SPYV vs VTI: Correlation & Overlap
How closely do SPDR Portfolio S&P 500 Value ETF (SPYV) and Vanguard Total Stock Market ETF (VTI) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong. By holdings, the two funds overlap 53.9% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYV and VTI?
Over the past 3 years, SPYV and VTI moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.86 over 3. Over 5 years the correlation is 0.90, and the annualized covariance of weekly returns is 151.8 %².
By 3-year correlation, VTI places #14 of the 148 assets tracked against SPYV. Their 12-month results are close: +18.5% for SPYV against +20.7% for VTI. The rolling one-year correlation moved between 0.67 and 0.97 over the past three years, a moderate range.
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 VTI: side by side
| SPYV (SPDR Portfolio S&P 500 Value ETF) | VTI (Vanguard Total Stock Market ETF) | |
|---|---|---|
| 1-year return | +18.5% | +20.7% |
| 5-year return | +73.5% | +74.8% |
| Volatility (ann.) | 12.1% | 14.6% |
| Beta vs S&P 500 | 0.70 | 1.01 |
| Max drawdown (3Y) | -17.5% | -19.3% |
| Dividend yield | 1.69% | 1.06% |
| Expense ratio | 0.04% | 0.03% |
| Assets under management | $36.2B | $2,290.0B |
| Sector / category | ETF · US Style | ETF · US Large Cap |
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. VTI, Vanguard's Large Blend fund, carries $2,290.0B under management, 3140 holdings, a 0.03% expense ratio, a 1.06% trailing dividend yield.
Portfolio overlap between SPYV and VTI
The two portfolios overlap heavily, with 434 holdings in common adding up to 53.9% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in SPYV | Weight in VTI |
|---|---|---|
| AAPL | 7.58% | 6.31% |
| AMZN | 3.95% | 3.66% |
| TSLA | 1.22% | 1.22% |
| JPM | 1.01% | 1.31% |
| XOM | 2.16% | 0.90% |
| JNJ | 0.88% | 0.86% |
| V | 0.94% | 0.83% |
| WMT | 1.51% | 0.68% |
| ABBV | 0.83% | 0.62% |
| COST | 1.40% | 0.59% |
| CSCO | 0.69% | 0.57% |
| BAC | 1.34% | 0.55% |
| MA | 0.53% | 0.63% |
| UNH | 1.20% | 0.52% |
| GE | 0.58% | 0.52% |
Largest positions held only by SPYV: NXPI (0.19%), VMRK (0.16%), AMCR (0.07%), 2602335D (0.00%). Only by VTI: NVDA (6.42%), MSFT (4.80%), GOOGL (2.91%), AVGO (2.56%), GOOG (2.32%).
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 | VTI |
|---|---|---|
| 2022 | -5.3% | -19.5% |
| 2023 | +22.2% | +26.0% |
| 2024 | +12.2% | +23.8% |
| 2025 | +13.2% | +17.1% |
| 2026 | +12.7% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPYV and VTI good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection. On top of that, 53.9% of their holdings are the same, making the doubling-up even more literal.
FAQ
What is the correlation between SPYV and VTI?
The SPYV/VTI correlation stands at 0.86 on a 3-year window (1 year: 0.79, 5 years: 0.90), computed from weekly returns as of 2026-08-27.
Is VTI a good diversifier for SPYV?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection. On top of that, 53.9% of their holdings are the same, making the doubling-up even more literal.
How much do SPYV and VTI overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 53.9% by weight over 434 common positions.
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Hubs: SPYV correlations · VTI correlations
