FTEC vs QQQ: how much do they really overlap?
FTEC (Fidelity MSCI Information Technology Index ETF, tracking the MSCI US IMI Info Tech 25/50) and QQQ (Invesco QQQ Trust, tracking the Nasdaq-100) overlap by roughly 64% by weight. 10 of FTEC's top 10 holdings also appear in QQQ. A 50/50 blend of the two behaves like about 25 equally-weighted bets (diversification grade C). In short, the two funds share most of their weight in the same names; the second fund adds only modest differentiation.
The same companies, in both funds
These 16 holdings appear in both FTEC and QQQ. The weight columns show how much of each fund each name represents.
| Holding | in FTEC | in QQQ |
|---|---|---|
| NVDA NVIDIA Corporation | 16.20% | 7.60% |
| AAPL Apple Inc. | 14.71% | 6.80% |
| MU Micron Technology, Inc. | 5.19% | 5.75% |
| MSFT Microsoft Corporation | 8.67% | 4.52% |
| AMD Advanced Micro Devices, Inc. | 3.44% | 3.83% |
| AVGO Broadcom Inc. | 3.89% | 2.82% |
| INTC Intel Corporation | 2.32% | 2.90% |
| AMAT Applied Materials, Inc. | 2.06% | 2.24% |
| LRCX Lam Research Corporation | 1.97% | 2.13% |
| CSCO Cisco Systems, Inc. | 1.85% | 2.02% |
| KLAC KLA Corporation | 1.38% | 1.46% |
| SNDK Sandisk Corporation | 1.29% | 1.39% |
| TXN Texas Instruments Incorporated | 1.09% | 1.17% |
| PANW Palo Alto Networks, Inc. | 1.06% | 1.12% |
| PLTR Palantir Technologies Inc. | 1.02% | 1.17% |
+ 1 more shared holdings.
Only in FTEC
Fidelity MSCI Information Technology Index ETF — US tech sector. Its biggest holdings that QQQ doesn’t have:
| IBM International Business Machines Corporation | 1.05% |
| ORCL Oracle Corporation | 1.02% |
| WDC Western Digital Corporation | 0.88% |
| QCOM QUALCOMM Incorporated | 0.86% |
| APH Amphenol Corporation | 0.86% |
| STX Seagate Technology Holdings plc | 0.85% |
| ADI Analog Devices, Inc. | 0.81% |
| GLW Corning Incorporated | 0.77% |
Only in QQQ
Invesco QQQ Trust — Nasdaq-100. Its biggest holdings that FTEC doesn’t have:
| AMZN Amazon.com, Inc. | 4.08% |
| GOOGL Alphabet Inc. | 3.20% |
| TSLA Tesla, Inc. | 3.09% |
| GOOG Alphabet Inc. | 2.98% |
| META Meta Platforms, Inc. | 2.66% |
| WMT Walmart Inc. | 2.54% |
| COST Costco Wholesale Corporation | 1.90% |
| NFLX Netflix, Inc. | 1.40% |
So — heavily overlapping. Should you hold both?
FTEC and QQQ share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold FTEC, adding QQQ mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~25 equal positions, with the top 10 alone at 51% and the Magnificent Seven at 37%.
Holdings as of — FTEC: Jun 27, 2026 (Fidelity); QQQ: Jun 26, 2026 (Invesco). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 25); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →FTEC vs QQQ — FAQ
- How much do FTEC and QQQ overlap?
- FTEC and QQQ overlap by approximately 64% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 10 of FTEC's 10 largest holdings are also held by QQQ. They share 16 of their listed top holdings in total.
- Is it redundant to hold both FTEC and QQQ?
- Because they share most of their weight in the same names; the second fund adds only modest differentiation, holding both is largely redundant — you mostly duplicate the same megacaps and concentrate rather than diversify. A 50/50 blend has an effective 25 positions and a C diversification grade.
- What does QQQ hold that FTEC doesn't?
- QQQ's largest holdings that FTEC doesn't hold include AMZN, GOOGL, TSLA, GOOG, META. Its category is Nasdaq-100, versus FTEC's US tech sector.
- Which is more concentrated, FTEC or QQQ?
- FTEC's top 10 holdings are 80% of its listed weight; QQQ's are 63%. The more concentrated fund leans harder on its largest names.