IVV vs VUG: Correlation & Overlap
iShares Core S&P 500 ETF (IVV) and Vanguard Growth ETF (VUG) show a very strong relationship: their 3-year correlation of weekly returns is 0.96. Looking through to holdings, 56.8% 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 VUG?
On 3 years of weekly data the IVV/VUG correlation comes out at 0.96, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.95 lands near the 3-year figure. The 5-year figure is 0.96, and annualized covariance runs at 269.5 %².
Within IVV's tracked universe of 122 assets, VUG comes in at #8 by 3-year correlation. Neither side won the trailing year by much: +20.7% against +16.2%. Stability stands out here, with the rolling one-year correlation confined to 0.93 through 0.98.
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 VUG: side by side
| IVV (iShares Core S&P 500 ETF) | VUG (Vanguard Growth ETF) | |
|---|---|---|
| 1-year return | +20.7% | +16.2% |
| 5-year return | +83.0% | +78.4% |
| Volatility (ann.) | 14.5% | 19.4% |
| Beta vs S&P 500 | 1.00 | 1.28 |
| Max drawdown (3Y) | -18.8% | -22.8% |
| Dividend yield | 1.09% | 0.40% |
| Expense ratio | 0.03% | 0.03% |
| Assets under management | $869.2B | $372.0B |
| Sector / category | ETF · US Large Cap | ETF · US Style |
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. VUG, Vanguard's Large Growth fund, carries $372.0B under management, 146 holdings, a 0.03% expense ratio, a 0.40% trailing dividend yield.
Portfolio overlap between IVV and VUG
The two portfolios overlap heavily. Weighing the shared positions, 56.8% of the two funds is identical, spread across 122 common holdings. That shared book is a large part of why the returns line up.
| Common holding | Weight in IVV | Weight in VUG |
|---|---|---|
| NVDA | 7.67% | 12.84% |
| AAPL | 6.96% | 12.63% |
| MSFT | 5.57% | 9.61% |
| AMZN | 3.85% | 5.16% |
| GOOGL | 3.03% | 5.81% |
| AVGO | 2.54% | 4.47% |
| GOOG | 2.42% | 4.64% |
| META | 1.91% | 3.41% |
| TSLA | 1.47% | 2.45% |
| LLY | 1.42% | 2.72% |
| AMD | 1.18% | 2.17% |
| V | 0.96% | 1.66% |
| MA | 0.73% | 1.28% |
| COST | 0.64% | 1.19% |
| PLTR | 0.62% | 0.76% |
Largest positions held only by IVV: MU (1.60%), JPM (1.44%), BRK.B (1.40%), XOM (0.99%), JNJ (0.98%). Only by VUG: SNOW (0.29%), NET (0.27%), SPCX (0.19%), BE (0.17%), WCN (0.14%).
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 | VUG |
|---|---|---|
| 2022 | -18.2% | -33.2% |
| 2023 | +26.3% | +46.8% |
| 2024 | +24.9% | +32.7% |
| 2025 | +17.8% | +19.4% |
| 2026 | +13.7% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and VUG good diversifiers for each other?
No: a correlation of 0.96 means IVV and VUG tend to fall together, which is precisely when diversification is supposed to help. They also hold much of the same portfolio (56.8% overlap), so the exposure is doubly redundant.
FAQ
What is the correlation between IVV and VUG?
The IVV/VUG correlation stands at 0.96 on a 3-year window (1 year: 0.95, 5 years: 0.96), computed from weekly returns as of 2026-08-27.
Is VUG a good diversifier for IVV?
No: a correlation of 0.96 means IVV and VUG tend to fall together, which is precisely when diversification is supposed to help. They also hold much of the same portfolio (56.8% overlap), so the exposure is doubly redundant.
How much do IVV and VUG overlap?
The two funds share 122 holdings amounting to 56.8% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
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Related comparisons
Hubs: IVV correlations · VUG correlations
