ERH vs HTD: Correlation
Measured on weekly returns over the past three years, Allspring Utilities and High Income Fund (ERH) and John Hancock Tax Advantaged Dividend Income Fund (HTD) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and HTD?
Across a 3-year window, the weekly returns of ERH and HTD correlate at 0.76, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.77, with an annualized covariance of 180.3 %².
Few assets follow ERH as closely as HTD, which ranks #3 of 21 tracked partners. On 12-month performance HTD holds a 7.8-point edge, +3.2% against +11.0%.
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.
ERH vs HTD: side by side
| ERH (Allspring Utilities and High Income Fund) | HTD (John Hancock Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | +3.2% | +11.0% |
| 5-year return | +17.1% | +50.6% |
| Volatility (ann.) | 14.9% | 15.9% |
| Beta vs S&P 500 | 0.33 | 0.43 |
| Max drawdown (3Y) | -16.2% | -15.7% |
| Market cap | – | $0.9B |
| P/E (trailing) | 4.6 | 5.3 |
| Dividend yield | 8.46% | 7.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERH | HTD |
|---|---|---|
| 2022 | -18.4% | -6.2% |
| 2023 | -10.5% | -9.9% |
| 2024 | +25.7% | +25.7% |
| 2025 | +19.8% | +15.9% |
| 2026 | +2.9% | +12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and HTD good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ERH and HTD?
The ERH/HTD correlation stands at 0.76 on a 3-year window (1 year: 0.72, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is HTD a good diversifier for ERH?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 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.
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Related comparisons
Hubs: ERH correlations · HTD correlations
