ERH vs XLU: Correlation
Measured on weekly returns over the past three years, Allspring Utilities and High Income Fund (ERH) and Utilities Select Sector SPDR Fund (XLU) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and XLU?
Across a 3-year window, the weekly returns of ERH and XLU correlate at 0.78, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 183.8 %².
In ERH's tracked universe of 21 assets, XLU sits right near the top at #1. Neither side won the trailing year by much: +3.2% against +4.1%.
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 XLU: side by side
| ERH (Allspring Utilities and High Income Fund) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +3.2% | +4.1% |
| 5-year return | +17.1% | +46.3% |
| Volatility (ann.) | 14.9% | 15.8% |
| Beta vs S&P 500 | 0.33 | 0.26 |
| Max drawdown (3Y) | -16.2% | -13.1% |
| Market cap | – | – |
| P/E (trailing) | 4.6 | – |
| Dividend yield | 8.46% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | US Listed | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | ERH | XLU |
|---|---|---|
| 2022 | -18.4% | +1.4% |
| 2023 | -10.5% | -7.2% |
| 2024 | +25.7% | +23.3% |
| 2025 | +19.8% | +16.0% |
| 2026 | +2.9% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and XLU good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ERH and XLU?
The ERH/XLU correlation stands at 0.78 on a 3-year window (1 year: 0.70, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is XLU a good diversifier for ERH?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 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/erh-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/erh-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERH correlations · XLU correlations
