QQQ vs VBR: 0% overlap
Invesco QQQ Trust and Vanguard Small-Cap Value ETF 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 27 days apart — VBR as of 2026-06-30, the rest through 2026-07-27. 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
QQQ and VBR hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQ | in VBR | Δ |
|---|---|---|---|
| CASH | 0.1% | 0.8% | 0.6% |
Where QQQ and VBR 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 | VBR | Δ |
|---|---|---|---|
| Information Technology | 57.9% | 9.4% | +48.4pp |
| Financials | 0.2% | 18.3% | −18.1pp |
| Industrials | 3.7% | 18.8% | −15.2pp |
| Communication Services | 13.5% | 2.4% | +11.0pp |
| Real Estate | 0.0% | 9.8% | −9.8pp |
| Materials | 1.1% | 7.2% | −6.1pp |
| Health Care | 3.8% | 8.0% | −4.2pp |
| Utilities | 1.2% | 5.2% | −4.0pp |
Δ is QQQ minus VBR, 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
99.9% of QQQ by weight, held in no part of VBR.
99.2% of VBR 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 | VBR | |
|---|---|---|
| Top 10 holdings | 45.7% | 6.2% |
| Positions held | 104 | 839 |
| Cost per $10,000 held, per year | $20 | $5 |
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 VBR overlap?
QQQ and VBR overlap 0.1% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (QQQ as of 2026-07-27, VBR as of 2026-06-30).
How is the overlap between QQQ and VBR 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 VBR 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 VBR?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQ own that VBR doesn't?
QQQ holds 104 positions and VBR holds 839; 103 of QQQ's positions don't appear in VBR at all, and they are 99.9% of QQQ by weight.
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Related comparisons
Sources: issuer holdings files, QQQ as of 2026-07-27, VBR as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.