QQQM vs VIG: Correlation & Overlap
Invesco Nasdaq 100 ETF (QQQM) and Vanguard Dividend Appreciation ETF (VIG) show a strong relationship: their 3-year correlation of weekly returns is 0.76. By holdings, the two funds overlap 30.0% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQM and VIG?
Over the past 3 years, QQQM and VIG moved with a correlation of 0.76, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.61 versus 0.76 over 3 years. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 176.8 %².
Within QQQM's tracked universe of 103 assets, VIG comes in at #26 by 3-year correlation. The trailing year gives QQQM the advantage: +26.4% versus +17.1%, a 9.3-point spread. On a rolling one-year basis the correlation drifted between 0.60 and 0.88, a moderate band. Note the risk asymmetry: QQQM runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
QQQM vs VIG: side by side
| QQQM (Invesco Nasdaq 100 ETF) | VIG (Vanguard Dividend Appreciation ETF) | |
|---|---|---|
| 1-year return | +26.4% | +17.1% |
| 5-year return | +96.1% | +64.0% |
| Volatility (ann.) | 19.5% | 11.9% |
| Beta vs S&P 500 | 1.28 | 0.74 |
| Max drawdown (3Y) | -22.7% | -15.0% |
| Dividend yield | 0.46% | 1.50% |
| Expense ratio | 0.15% | 0.04% |
| Assets under management | $97.1B | $130.9B |
| Sector / category | ETF · US Growth & Tech | ETF · Dividend |
QQQM, Invesco's Large Growth fund, carries $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield. VIG, Vanguard's Large Blend fund, carries $130.9B under management, 333 holdings, a 0.04% expense ratio, a 1.50% trailing dividend yield.
Portfolio overlap between QQQM and VIG
The two portfolios partially overlap. Weighing the shared positions, 30.0% of the two funds is identical, spread across 28 common holdings. That shared book is a large part of why the returns line up.
| Common holding | Weight in QQQM | Weight in VIG |
|---|---|---|
| AAPL | 7.39% | 4.47% |
| MSFT | 5.93% | 4.35% |
| AVGO | 2.71% | 4.65% |
| WMT | 2.26% | 2.12% |
| CSCO | 1.96% | 1.99% |
| COST | 1.88% | 1.83% |
| LRCX | 1.73% | 1.59% |
| TXN | 1.06% | 1.09% |
| KLAC | 1.07% | 1.04% |
| LIN | 1.00% | 0.96% |
| AMGN | 1.06% | 0.90% |
| PEP | 0.86% | 0.83% |
| ADI | 0.80% | 0.78% |
| GILD | 0.81% | 0.70% |
| QCOM | 0.76% | 0.68% |
Largest positions held only by QQQM: NVDA (8.15%), MU (4.69%), AMZN (4.50%), AMD (3.48%), GOOGL (3.20%). Only by VIG: JPM (4.09%), LLY (3.94%), XOM (2.80%), JNJ (2.68%), V (2.46%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | QQQM | VIG |
|---|---|---|
| 2022 | -32.5% | -9.8% |
| 2023 | +55.0% | +14.5% |
| 2024 | +25.7% | +17.0% |
| 2025 | +20.9% | +14.2% |
| 2026 | +17.7% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQM and VIG good diversifiers for each other?
Only partially. A correlation of 0.76 means QQQM and VIG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QQQM and VIG?
The QQQM/VIG correlation stands at 0.76 on a 3-year window (1 year: 0.61, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is VIG a good diversifier for QQQM?
Only partially. A correlation of 0.76 means QQQM and VIG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
How much do QQQM and VIG overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 30.0% by weight over 28 common positions.
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Hubs: QQQM correlations · VIG correlations
