FNDX vs QQQ: Holdings Overlap
FNDXSchwab Fundamental U.S. Large Company ETF
Schwab · 733 holdings · $27.4B · as of 2026-05-31
QQQInvesco QQQ Trust, Series 1
Invesco · 101 holdings · $479.2B · as of 2026-03-31
Holdings snapshots are 61 days apart (FNDX: 2026-05-31, QQQ: 2026-03-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FNDX and QQQ?
Schwab Fundamental U.S. Large Company ETF (FNDX, by Schwab) holds 733 positions; Invesco QQQ Trust, Series 1 (QQQ, by Invesco) holds 101. They have 79 holdings in common, and by portfolio weight the two funds are 31.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 31.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 79FNDX holds 733 · QQQ holds 101
- Weight in Shared Holdings
- FNDX 33%·QQQ 91%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FNDX
654 of 733 positions (67.2% of the fund) are not held by QQQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDX | QQQ |
|---|---|---|
| Information Technology | 21.4% | 49.7% |
| Communication Services | 9.9% | 16.0% |
| Financials | 13.8% | 0.2% |
| Consumer Discretionary | 8.7% | 12.6% |
| Health Care | 11.8% | 5.1% |
| Other Sectors | 34.1% | 16.3% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FNDX | +3.1% | +19.7% | +33.0% | +20.0% | +14.0% | +14.3% | 1.43% |
| QQQ | +1.9% | +18.0% | +27.6% | +25.2% | +15.2% | +20.8% | 0.42% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FNDX vs QQQ →
Shared Holdings(79)
The top 10 shared positions account for 61% of the overlap, led by AAPL, GOOGL and MSFT.
 AAPLApple Inc. | 4.63% | 7.63% | 4.63% |
|---|---|---|---|
 GOOGLAlphabet Inc., Class A | 2.38% | 3.43% | 2.38% |
 MSFTMicrosoft Corp. | 2.32% | 5.63% | 2.32% |
 GOOGAlphabet Inc., Class C | 1.89% | 3.20% | 1.89% |
 AMZNAmazon.com, Inc. | 1.85% | 4.58% | 1.85% |
 MUMicron Technology, Inc. | 1.59% | 2.15% | 1.59% |
 INTCIntel Corp. | 2.57% | 1.25% | 1.25% |
 METAMeta Platforms, Inc., Class A | 1.24% | 3.46% | 1.24% |
 WMTWalmart Inc. | 1.01% | 3.43% | 1.01% |
 CSCOCisco Systems, Inc. | 0.90% | 1.73% | 0.90% |
 AVGOBroadcom Inc. | 0.65% | 3.01% | 0.65% |
 CMCSAComcast Corp., Class A | 0.57% | 0.58% | 0.57% |
 NVDANVIDIA Corp. | 0.55% | 8.68% | 0.55% |
 COSTCostco Wholesale Corp. | 0.53% | 2.50% | 0.53% |
 QCOMQUALCOMM Inc. | 0.53% | 0.78% | 0.53% |
 AMATApplied Materials, Inc. | 0.47% | 1.53% | 0.47% |
 TXNTexas Instruments Inc. | 0.43% | 1.00% | 0.43% |
 PEPPepsiCo, Inc. | 0.41% | 1.20% | 0.41% |
 LRCXLam Research Corp. | 0.41% | 1.51% | 0.41% |
 AMDAdvanced Micro Devices, Inc. | 0.39% | 1.88% | 0.39% |
 AMGNAmgen Inc. | 0.35% | 1.07% | 0.35% |
 TSLATesla, Inc. | 0.34% | 3.80% | 0.34% |
 WBDWarner Bros. Discovery, Inc. | 0.32% | 0.39% | 0.32% |
 GILDGilead Sciences, Inc. | 0.32% | 0.98% | 0.32% |
 LINLinde PLC | 0.29% | 1.30% | 0.29% |
Frequently Asked Questions
How much do FNDX and QQQ overlap?
FNDX and QQQ overlap by 31.3% of portfolio weight. They share 79 holdings (FNDX holds 733 positions and QQQ holds 101), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDX and QQQ?
The two portfolios are 31.3% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of FNDX and QQQ?
The largest positions held by both funds are AAPL, GOOGL, MSFT, GOOG and AMZN. Together the top 10 shared positions account for 61% of the total overlap.
What does FNDX own that QQQ doesn't?
654 positions (67.2% of FNDX) are unique to FNDX, led by XOM, CVX and BRK-B. In the other direction, 22 positions (8.5% of QQQ) are unique to QQQ.