# VOO vs QQQ 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. Canonical page: https://tickerinside.com/compare/voo-vs-qqq/ Prices through 2026-10-16. 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. Licence: CC BY 4.0, attribution to TickerInside. ## 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. ## Key figures | Measure | Value | | --- | --- | | Holdings overlap by weight | 54.0% | | Companies held by both | 86 | | Share of VOO held in common | 54.5% | | Share of QQQ held in common | 93.0% | | Correlation of weekly returns, 3 years | 0.95 | | Cost per year | VOO 0.03%, QQQ 0.18% | | Return, 3 years | VOO 90.4%, QQQ 108.8% | | Worst fall, 3 years | VOO -16.7%, QQQ -21.3% | | Volatility, annualised | VOO 14.2%, QQQ 19.5% | | Positions | VOO 504, QQQ 101 | ## Analysis ### 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. ## Largest positions held by both | Ticker | Company | In VOO | In QQQ | Counted as overlap | | --- | --- | --- | --- | --- | | NVDA | Nvidia | 7.51% | 8.06% | 7.51% | | AAPL | Apple | 6.59% | 7.69% | 6.59% | | MSFT | Microsoft | 4.3% | 6.17% | 4.3% | | AMZN | Amazon | 3.62% | 4.23% | 3.62% | | GOOGL | Alphabet Class A | 3.25% | 3.16% | 3.16% | | GOOG | Alphabet Class C | 2.59% | 2.94% | 2.59% | | AVGO | Broadcom | 2.77% | 2.52% | 2.52% | | MU | Micron Technology | 2.02% | 4.47% | 2.02% | | META | Meta Platforms | 1.92% | 3.37% | 1.92% | | TSLA | Tesla | 1.84% | 2.93% | 1.84% | | AMD | Advanced Micro Devices | 1.47% | 3.9% | 1.47% | | INTC | Intel | 1.02% | 2.13% | 1.02% | | AMAT | Applied Materials | 0.89% | 1.45% | 0.89% | | LRCX | Lam Research | 0.84% | 1.48% | 0.84% | | WMT | Walmart | 0.77% | 2.44% | 0.77% | ## 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. | | VOO | QQQ | | --- | --- | --- | | VOO | 202 | 260.7 | | QQQ | 260.7 | 380 | Correlation over 1, 3 and 5 years: 0.92, 0.95, 0.94. ## 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/voo-vs-qqq.json ## 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 TickerInside (https://tickerinside.com/compare/voo-vs-qqq/)