QQQM vs VO: how much do they really overlap?
QQQM (Invesco Nasdaq-100 ETF, tracking the Nasdaq-100) and VO (Vanguard Mid-Cap ETF, tracking the CRSP US Mid Cap) overlap by roughly 2% by weight. 0 of QQQM's top 10 holdings also appear in VO. A 50/50 blend of the two behaves like about 131 equally-weighted bets (diversification grade A). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 1 holdings appear in both QQQM and VO. The weight columns show how much of each fund each name represents.
| Holding | in QQQM | in VO |
|---|---|---|
| MRVL Marvell Technology, Inc. | 1.07% | 0.89% |
Only in QQQM
Invesco Nasdaq-100 ETF — Nasdaq-100. Its biggest holdings that VO doesn’t have:
| NVDA NVIDIA Corporation | 7.52% |
| AAPL Apple Inc. | 6.59% |
| MU Micron Technology, Inc. | 5.68% |
| MSFT Microsoft Corporation | 4.36% |
| AMZN Amazon.com, Inc. | 4.12% |
| AMD Advanced Micro Devices, Inc. | 3.87% |
| GOOGL Alphabet Inc. | 3.28% |
| TSLA Tesla, Inc. | 3.28% |
Only in VO
Vanguard Mid-Cap ETF — US mid-cap. Its biggest holdings that QQQM doesn’t have:
| STX Seagate Technology Holdings plc | 1.90% |
| WDC Western Digital Corp. | 1.78% |
| VRT Vertiv Holdings Co. Class A | 1.18% |
| PWR Quanta Services Inc. | 1.06% |
| HWM Howmet Aerospace Inc. | 1.03% |
| CMI Cummins Inc. | 0.89% |
| CEG Constellation Energy Corp. | 0.88% |
| SLB Schlumberger Ltd. | 0.81% |
So — essentially different. Should you hold both?
QQQM and VO hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~131 effective positions (grade A), because they hold largely different securities.
Holdings as of — QQQM: Jun 29, 2026 (Invesco); VO: 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 →QQQM vs VO — FAQ
- How much do QQQM and VO overlap?
- QQQM and VO overlap by approximately 2% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of QQQM's 10 largest holdings are also held by VO. They share 1 of their listed top holdings in total.
- Is it redundant to hold both QQQM and VO?
- Because they hold almost none of the same securities — they are complementary, not redundant, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 131 positions and a A diversification grade.
- What does VO hold that QQQM doesn't?
- VO's largest holdings that QQQM doesn't hold include STX, WDC, VRT, PWR, HWM. Its category is US mid-cap, versus QQQM's Nasdaq-100.
- Which is more concentrated, QQQM or VO?
- QQQM's top 10 holdings are 63% of its listed weight; VO's are 31%. The more concentrated fund leans harder on its largest names.