ETF Overlap: VOO vs QQQ, VTI, VGT, SCHD and VYM
How much do the most popular ETF pairs overlap? Overlap by weight for VOO and QQQ, VOO and VTI, QQQ and VGT, and SCHD and VYM, how each pair moved, and what owning both does.
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How Much Do VOO, QQQ and VTI Overlap? ETF Overlap by the Numbers
How much of one fund is already in the other, computed from the funds’ own holdings: VOO and QQQ, VOO and VTI, dividend and sector funds, and how much Nvidia, Apple and the other giants you own through each ETF.
Key takeaways
- VOO and QQQ overlap 55.7% by weight: 86 of QQQ’s 101 holdings are also in VOO, and the shared stocks are the same mega‑caps at the top of both (fund holdings disclosures, as of Oct 20, 2026).
- VOO and VTI overlap 89.1% by weight, so holding both changes little: VTI adds 2,974 smaller companies, roughly 11% of the fund.
- NVIDIA is 8.40% of VOO and 8.17% of QQQ, so $10,000 in each holds about $840 and $817 of NVIDIA; in SMH it is 20.42% (as of Oct 20, 2026).
- The 10 largest US stocks make up 40.1% of VOO and 41.5% of QQQ, and 63.1% of VUG.
- Dividend funds overlap far less than broad index funds: SCHD and VYM share 21.9% by weight, against 89.1% for VOO and VTI.
How much do VOO and QQQ overlap?
By weight, 55.7%: that share of the two portfolios is the same stocks at the same weight. 86 of QQQ’s 101 holdings are also in VOO (85% of them), as of Oct 20, 2026. The overlap is concentrated in the largest companies, which both funds weight heavily; QQQ simply puts more of its money in them and leaves out financial companies and anything not listed on the Nasdaq. SPY, the other big S&P 500 fund, shows the same picture: 54.6% with QQQ.
| Stock | Weight in VOO | Weight in QQQ | Counts toward overlap |
|---|---|---|---|
| NVIDIA (NVDA) | 8.40% | 8.17% | 8.17% |
| Apple (AAPL) | 7.39% | 7.82% | 7.39% |
| Microsoft (MSFT) | 5.79% | 6.19% | 5.79% |
| Alphabet (GOOGL + GOOG) | 5.53% | 6.09% | 5.53% |
| Amazon.com (AMZN) | 3.72% | 4.42% | 3.72% |
| Broadcom (AVGO) | 2.54% | 2.49% | 2.49% |
| Meta Platforms (META) | 2.43% | 3.28% | 2.43% |
| Micron Technology (MU) | 1.83% | 4.41% | 1.83% |
| Tesla (TSLA) | 1.52% | 3.02% | 1.52% |
Owning both adds few new companies: 15 of QQQ’s 101 holdings are not in VOO. What the pair changes is weight. QQQ holds Micron Technology at 4.41% against 1.83% in VOO and Tesla at 3.02% against 1.52% in VOO, and no banks or insurers at all. Adding QQQ to VOO is a deliberate tilt to large tech, not extra diversification. More on the pair in ETF overlap for common pairs.
Is it worth holding VOO and VTI?
They overlap 89.1% by weight, so the second fund changes little. VTI holds 3,476 stocks and 502 of them are in VOO; the other 2,974 are mid and small companies that together make up roughly 11% of VTI. Pick one as the core; owning both adds a little small‑cap weight and a second line on the statement. Funds on the same index overlap almost completely: IVV and VOO 96.8%, QQQ and QQQM 99.8%.
| Stock | Weight in VOO | Weight in VTI | Counts toward overlap |
|---|---|---|---|
| NVIDIA (NVDA) | 8.40% | 7.14% | 7.14% |
| Apple (AAPL) | 7.39% | 6.63% | 6.63% |
| Microsoft (MSFT) | 5.79% | 5.20% | 5.20% |
| Alphabet (GOOGL + GOOG) | 5.53% | 4.94% | 4.94% |
| Amazon.com (AMZN) | 3.72% | 3.30% | 3.30% |
How much do popular ETF pairs overlap?
The table covers 30 pairs people often hold together, highest overlap first, from each fund’s holdings as of Oct 20, 2026. Pairs on the same index sit near 100%; growth and tech funds share most of their weight; dividend, equal‑weight and small‑cap funds overlap much less with the S&P 500.
