QUAL vs SPHQ: Holdings Overlap
QUALiShares MSCI USA Quality Factor ETF
iShares · 121 holdings · $47.8B · as of 2026-04-30
SPHQInvesco S&P 500 Quality ETF
Invesco · 99 holdings · $20.0B · as of 2026-04-30
How similar are QUAL and SPHQ?
iShares MSCI USA Quality Factor ETF (QUAL, by iShares) holds 121 positions; Invesco S&P 500 Quality ETF (SPHQ, by Invesco) holds 99. They have 50 holdings in common, and by portfolio weight the two funds are 40.0% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 40.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 50QUAL holds 121 · SPHQ holds 99
- Weight in Shared Holdings
- QUAL 45%·SPHQ 66%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 QUAL
71 of 121 positions (55.2% of the fund) are not held by SPHQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | QUAL | SPHQ |
|---|---|---|
| Information Technology | 34.4% | 27.6% |
| Industrials | 9.4% | 24.5% |
| Consumer Staples | 4.9% | 15.3% |
| Financials | 11.6% | 13.4% |
| Communication Services | 11.0% | 2.0% |
| Other Sectors | 28.5% | 17.0% |
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 |
|---|---|---|---|---|---|---|---|
| QUAL | +3.6% | +14.1% | +23.7% | +19.0% | +11.5% | +14.4% | 0.84% |
| SPHQ | -0.8% | +15.3% | +21.9% | +19.9% | +12.7% | +14.6% | 1.09% |
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 QUAL vs SPHQ →
Shared Holdings(50)
The top 10 shared positions account for 63% of the overlap, led by AAPL, LRCX and V.
 AAPLApple Inc. COM | 6.27% | 4.50% | 4.50% |
|---|---|---|---|
 LRCXLam Research Corporation COM NEW | 3.22% | 4.09% | 3.22% |
 VVisa, Inc., Class A | 3.08% | 4.68% | 3.08% |
 KLACKLA Corp. COM NEW | 2.78% | 3.27% | 2.78% |
 CATCaterpillar Inc COM | 2.52% | 3.78% | 2.52% |
 AMATApplied Materials Inc. COM | 2.45% | 2.79% | 2.45% |
 MAMasterCard Incorporated CL A | 2.30% | 4.32% | 2.30% |
 TJXThe TJX Companies Inc. COM | 3.19% | 1.79% | 1.79% |
 QCOMQUALCOMM Inc. COM | 1.41% | 2.03% | 1.41% |
 COSTCostco Wholesale Corporation COM | 1.31% | 4.81% | 1.31% |
 ADBEAdobe Inc COM | 1.19% | 1.44% | 1.19% |
 MRKMerck & Co., Inc COM | 1.08% | 2.86% | 1.08% |
 PGThe Procter & Gamble Co. COM | 0.93% | 3.46% | 0.93% |
 TTTrane Technologies PLC COM USD1 | 0.83% | 1.29% | 0.83% |
 ACNAccenture PLC CLS'A'USD0.0000225 | 0.83% | 1.04% | 0.83% |
 ITWIllinois Tool Works Inc. COM | 0.77% | 0.94% | 0.77% |
 FTNTFortinet Inc COM | 0.76% | 0.85% | 0.76% |
 KOCoca-Cola Co (The) COM | 0.75% | 3.33% | 0.75% |
 APPAppLovin Corp., Class A | 0.67% | 1.56% | 0.67% |
 CTASCintas Corporation COM | 0.53% | 0.62% | 0.53% |
 GWWW.w. Grainger Inc. COM | 0.49% | 0.55% | 0.49% |
 MSIMotorola Solutions Inc COM NEW | 0.48% | 0.74% | 0.48% |
 FASTFastenal Co. COM | 0.44% | 0.53% | 0.44% |
 NEMNewmont Corporation COM | 0.42% | 1.22% | 0.42% |
 PGRThe Progressive Corporation COM | 0.40% | 1.40% | 0.40% |
Frequently Asked Questions
How much do QUAL and SPHQ overlap?
QUAL and SPHQ overlap by 40.0% of portfolio weight. They share 50 holdings (QUAL holds 121 positions and SPHQ holds 99), based on each fund's latest SEC-reported holdings.
Is it redundant to own both QUAL and SPHQ?
The two portfolios are 40.0% 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 QUAL and SPHQ?
The largest positions held by both funds are AAPL, LRCX, V, KLAC and CAT. Together the top 10 shared positions account for 63% of the total overlap.
What does QUAL own that SPHQ doesn't?
71 positions (55.2% of QUAL) are unique to QUAL, led by NVDA, MSFT and META. In the other direction, 49 positions (33.8% of SPHQ) are unique to SPHQ.