USMC vs ONEQ: Holdings Overlap
USMCPrincipal U.S. Mega-Cap ETF
Principal · 26 holdings · $3.6B · as of 2026-03-31
ONEQFidelity Nasdaq Composite Index ETF
Fidelity · 1022 holdings · $10.8B · as of 2026-05-31
Holdings snapshots are 61 days apart (USMC: 2026-03-31, ONEQ: 2026-05-31). 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 USMC and ONEQ?
Principal U.S. Mega-Cap ETF (USMC, by Principal) holds 26 positions; Fidelity Nasdaq Composite Index ETF (ONEQ, by Fidelity) holds 1022. They have 12 holdings in common, and by portfolio weight the two funds are 43.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 43.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 12USMC holds 26 · ONEQ holds 1022
- Weight in Shared Holdings
- USMC 54%·ONEQ 57%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 USMC
14 of 26 positions (45.9% of the fund) are not held by ONEQ.
Only in ONEQ
1010 of 1022 positions (42.6% of the fund) are not held by USMC. Showing the top 30 by weight.
Sector Breakdown
| Sector | USMC | ONEQ |
|---|---|---|
| Information Technology | 26.6% | 53.0% |
| Financials | 20.4% | 2.8% |
| Communication Services | 14.1% | 15.2% |
| Consumer Discretionary | 8.2% | 12.5% |
| Consumer Staples | 10.2% | 4.4% |
| Other Sectors | 20.2% | 10.0% |
| Unclassified | 0.0% | 1.6% |
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. “Unclassified” is weight we could not classify (0% of USMC, 2% of ONEQ).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| USMC | +2.9% | +11.9% | +21.9% | +20.8% | +14.5% | — | 0.74% |
| ONEQ | +3.3% | +15.4% | +26.6% | +25.1% | +13.6% | +18.8% | 0.51% |
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 USMC vs ONEQ →
Shared Holdings(12)
The top 10 shared positions account for 96% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. COM | 7.57% | 11.18% | 7.57% |
|---|---|---|---|
 AAPLApple Inc. COM | 6.70% | 9.98% | 6.70% |
 MSFTMicrosoft Corp. COM | 4.91% | 7.29% | 4.91% |
 GOOGLAlphabet Inc. CAP STK CL A | 5.37% | 4.83% | 4.83% |
 AVGOBroadcom Inc COM | 4.50% | 4.61% | 4.50% |
 AMZNAmazon.com, Inc. COM | 3.62% | 6.33% | 3.62% |
 METAMeta Platforms, Inc., Class A | 4.11% | 3.01% | 3.01% |
 MUMicron Technology Inc. COM | 2.95% | 2.37% | 2.37% |
 TSLATesla Inc COM | 2.36% | 3.56% | 2.36% |
 WMTWalmart Inc COM | 2.48% | 2.01% | 2.01% |
 COSTCostco Wholesale Corporation COM | 4.58% | 0.92% | 0.92% |
 NFLXNetflix, Inc. COM | 4.65% | 0.79% | 0.79% |
Frequently Asked Questions
How much do USMC and ONEQ overlap?
USMC and ONEQ overlap by 43.6% of portfolio weight. They share 12 holdings (USMC holds 26 positions and ONEQ holds 1022), based on each fund's latest SEC-reported holdings.
Is it redundant to own both USMC and ONEQ?
The two portfolios are 43.6% 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 USMC and ONEQ?
The largest positions held by both funds are NVDA, AAPL, MSFT, GOOGL and AVGO. Together the top 10 shared positions account for 96% of the total overlap.
What does USMC own that ONEQ doesn't?
14 positions (45.9% of USMC) are unique to USMC, led by JPM, MA and V. In the other direction, 1010 positions (42.6% of ONEQ) are unique to ONEQ.