EVT vs VYM: Correlation
Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Vanguard High Dividend Yield ETF (VYM) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and VYM?
Over the past 3 years, EVT and VYM moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.73) than the 3-year average (0.86). Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 161.3 %².
By 3-year correlation, VYM places #6 of the 52 assets tracked against EVT. On 12-month performance EVT holds a 7.7-point edge, +28.8% against +21.1%.
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.
EVT vs VYM: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +28.8% | +21.1% |
| 5-year return | +51.3% | +76.6% |
| Volatility (ann.) | 15.3% | 12.3% |
| Beta vs S&P 500 | 0.85 | 0.69 |
| Max drawdown (3Y) | -18.7% | -14.5% |
| Market cap | $2.2B | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 6.80% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | US Listed | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | EVT | VYM |
|---|---|---|
| 2022 | -17.3% | -0.4% |
| 2023 | +5.8% | +6.6% |
| 2024 | +17.4% | +17.6% |
| 2025 | +13.8% | +15.4% |
| 2026 | +20.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and VYM good diversifiers for each other?
No: a correlation of 0.86 means EVT and VYM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between EVT and VYM?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.73 over the last year and 0.84 over 5 years.
Is VYM a good diversifier for EVT?
No: a correlation of 0.86 means EVT and VYM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 mean?
A reading of 0.86 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 · VYM correlations
