Looking to balance out your exposure to ETW? The ETFs below have the lowest correlation with ETW — they tend to move on their own, which can help reduce risk when ETW drops. The stock ideas table highlights individual companies that behave independently from ETW.
Best Diversifiers for ETW
1 ETFs have low correlation with ETW (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.25, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.25 | 0.42 | 0.52 | 89 | Dividend | ETW vs SCHD | |
| Amplify CWP International Enhanced Dividend Income... | 0.64 | 0.61 | — | 77 | Derivative Income, Dividend, Foreign Large Cap Equities | ETW vs IDVO | |
| Global X S&P 500 Covered Call ETF | 0.66 | 0.66 | 0.65 | 90 | Derivative Income, S&P 500 | ETW vs XYLD | |
| State Street SPDR S&P 500 ETF | 0.72 | 0.75 | 0.73 | 70 | S&P 500 | ETW vs SPY | |
| Goldman Sachs S&P 500 Premium Income ETF | 0.72 | — | — | 79 | Derivative Income, S&P 500 | ETW vs GPIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ETW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ETW and solid risk/return profiles. The least correlated is BlackRock Science and Technology Trust (BST) (Financial Services) with a 1Y correlation of 0.65, roughly unchanged from 0.66 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Science and Technology Trust | 0.65 | 0.65 | 0.66 | 85 | Financial Services | |
| Abrdn Total Dynamic Dividend Fund | 0.67 | 0.72 | 0.72 | 88 | Financial Services | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.70 | 0.74 | 0.72 | 84 | Financial Services |
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