BTT vs DTF: Correlation
BlackRock Municipal 2030 Target Term Trust (BTT) and DTF Tax-Free Income 2028 Term Fund Inc. (DTF) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTT and DTF?
Over the past 3 years, BTT and DTF moved with a correlation of 0.65, which is strong. The past 12 months show a weaker link (0.38) than the 3-year average (0.65). Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 21.5 %².
Among the 13 assets we track against BTT, DTF ranks #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +3.9% for BTT and +5.6% for DTF.
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.
BTT vs DTF: side by side
| BTT (BlackRock Municipal 2030 Target Term Trust) | DTF (DTF Tax-Free Income 2028 Term Fund Inc.) | |
|---|---|---|
| 1-year return | +3.9% | +5.6% |
| 5-year return | -1.1% | -7.5% |
| Volatility (ann.) | 6.6% | 5.0% |
| Beta vs S&P 500 | 0.17 | 0.10 |
| Max drawdown (3Y) | -6.5% | -5.4% |
| Market cap | $1.4B | $0.1B |
| P/E (trailing) | 16.4 | 28.1 |
| Dividend yield | 2.46% | 3.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTT | DTF |
|---|---|---|
| 2022 | -15.2% | -21.1% |
| 2023 | +0.7% | +2.2% |
| 2024 | +1.6% | +8.2% |
| 2025 | +13.7% | +5.4% |
| 2026 | +0.6% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTT and DTF good diversifiers for each other?
Only partially. A correlation of 0.65 means BTT and DTF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BTT and DTF?
As of 2026-08-27, the correlation of weekly returns between BTT and DTF is 0.65 over 3 years, 0.38 over 1 year and 0.64 over 5 years.
Is DTF a good diversifier for BTT?
Only partially. A correlation of 0.65 means BTT and DTF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 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: BTT correlations · DTF correlations
