SPYV vs STEW: Correlation
SPDR Portfolio S&P 500 Value ETF (SPYV) and SRH Total Return Fund, Inc. (STEW) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYV and STEW?
Over the past 3 years, SPYV and STEW moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.72 over 1 year against 0.82 over 3. Over 5 years the correlation is 0.87, and the annualized covariance of weekly returns is 141.1 %².
Within SPYV's tracked universe of 148 assets, STEW comes in at #22 by 3-year correlation. The trailing year gives SPYV the advantage: +18.5% versus +5.2%, a 13.3-point spread.
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.
SPYV vs STEW: side by side
| SPYV (SPDR Portfolio S&P 500 Value ETF) | STEW (SRH Total Return Fund, Inc.) | |
|---|---|---|
| 1-year return | +18.5% | +5.2% |
| 5-year return | +73.5% | +61.2% |
| Volatility (ann.) | 12.1% | 14.1% |
| Beta vs S&P 500 | 0.70 | 0.67 |
| Max drawdown (3Y) | -17.5% | -10.5% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | 1.69% | 3.91% |
| Expense ratio | 0.04% | – |
| Assets under management | $36.2B | – |
| Sector / category | ETF · US Style | US Listed |
SPYV is a Large Value fund from State Street Investment Management: $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | SPYV | STEW |
|---|---|---|
| 2022 | -5.3% | -7.3% |
| 2023 | +22.2% | +13.5% |
| 2024 | +12.2% | +19.9% |
| 2025 | +13.2% | +20.3% |
| 2026 | +12.7% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPYV and STEW good diversifiers for each other?
No: a correlation of 0.82 means SPYV and STEW tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between SPYV and STEW?
The SPYV/STEW correlation stands at 0.82 on a 3-year window (1 year: 0.72, 5 years: 0.87), computed from weekly returns as of 2026-08-27.
Is STEW a good diversifier for SPYV?
No: a correlation of 0.82 means SPYV and STEW tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spyv-vs-stew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spyv-vs-stew/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPYV correlations · STEW correlations