| Pair | Overlap by weight | Shared stocks | Holdings in each |
|---|---|---|---|
| QQQ + QQQM | 99.8% | 101 | 101 / 102 |
| IVV + VOO | 96.8% | 501 | 503 / 505 |
| VTI + SCHB | 96.2% | 2,329 | 3,476 / 2,381 |
| VOO + VTI | 89.1% | 502 | 505 / 3,476 |
| VGT + XLK | 85.1% | 75 | 318 / 75 |
| VUG + SCHG | 82.0% | 88 | 134 / 186 |
| JEPQ + QQQ | 73.1% | 75 | 94 / 101 |
| SMH + SOXX | 69.7% | 23 | 25 / 30 |
| VOO + SPYG | 67.5% | 151 | 505 / 152 |
| QQQ + MGK | 63.3% | 35 | 101 / 52 |
| QQQ + VUG | 61.7% | 55 | 101 / 134 |
| VIG + VYM | 60.8% | 209 | 333 / 593 |
| QQQ + SCHG | 58.6% | 48 | 101 / 186 |
| VOO + VUG | 58.3% | 113 | 505 / 134 |
| VOO + QQQ | 55.7% | 86 | 505 / 101 |
| SPY + QQQ | 54.6% | 86 | 504 / 101 |
| QQQ + XLK | 54.2% | 35 | 101 / 75 |
| QQQ + VGT | 53.7% | 38 | 101 / 318 |
| VOO + QUAL | 45.1% | 114 | 505 / 118 |
| VOO + RSP | 42.3% | 491 | 505 / 504 |
| VOO + VTV | 41.2% | 289 | 505 / 298 |
| JEPI + VOO | 38.1% | 115 | 118 / 505 |
| QQQ + SMH | 31.3% | 21 | 101 / 25 |
| VOO + DIA | 29.3% | 30 | 505 / 30 |
| SCHD + VYM | 21.9% | 79 | 100 / 593 |
| SCHD + DGRO | 20.9% | 32 | 100 / 391 |
| SCHD + VIG | 14.5% | 33 | 100 / 333 |
| VOO + SCHD | 7.6% | 45 | 505 / 100 |
| VTI + VXUS | 0.0% | — | 3,476 / 8,330 |
| VOO + IWM | 0.0% | — | 505 / 1,968 |
How much NVIDIA do I own through my ETFs?
NVIDIA is 8.40% of VOO and 8.17% of QQQ, so $10,000 in each fund holds about $840 and $817 of the stock, and $2,042 in SMH. The table shows the 10 largest US companies’ combined weight in popular funds, with the top 3 on their own. Add the shares you own directly to get your real exposure.
| ETF | NVIDIA | Apple | Alphabet | 10 largest US stocks |
|---|---|---|---|---|
| VUG | 13.49% | 12.51% | 9.25% | 63.1% |
| SCHG | 12.17% | 11.59% | 8.42% | 61.0% |
| VGT | 17.59% | 15.92% | 0.00% | 48.8% |
| XLK | 15.46% | 14.73% | 0.00% | 46.5% |
| QQQ | 8.17% | 7.82% | 6.09% | 41.5% |
| VOO | 8.40% | 7.39% | 5.53% | 40.1% |
| SPY | 7.91% | 7.54% | 5.47% | 40.0% |
| VTI | 7.14% | 6.63% | 4.94% | 35.6% |
| SMH | 20.42% | 0.00% | 0.00% | 25.9% |
| DIA | 2.48% | 3.92% | 3.93% | 19.4% |
| VIG | 0.00% | 4.91% | 0.00% | 18.3% |
| VYM | 0.00% | 0.00% | 0.00% | 6.9% |
| RSP | 0.19% | 0.22% | 0.21% | 2.1% |
| SCHD | 0.00% | 0.00% | 0.00% | 0.0% |
| IWM | 0.00% | 0.00% | 0.00% | 0.0% |
- VUG
- NVIDIA
- 13.49%
- Apple
- 12.51%
- Alphabet
- 9.25%
- 10 largest US stocks
- 63.1%
- SCHG
- NVIDIA
- 12.17%
- Apple
- 11.59%
- Alphabet
- 8.42%
- 10 largest US stocks
- 61.0%
- VGT
- NVIDIA
- 17.59%
- Apple
- 15.92%
- Alphabet
- 0.00%
- 10 largest US stocks
- 48.8%
- XLK
- NVIDIA
- 15.46%
- Apple
- 14.73%
- Alphabet
- 0.00%
- 10 largest US stocks
- 46.5%
- QQQ
- NVIDIA
- 8.17%
- Apple
- 7.82%
- Alphabet
- 6.09%
- 10 largest US stocks
- 41.5%
- VOO
- NVIDIA
- 8.40%
- Apple
- 7.39%
- Alphabet
- 5.53%
- 10 largest US stocks
- 40.1%
- SPY
- NVIDIA
- 7.91%
- Apple
- 7.54%
- Alphabet
- 5.47%
- 10 largest US stocks
- 40.0%
- VTI
- NVIDIA
- 7.14%
- Apple
- 6.63%
- Alphabet
- 4.94%
- 10 largest US stocks
- 35.6%
- SMH
- NVIDIA
- 20.42%
- Apple
- 0.00%
- Alphabet
- 0.00%
- 10 largest US stocks
- 25.9%
- DIA
- NVIDIA
- 2.48%
- Apple
- 3.92%
- Alphabet
- 3.93%
- 10 largest US stocks
- 19.4%
- VIG
- NVIDIA
- 0.00%
- Apple
- 4.91%
- Alphabet
- 0.00%
- 10 largest US stocks
- 18.3%
- VYM
- NVIDIA
- 0.00%
- Apple
- 0.00%
- Alphabet
- 0.00%
- 10 largest US stocks
- 6.9%
- RSP
- NVIDIA
- 0.19%
- Apple
- 0.22%
- Alphabet
- 0.21%
- 10 largest US stocks
- 2.1%
- SCHD
- NVIDIA
- 0.00%
- Apple
- 0.00%
- Alphabet
- 0.00%
- 10 largest US stocks
- 0.0%
- IWM
- NVIDIA
- 0.00%
- Apple
- 0.00%
- Alphabet
- 0.00%
- 10 largest US stocks
- 0.0%
NVIDIA is held by 90 of the 304 ETFs in the data. The funds with the highest weight are sector and growth funds:
| ETF | NVIDIA weight | In $10,000 |
|---|---|---|
