State Street SPDR S&P 500 ETF Trust vs Invesco QQQ Trust — shared top holdings, sector duplication, and what makes each fund different.
Data as of June 12, 2026
How much of the two funds' sector allocations coincide — computed on full sector data, so this is the headline number.
Weight the funds' disclosed top holdings have in common. Public data discloses only each fund's largest positions (39.2% of SPY, 47.4% of QQQ), so full-portfolio overlap is at least this much.
9 positions appear in both funds' disclosed top-holdings lists.
73.3% sector overlap is high. The funds share most of their market exposure; the second fund adds a tilt rather than real diversification. Make sure the tilt (dividends, tech, size) is one you actually want twice.
| Ticker | Company | Weight in SPY | Weight in QQQ | Overlap |
|---|---|---|---|---|
| NVDA | NVIDIA Corp | 7.9% | 8.2% | 7.9% |
| AAPL | Apple Inc | 7% | 7.3% | 7% |
| MSFT | Microsoft Corp | 5.1% | 5.3% | 5.1% |
| AMZN | Amazon.com Inc | 4.1% | 4.6% | 4.1% |
| GOOGL | Alphabet Inc Class A | 3.4% | 3.5% | 3.4% |
| AVGO | Broadcom Inc | 3.3% | 3.4% | 3.3% |
| GOOG | Alphabet Inc Class C | 2.7% | 3.3% | 2.7% |
| TSLA | Tesla Inc | 1.9% | 3.5% | 1.9% |
| MU | Micron Technology Inc | 1.7% | 4.8% | 1.7% |
| Sector | SPY | QQQ | Overlap |
|---|---|---|---|
| Technology | 39% | 58.7% | 39% |
| Communication Services | 10.6% | 14.3% | 10.6% |
| Consumer Discretionary | 9.9% | 11.4% | 9.9% |
| Financial Services | 11.1% | 0.2% | 0.2% |
| Health Care | 8.3% | 3.7% | 3.7% |
| Industrials | 7.8% | 2.6% | 2.6% |
| Consumer Staples | 4.5% | 6.4% | 4.5% |
| Energy | 3.1% | 0.5% | 0.5% |
| Utilities | 2.1% | 1.2% | 1.2% |
| Real Estate | 1.8% | 0% | 0% |
| Materials | 1.7% | 1% | 1% |
Holdings overlap sums min(weight in fund A, weight in fund B) across positions that appear in both funds' disclosed top-holdings lists — public data discloses only each fund's largest positions, so this number is a lower bound on true full-portfolio overlap. Sector overlap applies the same min() logic to the funds' complete sector allocations, which cover ~100% of each fund, making it the more complete signal of duplication.
The largest SPY positions missing from QQQ's disclosed top holdings are META. In the other direction, QQQ's largest positions not in SPY's top list are AMD. Disclosed lists cover 39.2% of SPY and 47.4% of QQQ; the sector table below compares the funds on complete data.
Fund holdings change over time. Open SPY vs QQQ in the interactive ETF overlap calculator for a fresh comparison — or swap in any other tickers.
This tool is for education, not investment advice. Holdings and sector data come from public market-data feeds, reflect each fund's most recently disclosed top positions, and can lag the fund's actual portfolio. Overlap computed from disclosed top holdings is a lower bound. Always verify against the fund provider's official holdings file before making decisions.
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