IVV vs SOXQ: how much do they really overlap?
IVV (iShares Core S&P 500 ETF, tracking the S&P 500) and SOXQ (Invesco PHLX Semiconductor ETF, tracking the PHLX Semiconductor) overlap by roughly 25% by weight. 3 of IVV's top 10 holdings also appear in SOXQ. A 50/50 blend of the two behaves like about 41 equally-weighted bets (diversification grade B). In short, the two funds share a meaningful core of the same megacaps, but each also brings real exposure the other lacks.
The same companies, in both funds
These 9 holdings appear in both IVV and SOXQ. The weight columns show how much of each fund each name represents.
| Holding | in IVV | in SOXQ |
|---|---|---|
| NVDA NVIDIA CORP | 7.37% | 10.47% |
| AVGO BROADCOM INC | 2.87% | 7.87% |
| MU MICRON TECHNOLOGY INC | 1.54% | 8.91% |
| AMD ADVANCED MICRO DEVICES INC | 1.24% | 3.95% |
| INTC INTEL CORPORATION | 0.67% | 4.34% |
| AMAT APPLIED MATERIAL INC | 0.62% | 5.83% |
| LRCX LAM RESEARCH CORP | 0.58% | 4.88% |
| TXN TEXAS INSTRUMENT INC | 0.40% | 3.53% |
| KLAC KLA CORP | 0.37% | 5.47% |
Only in IVV
iShares Core S&P 500 ETF — US large-cap. Its biggest holdings that SOXQ doesn’t have:
| AAPL APPLE INC | 7.64% |
| MSFT MICROSOFT CORP | 5.23% |
| AMZN AMAZON.COM INC | 3.60% |
| GOOGL ALPHABET INC CLASS A | 3.05% |
| GOOG ALPHABET INC CLASS C | 2.46% |
| META META PLATFORMS INC CLASS A | 1.85% |
| JPM JPMORGAN CHASE & CO | 1.47% |
| BRKB BERKSHIRE HATHAWAY INC CLASS B | 1.46% |
Only in SOXQ
Invesco PHLX Semiconductor ETF — semiconductors. Its biggest holdings that IVV doesn’t have:
| MRVL Marvell Technology, Inc. | 5.12% |
| ASML ASML Holding N.V. | 4.41% |
| TSM Taiwan Semiconductor Manufacturing Company Limited | 4.11% |
| ADI Analog Devices, Inc. | 3.58% |
| QCOM QUALCOMM Incorporated | 2.84% |
| ALAB Astera Labs, Inc. | 2.81% |
| COHR Coherent Corp. | 2.75% |
| TER Teradyne, Inc. | 2.60% |
So — partly overlapping. Should you hold both?
IVV and SOXQ share a meaningful core of the same megacaps, but each also brings real exposure the other lacks. Held together they keep a shared megacap core but each still pulls in exposure the other lacks, so a 50/50 blend spreads to ~41 effective positions (grade B).
Holdings as of — IVV: Jul 30, 2026 (iShares (BlackRock)); SOXQ: 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 →IVV vs SOXQ — FAQ
- How much do IVV and SOXQ overlap?
- IVV and SOXQ overlap by approximately 25% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 3 of IVV's 10 largest holdings are also held by SOXQ. They share 9 of their listed top holdings in total.
- Is it redundant to hold both IVV and SOXQ?
- Because they share a meaningful core of the same megacaps, but each also brings real exposure the other lacks, holding both is partly redundant: you double up on a shared core (NVDA) while each fund still adds distinct exposure. A 50/50 blend has an effective 41 positions and a B diversification grade.
- What does SOXQ hold that IVV doesn't?
- SOXQ's largest holdings that IVV doesn't hold include MRVL, ASML, TSM, ADI, QCOM. Its category is semiconductors, versus IVV's US large-cap.
- Which is more concentrated, IVV or SOXQ?
- IVV's top 10 holdings are 59% of its listed weight; SOXQ's are 63%. The more concentrated fund leans harder on its largest names.