QQQ vs VPV: Correlation
Invesco QQQ Trust (QQQ) and Invesco Pennsylvania Value Municipal Income Trust (VPV) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VPV?
Over the past 3 years, QQQ and VPV moved with a correlation of 0.28, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.39 versus 0.28 over 3 years. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 65.3 %².
Among the 4755 assets we track against QQQ, VPV ranks #1792 by 3-year correlation. Twelve-month performance is nearly a tie, at +26.3% for QQQ and +23.2% for VPV. Risk is not evenly split, since QQQ carries 1.6 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.
QQQ vs VPV: side by side
| QQQ (Invesco QQQ Trust) | VPV (Invesco Pennsylvania Value Municipal Income Trust) | |
|---|---|---|
| 1-year return | +26.3% | +23.2% |
| 5-year return | +95.4% | +11.8% |
| Volatility (ann.) | 19.6% | 11.9% |
| Beta vs S&P 500 | 1.28 | 0.26 |
| Max drawdown (3Y) | -22.8% | -12.4% |
| Market cap | – | – |
| P/E (trailing) | – | 40.5 |
| Dividend yield | 0.44% | 7.04% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | VPV |
|---|---|---|
| 2022 | -32.6% | -26.3% |
| 2023 | +54.9% | +6.2% |
| 2024 | +25.6% | +9.1% |
| 2025 | +20.8% | +10.0% |
| 2026 | +17.7% | +13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VPV good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and VPV?
As of 2026-08-27, the correlation of weekly returns between QQQ and VPV is 0.28 over 3 years, 0.39 over 1 year and 0.41 over 5 years.
Is VPV a good diversifier for QQQ?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 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-vpv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-vpv/)
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Related comparisons
Hubs: QQQ correlations · VPV correlations
