It is, but the fact that Jews and Asians are regularly the top of the list on IQ should tell you that its not as simple as "attractiveness and IQ are correlated, end of." Because both, if you remove the factor of job/money from the equation due to that's coloring effect, will regularly be mid-low on attractiveness scales in most societies.

So the "trade off" cope is likely equally as off base as the "smart people are also hot" one.

In the case of attractive women, I'd wager that, IQ or not, they never had to work as hard to achieve the same results due to being hotter and getting higher marks off that fact. Leaving them in reality dumber despite their capability once that was taken away, even if they could achieve much higher marks if given those tools and experiences.