EFA vs QQQM: 1% overlap
iShares MSCI EAFE ETF and Invesco NASDAQ 100 ETF share 1.0% 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 — QQQM 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
EFA and QQQM hold 4 of the same securities. The ten contributing most to the overlap figure:
| Holding | in EFA | in QQQM | Δ |
|---|---|---|---|
| ASML | 3.2% | 0.7% | 2.5% |
| ROP | 1.4% | 0.2% | 1.2% |
| CCEP | 0.1% | 0.3% | 0.2% |
| ADP | 0.0% | 0.5% | 0.4% |
Where EFA 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 | EFA | QQQM | Δ |
|---|---|---|---|
| Information Technology | 12.0% | 48.9% | −36.9pp |
| Financials | 25.8% | 0.2% | +25.6pp |
| Industrials | 19.0% | 3.0% | +16.1pp |
| Communication Services | 3.1% | 15.6% | −12.5pp |
| Materials | 5.8% | 1.3% | +4.5pp |
| Consumer Discretionary | 8.3% | 11.9% | −3.6pp |
| Energy | 3.9% | 0.6% | +3.3pp |
| Utilities | 4.5% | 1.6% | +2.9pp |
Δ is EFA 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
94.8% of EFA by weight, held in no part of QQQM.
98.1% of QQQM by weight, held in no part of EFA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| EFA | QQQM | |
|---|---|---|
| Top 10 holdings | 14.5% | 46.7% |
| Positions held | 678 | 103 |
| Cost per $10,000 held, per year | $33 | $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 EFA and QQQM overlap?
EFA and QQQM overlap 1.0% by portfolio weight — largely distinct portfolios. They share 4 holdings. The figure comes from current issuer holdings files (EFA as of 2026-07-23, QQQM as of 2026-02-28).
How is the overlap between EFA and QQQM calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If EFA 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 EFA and QQQM?
That depends on your goals — we state facts, not advice. At 1.0% overlap, each fund still contributes meaningfully distinct exposure.
What does EFA own that QQQM doesn't?
EFA holds 678 positions and QQQM holds 103; 673 of EFA's positions don't appear in QQQM at all, and they are 94.8% of EFA by weight.
You probably hold more than two funds
This page compares EFA and QQQM. 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 EFA vs QQQM
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, EFA as of 2026-07-23, QQQM as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.