QQQ vs XFLT: Correlation
Invesco QQQ Trust (QQQ) and XAI Floating Rate & Alternative Income Trust (XFLT) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and XFLT?
Over the past 3 years, QQQ and XFLT moved with a correlation of 0.24, which is weak. The relationship has been stable: the 1-year correlation (0.22) sits close to the 3-year figure. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 84.1 %².
Within QQQ's tracked universe of 4755 assets, XFLT comes in at #2344 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 42.8 percentage points (+26.3% for QQQ against -16.5% for XFLT).
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 XFLT: side by side
| QQQ (Invesco QQQ Trust) | XFLT (XAI Floating Rate & Alternative Income Trust) | |
|---|---|---|
| 1-year return | +26.3% | -16.5% |
| 5-year return | +95.4% | -11.0% |
| Volatility (ann.) | 19.6% | 17.7% |
| Beta vs S&P 500 | 1.28 | 0.36 |
| Max drawdown (3Y) | -22.8% | -47.0% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | XFLT |
|---|---|---|
| 2022 | -32.6% | -20.3% |
| 2023 | +54.9% | +30.4% |
| 2024 | +25.6% | +7.4% |
| 2025 | +20.8% | -15.3% |
| 2026 | +17.7% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XFLT good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and XFLT?
As of 2026-08-27, the correlation of weekly returns between QQQ and XFLT is 0.24 over 3 years, 0.22 over 1 year and 0.31 over 5 years.
Is XFLT a good diversifier for QQQ?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 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-xflt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-xflt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · XFLT correlations
