BOE vs IEFA: Correlation
Measured on weekly returns over the past three years, Blackrock Enhanced Global Dividend Trust (BOE) and iShares Core MSCI EAFE ETF (IEFA) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and IEFA?
Across a 3-year window, the weekly returns of BOE and IEFA correlate at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.81 over 3. Stretching to 5 years gives 0.83, with an annualized covariance of 166.7 %².
Among the 27 assets we track against BOE, IEFA ranks #12 by 3-year correlation. Their 12-month results are close: +17.7% for BOE against +21.8% for IEFA.
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 IEFA: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | IEFA (iShares Core MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +17.7% | +21.8% |
| 5-year return | +46.4% | +54.5% |
| Volatility (ann.) | 13.8% | 15.0% |
| Beta vs S&P 500 | 0.79 | 0.77 |
| Max drawdown (3Y) | -14.5% | -13.8% |
| Market cap | – | – |
| P/E (trailing) | 6.8 | – |
| Dividend yield | 7.95% | 3.35% |
| Expense ratio | – | 0.07% |
| Assets under management | – | $190.1B |
| Sector / category | US Listed | ETF · International |
IEFA, iShares's Foreign Large Blend fund, carries $190.1B under management, 1620 holdings, a 0.07% expense ratio, a 3.35% trailing dividend yield.
Year-by-year returns
| Year | BOE | IEFA |
|---|---|---|
| 2022 | -15.5% | -15.2% |
| 2023 | +12.0% | +18.0% |
| 2024 | +16.8% | +3.3% |
| 2025 | +18.8% | +32.1% |
| 2026 | +12.2% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and IEFA good diversifiers for each other?
No: a correlation of 0.81 means BOE and IEFA tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BOE and IEFA?
The BOE/IEFA correlation stands at 0.81 on a 3-year window (1 year: 0.87, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is IEFA a good diversifier for BOE?
No: a correlation of 0.81 means BOE and IEFA tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 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/boe-vs-iefa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boe-vs-iefa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOE correlations · IEFA correlations
