QQQ vs SOXQ: how much do they really overlap?
QQQ (Invesco QQQ Trust, tracking the Nasdaq-100) and SOXQ (Invesco PHLX Semiconductor ETF, tracking the PHLX Semiconductor) overlap by roughly 44% by weight. 4 of QQQ's top 10 holdings also appear in SOXQ. A 50/50 blend of the two behaves like about 32 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 10 holdings appear in both QQQ and SOXQ. The weight columns show how much of each fund each name represents.
| Holding | in QQQ | in SOXQ |
|---|---|---|
| NVDA NVIDIA Corporation | 7.60% | 10.47% |
| MU Micron Technology, Inc. | 5.75% | 8.91% |
| AMD Advanced Micro Devices, Inc. | 3.83% | 3.95% |
| INTC Intel Corporation | 2.90% | 4.34% |
| AVGO Broadcom Inc. | 2.82% | 7.87% |
| AMAT Applied Materials, Inc. | 2.24% | 5.83% |
| LRCX Lam Research Corporation | 2.13% | 4.88% |
| KLAC KLA Corporation | 1.46% | 5.47% |
| TXN Texas Instruments Incorporated | 1.17% | 3.53% |
| MRVL Marvell Technology, Inc. | 1.05% | 5.12% |
Only in QQQ
Invesco QQQ Trust — Nasdaq-100. Its biggest holdings that SOXQ doesn’t have:
| AAPL Apple Inc. | 6.80% |
| MSFT Microsoft Corporation | 4.52% |
| 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% |
Only in SOXQ
Invesco PHLX Semiconductor ETF — semiconductors. Its biggest holdings that QQQ doesn’t have:
| 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% |
| NXPI NXP Semiconductors N.V. | 2.52% |
So — partly overlapping. Should you hold both?
QQQ 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 ~32 effective positions (grade B).
Holdings as of — QQQ: Jun 26, 2026 (Invesco); SOXQ: Jun 29, 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 →QQQ vs SOXQ — FAQ
- How much do QQQ and SOXQ overlap?
- QQQ and SOXQ overlap by approximately 44% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of QQQ's 10 largest holdings are also held by SOXQ. They share 10 of their listed top holdings in total.
- Is it redundant to hold both QQQ 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 32 positions and a B diversification grade.
- What does SOXQ hold that QQQ doesn't?
- SOXQ's largest holdings that QQQ doesn't hold include ASML, TSM, ADI, QCOM, ALAB. Its category is semiconductors, versus QQQ's Nasdaq-100.
- Which is more concentrated, QQQ or SOXQ?
- QQQ's top 10 holdings are 63% of its listed weight; SOXQ's are 63%. The more concentrated fund leans harder on its largest names.