QQQ vs VOO: 54% overlap
Invesco QQQ Trust and Vanguard S&P 500 ETF share 54.5% 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 1.5. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
QQQ and VOO hold 89 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQ | in VOO | Δ |
|---|---|---|---|
| NVDA | 8.3% | 7.5% | 0.8% |
| AAPL | 7.8% | 6.6% | 1.2% |
| MSFT | 4.7% | 4.3% | 0.4% |
| AMZN | 4.1% | 3.6% | 0.5% |
| GOOGL | 3.0% | 3.2% | 0.2% |
| AVGO | 3.1% | 2.8% | 0.3% |
| GOOG | 2.9% | 2.6% | 0.3% |
| MU | 5.1% | 2.0% | 3.1% |
| META | 3.0% | 1.9% | 1.0% |
| TSLA | 2.6% | 1.8% | 0.8% |
Where QQQ and VOO 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 | VOO | Δ |
|---|---|---|---|
| Information Technology | 59.1% | 38.0% | +21.1pp |
| Financials | 0.2% | 11.6% | −11.4pp |
| Industrials | 3.5% | 8.9% | −5.4pp |
| Health Care | 3.6% | 8.9% | −5.2pp |
| Communication Services | 13.1% | 9.7% | +3.4pp |
| Energy | 0.5% | 3.0% | −2.5pp |
| Consumer Staples | 6.4% | 4.6% | +1.8pp |
| Real Estate | 0.0% | 1.8% | −1.8pp |
Δ is QQQ minus VOO, 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
5.3% of QQQ by weight, held in no part of VOO.
45.3% of VOO 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 | VOO | |
|---|---|---|
| Top 10 holdings | 45.9% | 36.4% |
| Positions held | 104 | 505 |
| 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 VOO overlap?
QQQ and VOO overlap 54.5% by portfolio weight — substantial duplication if you hold both. They share 89 holdings. The figure comes from current issuer holdings files (QQQ as of 2026-07-23, VOO as of 2026-06-30).
How is the overlap between QQQ and VOO 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 VOO 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 VOO?
That depends on your goals — we state facts, not advice. At 54.5% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQ own that VOO doesn't?
QQQ holds 104 positions and VOO holds 505; 15 of QQQ's positions don't appear in VOO at all, and they are 5.3% of QQQ by weight.
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Related comparisons
Sources: issuer holdings files, QQQ as of 2026-07-23, VOO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.