Guardfolio Research · ETF Overlap
XLK vs QQQM Overlap: 32.1% of Weight in Shared Holdings
XLK (Technology Select Sector SPDR) and QQQM (Invesco Nasdaq-100) overlap by 32.1% of weight through 6 shared top-10 holdings — including NVDA, AAPL, MSFT, MU, AVGO. Here is exactly which stocks duplicate, the sector picture, and whether holding both concentrates or diversifies your portfolio.
Overlap Summary
Bottom line
XLK and QQQM share 32.1% of their top-10 weight across 6 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 XLK 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 | XLK weight | QQQM weight | Shared (min) |
|---|---|---|---|
| NVIDIA Corp. (NVDA) | 15.11% | 9.34% | 9.34% |
| Apple Inc. (AAPL) | 12.17% | 7.14% | 7.14% |
| Microsoft Corp. (MSFT) | 8.65% | 4.96% | 4.96% |
| Micron Technology, Inc. (MU) | 5.48% | 3.93% | 3.93% |
| Broadcom Inc. (AVGO) | 5.56% | 3.40% | 3.40% |
| Advanced Micro Devices, Inc. (AMD) | 4.65% | 3.30% | 3.30% |
| Total shared top-10 weight | 51.6% | 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
XLK 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 (54.0% combined sector overlap).
| Sector | XLK | QQQM |
|---|---|---|
| Technology | 100.0% | 53.5% |
| Consumer Discretionary | 0.0% | 13.0% |
| Communication Services | 0.0% | 12.6% |
| Consumer Staples | 0.0% | 5.0% |
| Industrials | 0.0% | 4.6% |
| Healthcare | 0.0% | 4.3% |
The Verdict
Should you hold both XLK and QQQM?
XLK and QQQM share 32.1% of their top-10 weight across 6 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
XLK vs QQQM overlap: common questions
How much do XLK and QQQM overlap?
XLK (Technology Select Sector SPDR) and QQQM (Invesco Nasdaq-100) overlap by approximately 32.1% of weight based on their top-10 holdings, with 54.0% sector overlap. They share 6 top-10 holdings: NVDA, AAPL, MSFT, MU, AVGO, AMD.
What stocks do XLK and QQQM both hold?
Both XLK and QQQM hold NVIDIA Corp (NVDA), Apple Inc (AAPL), Microsoft Corp (MSFT), Micron Technology (MU), Broadcom Inc (AVGO), Advanced Micro Devices (AMD) among their top positions. These shared names account for the 32.1% weight overlap.
Is it worth holding both XLK and QQQM?
XLK and QQQM share 32.1% of their top-10 weight across 6 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 XLK and QQQM?
XLK is a technology-sector fund (US Sector – Technology, 0.09% expense ratio) and QQQM is a large-cap growth fund (US Large-Cap Growth (Nasdaq-100), 0.15% expense ratio). XLK's top 10 is 62.9% of the fund; QQQM's is 47.7%.
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