AVDV vs QQQM: 0% overlap
Avantis International Small Cap Value ETF and Invesco NASDAQ 100 ETF share 0.3% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
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 QQQM hold 3 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AVDV | in QQQM | Δ |
|---|---|---|---|
| WBD | 0.3% | 0.4% | 0.1% |
| AEP | 0.0% | 0.4% | 0.4% |
| COST | 0.0% | 2.4% | 2.4% |
Where AVDV and QQQM 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 | QQQM | Δ |
|---|---|---|---|
| Information Technology | 4.8% | 48.9% | −44.2pp |
| Unclassified | 20.7% | 2.7% | +18.0pp |
| Industrials | 18.9% | 3.0% | +15.9pp |
| Materials | 15.6% | 1.3% | +14.4pp |
| Financials | 14.1% | 0.2% | +13.9pp |
| Communication Services | 1.8% | 15.6% | −13.8pp |
| Consumer Staples | 2.8% | 8.5% | −5.7pp |
| Energy | 5.1% | 0.6% | +4.5pp |
Δ is AVDV minus QQQM, 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
100.7% of AVDV by weight, held in no part of QQQM.
96.5% of QQQM 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 | QQQM | |
|---|---|---|
| Top 10 holdings | 9.0% | 46.7% |
| Positions held | 1,646 | 103 |
| Cost per $10,000 held, per year | $36 | $15 |
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 QQQM overlap?
AVDV and QQQM overlap 0.3% by portfolio weight — largely distinct portfolios. They share 3 holdings. The figure comes from current issuer holdings files (AVDV as of 2026-02-28, QQQM as of 2026-02-28).
How is the overlap between AVDV and QQQM 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 QQQM 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 QQQM?
That depends on your goals — we state facts, not advice. At 0.3% overlap, each fund still contributes meaningfully distinct exposure.
What does AVDV own that QQQM doesn't?
AVDV holds 1,646 positions and QQQM holds 103; 1,643 of AVDV's positions don't appear in QQQM at all, and they are 100.7% of AVDV by weight.
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Related comparisons
Sources: issuer holdings files, AVDV as of 2026-02-28, QQQM as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.