GDV vs RSP: Correlation
Gabelli Dividend & Income Trust (GDV) and Invesco S&P 500 Equal Weight ETF (RSP) show a very strong relationship: their 3-year correlation of weekly returns is 0.91.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and RSP?
On 3 years of weekly data the GDV/RSP correlation comes out at 0.91, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.91 over 3. The 5-year figure is 0.94, and annualized covariance runs at 181.1 %².
In GDV's tracked universe of 71 assets, RSP sits right near the top at #2. Neither side won the trailing year by much: +20.3% against +19.2%.
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.
GDV vs RSP: side by side
| GDV (Gabelli Dividend & Income Trust) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +20.3% | +19.2% |
| 5-year return | +53.8% | +53.9% |
| Volatility (ann.) | 15.0% | 13.2% |
| Beta vs S&P 500 | 0.90 | 0.77 |
| Max drawdown (3Y) | -16.1% | -17.8% |
| Market cap | $2.7B | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 5.51% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | US Listed | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | GDV | RSP |
|---|---|---|
| 2022 | -18.6% | -11.6% |
| 2023 | +11.9% | +13.7% |
| 2024 | +18.1% | +12.8% |
| 2025 | +22.8% | +11.2% |
| 2026 | +13.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and RSP good diversifiers for each other?
Not really. At 0.91, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between GDV and RSP?
The GDV/RSP correlation stands at 0.91 on a 3-year window (1 year: 0.82, 5 years: 0.94), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for GDV?
Not really. At 0.91, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.91 mean?
On the −1 to +1 scale, 0.91 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/gdv-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gdv-vs-rsp/)
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Related comparisons
Hubs: GDV correlations · RSP correlations
