QQQM vs VYM: how much do they really overlap?
QQQM (Invesco Nasdaq-100 ETF, 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 QQQM's top 10 holdings also appear in VYM. A 50/50 blend of the two behaves like about 89 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 QQQM and VYM. The weight columns show how much of each fund each name represents.
| Holding | in QQQM | in VYM |
|---|---|---|
| AVGO Broadcom Inc. | 2.81% | 7.29% |
| CSCO Cisco Systems, Inc. | 2.04% | 1.92% |
| TXN Texas Instruments Incorporated | 1.14% | 1.12% |
| LIN Linde plc | 1.04% | 0.99% |
Only in QQQM
Invesco Nasdaq-100 ETF — Nasdaq-100. Its biggest holdings that VYM 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 VYM
Vanguard High Dividend Yield ETF — US high-dividend. Its biggest holdings that QQQM doesn’t have:
| JPM JPMorgan Chase & Co. | 3.38% |
| JNJ Johnson & Johnson | 2.54% |
| XOM Exxon Mobil Corp. | 2.36% |
| CAT Caterpillar Inc. | 2.01% |
| ABBV AbbVie Inc. | 1.85% |
| BAC Bank of America Corp. | 1.56% |
| UNH UnitedHealth Group Inc. | 1.56% |
| HD Home Depot Inc. | 1.46% |
So — mostly different. Should you hold both?
QQQM 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 ~89 effective positions (grade A), because they hold largely different securities.
Holdings as of — QQQM: Jun 29, 2026 (Invesco); VYM: Jun 30, 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 VYM — FAQ
- How much do QQQM and VYM overlap?
- QQQM 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 QQQM'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 QQQM 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 89 positions and a A diversification grade.
- What does VYM hold that QQQM doesn't?
- VYM's largest holdings that QQQM doesn't hold include JPM, JNJ, XOM, CAT, ABBV. Its category is US high-dividend, versus QQQM's Nasdaq-100.
- Which is more concentrated, QQQM or VYM?
- QQQM's top 10 holdings are 63% of its listed weight; VYM's are 45%. The more concentrated fund leans harder on its largest names.