IVV vs SPYV: Correlation & Overlap
iShares Core S&P 500 ETF (IVV) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a very strong relationship: their 3-year correlation of weekly returns is 0.83. By holdings, the two funds overlap 59.6% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and SPYV?
Across a 3-year window, the weekly returns of IVV and SPYV correlate at 0.83, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Stretching to 5 years gives 0.89, with an annualized covariance of 146.8 %².
Within IVV's tracked universe of 122 assets, SPYV comes in at #28 by 3-year correlation. Their 12-month results are close: +20.7% for IVV against +18.5% for SPYV. Across three years, the rolling one-year figure varied moderately, from 0.62 to 0.96.
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 SPYV: side by side
| IVV (iShares Core S&P 500 ETF) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +20.7% | +18.5% |
| 5-year return | +83.0% | +73.5% |
| Volatility (ann.) | 14.5% | 12.1% |
| Beta vs S&P 500 | 1.00 | 0.70 |
| Max drawdown (3Y) | -18.8% | -17.5% |
| Dividend yield | 1.09% | 1.69% |
| Expense ratio | 0.03% | 0.04% |
| Assets under management | $869.2B | $36.2B |
| Sector / category | ETF · US Large Cap | ETF · US Style |
IVV, iShares's Large Blend fund, carries $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield. SPYV, State Street Investment Management's Large Value fund, carries $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Portfolio overlap between IVV and SPYV
The two portfolios overlap heavily, with 437 holdings in common adding up to 59.6% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in IVV | Weight in SPYV |
|---|---|---|
| AAPL | 6.96% | 7.58% |
| AMZN | 3.85% | 3.95% |
| TSLA | 1.47% | 1.22% |
| JPM | 1.44% | 1.01% |
| XOM | 0.99% | 2.16% |
| V | 0.96% | 0.94% |
| JNJ | 0.98% | 0.88% |
| ABBV | 0.70% | 0.83% |
| WMT | 0.69% | 1.51% |
| CSCO | 0.67% | 0.69% |
| INTC | 0.66% | 1.44% |
| COST | 0.64% | 1.40% |
| BAC | 0.61% | 1.34% |
| MRK | 0.57% | 1.25% |
| CVX | 0.57% | 1.23% |
Largest positions held only by IVV: NVDA (7.67%), MSFT (5.57%), GOOGL (3.03%), AVGO (2.54%), GOOG (2.42%). Only by SPYV: 2602335D (0.00%).
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 | SPYV |
|---|---|---|
| 2022 | -18.2% | -5.3% |
| 2023 | +26.3% | +22.2% |
| 2024 | +24.9% | +12.2% |
| 2025 | +17.8% | +13.2% |
| 2026 | +13.7% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and SPYV good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection. On top of that, 59.6% of their holdings are the same, making the doubling-up even more literal.
FAQ
What is the correlation between IVV and SPYV?
As of 2026-08-27, the correlation of weekly returns between IVV and SPYV is 0.83 over 3 years, 0.76 over 1 year and 0.89 over 5 years.
Is SPYV a good diversifier for IVV?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection. On top of that, 59.6% of their holdings are the same, making the doubling-up even more literal.
How much do IVV and SPYV overlap?
59.6% by weight, across 437 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
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Related comparisons
Hubs: IVV correlations · SPYV correlations
