QQQM vs SMH: Holdings Overlap
Invesco · 101 holdings · $97.1B · as of 2026-05-31
VanEck · 25 holdings · $71.5B · as of 2026-03-31
Holdings snapshots are 61 days apart (QQQM: 2026-05-31, SMH: 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 QQQM and SMH?
Invesco NASDAQ 100 ETF (QQQM, 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 33.0% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 33.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 19QQQM holds 101 · SMH holds 25
- Weight in Shared Holdings
- QQQM 34%·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 QQQM
82 of 101 positions (66.1% of the fund) are not held by SMH. Showing the top 30 by weight.
Sector Breakdown
| Sector | QQQM | SMH |
|---|---|---|
| Information Technology | 57.8% | 99.9% |
| Communication Services | 14.2% | 0.0% |
| Consumer Discretionary | 11.4% | 0.0% |
| Consumer Staples | 6.4% | 0.0% |
| Health Care | 3.7% | 0.0% |
| Other Sectors | 6.0% | 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 |
|---|---|---|---|---|---|---|---|
| QQQM | +1.9% | +18.0% | +27.7% | +25.3% | +15.2% | — | 0.44% |
| 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 QQQM vs SMH →
Shared Holdings(19)
The top 10 shared positions account for 87% of the overlap, led by NVDA, MU and AMD.
 NVDANVIDIA Corp. | 8.13% | 19.64% | 8.13% |
|---|---|---|---|
 MUMicron Technology, Inc. | 4.78% | 4.23% | 4.23% |
 AMDAdvanced Micro Devices, Inc. | 3.68% | 4.68% | 3.68% |
 AVGOBroadcom Inc. | 3.36% | 7.79% | 3.36% |
 INTCIntel Corp. | 2.51% | 4.34% | 2.51% |
 LRCXLam Research Corp. | 1.74% | 4.60% | 1.74% |
 AMATApplied Materials, Inc. | 1.56% | 4.59% | 1.56% |
 TXNTexas Instruments Inc. | 1.21% | 4.61% | 1.21% |
 QCOMQUALCOMM Inc. | 1.17% | 4.09% | 1.17% |
 KLACKLA Corp. | 1.10% | 4.74% | 1.10% |
 ADIAnalog Devices, Inc. | 0.88% | 4.70% | 0.88% |
 MRVLMarvell Technology, Inc. | 0.78% | 2.35% | 0.78% |
 ASMLASML Holding N.V., New York Shares | 0.62% | 4.99% | 0.62% |
 CDNSCadence Design Systems, Inc. | 0.45% | 2.43% | 0.45% |
 SNPSSynopsys, Inc. | 0.40% | 2.50% | 0.40% |
 NXPINXP Semiconductors N.V. | 0.36% | 1.24% | 0.36% |
 MPWRMonolithic Power Systems, Inc. | 0.34% | 1.23% | 0.34% |
 MCHPMicrochip Technology Inc. | 0.22% | 1.00% | 0.22% |
 ARMARM Holdings PLC, ADR | 0.22% | 0.76% | 0.22% |
Frequently Asked Questions
How much do QQQM and SMH overlap?
QQQM and SMH overlap by 33.0% of portfolio weight. They share 19 holdings (QQQM holds 101 positions and SMH holds 25), based on each fund's latest SEC-reported holdings.
Is it redundant to own both QQQM and SMH?
The two portfolios are 33.0% 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 QQQM and SMH?
The largest positions held by both funds are NVDA, MU, AMD, AVGO and INTC. Together the top 10 shared positions account for 87% of the total overlap.
What does QQQM own that SMH doesn't?
82 positions (66.1% of QQQM) are unique to QQQM, led by AAPL, MSFT and AMZN. In the other direction, 6 positions (15.4% of SMH) are unique to SMH.