ACWI vs BOE: Correlation
Measured on weekly returns over the past three years, iShares MSCI ACWI ETF (ACWI) and Blackrock Enhanced Global Dividend Trust (BOE) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and BOE?
On 3 years of weekly data the ACWI/BOE correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.88) sits close to the 3-year figure. The 5-year figure is 0.88, and annualized covariance runs at 165.2 %².
Within ACWI's tracked universe of 119 assets, BOE comes in at #21 by 3-year correlation. On 12-month performance ACWI holds a 5.0-point edge, +22.7% against +17.7%.
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.
ACWI vs BOE: side by side
| ACWI (iShares MSCI ACWI ETF) | BOE (Blackrock Enhanced Global Dividend Trust) | |
|---|---|---|
| 1-year return | +22.7% | +17.7% |
| 5-year return | +69.0% | +46.4% |
| Volatility (ann.) | 13.8% | 13.8% |
| Beta vs S&P 500 | 0.92 | 0.79 |
| Max drawdown (3Y) | -16.5% | -14.5% |
| Market cap | – | – |
| P/E (trailing) | – | 6.8 |
| Dividend yield | 1.44% | 7.95% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
ACWI, iShares's Global Large-Stock Blend fund, carries $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | BOE |
|---|---|---|
| 2022 | -18.4% | -15.5% |
| 2023 | +22.3% | +12.0% |
| 2024 | +17.4% | +16.8% |
| 2025 | +22.4% | +18.8% |
| 2026 | +14.9% | +12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and BOE good diversifiers for each other?
No: a correlation of 0.87 means ACWI and BOE tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ACWI and BOE?
As of 2026-08-27, the correlation of weekly returns between ACWI and BOE is 0.87 over 3 years, 0.88 over 1 year and 0.88 over 5 years.
Is BOE a good diversifier for ACWI?
No: a correlation of 0.87 means ACWI and BOE tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acwi-vs-boe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-boe/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACWI correlations · BOE correlations
