Guardfolio Research · ETF Overlap
QQQ vs VOO Overlap: 53.6% of Weight in Shared Holdings
QQQ (Invesco QQQ) and VOO (Vanguard S&P 500) overlap by 53.6% of normalized weight through 87 shared securities, led by NVDA, AAPL, MSFT, AMZN, GOOGL. Here is which positions contribute most and what the result can and cannot say about diversification.
Overlap Summary
Bottom line
QQQ and VOO overlap heavily: 53.6% of normalized fund weight is shared across 87 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 VOO 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; VOO 2026-08-24 |
| Coverage gate | At least 97% retained per fund |
| Holding | QQQ weight | VOO weight | Shared (min) |
|---|---|---|---|
| NVIDIA Corp (NVDA) | 8.32% | 7.56% | 7.56% |
| Apple Inc (AAPL) | 7.28% | 7.05% | 7.05% |
| Microsoft Corp (MSFT) | 5.75% | 5.37% | 5.37% |
| Amazon.com Inc (AMZN) | 4.45% | 4.13% | 4.13% |
| Alphabet Inc (GOOGL) | 3.22% | 3.25% | 3.22% |
| Broadcom Inc (AVGO) | 2.80% | 2.87% | 2.80% |
| Alphabet Inc (GOOG) | 2.99% | 2.62% | 2.62% |
| Meta Platforms Inc (META) | 2.61% | 1.90% | 1.90% |
| Micron Technology Inc (MU) | 4.82% | 1.44% | 1.44% |
| Tesla Inc (TSLA) | 2.90% | 1.36% | 1.36% |
| Advanced Micro Devices Inc (AMD) | 3.41% | 1.21% | 1.21% |
| Walmart Inc (WMT) | 2.24% | 0.76% | 0.76% |
| Cisco Systems Inc (CSCO) | 1.93% | 0.71% | 0.71% |
| Intel Corp (INTC) | 2.00% | 0.66% | 0.66% |
| Costco Wholesale Corp (COST) | 1.86% | 0.66% | 0.66% |
| Applied Materials Inc (AMAT) | 1.73% | 0.63% | 0.63% |
| Lam Research Corp (LRCX) | 1.74% | 0.57% | 0.57% |
| Netflix Inc (NFLX) | 1.48% | 0.47% | 0.47% |
| Palantir Technologies Inc (PLTR) | 1.83% | 0.44% | 0.44% |
| Palo Alto Networks Inc (PANW) | 1.29% | 0.42% | 0.42% |
| Total full-holdings overlap | 94.3% | 53.7% | 53.6% |
Showing the 20 largest contributors of 87 shared securities. The total uses every shared security.
The 53.6% 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; VOO is dated 2026-08-24 with 99.945% retained coverage.
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Sector Picture
QQQ vs VOO: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (69.0% combined sector overlap).
| Sector | QQQ | VOO |
|---|---|---|
| Technology | 53.6% | 33.1% |
| Consumer Discretionary | 13.0% | 10.4% |
| Communication Services | 12.6% | 8.2% |
| Consumer Staples | 5.0% | 5.5% |
| Industrials | 4.6% | 8.6% |
| Healthcare | 4.3% | 9.3% |
The Verdict
Should you hold both QQQ and VOO?
QQQ and VOO overlap heavily: 53.6% of normalized fund weight is shared across 87 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 VOO overlap: common questions
How much do QQQ and VOO overlap?
QQQ (Invesco QQQ) and VOO (Vanguard S&P 500) overlap by approximately 53.6% of normalized weight across their licensed full holdings. They share 87 securities; the largest contributors include NVDA, AAPL, MSFT, AMZN, GOOGL, AVGO, GOOG, META. The separately dated sector reference shows 69.0% overlap.
What stocks do QQQ and VOO both hold?
Both QQQ and VOO hold NVIDIA Corp (NVDA), Apple Inc (AAPL), Microsoft Corp (MSFT), Amazon (AMZN), Alphabet Inc (GOOGL), Broadcom Inc (AVGO), Alphabet Inc (GOOG), Meta Platforms Inc (META) among their top positions. These shared names account for the 53.6% weight overlap.
Is it worth holding both QQQ and VOO?
QQQ and VOO overlap heavily: 53.6% of normalized fund weight is shared across 87 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 VOO?
QQQ is a large-cap growth fund (US Large-Cap Growth (Nasdaq-100), 0.20% expense ratio) and VOO is an S&P 500 fund (US Large-Cap Blend, 0.03% expense ratio). The dataset includes 104 QQQ holdings as of 2026-08-24 and 506 VOO holdings as of 2026-08-24.
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