SOXQ vs VXF: how much do they really overlap?
SOXQ (Invesco PHLX Semiconductor ETF, tracking the PHLX Semiconductor) and VXF (Vanguard Extended Market ETF, tracking the S&P Completion) overlap by roughly 8% by weight. 0 of SOXQ's top 10 holdings also appear in VXF. A 50/50 blend of the two behaves like about 75 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 VXF. The weight columns show how much of each fund each name represents.
| Holding | in SOXQ | in VXF |
|---|---|---|
| ALAB Astera Labs, Inc. | 2.81% | 0.73% |
| CRDO Credo Technology Group Holding Ltd | 1.63% | 0.50% |
| MTSI MACOM Technology Solutions Holdings, Inc. | 1.02% | 0.28% |
Only in SOXQ
Invesco PHLX Semiconductor ETF — semiconductors. Its biggest holdings that VXF 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 VXF
Vanguard Extended Market ETF — US mid/small completion. Its biggest holdings that SOXQ doesn’t have:
| SPCX Space Exploration Technologies Corp. Class A | 1.14% |
| SNOW Snowflake Inc. | 0.99% |
| BE Bloom Energy Corp. Class A | 0.89% |
| NET Cloudflare Inc. Class A | 0.88% |
| RKLB Rocket Lab Corp. | 0.58% |
| LNG Cheniere Energy Inc. | 0.56% |
| FERG Ferguson Enterprises Inc./DE | 0.52% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.45% |
So — essentially different. Should you hold both?
SOXQ and VXF hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~75 effective positions (grade A), because they hold largely different securities.
Holdings as of — SOXQ: Jun 29, 2026 (Invesco); VXF: 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 →SOXQ vs VXF — FAQ
- How much do SOXQ and VXF overlap?
- SOXQ and VXF overlap by approximately 8% 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 VXF. They share 3 of their listed top holdings in total.
- Is it redundant to hold both SOXQ and VXF?
- 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 75 positions and a A diversification grade.
- What does VXF hold that SOXQ doesn't?
- VXF's largest holdings that SOXQ doesn't hold include SPCX, SNOW, BE, NET, RKLB. Its category is US mid/small completion, versus SOXQ's semiconductors.
- Which is more concentrated, SOXQ or VXF?
- SOXQ's top 10 holdings are 63% of its listed weight; VXF's are 38%. The more concentrated fund leans harder on its largest names.