QQQ vs VKQ: Correlation
How closely do Invesco QQQ Trust (QQQ) and Invesco Municipal Trust (VKQ) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VKQ?
Over the past 3 years, QQQ and VKQ moved with a correlation of 0.31, which is moderate. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.31). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 70.6 %².
By 3-year correlation, VKQ places #1448 of the 4755 assets tracked against QQQ. The trailing year gives QQQ the advantage: +26.3% versus +15.9%, a 10.4-point spread. One caveat on sizing: QQQ is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
QQQ vs VKQ: side by side
| QQQ (Invesco QQQ Trust) | VKQ (Invesco Municipal Trust) | |
|---|---|---|
| 1-year return | +26.3% | +15.9% |
| 5-year return | +95.4% | -4.8% |
| Volatility (ann.) | 19.6% | 11.7% |
| Beta vs S&P 500 | 1.28 | 0.30 |
| Max drawdown (3Y) | -22.8% | -11.7% |
| Market cap | – | – |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 0.44% | 7.72% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | QQQ | VKQ |
|---|---|---|
| 2022 | -32.6% | -22.3% |
| 2023 | +54.9% | +0.9% |
| 2024 | +25.6% | +9.7% |
| 2025 | +20.8% | +6.5% |
| 2026 | +17.7% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VKQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and VKQ?
As of 2026-08-27, the correlation of weekly returns between QQQ and VKQ is 0.31 over 3 years, 0.54 over 1 year and 0.40 over 5 years.
Is VKQ a good diversifier for QQQ?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 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/qqq-vs-vkq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-vkq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · VKQ correlations
