QQQ vs SPY: ETF overlap
Holdings as of March 31, 2026 · issuer data + SEC N-PORT filings
These two funds publish on different dates: QQQ as of March 31, 2026, SPY as of August 20, 2026. The overlap figure is stated as of the older of the two, March 31, 2026 — holdings may have changed in the fund with the fresher date since then.
Overlap by weight: for each stock both funds hold, take the smaller of its two weights, then add those up. 53% means about 53 cents of every dollar in one fund is invested in the same companies, at the same size, as the other. The overlap level is PortLens's banding of that figure, not an industry standard. What is ETF overlap?
QQQ and SPY hold 87 of the same stocks, overlapping by 53.1% of portfolio weight — a significant share of your money in one is effectively invested in the other. The funds still differ (QQQ is Growth-styled, SPY Growth), but holding both means the shared names count against you twice. The largest shared position is NVIDIA Corp. (NVDA), at 8.7% of QQQ and 8.0% of SPY.
Top shared holdings
| Company | Ticker | % of QQQ | % of SPY |
|---|---|---|---|
| NVIDIA Corp. | NVDA | 8.68% | 7.98% |
| Apple Inc. | AAPL | 7.63% | 6.95% |
| Microsoft Corp. | MSFT | 5.63% | 5.43% |
| Amazon.com, Inc. | AMZN | 4.58% | 3.87% |
| Alphabet Inc. | GOOGL | 3.43% | 3.03% |
| Broadcom Inc. | AVGO | 3.01% | 2.62% |
| Alphabet Inc. | GOOG | 3.20% | 2.43% |
| Meta Platforms, Inc. | META | 3.46% | 1.82% |
| Micron Technology, Inc. | MU | 2.15% | 1.67% |
| Tesla, Inc. | TSLA | 3.80% | 1.48% |
Where the funds tilt differently
| Sector | QQQ | SPY | Difference |
|---|---|---|---|
| Financial Services | 0.0% | 8.7% | -8.7% SPY |
| Communication Services | 21.1% | 14.5% | +6.6% QQQ |
| Industrials | 0.5% | 5.4% | -4.9% SPY |
| Technology | 57.3% | 53.6% | +3.7% QQQ |
| Consumer Cyclical | 15.3% | 11.7% | +3.5% QQQ |
| Consumer Defensive | 5.7% | 2.4% | +3.3% QQQ |
Fund facts
| QQQ | SPY | |
|---|---|---|
| Fund | Invesco QQQ Trust | State Street SPDR S&P 500 ETF |
| Style | Growth | Growth |
| Assets | — | $814.4B |
| Beta | 1.39 | 1.01 |
| Top sectors | Technology 57%, Communication Services 21%, Consumer Cyclical 15% | Technology 54%, Communication Services 14%, Consumer Cyclical 12% |
Overlap is the sum, over every stock held by both funds, of the smaller of its two portfolio weights — computed from 101 listed constituents of QQQ (covering 100% of the fund) and 504 of SPY (covering 100%). Source: issuer data + SEC N-PORT filings. How this is computed: methodology. Informational only, not investment advice — see disclosures.
Two funds are only part of the picture. A free PortLens scan looks through your whole portfolio — every ETF and stock together — and shows your true exposure, hidden concentration, and a diversification score. No account needed.
Scan your portfolio →