ACWI vs ETG: Correlation
Measured on weekly returns over the past three years, iShares MSCI ACWI ETF (ACWI) and Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) carry a correlation of 0.92, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and ETG?
On 3 years of weekly data the ACWI/ETG correlation comes out at 0.92, 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 0.89, and annualized covariance runs at 215.5 %².
By 3-year correlation, ETG places #9 of the 119 assets tracked against ACWI. Their 12-month results are close: +22.7% for ACWI against +25.2% for ETG.
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 ETG: side by side
| ACWI (iShares MSCI ACWI ETF) | ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | |
|---|---|---|
| 1-year return | +22.7% | +25.2% |
| 5-year return | +69.0% | +60.6% |
| Volatility (ann.) | 13.8% | 16.9% |
| Beta vs S&P 500 | 0.92 | 1.04 |
| Max drawdown (3Y) | -16.5% | -17.0% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | 3.8 |
| Dividend yield | 1.44% | 6.41% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
On the fund side, ACWI sits in the Global Large-Stock Blend category at iShares, with $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | ETG |
|---|---|---|
| 2022 | -18.4% | -27.6% |
| 2023 | +22.3% | +22.0% |
| 2024 | +17.4% | +15.4% |
| 2025 | +22.4% | +36.9% |
| 2026 | +14.9% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and ETG good diversifiers for each other?
No: a correlation of 0.92 means ACWI and ETG tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ACWI and ETG?
As of 2026-08-27, the correlation of weekly returns between ACWI and ETG is 0.92 over 3 years, 0.88 over 1 year and 0.89 over 5 years.
Is ETG a good diversifier for ACWI?
No: a correlation of 0.92 means ACWI and ETG tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.92 mean?
A reading of 0.92 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acwi-vs-etg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acwi-vs-etg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACWI correlations · ETG correlations
