DHF vs VLT: Correlation
BNY Mellon High Yield Strategies Fund (DHF) and Invesco High Income Trust II (VLT) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHF and VLT?
Over the past 3 years, DHF and VLT moved with a correlation of 0.73, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.73 over 3. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 84.1 %².
Few assets follow DHF as closely as VLT, which ranks #1 of 15 tracked partners. Twelve-month performance is nearly a tie, at -0.6% for DHF and -1.3% for VLT.
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 VLT: side by side
| DHF (BNY Mellon High Yield Strategies Fund) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | -0.6% | -1.3% |
| 5-year return | +7.9% | +12.4% |
| Volatility (ann.) | 11.4% | 10.0% |
| Beta vs S&P 500 | 0.52 | 0.47 |
| Max drawdown (3Y) | -11.8% | -13.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 13.8 | 13.9 |
| Dividend yield | 8.90% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHF | VLT |
|---|---|---|
| 2022 | -22.5% | -20.9% |
| 2023 | +15.0% | +13.1% |
| 2024 | +21.4% | +17.3% |
| 2025 | +5.9% | +13.2% |
| 2026 | -0.2% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHF and VLT good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DHF and VLT?
The DHF/VLT correlation stands at 0.73 on a 3-year window (1 year: 0.69, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is VLT a good diversifier for DHF?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/dhf-vs-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dhf-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHF correlations · VLT correlations
