EFT vs QQQ: Correlation
Measured on weekly returns over the past three years, Eaton Vance Floating Rate Income Trust (EFT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFT and QQQ?
Across a 3-year window, the weekly returns of EFT and QQQ correlate at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 121.3 %².
Within EFT's tracked universe of 14 assets, QQQ comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 31.1 points (-4.8% versus +26.3%). Risk is not evenly split, since QQQ carries 1.8 times the volatility of the other side.
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.
EFT vs QQQ: side by side
| EFT (Eaton Vance Floating Rate Income Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -4.8% | +26.3% |
| 5-year return | +13.9% | +95.4% |
| Volatility (ann.) | 10.9% | 19.6% |
| Beta vs S&P 500 | 0.49 | 1.28 |
| Max drawdown (3Y) | -17.5% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 42.4 | – |
| Dividend yield | 9.41% | 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 | EFT | QQQ |
|---|---|---|
| 2022 | -19.7% | -32.6% |
| 2023 | +27.1% | +54.9% |
| 2024 | +13.2% | +25.6% |
| 2025 | -3.8% | +20.8% |
| 2026 | -1.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFT and QQQ good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EFT and QQQ?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.52 over the last year and 0.49 over 5 years.
Is QQQ a good diversifier for EFT?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
A reading of 0.57 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
$ curl https://www.pairbook.io/api/v1/pairs/eft-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eft-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EFT correlations · QQQ correlations
