-year returns
| Year | IBB | IVV |
|---|---|---|
| 2022 | -13.7% | -18.2% |
| 2023 | +3.8% | +26.3% |
| 2024 | -2.4% | +24.9% |
| 2025 | +28.0% | +17.8% |
| 2026 | +27.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and IVV good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IBB and IVV?
The IBB/IVV correlation stands at 0.56 on a 3-year window (1 year: 0.35, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is IVV a good diversifier for IBB?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
How much do IBB and IVV overlap?
The two funds share 9 holdings amounting to 1.2% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
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Hubs: IBB correlations · IVV correlations
