BND vs QQQ: 0% overlap
Vanguard Total Bond Market ETF and Invesco QQQ Trust share 0.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 38 days apart — BND as of 2026-07-31, the rest through 2026-09-07. 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
BND and QQQ hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BND | in QQQ | Δ |
|---|---|---|---|
| CASH | 1.1% | 0.1% | 1.0% |
Where BND 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 | BND | QQQ | Δ |
|---|---|---|---|
| Information Technology | 0.0% | 57.9% | −57.9pp |
| Treasuries | 48.3% | 0.0% | +48.3pp |
| MBS Pass-Through | 20.3% | 0.0% | +20.3pp |
| Corporate — industrial & other | 14.5% | 0.0% | +14.5pp |
| Communication Services | 0.0% | 13.8% | −13.8pp |
| Consumer Discretionary | 0.0% | 10.6% | −10.6pp |
| Financials | 7.9% | 0.2% | +7.7pp |
| Consumer Staples | 0.0% | 6.2% | −6.2pp |
Δ is BND 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
98.9% of BND by weight, held in no part of QQQ.
99.9% of QQQ by weight, held in no part of BND.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| BND | QQQ | |
|---|---|---|
| Top 10 holdings | 71.9% | 46.8% |
| Positions held | 2,031 | 103 |
| Cost per $10,000 held, per year | $3 | $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 BND and QQQ overlap?
BND and QQQ overlap 0.1% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (BND as of 2026-07-31, QQQ as of 2026-09-07).
How is the overlap between BND and QQQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If BND 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 BND and QQQ?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does BND own that QQQ doesn't?
BND holds 2,031 positions and QQQ holds 103; 2,030 of BND's positions don't appear in QQQ at all, and they are 98.9% of BND by weight.
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Related comparisons
Sources: issuer holdings files, BND as of 2026-07-31, QQQ as of 2026-09-07. Weights are fractions of each fund. Diagnostics, not advice.