DIA vs QQQ: 20% overlap
SPDR Dow Jones Industrial Average ETF and Invesco QQQ Trust share 20.0% 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
DIA and QQQ hold 9 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in QQQ | Δ |
|---|---|---|---|
| MSFT | 4.4% | 4.7% | 0.3% |
| AAPL | 3.7% | 7.8% | 4.1% |
| GOOGL | 3.6% | 3.0% | 0.6% |
| AMZN | 2.7% | 4.1% | 1.5% |
| NVDA | 2.4% | 8.3% | 5.9% |
| CSCO | 1.3% | 2.0% | 0.7% |
| WMT | 1.2% | 2.4% | 1.2% |
| AMGN | 4.3% | 0.9% | 3.4% |
| HON | 2.8% | 0.4% | 2.5% |
Where DIA 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 | DIA | QQQ | Δ |
|---|---|---|---|
| Information Technology | 15.9% | 59.1% | −43.1pp |
| Financials | 28.6% | 0.2% | +28.4pp |
| Industrials | 17.5% | 3.5% | +13.9pp |
| Health Care | 13.6% | 3.6% | +10.0pp |
| Communication Services | 4.7% | 13.1% | −8.4pp |
| Consumer Staples | 3.9% | 6.4% | −2.5pp |
| Materials | 3.6% | 1.1% | +2.5pp |
| Energy | 2.2% | 0.5% | +1.7pp |
Δ is DIA 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
73.5% of DIA by weight, held in no part of QQQ.
66.4% of QQQ by weight, held in no part of DIA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| DIA | QQQ | |
|---|---|---|
| Top 10 holdings | 56.2% | 45.9% |
| Positions held | 31 | 104 |
| Cost per $10,000 held, per year | $16 | $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 DIA and QQQ overlap?
DIA and QQQ overlap 20.0% by portfolio weight — moderate overlap. They share 9 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, QQQ as of 2026-07-23).
How is the overlap between DIA and QQQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If DIA 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 DIA and QQQ?
That depends on your goals — we state facts, not advice. At 20.0% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that QQQ doesn't?
DIA holds 31 positions and QQQ holds 104; 21 of DIA's positions don't appear in QQQ at all, and they are 73.5% of DIA by weight.
You probably hold more than two funds
This page compares DIA and QQQ. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch DIA vs QQQ
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, QQQ as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.