QQQ vs VYM: how much do they really overlap?
QQQ (Invesco QQQ Trust, tracking the Nasdaq-100) and VYM (Vanguard High Dividend Yield ETF, tracking the FTSE High Dividend Yield) overlap by roughly 12% by weight. 0 of QQQ's top 10 holdings also appear in VYM. A 50/50 blend of the two behaves like about 84 equally-weighted bets (diversification grade A). In short, the two funds have only a small shared core — they mostly hold different things and are largely complementary.
The same companies, in both funds
These 4 holdings appear in both QQQ and VYM. The weight columns show how much of each fund each name represents.
| Holding | in QQQ | in VYM |
|---|---|---|
| AVGO Broadcom Inc. | 2.82% | 8.51% |
| CSCO Cisco Systems, Inc. | 2.02% | 1.98% |
| TXN Texas Instruments Incorporated | 1.17% | 1.15% |
| LIN Linde plc | 1.08% | 0.96% |
Only in QQQ
Invesco QQQ Trust — Nasdaq-100. Its biggest holdings that VYM doesn’t have:
| NVDA NVIDIA Corporation | 7.60% |
| AAPL Apple Inc. | 6.80% |
| MU Micron Technology, Inc. | 5.75% |
| MSFT Microsoft Corporation | 4.52% |
| AMZN Amazon.com, Inc. | 4.08% |
| AMD Advanced Micro Devices, Inc. | 3.83% |
| GOOGL Alphabet Inc. | 3.20% |
| TSLA Tesla, Inc. | 3.09% |
Only in VYM
Vanguard High Dividend Yield ETF — US high-dividend. Its biggest holdings that QQQ doesn’t have:
| JPM JPMorgan Chase & Co. | 3.14% |
| XOM Exxon Mobil Corp. | 2.53% |
| JNJ Johnson & Johnson | 2.24% |
| CAT Caterpillar Inc. | 1.67% |
| ABBV AbbVie Inc. | 1.59% |
| ORCL Oracle Corp. | 1.57% |
| UNH UnitedHealth Group Inc. | 1.43% |
| CVX Chevron Corp. | 1.41% |
So — mostly different. Should you hold both?
QQQ and VYM have only a small shared core — they mostly hold different things and are largely complementary. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~84 effective positions (grade A), because they hold largely different securities.
Holdings as of — QQQ: Jun 26, 2026 (Invesco); VYM: May 31, 2026 (Vanguard). 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 →QQQ vs VYM — FAQ
- How much do QQQ and VYM overlap?
- QQQ and VYM overlap by approximately 12% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of QQQ's 10 largest holdings are also held by VYM. They share 4 of their listed top holdings in total.
- Is it redundant to hold both QQQ and VYM?
- Because they have only a small shared core — they mostly hold different things and are largely complementary, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 84 positions and a A diversification grade.
- What does VYM hold that QQQ doesn't?
- VYM's largest holdings that QQQ doesn't hold include JPM, XOM, JNJ, CAT, ABBV. Its category is US high-dividend, versus QQQ's Nasdaq-100.
- Which is more concentrated, QQQ or VYM?
- QQQ's top 10 holdings are 63% of its listed weight; VYM's are 44%. The more concentrated fund leans harder on its largest names.