Quick Comparison
| Feature | VOO | QQQ |
|---|---|---|
| Index | S&P 500 | Nasdaq-100 |
| Holdings | ~500 | ~100 |
| Holdings Overlap | ~50% | |
| Expense Ratio | 0.03% | 0.20% |
| Dividend Yield | ~1.1% | ~0.6% |
What Is the Overlap Between VOO and QQQ?
The weighted overlap of 52.5% means that more than half of your effective exposure is duplicated when holding both funds. This duplication largely comes from mega-cap technology leaders such as Apple, Microsoft, Nvidia, Amazon and Alphabet.
Key insight: While both ETFs hold large-cap U.S. stocks, the overlap is concentrated in the top 10 holdings — where the weight difference matters most for your portfolio's risk profile.
Run a free VOO vs QQQ overlap analysis
Diversification Differences
VOO tracks the S&P 500 and includes broad sector exposure including financials, healthcare, industrials and consumer staples. QQQ tracks the Nasdaq-100 and excludes financials entirely, concentrating heavily in technology and growth stocks.
Volatility & Risk
QQQ historically produces higher returns during strong growth cycles but experiences deeper drawdowns during market corrections. VOO offers broader diversification and smoother volatility over time.
Expense Ratio & Long-Term Costs
VOO's 0.03% expense ratio makes it one of the lowest-cost broad market ETFs available. QQQ charges 0.20%, which compounds into higher total cost over long investment horizons.
Should You Own Both?
Because overlap exceeds 50%, owning both increases growth tilt rather than diversification. Investors combining both are intentionally overweighting technology exposure.
Watch out: Holding both VOO and QQQ means your top 5 holdings (Apple, Microsoft, Nvidia, Amazon, Meta) could represent 25%+ of your combined portfolio — far more concentration than many investors realize.
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