EFA vs ETG: Correlation
iShares MSCI EAFE ETF (EFA) and Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFA and ETG?
Over the past 3 years, EFA and ETG moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 210.3 %².
Among the 109 assets we track against EFA, ETG ranks #9 by 3-year correlation. Neither side won the trailing year by much: +21.9% against +25.2%.
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.
EFA vs ETG: side by side
| EFA (iShares MSCI EAFE ETF) | ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | |
|---|---|---|
| 1-year return | +21.9% | +25.2% |
| 5-year return | +56.7% | +60.6% |
| Volatility (ann.) | 14.9% | 16.9% |
| Beta vs S&P 500 | 0.77 | 1.04 |
| Max drawdown (3Y) | -14.1% | -17.0% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | 3.8 |
| Dividend yield | 3.19% | 6.41% |
| Expense ratio | 0.32% | – |
| Assets under management | $78.0B | – |
| Sector / category | ETF · International | US Listed |
EFA, iShares's Foreign Large Blend fund, carries $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield.
Year-by-year returns
| Year | EFA | ETG |
|---|---|---|
| 2022 | -14.4% | -27.6% |
| 2023 | +18.4% | +22.0% |
| 2024 | +3.5% | +15.4% |
| 2025 | +31.5% | +36.9% |
| 2026 | +14.3% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and ETG good diversifiers for each other?
No: a correlation of 0.83 means EFA and ETG tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between EFA and ETG?
As of 2026-08-27, the correlation of weekly returns between EFA and ETG is 0.83 over 3 years, 0.81 over 1 year and 0.82 over 5 years.
Is ETG a good diversifier for EFA?
No: a correlation of 0.83 means EFA and ETG tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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/efa-vs-etg.json
Markdown for the live badge, attribution link included:
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Related comparisons
Hubs: EFA correlations · ETG correlations
