Guardfolio Research · ETF Overlap
QQQ vs QQQM Overlap: 47.7% of Weight in Shared Holdings
QQQ (Invesco QQQ) and QQQM (Invesco Nasdaq-100) track the same index, so they hold the same stocks in nearly the same weights — 47.7% top-10 overlap. The decision between them comes down to fees and structure, not holdings.
Overlap Summary
Bottom line
QQQ and QQQM track the same underlying index, so their holdings are essentially identical (47.7% by top-10 weight). Holding both adds no diversification — the only real differences are the expense ratio (0.20% vs 0.15%), issuer, and trading liquidity.
The Data
Exactly which stocks QQQ and QQQM 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 | QQQM weight | Shared (min) |
|---|---|---|---|
| NVIDIA Corp. (NVDA) | 9.35% | 9.34% | 9.34% |
| Apple Inc. (AAPL) | 7.15% | 7.14% | 7.14% |
| Microsoft Corp. (MSFT) | 4.96% | 4.96% | 4.96% |
| Amazon.com, Inc. (AMZN) | 4.68% | 4.68% | 4.68% |
| Micron Technology, Inc. (MU) | 3.94% | 3.93% | 3.93% |
| Alphabet Inc. (GOOGL) | 3.81% | 3.81% | 3.81% |
| Tesla, Inc. (TSLA) | 3.61% | 3.61% | 3.61% |
| Alphabet Inc. (GOOG) | 3.53% | 3.52% | 3.52% |
| Broadcom Inc. (AVGO) | 3.40% | 3.40% | 3.40% |
| Advanced Micro Devices, Inc. (AMD) | 3.31% | 3.30% | 3.30% |
| Total shared top-10 weight | 47.7% | 47.7% | 47.7% |
Weights are approximate, based on the most recent quarterly holdings. The 47.7% 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 QQQM: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (97.0% combined sector overlap).
| Sector | QQQ | QQQM |
|---|---|---|
| Technology | 53.6% | 53.5% |
| Consumer Discretionary | 13.0% | 13.0% |
| Communication Services | 12.6% | 12.6% |
| Consumer Staples | 5.0% | 5.0% |
| Industrials | 4.6% | 4.6% |
| Healthcare | 4.3% | 4.3% |
The Verdict
Should you hold both QQQ and QQQM?
QQQ and QQQM track the same underlying index, so their holdings are essentially identical (47.7% by top-10 weight). Holding both adds no diversification — the only real differences are the expense ratio (0.20% vs 0.15%), issuer, and trading liquidity. Most investors should pick one and consolidate.
FAQ
QQQ vs QQQM overlap: common questions
How much do QQQ and QQQM overlap?
QQQ (Invesco QQQ) and QQQM (Invesco Nasdaq-100) overlap by approximately 47.7% of weight based on their top-10 holdings, with 97.0% sector overlap. They share 10 top-10 holdings: NVDA, AAPL, MSFT, AMZN, MU, GOOGL, TSLA, GOOG, AVGO, AMD.
What stocks do QQQ and QQQM both hold?
Both QQQ and QQQM hold NVIDIA Corp (NVDA), Apple Inc (AAPL), Microsoft Corp (MSFT), Amazon (AMZN), Micron Technology (MU), Alphabet Inc (GOOGL), Tesla (TSLA), Alphabet Inc (GOOG) among their top positions. These shared names account for the 47.7% weight overlap.
Is it worth holding both QQQ and QQQM?
QQQ and QQQM track the same underlying index, so their holdings are essentially identical (47.7% by top-10 weight). Holding both adds no diversification — the only real differences are the expense ratio (0.20% vs 0.15%), issuer, and trading liquidity. Most investors should pick one and consolidate.
What is the difference between QQQ and QQQM?
QQQ is a large-cap growth fund (US Large-Cap Growth (Nasdaq-100), 0.20% expense ratio) and QQQM is a large-cap growth fund (US Large-Cap Growth (Nasdaq-100), 0.15% expense ratio). QQQ's top 10 is 47.7% of the fund; QQQM's is 47.7%.
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