FTF vs WEA: Correlation
How closely do Franklin Limited Duration Income Trust (FTF) and Western Asset Bond Fund Share of Beneficial Interest (WEA) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTF and WEA?
On 3 years of weekly data the FTF/WEA correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 59.5 %².
Within FTF's tracked universe of 12 assets, WEA comes in at #6 by 3-year correlation. Neither side won the trailing year by much: +1.5% against +2.2%.
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.
FTF vs WEA: side by side
| FTF (Franklin Limited Duration Income Trust) | WEA (Western Asset Bond Fund Share of Beneficial Interest) | |
|---|---|---|
| 1-year return | +1.5% | +2.2% |
| 5-year return | +10.3% | +4.5% |
| Volatility (ann.) | 9.2% | 10.5% |
| Beta vs S&P 500 | 0.34 | 0.29 |
| Max drawdown (3Y) | -11.6% | -11.4% |
| Market cap | – | – |
| P/E (trailing) | 13.7 | 12.6 |
| Dividend yield | 12.75% | 4.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTF | WEA |
|---|---|---|
| 2022 | -23.5% | -20.2% |
| 2023 | +12.2% | +9.6% |
| 2024 | +19.6% | +7.7% |
| 2025 | +4.3% | +10.6% |
| 2026 | +1.8% | -0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTF and WEA good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTF and WEA?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.60 over the last year and 0.57 over 5 years.
Is WEA a good diversifier for FTF?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ftf-vs-wea.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftf-vs-wea/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTF correlations · WEA correlations
