QQQ vs SCHB: 49% overlap
Invesco QQQ Trust and Schwab U.S. Broad Market ETF share 49.5% 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 2 months apart — SCHB as of 2026-05-31, 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 1.5. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
QQQ and SCHB hold 89 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQ | in SCHB | Δ |
|---|---|---|---|
| NVDA | 8.3% | 7.0% | 1.3% |
| AAPL | 7.8% | 6.3% | 1.5% |
| MSFT | 4.7% | 4.6% | 0.1% |
| AMZN | 4.1% | 3.6% | 0.5% |
| GOOGL | 3.0% | 3.0% | 0.0% |
| AVGO | 3.1% | 2.9% | 0.2% |
| GOOG | 2.9% | 2.4% | 0.5% |
| META | 3.0% | 1.9% | 1.1% |
| TSLA | 2.6% | 1.7% | 1.0% |
| MU | 5.1% | 1.5% | 3.6% |
Where QQQ and SCHB 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 | QQQ | SCHB | Δ |
|---|---|---|---|
| Information Technology | 59.1% | 35.8% | +23.3pp |
| Financials | 0.2% | 11.1% | −10.9pp |
| Industrials | 3.5% | 8.8% | −5.3pp |
| Health Care | 3.6% | 8.4% | −4.8pp |
| Communication Services | 13.1% | 9.6% | +3.5pp |
| Energy | 0.5% | 3.2% | −2.7pp |
| Unclassified | 1.0% | 3.5% | −2.5pp |
| Real Estate | 0.0% | 2.2% | −2.2pp |
Δ is QQQ minus SCHB, 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
7.3% of QQQ by weight, held in no part of SCHB.
50.6% of SCHB by weight, held in no part of QQQ.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| QQQ | SCHB | |
|---|---|---|
| Top 10 holdings | 45.9% | 34.9% |
| Positions held | 104 | 2,407 |
| Cost per $10,000 held, per year | $20 | $3 |
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 QQQ and SCHB overlap?
QQQ and SCHB overlap 49.5% by portfolio weight — moderate overlap. They share 89 holdings. The figure comes from current issuer holdings files (QQQ as of 2026-07-23, SCHB as of 2026-05-31).
How is the overlap between QQQ and SCHB calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If QQQ holds a stock at 6% and SCHB 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 QQQ and SCHB?
That depends on your goals — we state facts, not advice. At 49.5% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQ own that SCHB doesn't?
QQQ holds 104 positions and SCHB holds 2,407; 15 of QQQ's positions don't appear in SCHB at all, and they are 7.3% of QQQ by weight.
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Related comparisons
Sources: issuer holdings files, QQQ as of 2026-07-23, SCHB as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.