QQQ vs VUG: 62% overlap
Invesco QQQ Trust and Vanguard Growth ETF share 61.5% 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 1.4. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
QQQ and VUG hold 56 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQ | in VUG | Δ |
|---|---|---|---|
| NVDA | 8.1% | 13.5% | 5.3% |
| AAPL | 8.1% | 12.5% | 4.4% |
| MSFT | 6.2% | 9.7% | 3.6% |
| AMZN | 4.3% | 4.3% | 0.0% |
| META | 3.1% | 4.2% | 1.2% |
| GOOGL | 3.0% | 5.2% | 2.1% |
| GOOG | 2.8% | 4.1% | 1.3% |
| AMD | 3.6% | 2.7% | 1.0% |
| TSLA | 3.1% | 2.7% | 0.5% |
| AVGO | 2.4% | 4.3% | 1.9% |
Where QQQ and VUG 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 | VUG | Δ |
|---|---|---|---|
| Consumer Staples | 6.6% | 1.3% | +5.3pp |
| Financials | 0.2% | 4.0% | −3.8pp |
| Information Technology | 56.0% | 59.4% | −3.4pp |
| Unclassified | 1.3% | 0.1% | +1.2pp |
| Utilities | 1.1% | 0.0% | +1.1pp |
| Real Estate | 0.0% | 0.9% | −0.9pp |
| Communication Services | 14.5% | 15.2% | −0.7pp |
| Consumer Discretionary | 10.7% | 10.0% | +0.7pp |
Δ is QQQ minus VUG, 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
25.9% of QQQ by weight, held in no part of VUG.
18.7% of VUG 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 | VUG | |
|---|---|---|
| Top 10 holdings | 46.7% | 63.1% |
| Positions held | 102 | 135 |
| 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 VUG overlap?
QQQ and VUG overlap 61.5% by portfolio weight — substantial duplication if you hold both. They share 56 holdings. The figure comes from current issuer holdings files (QQQ as of 2026-10-22, VUG as of 2026-09-30).
How is the overlap between QQQ and VUG 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 VUG 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 VUG?
That depends on your goals — we state facts, not advice. At 61.5% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQ own that VUG doesn't?
QQQ holds 102 positions and VUG holds 135; 46 of QQQ's positions don't appear in VUG at all, and they are 25.9% of QQQ by weight.
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Related comparisons
Sources: issuer holdings files, QQQ as of 2026-10-22, VUG as of 2026-09-30. Weights are fractions of each fund. Diagnostics, not advice.