QQQ vs VXF: 2% overlap
Invesco QQQ Trust and Vanguard Extended Market ETF share 2.1% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
QQQ and VXF hold 8 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQ | in VXF | Δ |
|---|---|---|---|
| SPCX | 1.0% | 1.1% | 0.1% |
| ALAB | 0.3% | 0.7% | 0.5% |
| RKLB | 0.2% | 0.6% | 0.4% |
| CRWV | 0.2% | 0.3% | 0.1% |
| ALNY | 0.2% | 0.5% | 0.3% |
| CASH | 0.1% | 3.8% | 3.6% |
| MSTR | 0.1% | 0.3% | 0.2% |
| MRVL | 0.8% | 0.0% | 0.8% |
Where QQQ and VXF 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 | VXF | Δ |
|---|---|---|---|
| Information Technology | 59.1% | 17.6% | +41.5pp |
| Industrials | 3.5% | 19.8% | −16.3pp |
| Financials | 0.2% | 13.9% | −13.7pp |
| Health Care | 3.6% | 13.2% | −9.5pp |
| Communication Services | 13.1% | 4.5% | +8.7pp |
| Real Estate | 0.0% | 4.8% | −4.8pp |
| Consumer Staples | 6.4% | 2.7% | +3.7pp |
| Cash and/or Derivatives | 0.1% | 3.8% | −3.6pp |
Δ is QQQ minus VXF, 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
97.1% of QQQ by weight, held in no part of VXF.
92.7% of VXF 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 | VXF | |
|---|---|---|
| Top 10 holdings | 45.9% | 10.6% |
| Positions held | 104 | 3,327 |
| 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 VXF overlap?
QQQ and VXF overlap 2.1% by portfolio weight — largely distinct portfolios. They share 8 holdings. The figure comes from current issuer holdings files (QQQ as of 2026-07-23, VXF as of 2026-06-30).
How is the overlap between QQQ and VXF 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 VXF 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 VXF?
That depends on your goals — we state facts, not advice. At 2.1% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQ own that VXF doesn't?
QQQ holds 104 positions and VXF holds 3,327; 96 of QQQ's positions don't appear in VXF at all, and they are 97.1% of QQQ by weight.
You probably hold more than two funds
This page compares QQQ and VXF. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch QQQ vs VXF
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, QQQ as of 2026-07-23, VXF as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.