IDE vs SPY: Correlation
How closely do Voya Infrastructure, Industrials and Materials Fund (IDE) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDE and SPY?
On 3 years of weekly data the IDE/SPY correlation comes out at 0.65, strong. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 152.6 %².
Within IDE's tracked universe of 13 assets, SPY comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +17.0% for IDE and +20.6% for SPY.
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.
IDE vs SPY: side by side
| IDE (Voya Infrastructure, Industrials and Materials Fund) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +17.0% | +20.6% |
| 5-year return | +66.9% | +82.4% |
| Volatility (ann.) | 16.3% | 14.5% |
| Beta vs S&P 500 | 0.73 | 1.00 |
| Max drawdown (3Y) | -18.3% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 3.2 | – |
| 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 | IDE | SPY |
|---|---|---|
| 2022 | -16.5% | -18.2% |
| 2023 | +22.0% | +26.2% |
| 2024 | +10.9% | +24.9% |
| 2025 | +34.6% | +17.7% |
| 2026 | +13.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDE and SPY good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IDE and SPY?
As of 2026-08-27, the correlation of weekly returns between IDE and SPY is 0.65 over 3 years, 0.57 over 1 year and 0.70 over 5 years.
Is SPY a good diversifier for IDE?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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: IDE correlations · SPY correlations
