IVV vs SCHD: Correlation & Overlap
iShares Core S&P 500 ETF (IVV) and Schwab US Dividend Equity ETF (SCHD) show a moderate relationship: their 3-year correlation of weekly returns is 0.58. The two funds also share 8.1% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and SCHD?
Across a 3-year window, the weekly returns of IVV and SCHD correlate at 0.58, moderate. The past 12 months show a weaker link (0.19) than the 3-year average (0.58). Stretching to 5 years gives 0.75, with an annualized covariance of 109.3 %².
Among the 122 assets we track against IVV, SCHD ranks #68 by 3-year correlation. On 12-month performance SCHD holds a 8.9-point edge, +20.7% against +29.6%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.22 to 0.89.
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 SCHD: side by side
| IVV (iShares Core S&P 500 ETF) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +20.7% | +29.6% |
| 5-year return | +83.0% | +60.9% |
| Volatility (ann.) | 14.5% | 12.9% |
| Beta vs S&P 500 | 1.00 | 0.52 |
| Max drawdown (3Y) | -18.8% | -16.1% |
| Dividend yield | 1.09% | 3.13% |
| Expense ratio | 0.03% | 0.06% |
| Assets under management | $869.2B | $104.2B |
| Sector / category | ETF · US Large Cap | ETF · Dividend |
IVV, iShares's Large Blend fund, carries $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield. SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Portfolio overlap between IVV and SCHD
The two portfolios are largely distinct: 8.1% of the funds' weight sits in the same underlying holdings (46 common positions). Correlation tells you they move together; overlap tells you why.
| Common holding | Weight in IVV | Weight in SCHD |
|---|---|---|
| MRK | 0.57% | 4.92% |
| CVX | 0.57% | 3.89% |
| UNH | 0.55% | 3.92% |
| KO | 0.53% | 4.22% |
| PG | 0.51% | 3.81% |
| HD | 0.50% | 3.94% |
| AMGN | 0.36% | 4.80% |
| TXN | 0.36% | 3.13% |
| VZ | 0.32% | 3.97% |
| ABT | 0.30% | 4.83% |
| PEP | 0.29% | 3.68% |
| QCOM | 0.26% | 2.41% |
| COP | 0.24% | 3.86% |
| BMY | 0.21% | 3.35% |
| ACN | 0.17% | 2.70% |
Largest positions held only by IVV: NVDA (7.67%), AAPL (6.96%), MSFT (5.57%), AMZN (3.85%), GOOGL (3.03%). Only by SCHD: EWBC (0.43%), DINO (0.36%), FNF (0.29%), WSO (0.27%), AFG (0.24%).
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 | SCHD |
|---|---|---|
| 2022 | -18.2% | -3.3% |
| 2023 | +26.3% | +4.5% |
| 2024 | +24.9% | +11.7% |
| 2025 | +17.8% | +4.3% |
| 2026 | +13.7% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and SCHD good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IVV and SCHD?
As of 2026-08-27, the correlation of weekly returns between IVV and SCHD is 0.58 over 3 years, 0.19 over 1 year and 0.75 over 5 years.
Is SCHD a good diversifier for IVV?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
How much do IVV and SCHD overlap?
8.1% by weight, across 46 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ivv-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ivv-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IVV correlations · SCHD correlations
