EXG vs VEA: Correlation
Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) and Vanguard FTSE Developed Markets ETF (VEA) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXG and VEA?
On 3 years of weekly data the EXG/VEA correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. The 5-year figure is 0.80, and annualized covariance runs at 192.4 %².
By 3-year correlation, VEA places #8 of the 32 assets tracked against EXG. On 12-month performance VEA holds a 6.5-point edge, +22.0% against +28.5%.
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.
EXG vs VEA: side by side
| EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +22.0% | +28.5% |
| 5-year return | +45.8% | +63.5% |
| Volatility (ann.) | 15.0% | 15.1% |
| Beta vs S&P 500 | 0.91 | 0.79 |
| Max drawdown (3Y) | -15.1% | -13.5% |
| Market cap | – | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 0.00% | 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 | EXG | VEA |
|---|---|---|
| 2022 | -22.2% | -15.3% |
| 2023 | +11.4% | +17.9% |
| 2024 | +16.1% | +3.1% |
| 2025 | +27.8% | +35.2% |
| 2026 | +10.7% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXG and VEA good diversifiers for each other?
No: a correlation of 0.85 means EXG and VEA tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between EXG and VEA?
As of 2026-08-27, the correlation of weekly returns between EXG and VEA is 0.85 over 3 years, 0.82 over 1 year and 0.80 over 5 years.
Is VEA a good diversifier for EXG?
No: a correlation of 0.85 means EXG and VEA tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 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/exg-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/exg-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXG correlations · VEA correlations
