EVT vs SCHD: Correlation
Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Schwab US Dividend Equity ETF (SCHD) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and SCHD?
Across a 3-year window, the weekly returns of EVT and SCHD correlate at 0.75, strong. The link has loosened recently: the 1-year correlation (0.50) runs below the 3-year figure (0.75). Stretching to 5 years gives 0.80, with an annualized covariance of 147.6 %².
Within EVT's tracked universe of 52 assets, SCHD comes in at #13 by 3-year correlation. Their 12-month results are close: +28.8% for EVT against +29.6% for SCHD.
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 SCHD: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +28.8% | +29.6% |
| 5-year return | +51.3% | +60.9% |
| Volatility (ann.) | 15.3% | 12.9% |
| Beta vs S&P 500 | 0.85 | 0.52 |
| Max drawdown (3Y) | -18.7% | -16.1% |
| Market cap | $2.2B | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 6.80% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | US Listed | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | EVT | SCHD |
|---|---|---|
| 2022 | -17.3% | -3.3% |
| 2023 | +5.8% | +4.5% |
| 2024 | +17.4% | +11.7% |
| 2025 | +13.8% | +4.3% |
| 2026 | +20.8% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and SCHD good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EVT and SCHD?
As of 2026-08-27, the correlation of weekly returns between EVT and SCHD is 0.75 over 3 years, 0.50 over 1 year and 0.80 over 5 years.
Is SCHD a good diversifier for EVT?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 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/evt-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/evt-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EVT correlations · SCHD correlations
