IVV vs NIE: Correlation
iShares Core S&P 500 ETF (IVV) and Virtus Equity & Convertible Income Fund (NIE) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and NIE?
Across a 3-year window, the weekly returns of IVV and NIE correlate at 0.89, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. Stretching to 5 years gives 0.91, with an annualized covariance of 193.1 %².
Among the 122 assets we track against IVV, NIE ranks #19 by 3-year correlation. Their 12-month results are close: +20.7% for IVV against +16.8% for NIE.
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.
IVV vs NIE: side by side
| IVV (iShares Core S&P 500 ETF) | NIE (Virtus Equity & Convertible Income Fund) | |
|---|---|---|
| 1-year return | +20.7% | +16.8% |
| 5-year return | +83.0% | +55.1% |
| Volatility (ann.) | 14.5% | 14.9% |
| Beta vs S&P 500 | 1.00 | 0.92 |
| Max drawdown (3Y) | -18.8% | -20.8% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 1.09% | 0.00% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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.
Year-by-year returns
| Year | IVV | NIE |
|---|---|---|
| 2022 | -18.2% | -26.7% |
| 2023 | +26.3% | +26.7% |
| 2024 | +24.9% | +28.6% |
| 2025 | +17.8% | +12.2% |
| 2026 | +13.7% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and NIE good diversifiers for each other?
No: a correlation of 0.89 means IVV and NIE tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between IVV and NIE?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.83 over the last year and 0.91 over 5 years.
Is NIE a good diversifier for IVV?
No: a correlation of 0.89 means IVV and NIE tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
A reading of 0.89 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ivv-vs-nie.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ivv-vs-nie/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IVV correlations · NIE correlations
