QQQ vs RWL: Holdings Overlap
QQQInvesco QQQ Trust, Series 1
Invesco · 101 holdings · $479.2B · as of 2026-03-31
RWLInvesco S&P 500 Revenue ETF
Invesco · 502 holdings · $9.8B · as of 2026-05-31
Holdings snapshots are 61 days apart (QQQ: 2026-03-31, RWL: 2026-05-31). 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 QQQ and RWL?
Invesco QQQ Trust, Series 1 (QQQ, by Invesco) holds 101 positions; Invesco S&P 500 Revenue ETF (RWL, by Invesco) holds 502. They have 87 holdings in common, and by portfolio weight the two funds are 28.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 28.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 87QQQ holds 101 · RWL holds 502
- Weight in Shared Holdings
- QQQ 95%·RWL 28%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 QQQ
14 of 101 positions (4.6% of the fund) are not held by RWL.
Sector Breakdown
| Sector | QQQ | RWL |
|---|---|---|
| Information Technology | 49.7% | 15.4% |
| Health Care | 5.1% | 19.3% |
| Communication Services | 16.0% | 7.2% |
| Financials | 0.2% | 15.1% |
| Consumer Discretionary | 12.6% | 12.1% |
| Other Sectors | 16.3% | 30.7% |
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 |
|---|---|---|---|---|---|---|---|
| QQQ | +1.9% | +18.0% | +27.6% | +25.2% | +15.2% | +20.8% | 0.42% |
| RWL | +3.1% | +17.9% | +31.3% | +19.4% | +14.1% | +14.1% | 1.20% |
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 QQQ vs RWL →
Shared Holdings(87)
The top 10 shared positions account for 65% of the overlap, led by AMZN, WMT and AAPL.
 AMZNAmazon.com, Inc. | 4.58% | 4.47% | 4.47% |
|---|---|---|---|
 WMTWalmart Inc. | 3.43% | 3.27% | 3.27% |
 AAPLApple Inc. | 7.63% | 2.55% | 2.55% |
 MSFTMicrosoft Corp. | 5.63% | 1.66% | 1.66% |
 COSTCostco Wholesale Corp. | 2.50% | 1.35% | 1.35% |
 GOOGLAlphabet Inc., Class A | 3.43% | 1.22% | 1.22% |
 GOOGAlphabet Inc., Class C | 3.20% | 1.20% | 1.20% |
 NVDANVIDIA Corp. | 8.68% | 1.20% | 1.20% |
 METAMeta Platforms, Inc., Class A | 3.46% | 0.95% | 0.95% |
 INTCIntel Corp. | 1.25% | 0.62% | 0.62% |
 TSLATesla, Inc. | 3.80% | 0.50% | 0.50% |
 CMCSAComcast Corp., Class A | 0.58% | 0.49% | 0.49% |
 MUMicron Technology, Inc. | 2.15% | 0.48% | 0.48% |
 CSCOCisco Systems, Inc. | 1.73% | 0.45% | 0.45% |
 AVGOBroadcom Inc. | 3.01% | 0.44% | 0.44% |
 AMDAdvanced Micro Devices, Inc. | 1.88% | 0.43% | 0.43% |
 PEPPepsiCo, Inc. | 1.20% | 0.41% | 0.41% |
 QCOMQUALCOMM Inc. | 0.78% | 0.41% | 0.41% |
 TMUST-Mobile US, Inc. | 1.31% | 0.38% | 0.38% |
 MDLZMondelez International, Inc., Class A | 0.42% | 0.21% | 0.21% |
 NFLXNetflix, Inc. | 2.30% | 0.20% | 0.20% |
 HONHoneywell International Inc. | 0.81% | 0.20% | 0.20% |
 SBUXStarbucks Corp. | 0.58% | 0.18% | 0.18% |
 WBDWarner Bros. Discovery, Inc. | 0.39% | 0.18% | 0.18% |
 AMATApplied Materials, Inc. | 1.53% | 0.18% | 0.18% |
Frequently Asked Questions
How much do QQQ and RWL overlap?
QQQ and RWL overlap by 28.3% of portfolio weight. They share 87 holdings (QQQ holds 101 positions and RWL holds 502), based on each fund's latest SEC-reported holdings.
Is it redundant to own both QQQ and RWL?
The two portfolios are 28.3% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of QQQ and RWL?
The largest positions held by both funds are AMZN, WMT, AAPL, MSFT and COST. Together the top 10 shared positions account for 65% of the total overlap.
What does QQQ own that RWL doesn't?
14 positions (4.6% of QQQ) are unique to QQQ, led by SHOP, ASML and MELI. In the other direction, 415 positions (71.4% of RWL) are unique to RWL.