FFA vs MSCI: Correlation
First Trust Enhanced Equity Income Fund (FFA) and MSCI (MSCI) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFA and MSCI?
Across a 3-year window, the weekly returns of FFA and MSCI correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.50 over 3. Stretching to 5 years gives 0.60, with an annualized covariance of 187.2 %².
Among the 20 assets we track against FFA, MSCI ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FFA outperformed by 16.0 percentage points (+17.3% for FFA against +1.3% for MSCI). Risk is not evenly split, since MSCI carries 1.7 times the volatility of the other side.
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.
FFA vs MSCI: side by side
| FFA (First Trust Enhanced Equity Income Fund) | MSCI (MSCI) | |
|---|---|---|
| 1-year return | +17.3% | +1.3% |
| 5-year return | +54.8% | -5.6% |
| Volatility (ann.) | 14.9% | 25.4% |
| Beta vs S&P 500 | 0.93 | 0.85 |
| Max drawdown (3Y) | -19.9% | -26.0% |
| Market cap | $0.5B | $41.4B |
| P/E (trailing) | 5.7 | 30.9 |
| Dividend yield | 6.39% | 1.36% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FFA | MSCI |
|---|---|---|
| 2022 | -20.3% | -23.3% |
| 2023 | +24.7% | +22.9% |
| 2024 | +21.5% | +7.3% |
| 2025 | +14.2% | -3.2% |
| 2026 | +8.9% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FFA and MSCI good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FFA and MSCI?
The FFA/MSCI correlation stands at 0.50 on a 3-year window (1 year: 0.44, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is MSCI a good diversifier for FFA?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ffa-vs-msci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ffa-vs-msci/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FFA correlations · MSCI correlations
