ETG vs VEA: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) and Vanguard FTSE Developed Markets ETF (VEA) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETG and VEA?
Over the past 3 years, ETG and VEA moved with a correlation of 0.84, 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 0.83, and the annualized covariance of weekly returns is 214.5 %².
Within ETG's tracked universe of 27 assets, VEA comes in at #10 by 3-year correlation. Their 12-month results are close: +25.2% for ETG against +28.5% for VEA.
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.
ETG vs VEA: side by side
| ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +25.2% | +28.5% |
| 5-year return | +60.6% | +63.5% |
| Volatility (ann.) | 16.9% | 15.1% |
| Beta vs S&P 500 | 1.04 | 0.79 |
| Max drawdown (3Y) | -17.0% | -13.5% |
| Market cap | $1.9B | – |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 6.41% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | ETG | VEA |
|---|---|---|
| 2022 | -27.6% | -15.3% |
| 2023 | +22.0% | +17.9% |
| 2024 | +15.4% | +3.1% |
| 2025 | +36.9% | +35.2% |
| 2026 | +9.8% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETG and VEA good diversifiers for each other?
No. With a correlation of 0.84, ETG and VEA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ETG and VEA?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.81 over the last year and 0.83 over 5 years.
Is VEA a good diversifier for ETG?
No. With a correlation of 0.84, ETG and VEA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
A reading of 0.84 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/etg-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etg-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETG correlations · VEA correlations
