PBUS vs QQQ: Holdings Overlap
Invesco · 537 holdings · $11.4B · 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 (PBUS: 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 PBUS and QQQ?
Invesco MSCI USA ETF (PBUS, by Invesco) holds 537 positions; Invesco QQQ Trust, Series 1 (QQQ, by Invesco) holds 101. They have 94 holdings in common, and by portfolio weight the two funds are 54.7% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 54.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 94PBUS holds 537 · QQQ holds 101
- Weight in Shared Holdings
- PBUS 55%·QQQ 97%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 PBUS
443 of 537 positions (45.0% of the fund) are not held by QQQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | PBUS | QQQ |
|---|---|---|
| Information Technology | 38.0% | 49.7% |
| Communication Services | 10.7% | 16.0% |
| Consumer Discretionary | 9.7% | 12.6% |
| Financials | 11.1% | 0.2% |
| Consumer Staples | 4.4% | 8.5% |
| Other Sectors | 25.7% | 12.8% |
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 |
|---|---|---|---|---|---|---|---|
| PBUS | +3.4% | +14.0% | +23.4% | +21.4% | +12.9% | — | 0.99% |
| 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 PBUS vs QQQ →
Shared Holdings(94)
The top 10 shared positions account for 70% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. | 7.77% | 8.68% | 7.77% |
|---|---|---|---|
 AAPLApple Inc. | 6.94% | 7.63% | 6.94% |
 MSFTMicrosoft Corp. | 4.81% | 5.63% | 4.81% |
 AMZNAmazon.com, Inc. | 3.94% | 4.58% | 3.94% |
 GOOGLAlphabet Inc., Class A | 3.35% | 3.43% | 3.35% |
 AVGOBroadcom Inc. | 3.05% | 3.01% | 3.01% |
 GOOGAlphabet Inc., Class C | 2.77% | 3.20% | 2.77% |
 METAMeta Platforms, Inc., Class A | 2.09% | 3.46% | 2.09% |
 TSLATesla, Inc. | 1.86% | 3.80% | 1.86% |
 MUMicron Technology, Inc. | 1.65% | 2.15% | 1.65% |
 AMDAdvanced Micro Devices, Inc. | 1.27% | 1.88% | 1.27% |
 INTCIntel Corp. | 0.78% | 1.25% | 0.78% |
 WMTWalmart Inc. | 0.77% | 3.43% | 0.77% |
 CSCOCisco Systems, Inc. | 0.72% | 1.73% | 0.72% |
 COSTCostco Wholesale Corp. | 0.64% | 2.50% | 0.64% |
 LRCXLam Research Corp. | 0.60% | 1.51% | 0.60% |
 NFLXNetflix, Inc. | 0.55% | 2.30% | 0.55% |
 PLTRPalantir Technologies Inc., Class A | 0.54% | 1.90% | 0.54% |
 AMATApplied Materials, Inc. | 0.54% | 1.53% | 0.54% |
 TXNTexas Instruments Inc. | 0.42% | 1.00% | 0.42% |
 QCOMQUALCOMM Inc. | 0.40% | 0.78% | 0.40% |
 KLACKLA Corp. | 0.38% | 1.09% | 0.38% |
 LINLinde PLC | 0.35% | 1.30% | 0.35% |
 PANWPalo Alto Networks, Inc. | 0.34% | 0.74% | 0.34% |
 ADIAnalog Devices, Inc. | 0.31% | 0.88% | 0.31% |
Frequently Asked Questions
How much do PBUS and QQQ overlap?
PBUS and QQQ overlap by 54.7% of portfolio weight. They share 94 holdings (PBUS holds 537 positions and QQQ holds 101), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PBUS and QQQ?
The two portfolios are 54.7% 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 PBUS and QQQ?
The largest positions held by both funds are NVDA, AAPL, MSFT, AMZN and GOOGL. Together the top 10 shared positions account for 70% of the total overlap.
What does PBUS own that QQQ doesn't?
443 positions (45.0% of PBUS) are unique to PBUS, led by LLY, JPM and BRK-B. In the other direction, 7 positions (2.7% of QQQ) are unique to QQQ.