ETF and Mutual Fund Analysis

Holdings as of March 31, 2026 (QQQ) and August 12, 2026 (SPY)

ETF and Mutual Fund Analysis

Overlap, Comparison, and Diversification for Your Portfolio

Home > Compare > QQQ vs SPY Holdings as of March 31, 2026 (QQQ) and August 12, 2026 (SPY)

QQQ vs SPY: Portfolio Overlap

Invesco QQQ Trust, Series 1 vs SPDR® S&P 500® ETF Trust

53.4%
Weighted portfolio overlap
High Overlap

The two funds are running highly redundant strategies — the same market exposure is paid for through two expense ratios.

QQQ
101 equity holdings
as of March 31, 2026
SPY
505 equity holdings
as of August 12, 2026
86 stocks held in common
Overlap View Venn Diagram
53.4% OVERLAP QQQ SPY
Overlapping Holdings
10 Top 10 of 86 shared, by overlap contribution
# Stock QQQ SPY Overlap%
1
NVDA
 8.69% 8.14% 8.14%
2
AAPL
 7.64% 6.66% 6.66%
3
MSFT
 5.64% 5.49% 5.49%
4
AMZN
 4.59% 3.92% 3.92%
5
GOOGL
 3.43% 3.02% 3.02%
6
AVGO
 3.01% 2.95% 2.95%
7
GOOG
 3.20% 2.43% 2.43%
8
META
 3.46% 1.91% 1.91%
9
MU
 2.15% 1.54% 1.54%
10
TSLA
 3.81% 1.38% 1.38%
Most Divergent Holdings Stocks held by one fund but absent from the other
Only in QQQ — Invesco QQQ Trust, Series 1
StockWeight
SHOP0.82%
HON0.81%
ASML0.66%
MELI0.50%
PDD0.39%
Only in SPY — SPDR® S&P 500® ETF Trust
StockWeight
JPM1.47%
LLY1.45%
BRK.B1.40%
XOM0.99%
JNJ0.94%

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Frequently Asked Questions (FAQs)
What is the portfolio overlap between QQQ and SPY?

QQQ (Invesco QQQ Trust, Series 1) and SPY (SPDR® S&P 500® ETF Trust) share 53.4% portfolio overlap as of QQQ's March 31, 2026 filing and SPY's August 12, 2026 filing, across 86 common stocks. Overlap is the sum of the smaller weight of each shared stock, so it reads as the share of a dollar that lands on the same companies in both funds.

Do QQQ and SPY invest in the same stocks?

Largely yes. A substantial portion of both portfolios consists of the same stocks, leaving limited room for differentiation.

What are the top stocks held by both QQQ and SPY?

The most prominent shared holdings (by combined weight) are: NVDA, AAPL, MSFT. See the full common-holdings table on this page for weights in each fund.

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