What Moves Like STEW

SRH Total Return Fund, Inc. NYSE

The tradable tickers whose daily moves track STEW most closely over the past year, filtered to risk comparable with STEW's own.

Closest match

ILCV iShares Morningstar Large-Cap Value ETF — 0.716 correlation over the past year, and 11% calmer than STEW.

251 sessions to 2026-09-10 · STEW volatility 11.3% annualised · $1.4M a day

Ticker	1-year correlation	3-year	Volatility vs STEW	Risk	What it is
ILCV iShares Morningstar Large-Cap Value ETF	0.716	0.809	0.89×	11% calmer	Fund
XLF State Street Financial Select Sector SPDR ETF	0.713	0.812	1.30×	30% choppier	Fund
VOOV Vanguard S&P 500 Value ETF	0.712	0.806	0.87×	13% calmer	Fund
IXG iShares Global Financial ETF	0.712	0.803	1.26×	26% choppier	Fund
SPYV State Street SPDR Portfolio S&P 500 Value ETF	0.712	0.806	0.87×	13% calmer	Fund
IYF iShares U.S. Financial ETF	0.712	0.806	1.29×	29% choppier	Fund
IVE iShares S&P 500 Value ETF	0.711	0.807	0.87×	13% calmer	Fund
IUSV iShares Core S&P U.S. Value ETF	0.711	0.807	0.89×	12% calmer	Fund
RWL Invesco S&P 500 Revenue ETF	0.706	0.801	0.89×	11% calmer	Fund
VFH Vanguard Financials ETF	0.706	0.807	1.32×	32% choppier	Fund
IYG iShares U.S. Financial Services ETF	0.700	0.802	1.39×	39% choppier	Fund
FNCL Fidelity MSCI Financials Index ETF	0.699	0.806	1.32×	32% choppier	Fund
QUS State Street SPDR MSCI USA StrategicFactors ETF	0.698	0.787	0.83×	17% calmer	Fund
DFNL Davis Select Financial ETF	0.698	0.780	1.31×	31% choppier	Fund
VLU State Street SPDR S&P 1500 Value Tilt ETF	0.697	0.810	0.95×	similar	Fund
DGRO iShares Core Dividend Growth ETF	0.694	0.790	0.85×	15% calmer	Fund
DTD WisdomTree U.S. Total Dividend Fund	0.694	0.802	0.82×	18% calmer	Fund
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	0.693	0.778	1.12×	12% choppier	Fund
ZECP Zacks Earnings Consistent Portfolio ETF	0.689	0.772	0.96×	similar	Fund
NULV Nuveen ESG Large-Cap Value ETF	0.689	0.781	0.97×	similar	Fund
VIG Vanguard Div Appreciation ETF	0.687	0.775	0.90×	11% calmer	Fund
TDVG T. Rowe Price Dividend Growth ETF	0.687	0.785	0.86×	14% calmer	Fund
DLN WisdomTree U.S. LargeCap Dividend Fund	0.683	0.794	0.80×	20% calmer	Fund
DIVO Amplify CWP Enhanced Dividend Income ETF	0.683	0.761	0.84×	16% calmer	Fund
FDLO Fidelity Low Volatility Factor ETF	0.680	0.765	0.83×	17% calmer	Fund

Showing 25 of 30 tickers that qualified. Correlation is of daily returns; 1.000 would mean moving in lockstep, 0.000 no relationship at all.

What this is for

Three questions, one number behind all of them.

Harvesting a loss without leaving the market. Sell a position at a loss to book it, and the wash-sale rule stops you claiming that loss if you buy back something substantially identical within 30 days. The usual move is to buy something that behaves similarly without being the same security. What counts as substantially identical is a question for a tax professional, not for a correlation table — but finding the candidates is what this page does.
Picking between near-duplicates. A dozen funds track the same index. If two of them correlate at 0.999, the choice is about expense ratio, spread and tax treatment, not exposure.
Finding out you hold one position twice. Two tickers that feel like separate holdings and correlate at 0.97 are one bet wearing two names. That is the most common way a portfolio ends up less diversified than its owner thinks.

How to read the two correlation columns

The one-year figure is what the relationship looks like now. The three-year figure is what it has looked like over a longer stretch. Comparing them is the point: when they agree, the relationship is structural and likely to hold. When the one-year number is far below the three-year one, something has changed — a shift in business mix, an index reconstitution, a sector that has stopped moving together — and the recent figure is the one to trust less, not more.

Correlation measures whether two things move together, not whether they move by the same amount. That is why the volatility column is there. Two tickers can correlate at 0.99 while one swings half again as hard, and swapping one for the other would quietly change how much risk you are carrying.

What was deliberately left out

Ranking purely by correlation produces answers that are mathematically perfect and practically useless. The closest matches to AAPL by raw correlation are leveraged AAPL funds at 0.999 — correct, and not replacements for anything. Four filters run before a ticker is allowed to appear:

Comparable risk. A candidate has to sit within a band of the subject's own volatility. Note that the band is relative: looking up an ordinary stock or fund, this removes the leveraged products, because they move two or three times as far. Looking up a leveraged product itself, the comparable-risk answer is other leveraged products — and that is what you get.
Three years of history. A replacement you intend to hold should have traded through more than one market regime. This removes the single-stock covered-call and option-income funds as a class, since almost all are recent launches.
No structured products. What survives both of the above is the rare instrument that tracks another almost exactly but with visibly damped volatility — the signature of a capped-upside product. Genuine share-class pairs do not look like that, so they come through untouched.
A liquidity floor. Everything listed trades at least $1.0M a day. A substitute you cannot get filled in is not a substitute.

Where all of that leaves a ticker with no close match, the page says so. A stock with no substitute is a real and useful finding, and inventing a loose one to fill the table would be worse than an empty answer.

Limits, stated up front

Correlation is backward-looking. It describes the window it was measured over and carries no promise about the next one. Relationships that held for years break, usually at the moment people are relying on them.
It says nothing about direction or returns. Two tickers can correlate at 0.99 and one can be down 40% over the same stretch. This page ranks co-movement, not performance, and nothing here is a recommendation.
Daily returns only. Measured on a different frequency — weekly, monthly — the numbers move, sometimes a lot. Daily is the standard choice and it is the one used throughout.
Substantially identical is a legal test, not a statistical one. A high correlation does not make two securities substantially identical for tax purposes, and a low one does not make them safe. Talk to a tax professional.

Where the numbers come from

Correlations are computed in-house from a daily price history and rebuilt every night. What gets published is the derived statistic — a correlation coefficient, a volatility ratio, an observation count — and nothing from which a price or return series could be reconstructed. The rest of the Markets section is on the Markets overview, including futures positioning extremes and SEC Form 4 insider transactions.