IJR vs QQQM: how much do they really overlap?
IJR (iShares Core S&P Small-Cap ETF, tracking the S&P SmallCap 600) and QQQM (Invesco Nasdaq-100 ETF, tracking the Nasdaq-100) overlap by roughly 0% by weight. 0 of IJR's top 10 holdings also appear in QQQM. A 50/50 blend of the two behaves like about 139 equally-weighted bets (diversification grade A). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 0 holdings appear in both IJR and QQQM. The weight columns show how much of each fund each name represents.
| Holding | in IJR | in QQQM |
|---|
Only in IJR
iShares Core S&P Small-Cap ETF — US small-cap. Its biggest holdings that QQQM doesn’t have:
| XTSLA BLK CSH FND TREASURY SL AGENCY | 1.96% |
| FORM FORMFACTOR INC | 0.67% |
| VSAT VIASAT INC | 0.66% |
| MOH MOLINA HEALTHCARE INC | 0.65% |
| AGX ARGAN INC | 0.60% |
| BTSG BRIGHTSPRING HEALTH SERVICES INC | 0.60% |
| ESI ELEMENT SOLUTIONS INC | 0.59% |
| MXL MAXLINEAR INC | 0.58% |
Only in QQQM
Invesco Nasdaq-100 ETF — Nasdaq-100. Its biggest holdings that IJR doesn’t have:
| NVDA NVIDIA Corporation | 7.52% |
| AAPL Apple Inc. | 6.59% |
| MU Micron Technology, Inc. | 5.68% |
| MSFT Microsoft Corporation | 4.36% |
| AMZN Amazon.com, Inc. | 4.12% |
| AMD Advanced Micro Devices, Inc. | 3.87% |
| GOOGL Alphabet Inc. | 3.28% |
| TSLA Tesla, Inc. | 3.28% |
So — essentially different. Should you hold both?
IJR and QQQM hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~139 effective positions (grade A), because they hold largely different securities.
Holdings as of — IJR: Jun 30, 2026 (iShares (BlackRock)); QQQM: Jun 29, 2026 (Invesco). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 50); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →IJR vs QQQM — FAQ
- How much do IJR and QQQM overlap?
- IJR and QQQM overlap by approximately 0% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of IJR's 10 largest holdings are also held by QQQM. They share 0 of their listed top holdings in total.
- Is it redundant to hold both IJR and QQQM?
- Because they hold almost none of the same securities — they are complementary, not redundant, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 139 positions and a A diversification grade.
- What does QQQM hold that IJR doesn't?
- QQQM's largest holdings that IJR doesn't hold include NVDA, AAPL, MU, MSFT, AMZN. Its category is Nasdaq-100, versus IJR's US small-cap.
- Which is more concentrated, IJR or QQQM?
- IJR's top 10 holdings are 31% of its listed weight; QQQM's are 63%. The more concentrated fund leans harder on its largest names.