# QQQ vs VGT QQQ and VGT overlap by 52.9% of their weight, in the 39 companies both hold, by QQQ's issuer file of 2026-10-15 and VGT's SEC Form N-PORT for the period ended 2026-05-31. Invesco QQQ Trust against Vanguard Information Technology ETF. Canonical page: https://tickerinside.com/compare/qqq-vs-vgt/ Prices through 2026-10-16. QQQ holdings as published 2026-10-15; VGT holdings from its SEC Form N-PORT for the period ended 2026-05-31, filed 2026-07-29. Licence: CC BY 4.0, attribution to TickerInside. ## The short answer These are not two versions of the same bet. VGT is technology as an industry classifies it; QQQ is whatever is large and listed on the Nasdaq, which includes Amazon, Alphabet, Tesla and Meta, none of which VGT holds. ## Key figures | Measure | Value | | --- | --- | | Holdings overlap by weight | 52.9% | | Companies held by both | 39 | | Share of QQQ held in common | 56.0% | | Share of VGT held in common | 75.2% | | Correlation of weekly returns, 3 years | 0.97 | | Cost per year | QQQ 0.18%, VGT 0.09% | | Return, 3 years | QQQ 108.8%, VGT 142.6% | | Worst fall, 3 years | QQQ -21.3%, VGT -25.6% | | Volatility, annualised | QQQ 19.5%, VGT 23.4% | | Positions | QQQ 101, VGT 316 | ## Analysis ### The overlap runs one way, and it is the smaller fund that is contained People reach for these two as if they were interchangeable technology funds, and the holdings say otherwise. Only 39 companies appear in both, and the overlap is lopsided: **75.2%** of VGT sits inside QQQ, but only 56.0% of QQQ sits inside VGT. ### The gap is a classification story VGT follows a technology sector index, so Amazon is a consumer company, Alphabet and Meta are communication services, and Tesla is a car maker. None of them is in VGT. All four are among the largest positions in QQQ. Conversely VGT holds Oracle, IBM, Accenture, Salesforce and Arista, which are not on the Nasdaq or not large enough for QQQ. ### What that classification has been worth, and what it cost The consequence over three years has been real. VGT returned **142.6%** against 108.8% for QQQ, and did it with more volatility, 23.4% against 19.5%, and a deeper fall of -25.6% against -21.3%. A fund with 59.4% of its weight in its ten largest positions moves harder in both directions than one at 46.9%, and that is the trade being made here, not a preference between two labels for the same thing. ## Largest positions held by both | Ticker | Company | In QQQ | In VGT | Counted as overlap | | --- | --- | --- | --- | --- | | NVDA | Nvidia | 8.06% | 16.82% | 8.06% | | AAPL | Apple | 7.69% | 14.57% | 7.69% | | MSFT | Microsoft | 6.17% | 9.46% | 6.17% | | MU | Micron Technology | 4.47% | 4.2% | 4.2% | | AMD | Advanced Micro Devices | 3.9% | 3.21% | 3.21% | | AVGO | Broadcom | 2.52% | 4.21% | 2.52% | | INTC | Intel | 2.13% | 2.03% | 2.03% | | CSCO | Cisco | 1.85% | 1.85% | 1.85% | | LRCX | Lam Research | 1.48% | 1.56% | 1.48% | | AMAT | Applied Materials | 1.45% | 1.4% | 1.4% | | PLTR | Palantir Technologies | 1.96% | 1.35% | 1.35% | | TXN | Texas Instruments | 1.08% | 1.11% | 1.08% | | KLAC | KLA | 0.97% | 1.0% | 0.97% | | PANW | Palo Alto Networks | 1.28% | 0.92% | 0.92% | | SNDK | Sandisk Corp | 0.87% | 0.98% | 0.87% | ## Covariance and correlation Covariance is annualised and expressed in percent squared, so the diagonal is each fund's variance. Dividing the off-diagonal by the two volatilities returns the correlation. | | QQQ | VGT | | --- | --- | --- | | QQQ | 380 | 443.6 | | VGT | 443.6 | 548 | Correlation over 1, 3 and 5 years: 0.96, 0.97, 0.97. ## Method How every figure is produced: https://tickerinside.com/how-the-numbers-are-produced/ Machine readable version of this comparison: https://tickerinside.com/api/v1/compare/qqq-vs-vgt.json ## Cite this page TickerInside, QQQ vs VGT, holdings from QQQ's issuer file of 2026-10-15, and VGT's SEC Form N-PORT for the period ended 2026-05-31, filed 2026-07-29, https://tickerinside.com/compare/qqq-vs-vgt/, CC BY 4.0 TickerInside (https://tickerinside.com/compare/qqq-vs-vgt/)