Guardfolio Research · ETF Overlap
QQQ vs IWF Overlap: 58.1% of Weight in Shared Holdings
QQQ (Invesco QQQ) and IWF (iShares Russell 1000 Growth) overlap by 58.1% of normalized weight through 61 shared securities, led by NVDA, AAPL, MSFT, MU, GOOGL. Here is which positions contribute most and what the result can and cannot say about diversification.
Overlap Summary
Bottom line
QQQ and IWF overlap heavily: 58.1% of normalized fund weight is shared across 61 securities. Owning both repeats much of the same exposure, so treat the pair as closely related positions rather than assuming two fund labels create diversification..
The Data
Exactly which securities QQQ and IWF share
The table below shows the largest contributors to overlap across the licensed full holdings, with each fund's normalized weight and the lesser weight that counts toward overlap.
| Data basis | Licensed full holdings |
|---|---|
| Fund dates | QQQ 2026-08-24; IWF 2026-08-24 |
| Coverage gate | At least 97% retained per fund |
| Holding | QQQ weight | IWF weight | Shared (min) |
|---|---|---|---|
| NVIDIA Corp (NVDA) | 8.32% | 15.07% | 8.32% |
| Apple Inc (AAPL) | 7.28% | 7.29% | 7.28% |
| Microsoft Corp (MSFT) | 5.75% | 5.40% | 5.40% |
| Micron Technology Inc (MU) | 4.82% | 3.28% | 3.28% |
| Alphabet Inc (GOOGL) | 3.22% | 6.05% | 3.22% |
| Alphabet Inc (GOOG) | 2.99% | 4.89% | 2.99% |
| Tesla Inc (TSLA) | 2.90% | 3.19% | 2.90% |
| Broadcom Inc (AVGO) | 2.80% | 5.16% | 2.80% |
| Meta Platforms Inc (META) | 2.61% | 2.98% | 2.61% |
| Advanced Micro Devices Inc (AMD) | 3.41% | 2.32% | 2.32% |
| Palantir Technologies Inc (PLTR) | 1.83% | 1.20% | 1.20% |
| Lam Research Corp (LRCX) | 1.74% | 1.18% | 1.18% |
| Applied Materials Inc (AMAT) | 1.73% | 1.17% | 1.17% |
| Netflix Inc (NFLX) | 1.48% | 1.00% | 1.00% |
| Palo Alto Networks Inc (PANW) | 1.29% | 0.87% | 0.87% |
| KLA Corp (KLAC) | 1.06% | 0.72% | 0.72% |
| Texas Instruments Inc (TXN) | 1.06% | 0.72% | 0.72% |
| Sandisk Corp (SNDK) | 1.05% | 0.70% | 0.70% |
| Amazon.com Inc (AMZN) | 4.45% | 0.63% | 0.63% |
| Marvell Technology Inc (MRVL) | 0.92% | 0.62% | 0.62% |
| Total full-holdings overlap | 81.3% | 72.6% | 58.1% |
Showing the 20 largest contributors of 61 shared securities. The total uses every shared security.
The 58.1% figure uses all reported non-cash holdings and sums the lesser normalized weight for each shared security. QQQ is dated 2026-08-24 with 99.986% retained coverage; IWF is dated 2026-08-24 with 99.961% retained coverage.
See your real QQQ + IWF overlap
Most portfolios hold more than two ETFs. Connect your accounts and see how QQQ, IWF, and every other fund you own actually stack — across all brokerages.
7-day free trial · cancel anytime · the 2-ETF tool requires no signup
Sector Picture
QQQ vs IWF: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (88.0% combined sector overlap).
| Sector | QQQ | IWF |
|---|---|---|
| Technology | 53.6% | 52.8% |
| Consumer Discretionary | 13.0% | 13.2% |
| Communication Services | 12.6% | 9.5% |
| Industrials | 4.6% | 5.7% |
| Healthcare | 4.3% | 6.4% |
| Consumer Staples | 5.0% | 2.5% |
The Verdict
Should you hold both QQQ and IWF?
QQQ and IWF overlap heavily: 58.1% of normalized fund weight is shared across 61 securities. Owning both repeats much of the same exposure, so treat the pair as closely related positions rather than assuming two fund labels create diversification.
FAQ
QQQ vs IWF overlap: common questions
How much do QQQ and IWF overlap?
QQQ (Invesco QQQ) and IWF (iShares Russell 1000 Growth) overlap by approximately 58.1% of normalized weight across their licensed full holdings. They share 61 securities; the largest contributors include NVDA, AAPL, MSFT, MU, GOOGL, GOOG, TSLA, AVGO. The separately dated sector reference shows 88.0% overlap.
What stocks do QQQ and IWF both hold?
Both QQQ and IWF hold NVIDIA Corp (NVDA), Apple Inc (AAPL), Microsoft Corp (MSFT), Micron Technology Inc (MU), Alphabet Inc (GOOGL), Alphabet Inc (GOOG), Tesla Inc (TSLA), Broadcom Inc (AVGO) among their top positions. These shared names account for the 58.1% weight overlap.
Is it worth holding both QQQ and IWF?
QQQ and IWF overlap heavily: 58.1% of normalized fund weight is shared across 61 securities. Owning both repeats much of the same exposure, so treat the pair as closely related positions rather than assuming two fund labels create diversification.
What is the difference between QQQ and IWF?
QQQ is a large-cap growth fund (US Large-Cap Growth (Nasdaq-100), 0.20% expense ratio) and IWF is a large-cap growth fund (US Large-Cap Growth, 0.19% expense ratio). The dataset includes 104 QQQ holdings as of 2026-08-24 and 367 IWF holdings as of 2026-08-24.
Related Pages