SOXX vs VOO: how much do they really overlap?
SOXX (iShares Semiconductor ETF, tracking the NYSE Semiconductor) and VOO (Vanguard S&P 500 ETF, tracking the S&P 500) overlap by roughly 29% by weight. 9 of SOXX's top 10 holdings also appear in VOO. A 50/50 blend of the two behaves like about 42 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 SOXX and VOO. The weight columns show how much of each fund each name represents.
| Holding | in SOXX | in VOO |
|---|---|---|
| NVDA NVIDIA CORP | 8.42% | 7.51% |
| AVGO BROADCOM INC | 7.91% | 2.77% |
| MU MICRON TECHNOLOGY INC | 8.21% | 2.02% |
| AMD ADVANCED MICRO DEVICES INC | 8.57% | 1.47% |
| INTC INTEL CORPORATION | 5.24% | 1.02% |
| AMAT APPLIED MATERIAL INC | 5.08% | 0.89% |
| LRCX LAM RESEARCH CORP | 4.27% | 0.84% |
| KLAC KLA CORP | 4.28% | 0.61% |
| TXN TEXAS INSTRUMENT INC | 4.16% | 0.42% |
| MRVL MARVELL TECHNOLOGY INC | 4.08% | 0.40% |
Only in SOXX
iShares Semiconductor ETF — semiconductors. Its biggest holdings that VOO doesn’t have:
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING | 4.57% |
| ADI ANALOG DEVICES INC | 4.04% |
| MPWR MONOLITHIC POWER SYSTEMS INC | 3.54% |
| NXPI NXP SEMICONDUCTORS NV | 3.48% |
| TER TERADYNE INC | 3.22% |
| QCOM QUALCOMM INC | 2.75% |
| ASML ASML HOLDING ADR REPRESENTING NV | 2.43% |
| ALAB ASTERA LABS INC | 2.38% |
Only in VOO
Vanguard S&P 500 ETF — US large-cap. Its biggest holdings that SOXX doesn’t have:
| AAPL Apple Inc. | 6.59% |
| MSFT Microsoft Corp. | 4.30% |
| AMZN Amazon.com Inc. | 3.62% |
| GOOGL Alphabet Inc. Class A | 3.25% |
| GOOG Alphabet Inc. Class C | 2.59% |
| META Facebook Inc. Class A | 1.92% |
| TSLA Tesla Inc. | 1.84% |
| LLY Eli Lilly & Co. | 1.47% |
So — partly overlapping. Should you hold both?
SOXX 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 ~42 effective positions (grade B).
Holdings as of — SOXX: Jul 30, 2026 (iShares (BlackRock)); VOO: 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 →SOXX vs VOO — FAQ
- How much do SOXX and VOO overlap?
- SOXX and VOO overlap by approximately 29% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 9 of SOXX'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 SOXX 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 42 positions and a B diversification grade.
- What does VOO hold that SOXX doesn't?
- VOO's largest holdings that SOXX doesn't hold include AAPL, MSFT, AMZN, GOOGL, GOOG. Its category is US large-cap, versus SOXX's semiconductors.
- Which is more concentrated, SOXX or VOO?
- SOXX's top 10 holdings are 61% of its listed weight; VOO's are 58%. The more concentrated fund leans harder on its largest names.