# QQQM vs SCHG

Invesco Nasdaq 100 ETF against Schwab U.S. Large-Cap Growth ETF.

Canonical page: https://tickerinside.com/compare/qqqm-vs-schg/
Prices through 2026-09-04. QQQM holdings as published 2026-09-05, SCHG 2026-09-03.
Licence: CC BY 4.0, attribution to TickerInside.

## The short answer

Two growth funds that agree on 47 companies and disagree on the rest: 64.5% of QQQM is in SCHG and 67.5% of SCHG is in QQQM. SCHG costs 0.04% against 0.15%, a gap of $11 a year per $10,000, and over three years QQQM returned 96.8% against 89.8%.

## Key figures

| Measure | Value |
| --- | --- |
| Holdings overlap by weight | 59.2% |
| Companies held by both | 47 |
| Share of QQQM held in common | 64.5% |
| Share of SCHG held in common | 67.5% |
| Correlation of weekly returns, 3 years | 0.97 |
| Cost per year | QQQM 0.15%, SCHG 0.04% |
| Return, 3 years | QQQM 96.8%, SCHG 89.8% |
| Worst fall, 3 years | QQQM -21.2%, SCHG -21.9% |
| Volatility, annualised | QQQM 19.4%, SCHG 19.0% |
| Positions | QQQM 101, SCHG 194 |

## Analysis

### An exchange rule against a growth rule

QQQM holds whatever is large on the Nasdaq and not a financial, 101 positions. SCHG holds the growth half of the Dow Jones US large-cap universe, 196 positions, listed anywhere. Nvidia, Apple, Microsoft, Amazon, Alphabet, Broadcom and Meta are in both and sit at the top of both, which is why the overlap reaches 59.2%** of weight from only 47 shared companies.

### Micron on one side, Lilly on the other

Micron is QQQM's largest position that SCHG does not hold, and Walmart, Intel, Cisco, Lam Research and Applied Materials follow it: Nasdaq listings that the growth screen does not score as growth. Eli Lilly, Visa, Mastercard, UnitedHealth and GE Aerospace go the other way, growth companies listed on the NYSE and therefore absent from QQQM. The unshared weight is 35.5% of QQQM and 32.5% of SCHG.

### The fee gap is the largest measurable difference

SCHG charges 0.04% and QQQM 0.15%, so a $10,000 position pays $11** a year more in QQQM. Over three years QQQM returned 96.8% against 89.8%, and over five 97.4% against 87.5%; over the past year the gap was wider, 25.5% against 15.8%. Volatility was 19.4% against 19.0% and the worst falls -21.2% against -21.9%, close enough to call the risk the same.

### How much they move together

Weekly returns correlated at 0.98 over five years, 0.97 over three and 0.91 over the past year, the last a little looser as the unshared names diverged. SCHG's top ten hold 51.7% against 46.8% for QQQM. Holding both stacks the seven largest names, which are in both funds, and spreads the remainder across 250 companies.

## Largest positions held by both

| Ticker | Company | In QQQM | In SCHG | Counted as overlap |
| --- | --- | --- | --- | --- |
| NVDA | NVIDIA Corp | 8.85% | 10.99% | 8.85% |
| AAPL | Apple Inc | 7.46% | 9.57% | 7.46% |
| MSFT | Microsoft Corp | 5.9% | 7.52% | 5.9% |
| AMZN | Amazon.com Inc | 4.42% | 5.03% | 4.42% |
| GOOGL | Alphabet Inc | 3.13% | 3.99% | 3.13% |
| GOOG | Alphabet Inc | 2.91% | 3.18% | 2.91% |
| AVGO | Broadcom Inc | 2.69% | 3.36% | 2.69% |
| META | Meta Platforms Inc | 2.9% | 2.67% | 2.67% |
| TSLA | Tesla Inc | 2.81% | 2.42% | 2.42% |
| AMD | Advanced Micro Devices Inc | 3.41% | 2.29% | 2.29% |
| PLTR | Palantir Technologies Inc | 1.75% | 1.61% | 1.61% |
| COST | Costco Wholesale Corp | 1.78% | 1.57% | 1.57% |
| NFLX | Netflix Inc | 1.44% | 1.33% | 1.33% |
| PANW | Palo Alto Networks Inc | 1.19% | 1.03% | 1.03% |
| KLAC | KLA Corp | 1.06% | 0.87% | 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.

| | QQQM | SCHG |
| --- | --- | --- |
| QQQM | 376 | 357.0 |
| SCHG | 357.0 | 361 |

Correlation over 1, 3 and 5 years: 0.91, 0.97, 0.98.

## 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/qqqm-vs-schg.json