BOE vs ETG: Correlation
Blackrock Enhanced Global Dividend Trust (BOE) and Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and ETG?
Over the past 3 years, BOE and ETG moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 203.4 %².
Among the 27 assets we track against BOE, ETG ranks #5 by 3-year correlation. The trailing year gives ETG the advantage: +17.7% versus +25.2%, a 7.5-point spread.
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.
BOE vs ETG: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | |
|---|---|---|
| 1-year return | +17.7% | +25.2% |
| 5-year return | +46.4% | +60.6% |
| Volatility (ann.) | 13.8% | 16.9% |
| Beta vs S&P 500 | 0.79 | 1.04 |
| Max drawdown (3Y) | -14.5% | -17.0% |
| Market cap | – | $1.9B |
| P/E (trailing) | 6.8 | 3.8 |
| Dividend yield | 7.95% | 6.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | ETG |
|---|---|---|
| 2022 | -15.5% | -27.6% |
| 2023 | +12.0% | +22.0% |
| 2024 | +16.8% | +15.4% |
| 2025 | +18.8% | +36.9% |
| 2026 | +12.2% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and ETG good diversifiers for each other?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BOE and ETG?
Using weekly returns as of 2026-08-27: 0.87 over 3 years, with 0.86 over the last year and 0.85 over 5 years.
Is ETG a good diversifier for BOE?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.87 mean?
A reading of 0.87 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/boe-vs-etg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/boe-vs-etg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BOE correlations · ETG correlations