| SMH | 20.42% | $2,042 |
| FDG | 18.96% | $1,896 |
| VGT | 17.59% | $1,759 |
| FTEC | 17.47% | $1,747 |
| IYW | 16.88% | $1,688 |
| FBCG | 15.68% | $1,568 |
| VONG | 15.66% | $1,566 |
| XLK | 15.46% | $1,546 |
The same check across all your accounts is in same stocks across accounts and the most held stocks in ETFs.
How concentrated are popular ETFs?
A fund’s 10 largest holdings make up 68.1% of SMH but 2.7% of RSP. The number of holdings says little on its own: a fund with hundreds of stocks can still have a large share in its top 10, which is where overlap between funds piles up.
How is ETF overlap measured?
Overlap by weight takes every stock both funds hold and adds up the smaller of its two weights. Example: NVIDIA is 8.40% of VOO and 8.17% of QQQ, so it adds 8.17% to their overlap. The total is the part of the two portfolios that is identical. Counting shared names alone overstates overlap when a fund holds thousands of small positions, and understates it when a few giants carry most of the weight.
Overlap is not the same as moving together. Two funds with little overlap can still fall together in a selloff, because large US stocks tend to move as a group. See too many ETFs and the ETF overlap tool.
Method and caveats
- Source: each fund’s published holdings (fund holdings disclosures), 304 ETFs, as of Oct 20, 2026. Holdings change daily, so treat the figures as a snapshot.
- Overlap by weight = the sum, over stocks both funds hold, of the smaller of the two weights. Shared stocks = holdings both funds list; pairs with no meaningful overlap show a dash.
- Alphabet’s two share classes (GOOGL and GOOG) are added together. Cash, futures and other non‑stock lines are left out.
- Dollar examples multiply the fund weight by $10,000 and ignore fees and tracking differences.
- Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.
How to see your real exposure with Exent
- Upload a screenshot of your holdings (or a CSV, Excel, PDF or Google Sheet); no brokerage login.
- Exent groups holdings that move together into correlation clusters, so funds that overlap heavily (VOO, VTI and QQQ, say) show up as one bet instead of three.
- It replays your whole portfolio through the 2008, 2020, 2022 and 2025 selloffs and shows which holdings drove the losses.
- The what‑if simulator shows the effect of dropping or merging a fund before you trade.
Frequently asked questions
55.7% by weight, as of Oct 20, 2026. 86 of QQQ’s 101 holdings are also in VOO; the overlap comes mostly from the largest companies, led by NVIDIA, Apple and Microsoft. QQQ adds a heavier tilt to them, not different companies.
It changes little: they overlap 89.1% by weight. VTI holds 3,476 stocks against VOO’s 505; the extra 2,974 are mid and small companies worth roughly 11% of VTI. Owning both mostly duplicates the S&P 500.
Multiply each fund’s NVIDIA weight by what you hold in it. As of Oct 20, 2026, NVIDIA is 8.40% of VOO and 8.17% of QQQ, so $10,000 in each holds about $840 and $817; sector funds hold far more (SMH: 20.42%). Add any shares you own directly.
Less than most pairs: 21.9% by weight as of Oct 20, 2026. SCHD holds 100 stocks picked on dividend quality; VYM holds 593 higher‑yield stocks, so they share 79 names at quite different weights.
For every stock both funds hold, take the smaller of its two weights, then add them up. The total is the share of the two portfolios that is identical: 100% for two funds tracking the same index, 0% for funds with no stock in common.
Not by itself. It means the second fund adds less diversification than its name suggests and concentrates more money in the stocks they share. It matters when the shared stocks are already a large part of your portfolio.
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Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.