BGT vs QQQ: Correlation
BlackRock Floating Rate Income Trust (BGT) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGT and QQQ?
Across a 3-year window, the weekly returns of BGT and QQQ correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 113.8 %².
Out of 11 assets tracked against BGT, QQQ lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 25.5 points (+0.8% versus +26.3%). One caveat on sizing: QQQ is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BGT vs QQQ: side by side
| BGT (BlackRock Floating Rate Income Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.8% | +26.3% |
| 5-year return | +41.9% | +95.4% |
| Volatility (ann.) | 12.4% | 19.6% |
| Beta vs S&P 500 | 0.46 | 1.28 |
| Max drawdown (3Y) | -15.9% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 15.6 | – |
| Dividend yield | 13.12% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | BGT | QQQ |
|---|---|---|
| 2022 | -16.6% | -32.6% |
| 2023 | +26.3% | +54.9% |
| 2024 | +16.1% | +25.6% |
| 2025 | -0.9% | +20.8% |
| 2026 | +6.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGT and QQQ good diversifiers for each other?
Reasonably. At 0.47, BGT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BGT and QQQ?
As of 2026-08-27, the correlation of weekly returns between BGT and QQQ is 0.47 over 3 years, 0.43 over 1 year and 0.45 over 5 years.
Is QQQ a good diversifier for BGT?
Reasonably. At 0.47, BGT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: BGT correlations · QQQ correlations
