QQQ vs SPY: ETF overlap
Holdings as of June 30, 2026 · SEC fund filings · QQQ source document · SPY source document
Overlap by weight: for each stock both funds hold, take the smaller of its two weights, then add those up. 54% means about 54 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 grouping of that figure, not an industry standard. What is ETF overlap?
QQQ and SPY hold 87 of the same stocks, overlapping by 54.4% 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), and holding both gives you exposure to some of the same positions through two funds. The largest shared position is NVIDIA Corp. (NVDA), at 7.6% of QQQ and 7.5% of SPY.
Top shared holdings
| Company | Ticker | % of QQQ | % of SPY |
|---|---|---|---|
| NVIDIA Corp. | NVDA | 7.60% | 7.52% |
| Apple Inc. | AAPL | 6.67% | 6.59% |
| Microsoft Corp. | MSFT | 4.35% | 4.30% |
| Amazon.com, Inc. | AMZN | 4.02% | 3.62% |
| Alphabet Inc. | GOOGL | 3.27% | 3.25% |
| Broadcom Inc. | AVGO | 2.81% | 2.77% |
| Alphabet Inc. | GOOG | 3.02% | 2.59% |
| Micron Technology, Inc. | MU | 5.64% | 2.02% |
| Meta Platforms, Inc. | META | 2.62% | 1.92% |
| Tesla, Inc. | TSLA | 3.30% | 1.84% |
Where the funds tilt differently
| Sector | QQQ | SPY | Difference |
|---|---|---|---|
| Technology | 64.7% | 48.0% | +16.7% QQQ |
| Financial Services | 0.0% | 10.3% | -10.3% SPY |
| Industrials | 0.7% | 5.4% | -4.6% SPY |
| Healthcare | 0.0% | 2.9% | -2.9% SPY |
| Communication Services | 16.7% | 14.2% | +2.5% QQQ |
| Energy | 0.0% | 2.4% | -2.4% SPY |
Fund facts
| QQQ | SPY | |
|---|---|---|
| Fund | Invesco QQQ Trust | State Street SPDR S&P 500 ETF |
| Style | Growth | Growth |
| Assets | — | $819.8B |
| Beta | 1.41 | 1.01 |
| Top sectors | Technology 65%, Communication Services 17%, Consumer Cyclical 12% | Technology 48%, Communication Services 14%, Consumer Cyclical 11% |
Computed from 102 listed holdings of QQQ (100% of the fund) and 503 of SPY ( 100%). How this is computed: methodology. Informational only, not investment advice — see disclosures.
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