IEMG vs VTV: Correlation & Overlap
iShares Core MSCI Emerging Markets ETF (IEMG) and Vanguard Value ETF (VTV) show a moderate relationship: their 3-year correlation of weekly returns is 0.59. 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 IEMG and VTV?
On 3 years of weekly data the IEMG/VTV correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 122.2 %².
By 3-year correlation, VTV places #38 of the 68 assets tracked against IEMG. The trailing year gives IEMG the advantage: +36.0% versus +25.7%, a 10.3-point spread. The rolling one-year correlation moved between 0.41 and 0.79 over the past three years, a moderate range.
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.
IEMG vs VTV: side by side
| IEMG (iShares Core MSCI Emerging Markets ETF) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +36.0% | +25.7% |
| 5-year return | +50.7% | +79.1% |
| Volatility (ann.) | 17.4% | 11.9% |
| Beta vs S&P 500 | 0.84 | 0.65 |
| Max drawdown (3Y) | -17.2% | -14.5% |
| Dividend yield | 2.31% | 1.86% |
| Expense ratio | 0.09% | 0.03% |
| Assets under management | $152.2B | $256.4B |
| Sector / category | ETF · International | ETF · US Style |
IEMG is a Diversified Emerging Mkts fund from iShares: $152.2B under management, 1824 holdings, a 0.09% expense ratio, a 2.31% 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 IEMG and VTV
The two portfolios are largely distinct, with 6 holdings in common adding up to 0.1% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in IEMG | Weight in VTV |
|---|---|---|
| HAL | 0.06% | 0.09% |
| BDX | 0.02% | 0.17% |
| TEL | 0.01% | 0.22% |
| LULU | 0.01% | 0.01% |
| SRE | 0.01% | 0.22% |
| CCL | 0.01% | 0.13% |
Largest positions held only by IEMG: 2330 (13.28%), 005930 (6.27%), 000660 (4.78%), 700 (2.49%), 9988 (1.77%). 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. Top 6 common positions shown.
Year-by-year returns
| Year | IEMG | VTV |
|---|---|---|
| 2022 | -20.0% | -2.1% |
| 2023 | +11.5% | +9.3% |
| 2024 | +6.5% | +16.0% |
| 2025 | +32.6% | +15.3% |
| 2026 | +23.6% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEMG and VTV good diversifiers for each other?
To a limited degree. At 0.59 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 IEMG and VTV?
As of 2026-08-27, the correlation of weekly returns between IEMG and VTV is 0.59 over 3 years, 0.57 over 1 year and 0.57 over 5 years.
Is VTV a good diversifier for IEMG?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
How much do IEMG and VTV overlap?
0.1% by weight, across 6 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
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Hubs: IEMG correlations · VTV correlations
