ETF comparison · US core
VOO vs QQQ: overlap by weight, TER & holdings
Vanguard S&P 500 ETF vs Invesco QQQ Trust
QQQ is a concentrated bet on 100 Nasdaq companies; VOO spreads across the full S&P 500. They share their biggest names, so adding one to the other adds less diversification than it appears.
VOO vs QQQ at a glance
| VOO | QQQ | |
|---|---|---|
| Fund | Vanguard S&P 500 ETF | Invesco QQQ Trust |
| ISIN | US9229083632 | US46090E1038 |
| Index | S&P 500 | Nasdaq-100 |
| Market exposure | US large cap | US tech-heavy |
| TER | 0.03% | 0.18% |
| Holdings in fund | 503 | 103 |
| Fund size | ≈ 1.7 tn USD | ≈ 453 bn USD |
| Domicile | the United States | the United States |
| Replication | Physical (full) | Physical (full, unit trust) |
| Use of income | Distributing | Distributing |
| Launched | Sep 7, 2010 | Mar 10, 1999 |
Top shared holdings
| VOO | QQQ | |
|---|---|---|
| NVDANVDA | 8.09% | 8.52% |
| AAPLAAPL | 7.04% | 7.81% |
| MSFTMSFT | 5.69% | 5.81% |
| AMZNAMZN | 3.84% | 4.32% |
| GOOGLGOOGL | 3.01% | 3.22% |
| AVGOAVGO | 2.65% | 2.68% |
| GOOGGOOG | 2.39% | 2.97% |
| METAMETA | 1.9% | 3.12% |
| MUMU | 1.63% | 5.01% |
| TSLATSLA | 1.56% | 2.88% |
| AMDAMD | 1.16% | 3.99% |
| WMTWMT | 0.69% | 2.27% |
| INTCINTC | 0.67% | 2.38% |
| CSCOCSCO | 0.66% | 1.89% |
| PLTRPLTR | 0.65% | 1.78% |
Weights per fund, normalized. 86 companies appear in both funds.
What the fee gap costs
Growth of 10,000 invested at 7% annual return, after each fund’s TER: 0.03% for VOO, 0.18% for QQQ.
| VOO | QQQ | Difference | |
|---|---|---|---|
| After 10 years | 19,616 | 19,343 | 273 |
| After 20 years | 38,480 | 37,415 | 1,065 |
| After 30 years | 75,485 | 72,373 | 3,112 |
VOO comes out ahead by about 3,112 per 10,000 invested over 30 years. TER only. Trading spreads, taxes and broker fees are not included.
Domicile and withholding tax
Both funds are domiciled in the United States, so fund-level dividend withholding works the same way for both. Domicile does not separate this pair.
Frequently asked questions
Do VOO and QQQ overlap?+
Yes: 54.05% by weight, with 86 holdings appearing in both funds. 54.05% of VOO’s weight is also inside QQQ.
Do VOO and QQQ track the same index?+
No. VOO tracks the S&P 500 while QQQ tracks the Nasdaq-100. The 54.05% overlap comes from companies that both indices include.
Which is cheaper, VOO or QQQ?+
VOO: 0.03% per year against 0.18% for QQQ. At 7% growth that gap is worth about 3,112 per 10,000 invested over 30 years.
Is it worth holding both VOO and QQQ?+
They overlap less than similar-looking funds (54.05% by weight), so holding both can make sense when you want each fund’s distinct exposure. Check the shared-holdings table for what you would be doubling up on.
Why does QQQ hold the same companies at higher weights?+
Same companies, smaller universe: QQQ spreads its weight across 103 holdings while VOO holds 503, so each shared position takes a larger slice of QQQ.
More comparisons
Methodology
Overlap is the sum of min(weight A, weight B) across holdings that appear in both funds, with each fund’s stored weights normalized to 100%. Holdings come from issuer feeds and regulatory filings in our ETF holdings database; TER and fund size come from fund profile data and are refreshed regularly. Figures update when the underlying holdings data updates.
Holdings data as of Sep 21, 2026, from our ETF holdings database.