VOO vs QQQ

Name: VOO vs QQQ: holdings overlap, returns and correlation
Creator: TickerInside
License: https://creativecommons.org/licenses/by/4.0/

VOO and QQQ overlap by 54.0% of their weight, in the 86 companies both hold, by VOO's SEC Form N-PORT for the period ended 2026-06-30 and QQQ's issuer file of 2026-10-15.

Vanguard S&P 500 ETF against Invesco QQQ Trust.

Edited by VoidLab Data through 2026-10-16 Last revised 2026-10-15

View as Markdown What changed

Overlap

54.0%

86 companies in both

about half the same weight

Correlation

0.95

weekly returns, 3 years

almost always in step

Cheaper

VOO

0.03% against 0.18%

Higher, 3 years

QQQ

108.8% against 90.4%

Fell less

VOO

-16.7% against -21.3%

The short answer

QQQ is largely a subset of VOO: 93.0% of its weight is already in the S&P 500. Held together, the two add weight to the 86 companies both hold, the largest names in the index.

The two funds

VOO

Vanguard S&P 500 ETF

Last close, 2026-10-15: $709.43 +0.28%
Cost per year: 0.03%cheaper
Return, 1 year: 17.5%
Return, 3 years: 90.4%
Worst fall, 3 years: -16.7%shallower
Volatility: 14.2%calmer
Positions: 504
Top 10 weight: 36.4%

QQQ

Invesco QQQ Trust

Last close, 2026-10-15: $728.00 -0.13%
Cost per year: 0.18%
Return, 1 year: 21.1%higher
Return, 3 years: 108.8%higher
Worst fall, 3 years: -21.3%
Volatility: 19.5%
Positions: 101
Top 10 weight: 46.9%

VOO and QQQ, prices through 2026-10-16. How the badges are decided.

Holdings overlap

54.0%

86 companies sit in both funds. That is 54.5% of VOO's own weight and 93.0% of QQQ's.

Side by side

Cost per yearlower is better

VOO0.03%

QQQ0.18%

Return, 1 yearhigher is better

VOO17.5%

QQQ21.1%

Return, 3 yearshigher is better

VOO90.4%

QQQ108.8%

Worst fall, 3 yearsshallower is better

VOO-16.7%

QQQ-21.3%

Volatilitycalmer is better

VOO14.2%

QQQ19.5%

Top 10 weight

VOO36.4%

QQQ46.9%

VOO against QQQ, each pair of bars on a shared scale, prices through 2026-10-16.

VOO weight also held by QQQ54.5%

QQQ weight also held by VOO93.0%

VOO from its SEC Form N-PORT for the period ended 30 Jun 2026, QQQ from its issuer file of 15 Oct 2026

Each bar is one whole fund, cut at the share it holds in common with the other. 54.0% of their weight is held in common, in the 86 companies both own.

What the numbers say

Almost all of QQQ is already in VOO

This is the most common pairing in US retail portfolios, and the overlap runs almost entirely in one direction. Of QQQ's weight, 93.0% is in companies VOO also holds. Of VOO's weight, only 54.5% is in companies QQQ holds. QQQ has 101 positions against 504.

QQQ removes half the index rather than adding to it

What QQQ does is take out the other half of the S&P 500. JPMorgan, Berkshire, Eli Lilly, Exxon and Johnson & Johnson are in VOO and absent from QQQ, because they are not listed on the Nasdaq. What QQQ adds is thin: 15 names VOO does not hold, mostly foreign-domiciled Nasdaq listings such as ASML, Arm and MercadoLibre.

A more concentrated version of the same market

QQQ holds 46.9% of its weight in ten companies against 36.4% for VOO, has returned 108.8% over three years against 90.4%, and fell -21.3% at its worst against -16.7%.

What holding both amounts to

The pair keeps the S&P 500 and adds weight to its largest technology names. It is not diversification: the two funds' weekly returns correlate at 0.95 over three years, and the added weight sits in a single corner of the market.

Where they hold the same companies

Measure	Value
Overlap by weight	54.0%
Share of VOO held in common with QQQ	54.5%
Share of QQQ held in common with VOO	93.0%
Companies in both	86
Positions in VOO / QQQ	504 / 101

VOO holdings from its SEC Form N-PORT for the period ended 2026-06-30, filed 2026-08-28; QQQ holdings as published 2026-10-15.

