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 25% by weight. 8 of SOXX's top 10 holdings also appear in VOO. A 50/50 blend of the two behaves like about 43 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 | 6.81% | 7.89% |
| AVGO BROADCOM INC | 6.08% | 3.26% |
| MU MICRON TECHNOLOGY INC | 8.54% | 1.68% |
| AMD ADVANCED MICRO DEVICES INC | 8.09% | 1.29% |
| INTC INTEL CORPORATION | 6.33% | 0.83% |
| LRCX LAM RESEARCH CORP | 4.89% | 0.61% |
| AMAT APPLIED MATERIAL INC | 5.77% | 0.55% |
| TXN TEXAS INSTRUMENT INC | 3.50% | 0.43% |
| QCOM QUALCOMM INC | 2.65% | 0.41% |
| KLAC KLA CORP | 5.64% | 0.39% |
Only in SOXX
iShares Semiconductor ETF — semiconductors. Its biggest holdings that VOO doesn’t have:
| MRVL MARVELL TECHNOLOGY INC | 4.88% |
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING | 4.26% |
| ADI ANALOG DEVICES INC | 3.45% |
| TER TERADYNE INC | 3.36% |
| NXPI NXP SEMICONDUCTORS NV | 3.14% |
| ALAB ASTERA LABS INC | 3.02% |
| MPWR MONOLITHIC POWER SYSTEMS INC | 2.93% |
| ASML ASML HOLDING ADR REPRESENTING NV | 2.30% |
Only in VOO
Vanguard S&P 500 ETF — US large-cap. Its biggest holdings that SOXX 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?
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 ~43 effective positions (grade B).
Holdings as of — SOXX: Jun 30, 2026 (iShares (BlackRock)); 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 →SOXX vs VOO — FAQ
- How much do SOXX and VOO overlap?
- SOXX and VOO overlap by approximately 25% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 8 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 43 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 61%. The more concentrated fund leans harder on its largest names.