EVT vs QQQ: Correlation
How closely do Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and QQQ?
Across a 3-year window, the weekly returns of EVT and QQQ correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 197.9 %².
Among the 52 assets we track against EVT, QQQ ranks #20 by 3-year correlation. Neither side won the trailing year by much: +28.8% 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.
EVT vs QQQ: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +28.8% | +26.3% |
| 5-year return | +51.3% | +95.4% |
| Volatility (ann.) | 15.3% | 19.6% |
| Beta vs S&P 500 | 0.85 | 1.28 |
| Max drawdown (3Y) | -18.7% | -22.8% |
| Market cap | $2.2B | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 6.80% | 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 | EVT | QQQ |
|---|---|---|
| 2022 | -17.3% | -32.6% |
| 2023 | +5.8% | +54.9% |
| 2024 | +17.4% | +25.6% |
| 2025 | +13.8% | +20.8% |
| 2026 | +20.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and QQQ good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EVT and QQQ?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.58 over the last year and 0.69 over 5 years.
Is QQQ a good diversifier for EVT?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: EVT correlations · QQQ correlations
