RSP vs SPYV: Correlation & Overlap
Invesco S&P 500 Equal Weight ETF (RSP) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a very strong relationship: their 3-year correlation of weekly returns is 0.96. Looking through to holdings, 53.2% 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 RSP and SPYV?
Across a 3-year window, the weekly returns of RSP and SPYV correlate at 0.96, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.93 lands near the 3-year figure. Stretching to 5 years gives 0.97, with an annualized covariance of 153.7 %².
SPYV is one of the assets that tracks RSP most closely: it ranks #2 out of the 250 assets we track against RSP. Their 12-month results are close: +19.2% for RSP against +18.5% for SPYV. The link looks structural: the rolling one-year correlation barely moved, holding between 0.93 and 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.
RSP vs SPYV: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +19.2% | +18.5% |
| 5-year return | +53.9% | +73.5% |
| Volatility (ann.) | 13.2% | 12.1% |
| Beta vs S&P 500 | 0.77 | 0.70 |
| Max drawdown (3Y) | -17.8% | -17.5% |
| Dividend yield | 1.49% | 1.69% |
| Expense ratio | 0.20% | 0.04% |
| Assets under management | $97.3B | $36.2B |
| Sector / category | ETF · US Large Cap | ETF · US Style |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% 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 RSP and SPYV
The two portfolios overlap heavily, with 437 holdings in common adding up to 53.2% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in RSP | Weight in SPYV |
|---|---|---|
| MPC | 0.26% | 0.35% |
| REGN | 0.25% | 0.27% |
| VLO | 0.25% | 0.34% |
| PSX | 0.25% | 0.32% |
| TMO | 0.24% | 0.78% |
| AMGN | 0.24% | 0.25% |
| TGT | 0.24% | 0.25% |
| PANW | 0.24% | 0.40% |
| MRK | 0.24% | 1.25% |
| ABT | 0.24% | 0.65% |
| FCX | 0.24% | 0.37% |
| VRTX | 0.23% | 0.46% |
| DELL | 0.23% | 0.44% |
| SCHW | 0.23% | 0.59% |
| COF | 0.23% | 0.45% |
Largest positions held only by RSP: DASH (0.29%), EXPE (0.28%), NEM (0.26%), PLTR (0.25%), ANET (0.25%). 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 | RSP | SPYV |
|---|---|---|
| 2022 | -11.6% | -5.3% |
| 2023 | +13.7% | +22.2% |
| 2024 | +12.8% | +12.2% |
| 2025 | +11.2% | +13.2% |
| 2026 | +16.5% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and SPYV good diversifiers for each other?
No: a correlation of 0.96 means RSP and SPYV tend to fall together, which is precisely when diversification is supposed to help. On top of that, 53.2% of their holdings are the same, making the doubling-up even more literal.
FAQ
What is the correlation between RSP and SPYV?
As of 2026-08-27, the correlation of weekly returns between RSP and SPYV is 0.96 over 3 years, 0.93 over 1 year and 0.97 over 5 years.
Is SPYV a good diversifier for RSP?
No: a correlation of 0.96 means RSP and SPYV tend to fall together, which is precisely when diversification is supposed to help. On top of that, 53.2% of their holdings are the same, making the doubling-up even more literal.
How much do RSP and SPYV overlap?
53.2% by weight, across 437 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rsp-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rsp-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · SPYV correlations
