IVZ vs SPYV: Correlation
Invesco (IVZ) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVZ and SPYV?
On 3 years of weekly data the IVZ/SPYV correlation comes out at 0.65, strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.65 over 3 years. The 5-year figure is 0.67, and annualized covariance runs at 258.4 %².
By 3-year correlation, SPYV places #11 of the 33 assets tracked against IVZ. The last year tells two different stories: IVZ led by 37.4 percentage points, +55.9% for IVZ against +18.5% for SPYV. The rolling one-year correlation moved between 0.46 and 0.76 over the past three years, a moderate range. One caveat on sizing: IVZ is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IVZ vs SPYV: side by side
| IVZ (Invesco) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +55.9% | +18.5% |
| 5-year return | +63.7% | +73.5% |
| Volatility (ann.) | 32.6% | 12.1% |
| Beta vs S&P 500 | 1.29 | 0.70 |
| Max drawdown (3Y) | -36.5% | -17.5% |
| Market cap | $14.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.58% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Financials | ETF · US Style |
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.
Year-by-year returns
| Year | IVZ | SPYV |
|---|---|---|
| 2022 | -18.7% | -5.3% |
| 2023 | +4.2% | +22.2% |
| 2024 | +3.0% | +12.2% |
| 2025 | +56.9% | +13.2% |
| 2026 | +29.7% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVZ and SPYV good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IVZ and SPYV?
The IVZ/SPYV correlation stands at 0.65 on a 3-year window (1 year: 0.52, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for IVZ?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ivz-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ivz-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IVZ correlations · SPYV correlations