Largest positions held by both

Rank	Company	In VOO	In QQQ	Overlap
1	NVDA Nvidia	7.51%	8.06%	7.51%
2	AAPL Apple	6.59%	7.69%	6.59%
3	MSFT Microsoft	4.3%	6.17%	4.3%
4	AMZN Amazon	3.62%	4.23%	3.62%
5	GOOGL Alphabet Class A	3.25%	3.16%	3.16%
6	GOOG Alphabet Class C	2.59%	2.94%	2.59%
7	AVGO Broadcom	2.77%	2.52%	2.52%
8	MU Micron Technology	2.02%	4.47%	2.02%
9	META Meta Platforms	1.92%	3.37%	1.92%
10	TSLA Tesla	1.84%	2.93%	1.84%
11	AMD Advanced Micro Devices	1.47%	3.9%	1.47%
12	INTC Intel	1.02%	2.13%	1.02%
13	AMAT Applied Materials	0.89%	1.45%	0.89%
14	LRCX Lam Research	0.84%	1.48%	0.84%
15	WMT Walmart	0.77%	2.44%	0.77%

Held by only one of them

In VOO only	Weight	In QQQ only	Weight
LLY Eli Lilly	1.47%	SPCX Space Exploration Technologies Corp	2.71%
BRK.B Berkshire Hathaway	1.42%	SHOP Shopify	0.92%
JPM JPMorgan Chase	1.26%	ASML ASML	0.66%
JNJ Johnson & Johnson	0.95%	ARM ARM Holdings PLC	0.45%
XOM ExxonMobil	0.88%	MELI MercadoLibre	0.4%
V Visa	0.87%	MSTR Strategy	0.23%
CAT Caterpillar	0.76%	PDD PDD Holdings Inc	0.23%
ABBV AbbVie	0.69%	ALAB Astera Labs	0.22%
MA Mastercard	0.64%	CCEP Coca-Cola Europacific Partners	0.2%
GE GE Aerospace	0.6%	NBIS Nebius Group NV	0.19%

Covariance and correlation

Covariance, annualised (%²)

	VOO	QQQ
VOO	202	260.7
QQQ	260.7	380

Percent squared per year, three years of weekly returns

Correlation, 3 years

	VOO	QQQ
VOO	1.00	0.95almost always in step
QQQ	0.95almost always in step	1.00

Weekly total returns, what the bands mean

Check it: 260.7 divided by (14.2 × 19.5) is 0.94, the correlation in the second matrix.

One year, side by side

VOO 115 QQQ 118

2025-10-242026-10-16

Both rebased to 100 a year ago, weekly closes.

Cost, returns and risk

Measure	VOO	QQQ
Expense ratio	0.03%	0.18%
Dividend yield	n/a	0.42%
Total return, 1 year	17.5%	21.1%
Total return, 3 years cumulative	90.4%	108.8%
Total return, 5 years cumulative	82.7%	100.5%
Volatility, annualised on 3 years of weekly returns	14.2%	19.5%
Worst fall in 3 years, peak to trough, weekly closes	-16.7%	-21.3%
Beta against the S&P 500	0.99	1.29
Positions held	504	101
Weight in the ten largest positions	36.4%	46.9%
Weight in the single largest position	7.5%	8.1%
Assets (Vanguard: whole fund, all share classes)	n/a	$498.9B

Prices through 2026-10-16. The positions and the weights of the largest positions are from VOO's SEC Form N-PORT for the period ended 2026-06-30 and QQQ's issuer file of 2026-10-15.

Year by year

Year	VOO	QQQ
2026	14.1%	18.9%
2025	17.8%	20.8%
2024	25.0%	25.6%
2023	26.3%	54.9%
2022	-18.2%	-32.6%

Do they move together

Window	Correlation of weekly returns
1 year	0.92
3 years	0.95
5 years	0.94

Where to go next

VOO, the full page: every holding, and what else it duplicates
QQQ, the full page
QQQ vs QQQM
DGRO vs SCHD
QQQ vs SPY
Run the x-ray on your whole portfolio, this pair included
Check any other pair in the overlap calculator

How these numbers are produced · Ask the same questions from your assistant

Cite this page

TickerInside, VOO vs QQQ, holdings from VOO's SEC Form N-PORT for the period ended 2026-06-30, filed 2026-08-28, and QQQ's issuer file of 2026-10-15, https://tickerinside.com/compare/voo-vs-qqq/, CC BY 4.0

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