SPYV vs VEA: Correlation & Overlap
How closely do SPDR Portfolio S&P 500 Value ETF (SPYV) and Vanguard FTSE Developed Markets ETF (VEA) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong. The two funds also share 1.7% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYV and VEA?
Over the past 3 years, SPYV and VEA moved with a correlation of 0.76, which is strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 140.0 %².
Within SPYV's tracked universe of 148 assets, VEA comes in at #29 by 3-year correlation. On 12-month performance VEA holds a 10.0-point edge, +18.5% against +28.5%. On a rolling one-year basis the correlation drifted between 0.64 and 0.90, a moderate band.
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 VEA: side by side
| SPYV (SPDR Portfolio S&P 500 Value ETF) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +18.5% | +28.5% |
| 5-year return | +73.5% | +63.5% |
| Volatility (ann.) | 12.1% | 15.1% |
| Beta vs S&P 500 | 0.70 | 0.79 |
| Max drawdown (3Y) | -17.5% | -13.5% |
| Dividend yield | 1.69% | 2.56% |
| Expense ratio | 0.04% | 0.03% |
| Assets under management | $36.2B | $314.9B |
| Sector / category | ETF · US Style | ETF · International |
On the fund side, SPYV sits in the Large Value category at State Street Investment Management, with $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% 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 SPYV and VEA
The two portfolios are largely distinct: 1.7% of the funds' weight sits in the same underlying holdings (51 common positions). Correlation tells you they move together; overlap tells you why.
| Common holding | Weight in SPYV | Weight in VEA |
|---|---|---|
| BA | 0.31% | 0.26% |
| ROP | 0.14% | 0.97% |
| PRU | 0.14% | 0.13% |
| DTE | 0.09% | 0.33% |
| DG | 0.09% | 0.22% |
| PPL | 0.09% | 0.09% |
| EL | 0.09% | 0.17% |
| ALL | 0.22% | 0.08% |
| MRK | 1.25% | 0.07% |
| HBAN | 0.11% | 0.06% |
| L | 0.06% | 0.08% |
| TSCO | 0.06% | 0.13% |
| EQT | 0.11% | 0.06% |
| BG | 0.05% | 0.05% |
| ADM | 0.13% | 0.04% |
Largest positions held only by SPYV: AAPL (7.58%), AMZN (3.95%), XOM (2.16%), WMT (1.51%), INTC (1.44%). Only by VEA: 005930 (2.53%), ASML (2.00%), 000660 (1.98%), HSBA (1.15%), SAN (0.94%).
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 | SPYV | VEA |
|---|---|---|
| 2022 | -5.3% | -15.3% |
| 2023 | +22.2% | +17.9% |
| 2024 | +12.2% | +3.1% |
| 2025 | +13.2% | +35.2% |
| 2026 | +12.7% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPYV and VEA good diversifiers for each other?
To a limited degree. At 0.76 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 SPYV and VEA?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.75 over the last year and 0.80 over 5 years.
Is VEA a good diversifier for SPYV?
To a limited degree. At 0.76 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 SPYV and VEA overlap?
The two funds share 51 holdings amounting to 1.7% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spyv-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spyv-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPYV correlations · VEA correlations
