QQQ vs USMV: Holdings Overlap
QQQInvesco QQQ Trust, Series 1
Invesco · 101 holdings · $479.2B · as of 2026-03-31
USMViShares MSCI USA Min Vol Factor ETF
iShares · 170 holdings · $24.1B · as of 2026-04-30
Holdings snapshots are 30 days apart (QQQ: 2026-03-31, USMV: 2026-04-30). 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 USMV?
Invesco QQQ Trust, Series 1 (QQQ, by Invesco) holds 101 positions; iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170. They have 51 holdings in common, and by portfolio weight the two funds are 23.5% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 23.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 51QQQ holds 101 · USMV holds 170
- Weight in Shared Holdings
- QQQ 73%·USMV 29%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
50 of 101 positions (26.6% of the fund) are not held by USMV. Showing the top 30 by weight.
Only in USMV
119 of 170 positions (71.2% of the fund) are not held by QQQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | QQQ | USMV |
|---|---|---|
| Information Technology | 49.7% | 29.2% |
| Communication Services | 16.0% | 5.9% |
| Financials | 0.2% | 13.7% |
| Health Care | 5.1% | 12.7% |
| Consumer Discretionary | 12.6% | 5.9% |
| Other Sectors | 16.3% | 32.3% |
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 |
|---|---|---|---|---|---|---|---|
| QQQ | +1.9% | +18.0% | +27.6% | +25.2% | +15.2% | +20.8% | 0.42% |
| USMV | +2.3% | +7.6% | +10.3% | +12.2% | +7.4% | +9.9% | 1.44% |
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 USMV →
Shared Holdings(51)
The top 10 shared positions account for 47% of the overlap, led by CSCO, NVDA and MSFT.
 CSCOCisco Systems, Inc. COM | 1.73% | 1.80% | 1.73% |
|---|---|---|---|
 NVDANVIDIA Corp. COM | 8.68% | 1.63% | 1.63% |
 MSFTMicrosoft Corp. COM | 5.63% | 1.56% | 1.56% |
 TMUST-Mobile US Inc COM | 1.31% | 1.16% | 1.16% |
 PEPPepsico Inc COM | 1.20% | 1.01% | 1.01% |
 WMTWalmart Inc COM | 3.43% | 0.87% | 0.87% |
 GILDGilead Sciences Inc. COM | 0.98% | 0.82% | 0.82% |
 AAPLApple Inc. COM | 7.63% | 0.82% | 0.82% |
 TXNTexas Instruments Inc. COM | 1.00% | 0.77% | 0.77% |
 LINLinde PLC COM EUR0.001 | 1.30% | 0.69% | 0.69% |
 INTUIntuit Inc COM | 0.68% | 0.70% | 0.68% |
 VRTXVertex Pharmaceuticals Incorporated COM | 0.64% | 1.36% | 0.64% |
 ADBEAdobe Inc COM | 0.56% | 0.57% | 0.56% |
 PANWPalo Alto Networks Inc COM | 0.74% | 0.53% | 0.53% |
 AMDAdvanced Micro Devices Inc. COM | 1.88% | 0.53% | 0.53% |
 AVGOBroadcom Inc COM | 3.01% | 0.50% | 0.50% |
 PLTRPalantir Technologies, Inc., Class A | 1.90% | 0.49% | 0.49% |
 GOOGAlphabet Inc. CAP STK CL C | 3.20% | 0.45% | 0.45% |
 ORLYO'Reilly Automotive Inc. COM | 0.44% | 0.83% | 0.44% |
 ADIAnalog Devices Inc. COM | 0.88% | 0.43% | 0.43% |
 MUMicron Technology Inc. COM | 2.15% | 0.42% | 0.42% |
 MDLZMondelez International, Inc., Class A | 0.42% | 0.74% | 0.42% |
 SNPSSynopsys Inc COM | 0.43% | 0.40% | 0.40% |
 MNSTMonster Beverage Corp COM | 0.40% | 0.72% | 0.40% |
 AEPAmerican Electric Power Co, Inc. COM | 0.40% | 0.55% | 0.40% |
Frequently Asked Questions
How much do QQQ and USMV overlap?
QQQ and USMV overlap by 23.5% of portfolio weight. They share 51 holdings (QQQ holds 101 positions and USMV holds 170), based on each fund's latest SEC-reported holdings.
Is it redundant to own both QQQ and USMV?
The two portfolios are 23.5% 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 USMV?
The largest positions held by both funds are CSCO, NVDA, MSFT, TMUS and PEP. Together the top 10 shared positions account for 47% of the total overlap.
What does QQQ own that USMV doesn't?
50 positions (26.6% of QQQ) are unique to QQQ, led by TSLA, GOOGL and LRCX. In the other direction, 119 positions (71.2% of USMV) are unique to USMV.