IVV vs SOXX: Correlation & Overlap
iShares Core S&P 500 ETF (IVV) and iShares Semiconductor ETF (SOXX) show a strong relationship: their 3-year correlation of weekly returns is 0.79. Looking through to holdings, 16.8% of the two portfolios is the same by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and SOXX?
On 3 years of weekly data the IVV/SOXX correlation comes out at 0.79, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.79 over 3. The 5-year figure is 0.79, and annualized covariance runs at 404.2 %².
Among the 122 assets we track against IVV, SOXX ranks #35 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SOXX outperformed by 89.3 percentage points (+20.7% for IVV against +110.0% for SOXX). Stability stands out here, with the rolling one-year correlation confined to 0.68 through 0.89. Note the risk asymmetry: SOXX runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SOXX: side by side
| IVV (iShares Core S&P 500 ETF) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +20.7% | +110.0% |
| 5-year return | +83.0% | +247.5% |
| Volatility (ann.) | 14.5% | 35.2% |
| Beta vs S&P 500 | 1.00 | 1.93 |
| Max drawdown (3Y) | -18.8% | -41.4% |
| Dividend yield | 1.09% | 0.29% |
| Expense ratio | 0.03% | 0.33% |
| Assets under management | $869.2B | $44.7B |
| Sector / category | ETF · US Large Cap | ETF · Thematic |
On the fund side, IVV sits in the Large Blend category at iShares, with $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield. On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Portfolio overlap between IVV and SOXX
The two portfolios partially overlap: 16.8% of the funds' weight sits in the same underlying holdings (18 common positions). Correlation tells you they move together; overlap tells you why.
| Common holding | Weight in IVV | Weight in SOXX |
|---|---|---|
| NVDA | 7.67% | 8.87% |
| AVGO | 2.54% | 7.11% |
| MU | 1.60% | 8.64% |
| AMD | 1.18% | 8.33% |
| INTC | 0.66% | 4.97% |
| LRCX | 0.59% | 4.39% |
| AMAT | 0.58% | 4.76% |
| TXN | 0.36% | 3.83% |
| KLAC | 0.36% | 4.27% |
| MRVL | 0.32% | 5.34% |
| ADI | 0.27% | 4.01% |
| QCOM | 0.26% | 2.91% |
| MPWR | 0.10% | 3.43% |
| TER | 0.09% | 3.14% |
| NXPI | 0.09% | 3.10% |
Largest positions held only by IVV: AAPL (6.96%), MSFT (5.57%), AMZN (3.85%), GOOGL (3.03%), GOOG (2.42%). Only by SOXX: TSM (4.64%), ASML (2.51%), ALAB (2.26%), CRDO (2.08%), ASX (1.25%).
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 | SOXX |
|---|---|---|
| 2022 | -18.2% | -35.1% |
| 2023 | +26.3% | +67.1% |
| 2024 | +24.9% | +12.9% |
| 2025 | +17.8% | +40.7% |
| 2026 | +13.7% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and SOXX good diversifiers for each other?
Only partially. A correlation of 0.79 means IVV and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IVV and SOXX?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.71 over the last year and 0.79 over 5 years.
Is SOXX a good diversifier for IVV?
Only partially. A correlation of 0.79 means IVV and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
How much do IVV and SOXX overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 16.8% by weight over 18 common positions.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ivv-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ivv-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IVV correlations · SOXX correlations
