SPYG vs VTV: Correlation & Overlap
SPDR Portfolio S&P 500 Growth ETF (SPYG) and Vanguard Value ETF (VTV) show a strong relationship: their 3-year correlation of weekly returns is 0.61. The two funds also share 20.2% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYG and VTV?
Over the past 3 years, SPYG and VTV moved with a correlation of 0.61, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.61 over 3 years. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 136.7 %².
Within SPYG's tracked universe of 97 assets, VTV comes in at #55 by 3-year correlation. Neither side won the trailing year by much: +22.4% against +25.7%. On a rolling one-year basis the correlation drifted between 0.36 and 0.82, a moderate band. Risk is not evenly split, since SPYG carries 1.6 times the volatility of the other side.
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.
SPYG vs VTV: side by side
| SPYG (SPDR Portfolio S&P 500 Growth ETF) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +22.4% | +25.7% |
| 5-year return | +85.9% | +79.1% |
| Volatility (ann.) | 18.9% | 11.9% |
| Beta vs S&P 500 | 1.25 | 0.65 |
| Max drawdown (3Y) | -22.1% | -14.5% |
| Dividend yield | 0.49% | 1.86% |
| Expense ratio | 0.04% | 0.03% |
| Assets under management | $52.2B | $256.4B |
| Sector / category | ETF · US Style | ETF · US Style |
On the fund side, SPYG sits in the Large Growth category at State Street Investment Management, with $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield. On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Portfolio overlap between SPYG and VTV
The two portfolios partially overlap. Weighing the shared positions, 20.2% of the two funds is identical, spread across 57 common holdings. That shared book is a large part of why the returns line up.
| Common holding | Weight in SPYG | Weight in VTV |
|---|---|---|
| MU | 2.96% | 3.46% |
| BRK.B | 2.59% | 2.99% |
| JPM | 1.82% | 3.51% |
| JNJ | 1.07% | 2.30% |
| CAT | 1.06% | 1.40% |
| RTX | 0.80% | 1.08% |
| CSCO | 0.66% | 1.53% |
| ABBV | 0.60% | 1.65% |
| GS | 0.56% | 1.06% |
| GE | 0.54% | 0.70% |
| PM | 0.47% | 1.11% |
| AMGN | 0.45% | 0.77% |
| MS | 0.44% | 0.93% |
| KO | 0.41% | 1.12% |
| NEM | 0.39% | 0.37% |
Largest positions held only by SPYG: NVDA (14.21%), MSFT (10.32%), AAPL (6.44%), GOOGL (5.61%), AVGO (4.71%). Only by VTV: XOM (2.40%), WMT (1.82%), BAC (1.47%), UNH (1.40%), CVX (1.39%).
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 | SPYG | VTV |
|---|---|---|
| 2022 | -29.4% | -2.1% |
| 2023 | +30.0% | +9.3% |
| 2024 | +36.0% | +16.0% |
| 2025 | +22.1% | +15.3% |
| 2026 | +14.5% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPYG and VTV good diversifiers for each other?
Only partially. A correlation of 0.61 means SPYG and VTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SPYG and VTV?
As of 2026-08-27, the correlation of weekly returns between SPYG and VTV is 0.61 over 3 years, 0.37 over 1 year and 0.70 over 5 years.
Is VTV a good diversifier for SPYG?
Only partially. A correlation of 0.61 means SPYG and VTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
How much do SPYG and VTV overlap?
20.2% by weight, across 57 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
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Related comparisons
Hubs: SPYG correlations · VTV correlations
