QQQM vs SPY ETF holdings comparison
Invesco NASDAQ 100 ETF (QQQM) · SPDR S&P 500 ETF Trust (SPY)
QQQM and SPY overlap by 54.6% by portfolio weight. The remaining 45.4 percentage points are not counted as shared holdings weight by this calculation. They share 86 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 SPY 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 SPY |
|---|---|---|---|
| NVIDIA Corp. | NVDA | 8.13% | 8.34% |
| Apple Inc. | AAPL | 7.26% | 7.43% |
| Microsoft Corp. | MSFT | 5.30% | 5.80% |
| Amazon.com, Inc. | AMZN | 4.60% | 3.73% |
| Alphabet Inc. | GOOGL | 3.51% | 3.05% |
| Broadcom Inc. | AVGO | 3.36% | 2.56% |
| Alphabet Inc. | GOOG | 3.24% | 2.45% |
| Meta Platforms, Inc. | META | 2.96% | 2.38% |
| Micron Technology, Inc. | MU | 4.78% | 1.75% |
| Tesla, Inc. | TSLA | 3.45% | 1.58% |
Holdings only in QQQM or SPY
QQQM has 15 fund-only positions representing approximately 4.4 percentage points of reported exposure; SPY has 417 fund-only positions representing approximately 44.5 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 |
|---|---|---|
| Honeywell International Inc. | HON | 0.66% |
| Shopify Inc. | SHOP | 0.64% |
| ASML Holding N.V. | ASML | 0.62% |
| MercadoLibre, Inc. | MELI | 0.38% |
| Warner Bros. Discovery, Inc. | WBD | 0.29% |
| PDD Holdings Inc. | PDD | 0.25% |
| Electronic Arts Inc. | EA | 0.22% |
| Strategy Inc. | MSTR | 0.22% |
| ARM Holdings PLC | ARM | 0.22% |
| Ferrovial N.V. | FER | 0.21% |
Largest positions only in SPY
| Company | Ticker | Weight |
|---|---|---|
| Berkshire Hathaway Inc Cl B | BRK.B | 1.42% |
| Eli Lilly + Co | LLY | 1.40% |
| Jpmorgan Chase + Co | JPM | 1.32% |
| Exxonmobil Holdings Corp | XOM | 1.04% |
| Visa Inc Class A Shares | V | 0.96% |
| Johnson + Johnson | JNJ | 0.92% |
| Abbvie Inc | ABBV | 0.72% |
| Mastercard Inc A | MA | 0.69% |
| Chevron Corp | CVX | 0.62% |
| Caterpillar Inc | CAT | 0.55% |
FAQ
How much do QQQM and SPY overlap?
QQQM and SPY have 54.6% overlap by weight, sharing 86 equity positions (out of 101 in QQQM and 503 in SPY). The official holdings files used are dated 2026-05-31 for QQQM and 2026-10-08 for SPY.
What does 54.6% overlap mean?
QQQM and SPY 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 SPY both hold?
The largest shared positions are NVIDIA Corp., Apple Inc., Microsoft Corp., Amazon.com, Inc., Alphabet Inc.. The top shared holdings with weights in each fund are shown on this page.
What holdings are different between QQQM and SPY?
QQQM has 15 positions not found in SPY, while SPY has 417 positions not found in QQQM. The largest fund-only positions and their weights are shown on this page.