SOXQ vs VO: how much do they really overlap?
SOXQ (Invesco PHLX Semiconductor ETF, tracking the PHLX Semiconductor) and VO (Vanguard Mid-Cap ETF, tracking the CRSP US Mid Cap) overlap by roughly 6% by weight. 1 of SOXQ's top 10 holdings also appear in VO. A 50/50 blend of the two behaves like about 71 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 3 holdings appear in both SOXQ and VO. The weight columns show how much of each fund each name represents.
| Holding | in SOXQ | in VO |
|---|---|---|
| MRVL Marvell Technology, Inc. | 5.12% | 0.89% |
| MPWR Monolithic Power Systems, Inc. | 2.32% | 0.72% |
| TER Teradyne, Inc. | 2.60% | 0.58% |
Only in SOXQ
Invesco PHLX Semiconductor ETF — semiconductors. Its biggest holdings that VO 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% |
| LRCX Lam Research Corporation | 4.88% |
| ASML ASML Holding N.V. | 4.41% |
| INTC Intel Corporation | 4.34% |
Only in VO
Vanguard Mid-Cap ETF — US mid-cap. Its biggest holdings that SOXQ 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?
SOXQ 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 ~71 effective positions (grade A), because they hold largely different securities.
Holdings as of — SOXQ: 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 →SOXQ vs VO — FAQ
- How much do SOXQ and VO overlap?
- SOXQ and VO overlap by approximately 6% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 1 of SOXQ's 10 largest holdings are also held by VO. They share 3 of their listed top holdings in total.
- Is it redundant to hold both SOXQ 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 71 positions and a A diversification grade.
- What does VO hold that SOXQ doesn't?
- VO's largest holdings that SOXQ doesn't hold include STX, WDC, VRT, PWR, HWM. Its category is US mid-cap, versus SOXQ's semiconductors.
- Which is more concentrated, SOXQ or VO?
- SOXQ's top 10 holdings are 63% of its listed weight; VO's are 31%. The more concentrated fund leans harder on its largest names.