GDV vs SCHD: Correlation
Measured on weekly returns over the past three years, Gabelli Dividend & Income Trust (GDV) and Schwab US Dividend Equity ETF (SCHD) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and SCHD?
Across a 3-year window, the weekly returns of GDV and SCHD correlate at 0.76, strong. Lately the two have drifted apart, with the 1-year correlation at 0.49 versus 0.76 over 3 years. Stretching to 5 years gives 0.85, with an annualized covariance of 146.9 %².
Within GDV's tracked universe of 71 assets, SCHD comes in at #29 by 3-year correlation. The trailing year gives SCHD the advantage: +20.3% versus +29.6%, a 9.3-point spread.
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 SCHD: side by side
| GDV (Gabelli Dividend & Income Trust) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +20.3% | +29.6% |
| 5-year return | +53.8% | +60.9% |
| Volatility (ann.) | 15.0% | 12.9% |
| Beta vs S&P 500 | 0.90 | 0.52 |
| Max drawdown (3Y) | -16.1% | -16.1% |
| Market cap | $2.7B | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 5.51% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | US Listed | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | GDV | SCHD |
|---|---|---|
| 2022 | -18.6% | -3.3% |
| 2023 | +11.9% | +4.5% |
| 2024 | +18.1% | +11.7% |
| 2025 | +22.8% | +4.3% |
| 2026 | +13.8% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and SCHD good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GDV and SCHD?
As of 2026-08-27, the correlation of weekly returns between GDV and SCHD is 0.76 over 3 years, 0.49 over 1 year and 0.85 over 5 years.
Is SCHD a good diversifier for GDV?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 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/gdv-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gdv-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GDV correlations · SCHD correlations
