FFA vs QQQ: Correlation
First Trust Enhanced Equity Income Fund (FFA) and Invesco QQQ Trust (QQQ) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFA and QQQ?
On 3 years of weekly data the FFA/QQQ correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.83 over 3. The 5-year figure is 0.83, and annualized covariance runs at 242.9 %².
Among the 20 assets we track against FFA, QQQ ranks #9 by 3-year correlation. On 12-month performance QQQ holds a 9.0-point edge, +17.3% 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.
FFA vs QQQ: side by side
| FFA (First Trust Enhanced Equity Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +17.3% | +26.3% |
| 5-year return | +54.8% | +95.4% |
| Volatility (ann.) | 14.9% | 19.6% |
| Beta vs S&P 500 | 0.93 | 1.28 |
| Max drawdown (3Y) | -19.9% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 5.7 | – |
| Dividend yield | 6.39% | 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 | FFA | QQQ |
|---|---|---|
| 2022 | -20.3% | -32.6% |
| 2023 | +24.7% | +54.9% |
| 2024 | +21.5% | +25.6% |
| 2025 | +14.2% | +20.8% |
| 2026 | +8.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FFA and QQQ good diversifiers for each other?
No: a correlation of 0.83 means FFA and QQQ tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FFA and QQQ?
The FFA/QQQ correlation stands at 0.83 on a 3-year window (1 year: 0.80, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for FFA?
No: a correlation of 0.83 means FFA and QQQ tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 mean?
A reading of 0.83 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/ffa-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ffa-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FFA correlations · QQQ correlations
