QQQ vs SMH: Holdings Overlap
QQQInvesco QQQ Trust, Series 1
Invesco · 101 holdings · $479.2B · as of 2026-03-31
VanEck · 25 holdings · $71.5B · as of 2026-03-31
How similar are QQQ and SMH?
Invesco QQQ Trust, Series 1 (QQQ, by Invesco) holds 101 positions; VanEck Semiconductor ETF (SMH, by VanEck) holds 25. They have 19 holdings in common, and by portfolio weight the two funds are 26.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 26.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 19QQQ holds 101 · SMH holds 25
- Weight in Shared Holdings
- QQQ 27%·SMH 85%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
82 of 101 positions (73.2% of the fund) are not held by SMH. Showing the top 30 by weight.
Sector Breakdown
| Sector | QQQ | SMH |
|---|---|---|
| Information Technology | 49.7% | 99.9% |
| Communication Services | 16.0% | 0.0% |
| Consumer Discretionary | 12.6% | 0.0% |
| Consumer Staples | 8.5% | 0.0% |
| Health Care | 5.1% | 0.0% |
| Other Sectors | 8.0% | 0.0% |
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% |
| SMH | +0.2% | +61.8% | +100.8% | +55.9% | +34.9% | +34.9% | 0.19% |
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 SMH →
Shared Holdings(19)
The top 10 shared positions account for 86% of the overlap, led by NVDA, AVGO and MU.
 NVDANVIDIA Corp. | 8.68% | 19.64% | 8.68% |
|---|---|---|---|
 AVGOBroadcom Inc. | 3.01% | 7.79% | 3.01% |
 MUMicron Technology, Inc. | 2.15% | 4.23% | 2.15% |
 AMDAdvanced Micro Devices, Inc. | 1.88% | 4.68% | 1.88% |
 AMATApplied Materials, Inc. | 1.53% | 4.59% | 1.53% |
 LRCXLam Research Corp. | 1.51% | 4.60% | 1.51% |
 INTCIntel Corp. | 1.25% | 4.34% | 1.25% |
 KLACKLA Corp. | 1.09% | 4.74% | 1.09% |
 TXNTexas Instruments Inc. | 1.00% | 4.61% | 1.00% |
 ADIAnalog Devices, Inc. | 0.88% | 4.70% | 0.88% |
 QCOMQUALCOMM Inc. | 0.78% | 4.09% | 0.78% |
 ASMLASML Holding N.V., New York Shares | 0.66% | 4.99% | 0.66% |
 MRVLMarvell Technology, Inc. | 0.49% | 2.35% | 0.49% |
 CDNSCadence Design Systems, Inc. | 0.43% | 2.43% | 0.43% |
 SNPSSynopsys, Inc. | 0.43% | 2.50% | 0.43% |
 MPWRMonolithic Power Systems, Inc. | 0.30% | 1.23% | 0.30% |
 NXPINXP Semiconductors N.V. | 0.28% | 1.24% | 0.28% |
 MCHPMicrochip Technology Inc. | 0.20% | 1.00% | 0.20% |
 ARMARM Holdings PLC, ADR | 0.12% | 0.76% | 0.12% |
Frequently Asked Questions
How much do QQQ and SMH overlap?
QQQ and SMH overlap by 26.7% of portfolio weight. They share 19 holdings (QQQ holds 101 positions and SMH holds 25), based on each fund's latest SEC-reported holdings.
Is it redundant to own both QQQ and SMH?
The two portfolios are 26.7% 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 SMH?
The largest positions held by both funds are NVDA, AVGO, MU, AMD and AMAT. Together the top 10 shared positions account for 86% of the total overlap.
What does QQQ own that SMH doesn't?
82 positions (73.2% of QQQ) are unique to QQQ, led by AAPL, MSFT and AMZN. In the other direction, 6 positions (15.4% of SMH) are unique to SMH.