SOXQ vs VNQ: how much do they really overlap?
SOXQ (Invesco PHLX Semiconductor ETF, tracking the PHLX Semiconductor) and VNQ (Vanguard Real Estate ETF, tracking the MSCI US IMI Real Estate 25/50) overlap by roughly 0% by weight. 0 of SOXQ's top 10 holdings also appear in VNQ. A 50/50 blend of the two behaves like about 41 equally-weighted bets (diversification grade B). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 0 holdings appear in both SOXQ and VNQ. The weight columns show how much of each fund each name represents.
| Holding | in SOXQ | in VNQ |
|---|
Only in SOXQ
Invesco PHLX Semiconductor ETF — semiconductors. Its biggest holdings that VNQ doesn’t have:
| NVDA NVIDIA Corporation | 10.47% |
| MU Micron Technology, Inc. | 8.91% |
| AVGO Broadcom Inc. | 7.87% |
| AMAT Applied Materials, Inc. | 5.83% |
| KLAC KLA Corporation | 5.47% |
| MRVL Marvell Technology, Inc. | 5.12% |
| LRCX Lam Research Corporation | 4.88% |
| ASML ASML Holding N.V. | 4.41% |
Only in VNQ
Vanguard Real Estate ETF — US real estate. Its biggest holdings that SOXQ doesn’t have:
| VRTPX Vanguard Real Estate II Index Fund Institutional Plus Shares | 14.54% |
| WELL Welltower Inc. | 7.68% |
| PLD Prologis Inc. | 7.17% |
| EQIX Equinix Inc. | 5.65% |
| AMT American Tower Corp. | 4.67% |
| SPG Simon Property Group Inc. | 3.57% |
| DLR Digital Realty Trust Inc. | 3.50% |
| O Realty Income Corp. | 3.04% |
So — essentially different. Should you hold both?
SOXQ and VNQ hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~41 effective positions (grade B), because they hold largely different securities.
Holdings as of — SOXQ: Jun 29, 2026 (Invesco); VNQ: 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 →SOXQ vs VNQ — FAQ
- How much do SOXQ and VNQ overlap?
- SOXQ and VNQ overlap by approximately 0% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of SOXQ's 10 largest holdings are also held by VNQ. They share 0 of their listed top holdings in total.
- Is it redundant to hold both SOXQ and VNQ?
- 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 41 positions and a B diversification grade.
- What does VNQ hold that SOXQ doesn't?
- VNQ's largest holdings that SOXQ doesn't hold include VRTPX, WELL, PLD, EQIX, AMT. Its category is US real estate, versus SOXQ's semiconductors.
- Which is more concentrated, SOXQ or VNQ?
- SOXQ's top 10 holdings are 63% of its listed weight; VNQ's are 62%. The more concentrated fund leans harder on its largest names.