QQQM vs SOXX: how much do they really overlap?
QQQM (Invesco Nasdaq-100 ETF, tracking the Nasdaq-100) and SOXX (iShares Semiconductor ETF, tracking the NYSE Semiconductor) overlap by roughly 43% by weight. 4 of QQQM's top 10 holdings also appear in SOXX. A 50/50 blend of the two behaves like about 34 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 QQQM and SOXX. The weight columns show how much of each fund each name represents.
| Holding | in QQQM | in SOXX |
|---|---|---|
| NVDA NVIDIA Corporation | 7.52% | 6.81% |
| MU Micron Technology, Inc. | 5.68% | 8.54% |
| AMD Advanced Micro Devices, Inc. | 3.87% | 8.09% |
| INTC Intel Corporation | 2.91% | 6.33% |
| AVGO Broadcom Inc. | 2.81% | 6.08% |
| AMAT Applied Materials, Inc. | 2.43% | 5.77% |
| LRCX Lam Research Corporation | 2.26% | 4.89% |
| KLAC KLA Corporation | 1.60% | 5.64% |
| TXN Texas Instruments Incorporated | 1.14% | 3.50% |
| MRVL Marvell Technology, Inc. | 1.07% | 4.88% |
Only in QQQM
Invesco Nasdaq-100 ETF — Nasdaq-100. Its biggest holdings that SOXX doesn’t have:
| AAPL Apple Inc. | 6.59% |
| MSFT Microsoft Corporation | 4.36% |
| AMZN Amazon.com, Inc. | 4.12% |
| GOOGL Alphabet Inc. | 3.28% |
| TSLA Tesla, Inc. | 3.28% |
| GOOG Alphabet Inc. | 3.05% |
| META Meta Platforms, Inc. | 2.65% |
| WMT Walmart Inc. | 2.46% |
Only in SOXX
iShares Semiconductor ETF — semiconductors. Its biggest holdings that QQQM doesn’t have:
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING | 4.26% |
| ADI ANALOG DEVICES INC | 3.45% |
| TER TERADYNE INC | 3.36% |
| NXPI NXP SEMICONDUCTORS NV | 3.14% |
| ALAB ASTERA LABS INC | 3.02% |
| MPWR MONOLITHIC POWER SYSTEMS INC | 2.93% |
| QCOM QUALCOMM INC | 2.65% |
| ASML ASML HOLDING ADR REPRESENTING NV | 2.30% |
So — partly overlapping. Should you hold both?
QQQM and SOXX 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 ~34 effective positions (grade B).
Holdings as of — QQQM: Jun 29, 2026 (Invesco); SOXX: Jun 30, 2026 (iShares (BlackRock)). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 33); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →QQQM vs SOXX — FAQ
- How much do QQQM and SOXX overlap?
- QQQM and SOXX overlap by approximately 43% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of QQQM's 10 largest holdings are also held by SOXX. They share 10 of their listed top holdings in total.
- Is it redundant to hold both QQQM and SOXX?
- 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 34 positions and a B diversification grade.
- What does SOXX hold that QQQM doesn't?
- SOXX's largest holdings that QQQM doesn't hold include TSM, ADI, TER, NXPI, ALAB. Its category is semiconductors, versus QQQM's Nasdaq-100.
- Which is more concentrated, QQQM or SOXX?
- QQQM's top 10 holdings are 63% of its listed weight; SOXX's are 61%. The more concentrated fund leans harder on its largest names.