IVV vs VOO: Correlation & Overlap
iShares Core S&P 500 ETF (IVV) and Vanguard S&P 500 ETF (VOO) show a very strong relationship: their 3-year correlation of weekly returns is 1.00. The two funds also share 97.0% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and VOO?
On 3 years of weekly data the IVV/VOO correlation comes out at 1.00, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 1.00 over 1 year against 1.00 over 3. The 5-year figure is 1.00, and annualized covariance runs at 208.7 %².
VOO is one of the assets that tracks IVV most closely: it ranks #2 out of the 122 assets we track against IVV. Twelve-month performance is nearly a tie, at +20.7% for IVV and +20.6% for VOO. The link looks structural: the rolling one-year correlation barely moved, holding between 1.00 and 1.00.
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 VOO: side by side
| IVV (iShares Core S&P 500 ETF) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +20.7% | +20.6% |
| 5-year return | +83.0% | +83.0% |
| Volatility (ann.) | 14.5% | 14.4% |
| Beta vs S&P 500 | 1.00 | 0.99 |
| Max drawdown (3Y) | -18.8% | -18.7% |
| Dividend yield | 1.09% | 1.07% |
| Expense ratio | 0.03% | 0.03% |
| Assets under management | $869.2B | $1,686.9B |
| Sector / category | ETF · US Large Cap | ETF · US Large Cap |
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. VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Portfolio overlap between IVV and VOO
The two portfolios are near-duplicates: 97.0% of the funds' weight sits in the same underlying holdings (500 common positions). Correlation tells you they move together; overlap tells you why.
| Common holding | Weight in IVV | Weight in VOO |
|---|---|---|
| NVDA | 7.67% | 7.56% |
| AAPL | 6.96% | 7.05% |
| MSFT | 5.57% | 5.37% |
| AMZN | 3.85% | 4.13% |
| GOOGL | 3.03% | 3.25% |
| AVGO | 2.54% | 2.87% |
| GOOG | 2.42% | 2.62% |
| META | 1.91% | 1.90% |
| MU | 1.60% | 1.44% |
| JPM | 1.44% | 1.47% |
| LLY | 1.42% | 1.41% |
| BRK.B | 1.40% | 1.46% |
| TSLA | 1.47% | 1.36% |
| AMD | 1.18% | 1.21% |
| XOM | 0.99% | 1.00% |
Largest positions held only by IVV: FERG (0.07%), VMRK (0.07%), RDDT (0.03%). Only by VOO: EA (0.07%), AVB (0.04%), EQR (0.04%).
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 | VOO |
|---|---|---|
| 2022 | -18.2% | -18.2% |
| 2023 | +26.3% | +26.3% |
| 2024 | +24.9% | +25.0% |
| 2025 | +17.8% | +17.8% |
| 2026 | +13.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and VOO good diversifiers for each other?
No. With a correlation of 1.00, IVV and VOO move nearly in lockstep, so holding both adds very little diversification. The 97.0% holdings overlap makes the redundancy concrete: much of it is the same book twice.
FAQ
What is the correlation between IVV and VOO?
As of 2026-08-27, the correlation of weekly returns between IVV and VOO is 1.00 over 3 years, 1.00 over 1 year and 1.00 over 5 years.
Is VOO a good diversifier for IVV?
No. With a correlation of 1.00, IVV and VOO move nearly in lockstep, so holding both adds very little diversification. The 97.0% holdings overlap makes the redundancy concrete: much of it is the same book twice.
How much do IVV and VOO overlap?
The two funds share 500 holdings amounting to 97.0% of weight, per issuer portfolio files dated 2026-08-26.
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Hubs: IVV correlations · VOO correlations
