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