KTF vs QQQ: Correlation
DWS Municipal Income Trust (KTF) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KTF and QQQ?
Over the past 3 years, KTF and QQQ moved with a correlation of 0.17, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.42 versus 0.17 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 39.5 %².
Within KTF's tracked universe of 13 assets, QQQ comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 16.5 percentage points (+9.8% for KTF against +26.3% for QQQ). Risk is not evenly split, since QQQ carries 1.7 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.
KTF vs QQQ: side by side
| KTF (DWS Municipal Income Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.8% | +26.3% |
| 5-year return | -3.3% | +95.4% |
| Volatility (ann.) | 11.7% | 19.6% |
| Beta vs S&P 500 | 0.19 | 1.28 |
| Max drawdown (3Y) | -11.3% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 8.35% | 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 | KTF | QQQ |
|---|---|---|
| 2022 | -23.7% | -32.6% |
| 2023 | +7.1% | +54.9% |
| 2024 | +13.8% | +25.6% |
| 2025 | +4.6% | +20.8% |
| 2026 | +2.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KTF and QQQ good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KTF and QQQ?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with 0.42 over the last year and 0.30 over 5 years.
Is QQQ a good diversifier for KTF?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 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
$ curl https://www.pairbook.io/api/v1/pairs/ktf-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ktf-vs-qqq/)
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Related comparisons
Hubs: KTF correlations · QQQ correlations
