IVV vs QQQ: Correlation & Overlap
How closely do iShares Core S&P 500 ETF (IVV) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.95, which is very strong. The two funds also share 53.4% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and QQQ?
Over the past 3 years, IVV and QQQ moved with a correlation of 0.95, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.93) sits close to the 3-year figure. Over 5 years the correlation is 0.95, and the annualized covariance of weekly returns is 269.4 %².
Within IVV's tracked universe of 122 assets, QQQ comes in at #9 by 3-year correlation. On 12-month performance QQQ holds a 5.6-point edge, +20.7% against +26.3%. Stability stands out here, with the rolling one-year correlation confined to 0.89 through 0.97.
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 QQQ: side by side
| IVV (iShares Core S&P 500 ETF) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.7% | +26.3% |
| 5-year return | +83.0% | +95.4% |
| Volatility (ann.) | 14.5% | 19.6% |
| Beta vs S&P 500 | 1.00 | 1.28 |
| Max drawdown (3Y) | -18.8% | -22.8% |
| Dividend yield | 1.09% | 0.44% |
| Expense ratio | 0.03% | 0.18% |
| Assets under management | $869.2B | $452.8B |
| Sector / category | ETF · US Large Cap | ETF · US Growth & Tech |
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. QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Portfolio overlap between IVV and QQQ
The two portfolios overlap heavily: 53.4% of the funds' weight sits in the same underlying holdings (87 common positions). Correlation tells you they move together; overlap tells you why.
| Common holding | Weight in IVV | Weight in QQQ |
|---|---|---|
| NVDA | 7.67% | 8.15% |
| AAPL | 6.96% | 7.39% |
| MSFT | 5.57% | 5.93% |
| AMZN | 3.85% | 4.50% |
| GOOGL | 3.03% | 3.20% |
| AVGO | 2.54% | 2.71% |
| GOOG | 2.42% | 2.97% |
| META | 1.91% | 2.74% |
| MU | 1.60% | 4.69% |
| TSLA | 1.47% | 2.77% |
| AMD | 1.18% | 3.48% |
| WMT | 0.69% | 2.26% |
| CSCO | 0.67% | 1.96% |
| INTC | 0.66% | 1.97% |
| COST | 0.64% | 1.88% |
Largest positions held only by IVV: JPM (1.44%), LLY (1.42%), BRK.B (1.40%), XOM (0.99%), JNJ (0.98%). Only by QQQ: SPCX (1.19%), SHOP (0.81%), ASML (0.71%), ARM (0.47%), MELI (0.44%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | IVV | QQQ |
|---|---|---|
| 2022 | -18.2% | -32.6% |
| 2023 | +26.3% | +54.9% |
| 2024 | +24.9% | +25.6% |
| 2025 | +17.8% | +20.8% |
| 2026 | +13.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and QQQ good diversifiers for each other?
No. With a correlation of 0.95, IVV and QQQ move nearly in lockstep, so holding both adds very little diversification. They also hold much of the same portfolio (53.4% overlap), so the exposure is doubly redundant.
FAQ
What is the correlation between IVV and QQQ?
As of 2026-08-27, the correlation of weekly returns between IVV and QQQ is 0.95 over 3 years, 0.93 over 1 year and 0.95 over 5 years.
Is QQQ a good diversifier for IVV?
No. With a correlation of 0.95, IVV and QQQ move nearly in lockstep, so holding both adds very little diversification. They also hold much of the same portfolio (53.4% overlap), so the exposure is doubly redundant.
How much do IVV and QQQ overlap?
The two funds share 87 holdings amounting to 53.4% of weight, per issuer portfolio files dated 2026-08-26.
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Related comparisons
Hubs: IVV correlations · QQQ correlations
