SOXQ vs VOO: how much do they really overlap?
SOXQ (Invesco PHLX Semiconductor ETF, tracking the PHLX Semiconductor) and VOO (Vanguard S&P 500 ETF, tracking the S&P 500) overlap by roughly 27% by weight. 7 of SOXQ's top 10 holdings also appear in VOO. A 50/50 blend of the two behaves like about 39 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 SOXQ and VOO. The weight columns show how much of each fund each name represents.
| Holding | in SOXQ | in VOO |
|---|---|---|
| NVDA NVIDIA Corporation | 10.47% | 7.89% |
| AVGO Broadcom Inc. | 7.87% | 3.26% |
| MU Micron Technology, Inc. | 8.91% | 1.68% |
| AMD Advanced Micro Devices, Inc. | 3.95% | 1.29% |
| INTC Intel Corporation | 4.34% | 0.83% |
| LRCX Lam Research Corporation | 4.88% | 0.61% |
| AMAT Applied Materials, Inc. | 5.83% | 0.55% |
| TXN Texas Instruments Incorporated | 3.53% | 0.43% |
| QCOM QUALCOMM Incorporated | 2.84% | 0.41% |
| KLAC KLA Corporation | 5.47% | 0.39% |
Only in SOXQ
Invesco PHLX Semiconductor ETF — semiconductors. Its biggest holdings that VOO doesn’t have:
| MRVL Marvell Technology, Inc. | 5.12% |
| ASML ASML Holding N.V. | 4.41% |
| TSM Taiwan Semiconductor Manufacturing Company Limited | 4.11% |
| ADI Analog Devices, Inc. | 3.58% |
| ALAB Astera Labs, Inc. | 2.81% |
| COHR Coherent Corp. | 2.75% |
| TER Teradyne, Inc. | 2.60% |
| NXPI NXP Semiconductors N.V. | 2.52% |
Only in VOO
Vanguard S&P 500 ETF — US large-cap. Its biggest holdings that SOXQ doesn’t have:
| AAPL Apple Inc. | 7.05% |
| MSFT Microsoft Corp. | 5.14% |
| AMZN Amazon.com Inc. | 4.07% |
| GOOGL Alphabet Inc. Class A | 3.41% |
| GOOG Alphabet Inc. Class C | 2.71% |
| META Facebook Inc. Class A | 2.13% |
| TSLA Tesla Inc. | 1.89% |
| LLY Eli Lilly & Co. | 1.35% |
So — partly overlapping. Should you hold both?
SOXQ and VOO 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 ~39 effective positions (grade B).
Holdings as of — SOXQ: Jun 29, 2026 (Invesco); VOO: 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 VOO — FAQ
- How much do SOXQ and VOO overlap?
- SOXQ and VOO overlap by approximately 27% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 7 of SOXQ's 10 largest holdings are also held by VOO. They share 10 of their listed top holdings in total.
- Is it redundant to hold both SOXQ and VOO?
- 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 39 positions and a B diversification grade.
- What does VOO hold that SOXQ doesn't?
- VOO's largest holdings that SOXQ doesn't hold include AAPL, MSFT, AMZN, GOOGL, GOOG. Its category is US large-cap, versus SOXQ's semiconductors.
- Which is more concentrated, SOXQ or VOO?
- SOXQ's top 10 holdings are 63% of its listed weight; VOO's are 61%. The more concentrated fund leans harder on its largest names.