QQQM vs VIG: 28% overlap
Invesco NASDAQ 100 ETF and Vanguard Dividend Appreciation ETF share 28.4% 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
QQQM and VIG hold 26 of the same securities. The ten contributing most to the overlap figure:
| Holding | in QQQM | in VIG | Δ |
|---|---|---|---|
| AAPL | 7.6% | 4.2% | 3.4% |
| MSFT | 5.7% | 3.5% | 2.2% |
| AVGO | 2.9% | 4.5% | 1.6% |
| WMT | 3.4% | 2.2% | 1.2% |
| COST | 2.4% | 1.8% | 0.6% |
| CSCO | 1.7% | 2.0% | 0.3% |
| LRCX | 1.6% | 2.4% | 0.8% |
| KLAC | 1.1% | 1.7% | 0.6% |
| LIN | 1.3% | 1.0% | 0.2% |
| TXN | 1.0% | 1.2% | 0.1% |
Where QQQM and VIG 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 | VIG | Δ |
|---|---|---|---|
| Information Technology | 48.9% | 26.3% | +22.6pp |
| Financials | 0.2% | 20.2% | −20.0pp |
| Communication Services | 15.6% | 0.0% | +15.6pp |
| Health Care | 5.2% | 17.7% | −12.4pp |
| Industrials | 3.0% | 12.2% | −9.2pp |
| Consumer Discretionary | 11.9% | 4.3% | +7.7pp |
| Unclassified | 2.7% | 0.0% | +2.7pp |
| Energy | 0.6% | 3.0% | −2.3pp |
Δ is QQQM minus VIG, 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
61.7% of QQQM by weight, held in no part of VIG.
68.1% of VIG 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 | VIG | |
|---|---|---|
| Top 10 holdings | 46.7% | 31.9% |
| Positions held | 103 | 333 |
| Cost per $10,000 held, per year | $15 | $4 |
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 VIG overlap?
QQQM and VIG overlap 28.4% by portfolio weight — moderate overlap. They share 26 holdings. The figure comes from current issuer holdings files (QQQM as of 2026-02-28, VIG as of 2026-06-30).
How is the overlap between QQQM and VIG 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 VIG 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 VIG?
That depends on your goals — we state facts, not advice. At 28.4% overlap, each fund still contributes meaningfully distinct exposure.
What does QQQM own that VIG doesn't?
QQQM holds 103 positions and VIG holds 333; 76 of QQQM's positions don't appear in VIG at all, and they are 61.7% of QQQM by weight.
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Related comparisons
Sources: issuer holdings files, QQQM as of 2026-02-28, VIG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.