Guardfolio Research · ETF Overlap
QQQ vs SCHD Overlap: 5.1% of Weight in Shared Holdings
QQQ (Invesco QQQ) and SCHD (Schwab US Dividend Equity) overlap by 5.1% of normalized weight through 8 shared securities, led by TXN, AMGN, PEP, QCOM, ADP. Here is which positions contribute most and what the result can and cannot say about diversification.
Overlap Summary
Bottom line
QQQ and SCHD barely overlap: only 5.1% of normalized weight across 8 shared securities. For most purposes these behave as distinct exposures..
The Data
Exactly which securities QQQ and SCHD 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; SCHD 2026-08-25 |
| Coverage gate | At least 97% retained per fund |
| Holding | QQQ weight | SCHD weight | Shared (min) |
|---|---|---|---|
| Texas Instruments Inc (TXN) | 1.06% | 3.15% | 1.06% |
| Amgen Inc (AMGN) | 1.05% | 4.78% | 1.05% |
| PepsiCo Inc (PEP) | 0.87% | 3.70% | 0.87% |
| QUALCOMM Inc (QCOM) | 0.75% | 2.37% | 0.75% |
| Automatic Data Processing Inc (ADP) | 0.50% | 2.72% | 0.50% |
| Comcast Corp (CMCSA) | 0.42% | 2.32% | 0.42% |
| Fastenal Co (FAST) | 0.26% | 1.43% | 0.26% |
| Paychex Inc (PAYX) | 0.20% | 0.97% | 0.20% |
| Total full-holdings overlap | 5.1% | 21.4% | 5.1% |
The 5.1% 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; SCHD is dated 2026-08-25 with 99.982% retained coverage.
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Sector Picture
QQQ vs SCHD: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (38.0% combined sector overlap).
| Sector | QQQ | SCHD |
|---|---|---|
| Technology | 53.6% | 8.5% |
| Consumer Discretionary | 13.0% | 8.5% |
| Consumer Staples | 5.0% | 19.4% |
| Industrials | 4.6% | 11.7% |
| Communication Services | 12.6% | 4.5% |
| Healthcare | 4.3% | 15.9% |
The Verdict
Should you hold both QQQ and SCHD?
QQQ and SCHD barely overlap: only 5.1% of normalized weight across 8 shared securities. For most purposes these behave as distinct exposures.
FAQ
QQQ vs SCHD overlap: common questions
How much do QQQ and SCHD overlap?
QQQ (Invesco QQQ) and SCHD (Schwab US Dividend Equity) overlap by approximately 5.1% of normalized weight across their licensed full holdings. They share 8 securities; the largest contributors include TXN, AMGN, PEP, QCOM, ADP, CMCSA, FAST, PAYX. The separately dated sector reference shows 38.0% overlap.
What stocks do QQQ and SCHD both hold?
Both QQQ and SCHD hold Texas Instruments Inc (TXN), Amgen Inc (AMGN), PepsiCo Inc (PEP), QUALCOMM Inc (QCOM), Automatic Data Processing Inc (ADP), Comcast Corp (CMCSA), Fastenal Co (FAST), Paychex Inc (PAYX) among their top positions. These shared names account for the 5.1% weight overlap.
Is it worth holding both QQQ and SCHD?
QQQ and SCHD barely overlap: only 5.1% of normalized weight across 8 shared securities. For most purposes these behave as distinct exposures.
What is the difference between QQQ and SCHD?
QQQ is a large-cap growth fund (US Large-Cap Growth (Nasdaq-100), 0.20% expense ratio) and SCHD is a dividend fund (US Dividend, 0.06% expense ratio). The dataset includes 104 QQQ holdings as of 2026-08-24 and 100 SCHD holdings as of 2026-08-25.
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