QQQM vs VEA: 1% overlap
Invesco NASDAQ 100 ETF and Vanguard FTSE Developed Markets ETF share 1.4% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 4 months apart — QQQM as of 2026-02-28, the rest through 2026-06-30. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
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
QQQM and VEA hold 7 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQM | in VEA | Δ |
|---|---|---|---|
| ASML | 0.7% | 2.3% | 1.7% |
| SHOP | 0.8% | 0.4% | 0.4% |
| ROP | 0.2% | 0.9% | 0.7% |
| CCEP | 0.3% | 0.1% | 0.2% |
| ADP | 0.5% | 0.0% | 0.4% |
| WBD | 0.4% | 0.0% | 0.4% |
| STX | 0.5% | 0.0% | 0.5% |
Where QQQM and VEA 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 | QQQM | VEA | Δ |
|---|---|---|---|
| Information Technology | 48.9% | 17.1% | +31.8pp |
| Financials | 0.2% | 20.7% | −20.5pp |
| Industrials | 3.0% | 16.9% | −13.9pp |
| Communication Services | 15.6% | 2.5% | +13.1pp |
| Unclassified | 2.7% | 8.9% | −6.2pp |
| Consumer Discretionary | 11.9% | 7.3% | +4.6pp |
| Materials | 1.3% | 5.1% | −3.8pp |
| Consumer Staples | 8.5% | 5.6% | +2.9pp |
Δ is QQQM minus VEA, 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
96.4% of QQQM by weight, held in no part of VEA.
96.3% of VEA by weight, held in no part of QQQM.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| QQQM | VEA | |
|---|---|---|
| Top 10 holdings | 46.7% | 15.2% |
| Positions held | 103 | 3,792 |
| Cost per $10,000 held, per year | $15 | $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 QQQM and VEA overlap?
QQQM and VEA overlap 1.4% by portfolio weight — largely distinct portfolios. They share 7 holdings. The figure comes from current issuer holdings files (QQQM as of 2026-02-28, VEA as of 2026-06-30).
How is the overlap between QQQM and VEA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If QQQM holds a stock at 6% and VEA 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 QQQM and VEA?
That depends on your goals — we state facts, not advice. At 1.4% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQM own that VEA doesn't?
QQQM holds 103 positions and VEA holds 3,792; 95 of QQQM's positions don't appear in VEA at all, and they are 96.4% of QQQM by weight.
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Related comparisons
Sources: issuer holdings files, QQQM as of 2026-02-28, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.