EVT vs VTV: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Vanguard Value ETF (VTV) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and VTV?
Over the past 3 years, EVT and VTV moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 158.7 %².
Within EVT's tracked universe of 52 assets, VTV comes in at #5 by 3-year correlation. Neither side won the trailing year by much: +28.8% against +25.7%.
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 VTV: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +28.8% | +25.7% |
| 5-year return | +51.3% | +79.1% |
| Volatility (ann.) | 15.3% | 11.9% |
| Beta vs S&P 500 | 0.85 | 0.65 |
| Max drawdown (3Y) | -18.7% | -14.5% |
| Market cap | $2.2B | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 6.80% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | US Listed | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | EVT | VTV |
|---|---|---|
| 2022 | -17.3% | -2.1% |
| 2023 | +5.8% | +9.3% |
| 2024 | +17.4% | +16.0% |
| 2025 | +13.8% | +15.3% |
| 2026 | +20.8% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and VTV good diversifiers for each other?
No. With a correlation of 0.87, EVT and VTV move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EVT and VTV?
The EVT/VTV correlation stands at 0.87 on a 3-year window (1 year: 0.77, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for EVT?
No. With a correlation of 0.87, EVT and VTV move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
A reading of 0.87 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EVT correlations · VTV correlations
