QQQ vs VTWAX: 31% overlap
Invesco QQQ Trust and Vanguard Total World Stock Index Admiral share 31.4% 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
QQQ and VTWAX hold 103 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQ | in VTWAX | Δ |
|---|---|---|---|
| NVDA | 8.3% | 4.0% | 4.3% |
| AAPL | 7.8% | 3.6% | 4.2% |
| MSFT | 4.7% | 2.4% | 2.3% |
| AMZN | 4.1% | 2.0% | 2.2% |
| GOOGL | 3.0% | 1.8% | 1.2% |
| AVGO | 3.1% | 1.5% | 1.6% |
| GOOG | 2.9% | 1.4% | 1.4% |
| MU | 5.1% | 1.1% | 4.0% |
| META | 3.0% | 1.1% | 1.9% |
| TSLA | 2.6% | 1.1% | 1.6% |
Where QQQ and VTWAX 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 | VTWAX | Δ |
|---|---|---|---|
| Information Technology | 59.1% | 30.1% | +29.0pp |
| Financials | 0.2% | 14.9% | −14.6pp |
| Industrials | 3.5% | 11.5% | −7.9pp |
| Communication Services | 13.1% | 7.0% | +6.2pp |
| Health Care | 3.6% | 7.7% | −4.1pp |
| Unclassified | 1.0% | 3.8% | −2.7pp |
| Energy | 0.5% | 3.0% | −2.5pp |
| Materials | 1.1% | 3.3% | −2.2pp |
Δ is QQQ minus VTWAX, 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
0.5% of QQQ by weight, held in no part of VTWAX.
67.7% of VTWAX 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 | VTWAX | |
|---|---|---|
| Top 10 holdings | 45.9% | 20.5% |
| Positions held | 104 | 9,600 |
| Cost per $10,000 held, per year | $20 | $9 |
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 VTWAX overlap?
QQQ and VTWAX overlap 31.4% by portfolio weight — moderate overlap. They share 103 holdings. The figure comes from current issuer holdings files (QQQ as of 2026-07-23, VTWAX as of 2026-06-30).
How is the overlap between QQQ and VTWAX 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 VTWAX 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 VTWAX?
That depends on your goals — we state facts, not advice. At 31.4% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQ own that VTWAX doesn't?
QQQ holds 104 positions and VTWAX holds 9,600; 1 of QQQ's positions don't appear in VTWAX at all, and they are 0.5% of QQQ by weight.
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Related comparisons
Sources: issuer holdings files, QQQ as of 2026-07-23, VTWAX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.