IQI vs VKI: Correlation
Measured on weekly returns over the past three years, Invesco Quality Municipal Income Trust (IQI) and Invesco Advantage Municipal Income Trust II (VKI) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQI and VKI?
On 3 years of weekly data the IQI/VKI correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. The 5-year figure is 0.89, and annualized covariance runs at 145.0 %².
By 3-year correlation, VKI places #4 of the 27 assets tracked against IQI. Neither side won the trailing year by much: +16.7% against +15.7%.
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.
IQI vs VKI: side by side
| IQI (Invesco Quality Municipal Income Trust) | VKI (Invesco Advantage Municipal Income Trust II) | |
|---|---|---|
| 1-year return | +16.7% | +15.7% |
| 5-year return | +1.1% | -5.1% |
| Volatility (ann.) | 11.8% | 13.9% |
| Beta vs S&P 500 | 0.31 | 0.32 |
| Max drawdown (3Y) | -11.2% | -12.4% |
| Market cap | – | $0.4B |
| P/E (trailing) | 29.9 | 35.6 |
| Dividend yield | 7.50% | 7.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IQI | VKI |
|---|---|---|
| 2022 | -26.9% | -25.5% |
| 2023 | +5.9% | +3.1% |
| 2024 | +10.5% | +10.2% |
| 2025 | +9.2% | +12.8% |
| 2026 | +7.1% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQI and VKI good diversifiers for each other?
No. With a correlation of 0.88, IQI and VKI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between IQI and VKI?
The IQI/VKI correlation stands at 0.88 on a 3-year window (1 year: 0.80, 5 years: 0.89), computed from weekly returns as of 2026-08-27.
Is VKI a good diversifier for IQI?
No. With a correlation of 0.88, IQI and VKI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 mean?
A reading of 0.88 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/iqi-vs-vki.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iqi-vs-vki/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IQI correlations · VKI correlations
