MGK vs QQQ: 61% overlap
Vanguard Mega Cap Growth ETF and Invesco QQQ Trust share 60.8% 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 1.4. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
MGK and QQQ hold 37 of the same securities. The ten contributing most to the overlap figure:
| Holding | in MGK | in QQQ | Δ |
|---|---|---|---|
| NVDA | 13.2% | 8.3% | 4.9% |
| AAPL | 12.1% | 7.8% | 4.4% |
| MSFT | 7.5% | 4.7% | 2.8% |
| AMZN | 4.4% | 4.1% | 0.3% |
| AMD | 3.2% | 4.0% | 0.8% |
| AVGO | 4.3% | 3.1% | 1.2% |
| GOOGL | 5.9% | 3.0% | 2.9% |
| META | 4.1% | 3.0% | 1.1% |
| GOOG | 4.6% | 2.9% | 1.8% |
| TSLA | 3.9% | 2.6% | 1.3% |
Where MGK 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 | MGK | QQQ | Δ |
|---|---|---|---|
| Consumer Staples | 0.4% | 6.4% | −6.0pp |
| Financials | 4.0% | 0.2% | +3.7pp |
| Communication Services | 16.2% | 13.1% | +3.1pp |
| Health Care | 4.9% | 3.6% | +1.2pp |
| Utilities | 0.0% | 1.2% | −1.2pp |
| Consumer Discretionary | 11.2% | 10.0% | +1.2pp |
| Real Estate | 1.2% | 0.0% | +1.2pp |
| Unclassified | 0.0% | 1.0% | −1.0pp |
Δ is MGK 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
16.9% of MGK by weight, held in no part of QQQ.
33.9% of QQQ by weight, held in no part of MGK.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| MGK | QQQ | |
|---|---|---|
| Top 10 holdings | 63.5% | 45.9% |
| Positions held | 57 | 104 |
| Cost per $10,000 held, per year | $5 | $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 MGK and QQQ overlap?
MGK and QQQ overlap 60.8% by portfolio weight — substantial duplication if you hold both. They share 37 holdings. The figure comes from current issuer holdings files (MGK as of 2026-06-30, QQQ as of 2026-07-23).
How is the overlap between MGK and QQQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If MGK 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 MGK and QQQ?
That depends on your goals — we state facts, not advice. At 60.8% overlap, each fund still contributes meaningfully distinct exposure.
What does MGK own that QQQ doesn't?
MGK holds 57 positions and QQQ holds 104; 20 of MGK's positions don't appear in QQQ at all, and they are 16.9% of MGK by weight.
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Related comparisons
Sources: issuer holdings files, MGK as of 2026-06-30, QQQ as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.