Guardfolio Research · ETF Overlap
QQQ vs ITOT Overlap: 32.1% of Weight in Shared Holdings
QQQ (Invesco QQQ) and ITOT (iShares Core S&P Total US Stock Market) overlap by 32.1% of weight through 8 shared top-10 holdings — including NVDA, AAPL, MSFT, AMZN, GOOGL. Here is exactly which stocks duplicate, the sector picture, and whether holding both concentrates or diversifies your portfolio.
Overlap Summary
Bottom line
QQQ and ITOT share 32.1% of their top-10 weight across 8 common holdings. That is significant overlap: the funds reinforce the same bet, so combining them concentrates you more than it diversifies.
The Data
Exactly which stocks QQQ and ITOT share
The table below shows every holding that appears in both funds' top 10, with each fund's weight and the shared (minimum) weight that counts toward overlap.
| Holding | QQQ weight | ITOT weight | Shared (min) |
|---|---|---|---|
| NVIDIA Corp. (NVDA) | 9.35% | 7.91% | 7.91% |
| Apple Inc. (AAPL) | 7.15% | 6.04% | 6.04% |
| Microsoft Corp. (MSFT) | 4.96% | 4.20% | 4.20% |
| Amazon.com, Inc. (AMZN) | 4.68% | 3.60% | 3.60% |
| Alphabet Inc. (GOOGL) | 3.81% | 3.22% | 3.22% |
| Broadcom Inc. (AVGO) | 3.40% | 2.88% | 2.88% |
| Alphabet Inc. (GOOG) | 3.53% | 2.57% | 2.57% |
| Tesla, Inc. (TSLA) | 3.61% | 1.72% | 1.72% |
| Total shared top-10 weight | 40.5% | 32.1% | 32.1% |
Weights are approximate, based on the most recent quarterly holdings. The 32.1% figure is the sum of the lesser of each fund's weight per shared holding (the conservative top-10 method).
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Sector Picture
QQQ vs ITOT: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (68.0% combined sector overlap).
| Sector | QQQ | ITOT |
|---|---|---|
| Technology | 53.6% | 32.2% |
| Consumer Discretionary | 13.0% | 10.5% |
| Communication Services | 12.6% | 7.6% |
| Consumer Staples | 5.0% | 5.0% |
| Industrials | 4.6% | 9.6% |
| Healthcare | 4.3% | 9.1% |
The Verdict
Should you hold both QQQ and ITOT?
QQQ and ITOT share 32.1% of their top-10 weight across 8 common holdings. That is significant overlap: the funds reinforce the same bet, so combining them concentrates you more than it diversifies. Worth knowing before you size both as core positions.
FAQ
QQQ vs ITOT overlap: common questions
How much do QQQ and ITOT overlap?
QQQ (Invesco QQQ) and ITOT (iShares Core S&P Total US Stock Market) overlap by approximately 32.1% of weight based on their top-10 holdings, with 68.0% sector overlap. They share 8 top-10 holdings: NVDA, AAPL, MSFT, AMZN, GOOGL, AVGO, GOOG, TSLA.
What stocks do QQQ and ITOT both hold?
Both QQQ and ITOT hold NVIDIA Corp (NVDA), Apple Inc (AAPL), Microsoft Corp (MSFT), Amazon (AMZN), Alphabet Inc (GOOGL), Broadcom Inc (AVGO), Alphabet Inc (GOOG), Tesla (TSLA) among their top positions. These shared names account for the 32.1% weight overlap.
Is it worth holding both QQQ and ITOT?
QQQ and ITOT share 32.1% of their top-10 weight across 8 common holdings. That is significant overlap: the funds reinforce the same bet, so combining them concentrates you more than it diversifies. Worth knowing before you size both as core positions.
What is the difference between QQQ and ITOT?
QQQ is a large-cap growth fund (US Large-Cap Growth (Nasdaq-100), 0.20% expense ratio) and ITOT is a total US market fund (US Total Market, 0.03% expense ratio). QQQ's top 10 is 47.7% of the fund; ITOT's is 35.2%.
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