BMEZ vs QQQ: Correlation
BlackRock Health Sciences Term Trust (BMEZ) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMEZ and QQQ?
Across a 3-year window, the weekly returns of BMEZ and QQQ correlate at 0.45, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.45 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 147.0 %².
By 3-year correlation, QQQ places #12 of the 23 assets tracked against BMEZ. Over the last 12 months BMEZ came out ahead by 5.1 percentage points (+31.4% against +26.3%).
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.
BMEZ vs QQQ: side by side
| BMEZ (BlackRock Health Sciences Term Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +31.4% | +26.3% |
| 5-year return | +0.9% | +95.4% |
| Volatility (ann.) | 16.5% | 19.6% |
| Beta vs S&P 500 | 0.63 | 1.28 |
| Max drawdown (3Y) | -18.3% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 0.00% | 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 | BMEZ | QQQ |
|---|---|---|
| 2022 | -32.7% | -32.6% |
| 2023 | +5.1% | +54.9% |
| 2024 | +9.5% | +25.6% |
| 2025 | +18.7% | +20.8% |
| 2026 | +20.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMEZ and QQQ good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BMEZ and QQQ?
The BMEZ/QQQ correlation stands at 0.45 on a 3-year window (1 year: 0.36, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for BMEZ?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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
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[](https://www.pairbook.io/pair/bmez-vs-qqq/)
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Related comparisons
Hubs: BMEZ correlations · QQQ correlations
