IVV vs RSP: Correlation & Overlap
iShares Core S&P 500 ETF (IVV) and Invesco S&P 500 Equal Weight ETF (RSP) show a very strong relationship: their 3-year correlation of weekly returns is 0.85. By holdings, the two funds overlap 44.8% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and RSP?
Across a 3-year window, the weekly returns of IVV and RSP correlate at 0.85, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.72) than the 3-year average (0.85). Stretching to 5 years gives 0.91, with an annualized covariance of 162.1 %².
Among the 122 assets we track against IVV, RSP ranks #24 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.7% for IVV and +19.2% for RSP. The link looks structural: the rolling one-year correlation barely moved, holding between 0.72 and 0.95.
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 RSP: side by side
| IVV (iShares Core S&P 500 ETF) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +20.7% | +19.2% |
| 5-year return | +83.0% | +53.9% |
| Volatility (ann.) | 14.5% | 13.2% |
| Beta vs S&P 500 | 1.00 | 0.77 |
| Max drawdown (3Y) | -18.8% | -17.8% |
| Dividend yield | 1.09% | 1.49% |
| Expense ratio | 0.03% | 0.20% |
| Assets under management | $869.2B | $97.3B |
| Sector / category | ETF · US Large Cap | ETF · US Large Cap |
IVV, iShares's Large Blend fund, carries $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield. On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Portfolio overlap between IVV and RSP
The two portfolios overlap heavily, with 503 holdings in common adding up to 44.8% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in IVV | Weight in RSP |
|---|---|---|
| PLTR | 0.62% | 0.25% |
| ANET | 0.32% | 0.25% |
| TMO | 0.36% | 0.24% |
| AMGN | 0.36% | 0.24% |
| PANW | 0.42% | 0.24% |
| BKNG | 0.24% | 0.24% |
| MRK | 0.57% | 0.24% |
| ABT | 0.30% | 0.24% |
| MSFT | 5.57% | 0.23% |
| SCHW | 0.27% | 0.23% |
| MA | 0.73% | 0.23% |
| GILD | 0.28% | 0.23% |
| CRM | 0.25% | 0.22% |
| RTX | 0.43% | 0.22% |
| V | 0.96% | 0.22% |
Largest positions held only by IVV: . Only by RSP: LWEU6 (0.21%), AGPXX (0.12%).
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 | RSP |
|---|---|---|
| 2022 | -18.2% | -11.6% |
| 2023 | +26.3% | +13.7% |
| 2024 | +24.9% | +12.8% |
| 2025 | +17.8% | +11.2% |
| 2026 | +13.7% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and RSP good diversifiers for each other?
No. With a correlation of 0.85, IVV and RSP move nearly in lockstep, so holding both adds very little diversification. On top of that, 44.8% of their holdings are the same, making the doubling-up even more literal.
FAQ
What is the correlation between IVV and RSP?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.72 over the last year and 0.91 over 5 years.
Is RSP a good diversifier for IVV?
No. With a correlation of 0.85, IVV and RSP move nearly in lockstep, so holding both adds very little diversification. On top of that, 44.8% of their holdings are the same, making the doubling-up even more literal.
How much do IVV and RSP overlap?
The two funds share 503 holdings amounting to 44.8% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ivv-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ivv-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IVV correlations · RSP correlations
