DHF vs SPYV: Correlation
BNY Mellon High Yield Strategies Fund (DHF) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHF and SPYV?
On 3 years of weekly data the DHF/SPYV correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 96.8 %².
Within DHF's tracked universe of 15 assets, SPYV comes in at #5 by 3-year correlation. The last year tells two different stories: SPYV led by 19.1 percentage points, -0.6% for DHF against +18.5% for SPYV.
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.
DHF vs SPYV: side by side
| DHF (BNY Mellon High Yield Strategies Fund) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | -0.6% | +18.5% |
| 5-year return | +7.9% | +73.5% |
| Volatility (ann.) | 11.4% | 12.1% |
| Beta vs S&P 500 | 0.52 | 0.70 |
| Max drawdown (3Y) | -11.8% | -17.5% |
| Market cap | $0.2B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 8.90% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | US Listed | ETF · US Style |
SPYV, State Street Investment Management's Large Value fund, carries $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | DHF | SPYV |
|---|---|---|
| 2022 | -22.5% | -5.3% |
| 2023 | +15.0% | +22.2% |
| 2024 | +21.4% | +12.2% |
| 2025 | +5.9% | +13.2% |
| 2026 | -0.2% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHF and SPYV good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DHF and SPYV?
The DHF/SPYV correlation stands at 0.70 on a 3-year window (1 year: 0.65, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for DHF?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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/dhf-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dhf-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHF correlations · SPYV correlations
