ACWI vs NFJ: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Virtus Dividend, Interest & Premium Strategy Fund (NFJ) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and NFJ?
Over the past 3 years, ACWI and NFJ moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Over 5 years the correlation is 0.87, and the annualized covariance of weekly returns is 153.7 %².
Within ACWI's tracked universe of 119 assets, NFJ comes in at #44 by 3-year correlation. Over the last 12 months NFJ came out ahead by 8.3 percentage points (+22.7% against +31.0%).
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 NFJ: side by side
| ACWI (iShares MSCI ACWI ETF) | NFJ (Virtus Dividend, Interest & Premium Strategy Fund) | |
|---|---|---|
| 1-year return | +22.7% | +31.0% |
| 5-year return | +69.0% | +50.8% |
| Volatility (ann.) | 13.8% | 13.8% |
| Beta vs S&P 500 | 0.92 | 0.73 |
| Max drawdown (3Y) | -16.5% | -17.0% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | 9.8 |
| Dividend yield | 1.44% | 7.83% |
| 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 | NFJ |
|---|---|---|
| 2022 | -18.4% | -23.9% |
| 2023 | +22.3% | +21.3% |
| 2024 | +17.4% | +10.0% |
| 2025 | +22.4% | +12.4% |
| 2026 | +14.9% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and NFJ good diversifiers for each other?
No. With a correlation of 0.81, ACWI and NFJ move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ACWI and NFJ?
As of 2026-08-27, the correlation of weekly returns between ACWI and NFJ is 0.81 over 3 years, 0.79 over 1 year and 0.87 over 5 years.
Is NFJ a good diversifier for ACWI?
No. With a correlation of 0.81, ACWI and NFJ move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 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-nfj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-nfj/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACWI correlations · NFJ correlations
