QQQ vs VXUS: 2% overlap
Invesco QQQ Trust and Vanguard Total International Stock ETF share 1.7% 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 VXUS hold 11 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQ | in VXUS | Δ |
|---|---|---|---|
| ASML | 0.6% | 1.6% | 0.9% |
| SHOP | 0.9% | 0.4% | 0.5% |
| ROP | 0.2% | 0.7% | 0.5% |
| CASH | 0.1% | 2.2% | 2.1% |
| PDD | 0.2% | 0.1% | 0.1% |
| FER | 0.2% | 0.1% | 0.1% |
| CCEP | 0.2% | 0.0% | 0.2% |
| TRI | 0.2% | 0.0% | 0.2% |
| ADP | 0.5% | 0.0% | 0.5% |
| LIN | 1.0% | 0.0% | 1.0% |
Where QQQ and VXUS 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 | VXUS | Δ |
|---|---|---|---|
| Information Technology | 56.0% | 19.7% | +36.4pp |
| Financials | 0.2% | 20.7% | −20.5pp |
| Communication Services | 14.5% | 3.3% | +11.2pp |
| Industrials | 3.3% | 13.9% | −10.5pp |
| Unclassified | 1.3% | 9.1% | −7.8pp |
| Materials | 1.0% | 5.3% | −4.3pp |
| Consumer Discretionary | 10.7% | 7.4% | +3.3pp |
| Energy | 0.5% | 3.5% | −3.0pp |
Δ is QQQ minus VXUS, 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
95.1% of QQQ by weight, held in no part of VXUS.
94.8% of VXUS 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 | VXUS | |
|---|---|---|
| Top 10 holdings | 46.7% | 15.2% |
| Positions held | 102 | 8,589 |
| 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 VXUS overlap?
QQQ and VXUS overlap 1.7% by portfolio weight — largely distinct portfolios. They share 11 holdings. The figure comes from current issuer holdings files (QQQ as of 2026-10-22, VXUS as of 2026-09-30).
How is the overlap between QQQ and VXUS 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 VXUS 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 VXUS?
That depends on your goals — we state facts, not advice. At 1.7% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQ own that VXUS doesn't?
QQQ holds 102 positions and VXUS holds 8,589; 91 of QQQ's positions don't appear in VXUS at all, and they are 95.1% of QQQ by weight.
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Related comparisons
Sources: issuer holdings files, QQQ as of 2026-10-22, VXUS as of 2026-09-30. Weights are fractions of each fund. Diagnostics, not advice.