IVV vs QQQ: how much do they really overlap?
IVV (iShares Core S&P 500 ETF, tracking the S&P 500) and QQQ (Invesco QQQ Trust, tracking the Nasdaq-100) overlap by roughly 73% by weight. 10 of IVV's top 10 holdings also appear in QQQ. A 50/50 blend of the two behaves like about 46 equally-weighted bets (diversification grade B). 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 25 holdings appear in both IVV and QQQ. The weight columns show how much of each fund each name represents.
| Holding | in IVV | in QQQ |
|---|---|---|
| NVDA NVIDIA CORP | 7.51% | 7.60% |
| AAPL APPLE INC | 6.58% | 6.80% |
| MSFT MICROSOFT CORP | 4.29% | 4.52% |
| AMZN AMAZON.COM INC | 3.61% | 4.08% |
| GOOGL ALPHABET INC CLASS A | 3.25% | 3.20% |
| AVGO BROADCOM INC | 2.77% | 2.82% |
| GOOG ALPHABET INC CLASS C | 2.59% | 2.98% |
| MU MICRON TECHNOLOGY INC | 2.02% | 5.75% |
| META META PLATFORMS INC CLASS A | 1.92% | 2.66% |
| TSLA TESLA INC | 1.83% | 3.09% |
| AMD ADVANCED MICRO DEVICES INC | 1.47% | 3.83% |
| INTC INTEL CORPORATION | 1.02% | 2.90% |
| AMAT APPLIED MATERIAL INC | 0.89% | 2.24% |
| LRCX LAM RESEARCH CORP | 0.84% | 2.13% |
| WMT WALMART INC | 0.77% | 2.54% |
+ 10 more shared holdings.
Only in IVV
iShares Core S&P 500 ETF — US large-cap. Its biggest holdings that QQQ doesn’t have:
| LLY ELI LILLY | 1.47% |
| BRKB BERKSHIRE HATHAWAY INC CLASS B | 1.42% |
| JPM JPMORGAN CHASE & CO | 1.36% |
| JNJ JOHNSON & JOHNSON | 0.95% |
| V VISA INC CLASS A | 0.88% |
| XOM EXXON MOBIL CORP | 0.88% |
| CAT CATERPILLAR INC | 0.76% |
| ABBV ABBVIE INC | 0.69% |
Only in QQQ
Invesco QQQ Trust — Nasdaq-100. Its biggest holdings that IVV doesn’t have:
| Every listed QQQ holding is also in IVV. |
So — heavily overlapping. Should you hold both?
IVV and QQQ share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold IVV, adding QQQ mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~46 equal positions, with the top 10 alone at 40% and the Magnificent Seven at 33%.
Holdings as of — IVV: Jun 30, 2026 (iShares (BlackRock)); QQQ: Jun 26, 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 →IVV vs QQQ — FAQ
- How much do IVV and QQQ overlap?
- IVV and QQQ overlap by approximately 73% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 10 of IVV's 10 largest holdings are also held by QQQ. They share 25 of their listed top holdings in total.
- Is it redundant to hold both IVV 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 46 positions and a B diversification grade.
- What does QQQ hold that IVV doesn't?
- IVV contains essentially all of QQQ's listed holdings.
- Which is more concentrated, IVV or QQQ?
- IVV's top 10 holdings are 58% of its listed weight; QQQ's are 63%. The more concentrated fund leans harder on its largest names.