NFJ vs RSP: Correlation
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) and Invesco S&P 500 Equal Weight ETF (RSP) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFJ and RSP?
On 3 years of weekly data the NFJ/RSP correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.70) runs below the 3-year figure (0.84). The 5-year figure is 0.88, and annualized covariance runs at 152.3 %².
In NFJ's tracked universe of 34 assets, RSP sits right near the top at #2. The trailing year gives NFJ the advantage: +31.0% versus +19.2%, a 11.8-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.
NFJ vs RSP: side by side
| NFJ (Virtus Dividend, Interest & Premium Strategy Fund) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +31.0% | +19.2% |
| 5-year return | +50.8% | +53.9% |
| Volatility (ann.) | 13.8% | 13.2% |
| Beta vs S&P 500 | 0.73 | 0.77 |
| Max drawdown (3Y) | -17.0% | -17.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | 9.8 | – |
| Dividend yield | 7.83% | 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 | NFJ | RSP |
|---|---|---|
| 2022 | -23.9% | -11.6% |
| 2023 | +21.3% | +13.7% |
| 2024 | +10.0% | +12.8% |
| 2025 | +12.4% | +11.2% |
| 2026 | +26.1% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFJ and RSP good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between NFJ and RSP?
The NFJ/RSP correlation stands at 0.84 on a 3-year window (1 year: 0.70, 5 years: 0.88), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for NFJ?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.84 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/nfj-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nfj-vs-rsp/)
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Related comparisons
Hubs: NFJ correlations · RSP correlations
