Guardfolio Research · ETF Concentration
QQQM ETF Concentration: Top 10 Holds 45.9%
QQQM (Invesco Nasdaq-100 ETF) has an HHI of 304.18 and about 32.88 effective positions as of 2026-08-22. The largest holding is about 8.4%; the Top 10 sum to 45.9%, led by NVDA, AAPL, MSFT, MU, AMZN. QQQM tracks the same Nasdaq-100 idea as QQQ at a lower fee, so concentration is nearly identical.
Concentration Snapshot
Band
High concentration versus the Guardfolio 22-fund ETF set. Peer context: VGT HHI 750.94; XLK HHI 590.81; VUG HHI 565.32.
The Data
QQQM top holdings and concentration math
Weights are normalized from licensed full holdings. HHI is the sum of squared percentage weights. Effective positions = 10,000 / HHI. This page is part of Guardfolio's concentration cluster, separate from ETF overlap pair pages.
| Provider | Financial Modeling Prep |
|---|---|
| Fund date | 2026-08-22 |
| Holdings counted | 105 |
| Top 3 / Top 5 | 21.5% / 30.8% |
| Holding | Weight |
|---|---|
| NVIDIA Corp (NVDA) | 8.4% |
| Apple Inc (AAPL) | 7.3% |
| Microsoft Corp (MSFT) | 5.7% |
| Micron Technology Inc (MU) | 4.9% |
| Amazon.com Inc (AMZN) | 4.5% |
| Advanced Micro Devices Inc (AMD) | 3.4% |
| Alphabet Inc (GOOGL) | 3.2% |
| Alphabet Inc (GOOG) | 3.0% |
| Broadcom Inc (AVGO) | 2.8% |
| Tesla Inc (TSLA) | 2.8% |
Educational snapshot only. Holdings and weights change. HHI does not measure return correlation or future risk.
Why it matters
Concentration vs overlap for QQQM holders
QQQM tracks the same Nasdaq-100 idea as QQQ at a lower fee, so concentration is nearly identical. If you also hold QQQ, VUG, IWF or a megacap stock, look-through exposure can stack even when fund labels look different. After this page, check pairwise overlap and the portfolio concentration calculator.
ETF overlap checker · Concentration risk hub · Portfolio X-Ray
FAQ
QQQM concentration: common questions
How concentrated is QQQM?
QQQM has an HHI of 304.18 and about 32.88 effective positions based on licensed full holdings dated 2026-08-22. The largest holding is about 8.4% and the Top 10 holdings sum to about 45.9%.
What are the largest holdings in QQQM?
The largest contributors include NVIDIA Corp (NVDA) 8.4%; Apple Inc (AAPL) 7.3%; Microsoft Corp (MSFT) 5.7%; Micron Technology Inc (MU) 4.9%; Amazon (AMZN) 4.5%; Advanced Micro Devices Inc (AMD) 3.4%; Alphabet Inc (GOOGL) 3.2%; Alphabet Inc (GOOG) 3.0%.
Is QQQM more concentrated than the S&P 500?
Yes on this snapshot. QQQM's HHI of 304.18 sits above broad S&P 500 wrappers in the Guardfolio 22-fund set. Compare Top 10 weight (45.9%) with SPY/VOO on the concentration benchmarks page.
Does concentration mean QQQM overlaps with other ETFs?
Concentration measures how much weight sits in a few names inside one fund. Overlap measures shared holdings across two funds. A concentrated ETF can still pair badly with another fund that owns the same megacaps. Check the ETF overlap checker after you review concentration.
Related concentration pages