EFR vs EFT: Correlation
How closely do Eaton Vance Senior Floating-Rate Fund (EFR) and Eaton Vance Floating Rate Income Trust (EFT) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFR and EFT?
Across a 3-year window, the weekly returns of EFR and EFT correlate at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.86 over 1 year against 0.88 over 3. Stretching to 5 years gives 0.82, with an annualized covariance of 102.6 %².
In EFR's tracked universe of 16 assets, EFT sits right near the top at #1. Their 12-month results are close: -2.3% for EFR against -4.8% for EFT.
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.
EFR vs EFT: side by side
| EFR (Eaton Vance Senior Floating-Rate Fund) | EFT (Eaton Vance Floating Rate Income Trust) | |
|---|---|---|
| 1-year return | -2.3% | -4.8% |
| 5-year return | +16.8% | +13.9% |
| Volatility (ann.) | 10.7% | 10.9% |
| Beta vs S&P 500 | 0.45 | 0.49 |
| Max drawdown (3Y) | -18.3% | -17.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | 20.6 | 42.4 |
| Dividend yield | 9.21% | 9.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFR | EFT |
|---|---|---|
| 2022 | -18.8% | -19.7% |
| 2023 | +29.2% | +27.1% |
| 2024 | +11.3% | +13.2% |
| 2025 | -4.9% | -3.8% |
| 2026 | -0.4% | -1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFR and EFT good diversifiers for each other?
No. With a correlation of 0.88, EFR and EFT move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EFR and EFT?
The EFR/EFT correlation stands at 0.88 on a 3-year window (1 year: 0.86, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is EFT a good diversifier for EFR?
No. With a correlation of 0.88, EFR and EFT move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 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/efr-vs-eft.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/efr-vs-eft/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EFR correlations · EFT correlations
