SOXX vs VEA: Correlation & Overlap
iShares Semiconductor ETF (SOXX) and Vanguard FTSE Developed Markets ETF (VEA) show a strong relationship: their 3-year correlation of weekly returns is 0.66. By holdings, the two funds overlap 2.1% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SOXX and VEA?
Across a 3-year window, the weekly returns of SOXX and VEA correlate at 0.66, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.66 over 3. Stretching to 5 years gives 0.69, with an annualized covariance of 349.9 %².
Within SOXX's tracked universe of 127 assets, VEA comes in at #59 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SOXX ahead by 81.5 points (+110.0% versus +28.5%). On a rolling one-year basis the correlation drifted between 0.44 and 0.77, a moderate band. Note the risk asymmetry: SOXX runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SOXX vs VEA: side by side
| SOXX (iShares Semiconductor ETF) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +110.0% | +28.5% |
| 5-year return | +247.5% | +63.5% |
| Volatility (ann.) | 35.2% | 15.1% |
| Beta vs S&P 500 | 1.93 | 0.79 |
| Max drawdown (3Y) | -41.4% | -13.5% |
| Dividend yield | 0.29% | 2.56% |
| Expense ratio | 0.33% | 0.03% |
| Assets under management | $44.7B | $314.9B |
| Sector / category | ETF · Thematic | ETF · International |
On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield. VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Portfolio overlap between SOXX and VEA
The two portfolios are largely distinct, with 4 holdings in common adding up to 2.1% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
Largest positions held only by SOXX: NVDA (8.87%), MU (8.64%), AMD (8.33%), AVGO (7.11%), MRVL (5.34%). Only by VEA: 005930 (2.53%), 000660 (1.98%), HSBA (1.15%), ROP (0.97%), SAN (0.94%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 4 common positions shown.
Year-by-year returns
| Year | SOXX | VEA |
|---|---|---|
| 2022 | -35.1% | -15.3% |
| 2023 | +67.1% | +17.9% |
| 2024 | +12.9% | +3.1% |
| 2025 | +40.7% | +35.2% |
| 2026 | +74.7% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SOXX and VEA good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SOXX and VEA?
The SOXX/VEA correlation stands at 0.66 on a 3-year window (1 year: 0.68, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is VEA a good diversifier for SOXX?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
How much do SOXX and VEA overlap?
The two funds share 4 holdings amounting to 2.1% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/soxx-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/soxx-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SOXX correlations · VEA correlations
