DGRO vs EVT: Correlation
iShares Core Dividend Growth ETF (DGRO) and Eaton Vance Tax Advantaged Dividend Income Fund (EVT) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and EVT?
On 3 years of weekly data the DGRO/EVT correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. The 5-year figure is 0.86, and annualized covariance runs at 153.0 %².
Among the 138 assets we track against DGRO, EVT ranks #10 by 3-year correlation. On 12-month performance EVT holds a 7.8-point edge, +21.0% against +28.8%.
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.
DGRO vs EVT: side by side
| DGRO (iShares Core Dividend Growth ETF) | EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | +21.0% | +28.8% |
| 5-year return | +67.9% | +51.3% |
| Volatility (ann.) | 11.4% | 15.3% |
| Beta vs S&P 500 | 0.65 | 0.85 |
| Max drawdown (3Y) | -14.0% | -18.7% |
| Market cap | – | $2.2B |
| P/E (trailing) | – | 4.5 |
| Dividend yield | 1.89% | 6.80% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | US Listed |
DGRO, iShares's Large Value fund, carries $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | DGRO | EVT |
|---|---|---|
| 2022 | -7.9% | -17.3% |
| 2023 | +10.5% | +5.8% |
| 2024 | +16.6% | +17.4% |
| 2025 | +15.7% | +13.8% |
| 2026 | +15.2% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and EVT good diversifiers for each other?
No: a correlation of 0.88 means DGRO and EVT tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DGRO and EVT?
As of 2026-08-27, the correlation of weekly returns between DGRO and EVT is 0.88 over 3 years, 0.78 over 1 year and 0.86 over 5 years.
Is EVT a good diversifier for DGRO?
No: a correlation of 0.88 means DGRO and EVT tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgro-vs-evt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-evt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · EVT correlations
