AVDV vs QQQ: 0% overlap
Avantis International Small Cap Value ETF and Invesco QQQ Trust share 0.5% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 5 months apart — AVDV as of 2026-02-28, the rest through 2026-07-23. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
AVDV and QQQ hold 6 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AVDV | in QQQ | Δ |
|---|---|---|---|
| WBD | 0.3% | 0.3% | 0.0% |
| CASH | 1.2% | 0.1% | 1.0% |
| TRI | 0.1% | 0.1% | 0.1% |
| AEP | 0.0% | 0.3% | 0.3% |
| TER | 0.0% | 0.3% | 0.3% |
| COST | 0.0% | 1.9% | 1.9% |
Where AVDV and QQQ differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | AVDV | QQQ | Δ |
|---|---|---|---|
| Information Technology | 4.8% | 59.1% | −54.3pp |
| Unclassified | 20.7% | 1.0% | +19.7pp |
| Industrials | 18.9% | 3.5% | +15.4pp |
| Materials | 15.6% | 1.1% | +14.6pp |
| Financials | 14.1% | 0.2% | +13.9pp |
| Communication Services | 1.8% | 13.1% | −11.3pp |
| Energy | 5.1% | 0.5% | +4.6pp |
| Consumer Staples | 2.8% | 6.4% | −3.6pp |
Δ is AVDV minus QQQ, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
99.4% of AVDV by weight, held in no part of QQQ.
96.9% of QQQ by weight, held in no part of AVDV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AVDV | QQQ | |
|---|---|---|
| Top 10 holdings | 9.0% | 45.9% |
| Positions held | 1,646 | 104 |
| Cost per $10,000 held, per year | $36 | $20 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do AVDV and QQQ overlap?
AVDV and QQQ overlap 0.5% by portfolio weight — largely distinct portfolios. They share 6 holdings. The figure comes from current issuer holdings files (AVDV as of 2026-02-28, QQQ as of 2026-07-23).
How is the overlap between AVDV and QQQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AVDV holds a stock at 6% and QQQ holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both AVDV and QQQ?
That depends on your goals — we state facts, not advice. At 0.5% overlap, each fund still contributes meaningfully distinct exposure.
What does AVDV own that QQQ doesn't?
AVDV holds 1,646 positions and QQQ holds 104; 1,640 of AVDV's positions don't appear in QQQ at all, and they are 99.4% of AVDV by weight.
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Related comparisons
Sources: issuer holdings files, AVDV as of 2026-02-28, QQQ as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.