BEN vs VYM: Correlation
Franklin Resources (BEN) and Vanguard High Dividend Yield ETF (VYM) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEN and VYM?
On 3 years of weekly data the BEN/VYM correlation comes out at 0.59, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.47 versus 0.59 over 3 years. The 5-year figure is 0.66, and annualized covariance runs at 202.5 %².
Among the 28 assets we track against BEN, VYM ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BEN ahead by 21.9 points (+43.0% versus +21.1%). Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.78. Note the risk asymmetry: BEN runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BEN vs VYM: side by side
| BEN (Franklin Resources) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +43.0% | +21.1% |
| 5-year return | +37.6% | +76.6% |
| Volatility (ann.) | 27.9% | 12.3% |
| Beta vs S&P 500 | 1.01 | 0.69 |
| Max drawdown (3Y) | -40.0% | -14.5% |
| Market cap | $17.7B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 3.74% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | Financials | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | BEN | VYM |
|---|---|---|
| 2022 | -17.5% | -0.4% |
| 2023 | +17.0% | +6.6% |
| 2024 | -27.2% | +17.6% |
| 2025 | +24.8% | +15.4% |
| 2026 | +49.4% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEN and VYM good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BEN and VYM?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.47 over the last year and 0.66 over 5 years.
Is VYM a good diversifier for BEN?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 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.
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Related comparisons
Hubs: BEN correlations · VYM correlations
