EVT vs RSP: Correlation
How closely do Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.90, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and RSP?
Over the past 3 years, EVT and RSP moved with a correlation of 0.90, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Over 5 years the correlation is 0.88, and the annualized covariance of weekly returns is 181.1 %².
In EVT's tracked universe of 52 assets, RSP sits right near the top at #1. The trailing year gives EVT the advantage: +28.8% versus +19.2%, a 9.6-point spread.
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.
EVT vs RSP: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +28.8% | +19.2% |
| 5-year return | +51.3% | +53.9% |
| Volatility (ann.) | 15.3% | 13.2% |
| Beta vs S&P 500 | 0.85 | 0.77 |
| Max drawdown (3Y) | -18.7% | -17.8% |
| Market cap | $2.2B | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 6.80% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | US Listed | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | EVT | RSP |
|---|---|---|
| 2022 | -17.3% | -11.6% |
| 2023 | +5.8% | +13.7% |
| 2024 | +17.4% | +12.8% |
| 2025 | +13.8% | +11.2% |
| 2026 | +20.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and RSP good diversifiers for each other?
Not really. At 0.90, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EVT and RSP?
The EVT/RSP correlation stands at 0.90 on a 3-year window (1 year: 0.81, 5 years: 0.88), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for EVT?
Not really. At 0.90, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.90 mean?
On the −1 to +1 scale, 0.90 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/evt-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/evt-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EVT correlations · RSP correlations
