QQQM vs SMH ETF holdings comparison
Invesco NASDAQ 100 ETF (QQQM) · VanEck Semiconductor ETF (SMH)
QQQM and SMH overlap by 33.5% by portfolio weight. The remaining 66.5 percentage points are not counted as shared holdings weight by this calculation. They share 19 stocks; the largest shared position is NVIDIA Corp. (NVDA), contributing 8.13% to the overlap.
The holdings dates differ. This can slightly understate overlap for funds tracking similar indexes.
What this means
QQQM and SMH share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Overlap by weight sums the smaller of the two funds' weights for every stock they both hold. It answers "how much of my money is in the same stocks either way?" See methodology.
This comparison covers normalized equity positions represented in the dataset. Cash, derivatives, options, structured notes, and other non-equity assets are not included, so the result is not a complete comparison of every asset or risk in either fund.
Top shared holdings
| Company | Ticker | in QQQM | in SMH |
|---|---|---|---|
| NVIDIA Corp. | NVDA | 8.13% | 17.55% |
| Micron Technology, Inc. | MU | 4.78% | 5.67% |
| Advanced Micro Devices, Inc. | AMD | 3.68% | 5.63% |
| Broadcom Inc. | AVGO | 3.36% | 5.28% |
| Intel Corp. | INTC | 2.51% | 5.15% |
| Lam Research Corp. | LRCX | 1.74% | 5.31% |
| Applied Materials, Inc. | AMAT | 1.56% | 5.74% |
| Texas Instruments Inc. | TXN | 1.21% | 4.17% |
| QUALCOMM Inc. | QCOM | 1.17% | 3.74% |
| KLA Corp. | KLAC | 1.10% | 5.57% |
Holdings only in QQQM or SMH
QQQM has 82 fund-only positions representing approximately 66.1 percentage points of reported exposure; SMH has 6 fund-only positions representing approximately 14.1 percentage points of reported exposure. These are positions whose normalized security identifiers appear in one issuer file but not the other.
Largest positions only in QQQM
| Company | Ticker | Weight |
|---|---|---|
| Apple Inc. | AAPL | 7.26% |
| Microsoft Corp. | MSFT | 5.30% |
| Amazon.com, Inc. | AMZN | 4.60% |
| Alphabet Inc. | GOOGL | 3.51% |
| Tesla, Inc. | TSLA | 3.45% |
| Alphabet Inc. | GOOG | 3.24% |
| Meta Platforms, Inc. | META | 2.96% |
| Walmart Inc. | WMT | 2.47% |
| Cisco Systems, Inc. | CSCO | 2.08% |
| Costco Wholesale Corp. | COST | 1.86% |
Largest positions only in SMH
| Company | Ticker | Weight |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | TSM | 9.29% |
| Teradyne Inc | TER | 1.50% |
| Astera Labs Inc | ALAB | 1.27% |
| STMicroelectronics NV | STM | 1.26% |
| ON Semiconductor Corp | ON | 0.58% |
| Skyworks Solutions Inc | SWKS | 0.16% |
FAQ
How much do QQQM and SMH overlap?
QQQM and SMH have 33.5% overlap by weight, sharing 19 equity positions (out of 101 in QQQM and 25 in SMH). The official holdings files used are dated 2026-05-31 for QQQM and 2026-06-30 for SMH.
What does 33.5% overlap mean?
QQQM and SMH share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Which stocks do QQQM and SMH both hold?
The largest shared positions are NVIDIA Corp., Micron Technology, Inc., Advanced Micro Devices, Inc., Broadcom Inc., Intel Corp.. The top shared holdings with weights in each fund are shown on this page.
What holdings are different between QQQM and SMH?
QQQM has 82 positions not found in SMH, while SMH has 6 positions not found in QQQM. The largest fund-only positions and their weights are shown on this page.