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ETF Overlap Tool: SPY vs QQQ

Compare portfolio holdings overlap, tech concentration risk, and expense ratio differences between SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ).

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ETF Overlap Overview & Key Metrics
SPY (503 Total) QQQ (101 Total) ONLY IN SPY 419 Stocks (53.6% Weight) MODERATE TECH OVERLAP 84 Shared Stocks (83.2%) 46.4% Weight Duplication ONLY IN QQQ 17 Stocks (53.6% Weight)
Overlap by Weight
46.4%
⚡ Moderate Tech Overlap
Expense Ratio Gap
0.095% vs 0.20%
SPY is 2.1x cheaper than QQQ
Unique Holdings
419 vs 17 Stocks
~53.6% Weight Difference
Sector Allocation Breakdown
Information Technology
38.82%
Financials
12.09%
Communication Services
9.57%
Healthcare
9.3%
Consumer Discretionary
9.14%
Industrials
7.73%
Consumer Staples
4.42%
Energy
3.47%
Utilities
2.01%
Real Estate
1.79%
Materials
1.66%
Information Technology
58.17%
Communication Services
12.99%
Consumer Discretionary
11.29%
Consumer Staples
6.5%
Healthcare
4.13%
Industrials
3.97%
Utilities
1.16%
Materials
1.02%
Energy
0.53%
Financials
0.24%

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Stock Holdings Breakdown (SPY vs QQQ)

75 Assets
Asset Sector SPY Weight QQQ Weight Combined (50/50) Status
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Showing 1 to 20 of 73 holdings

SPY vs QQQ: Portfolio Overlap & Investment Strategy Guide

When evaluating SPDR S&P 500 ETF Trust (SPY) versus Invesco QQQ Trust (QQQ), investors are comparing two distinct ETF strategies. SPY holds 503 total assets while QQQ contains 101 total assets. Across both portfolios, they share 24 common stock holdings, representing a 46.4% portfolio overlap by weight.

Sector Concentration & Shared Stock Holdings

While both funds invest in equity markets, their internal sector allocations create meaningful differences in portfolio performance and volatility:

  • Primary Sector Focus: SPY concentrates its largest allocation in Information Technology (38.82%), whereas QQQ allocates its highest weighting to Information Technology (58.17%).
  • Top Shared Holdings: Key overlapping stocks held in both funds include NVIDIA Corporation (NVDA), Apple Inc (AAPL), Microsoft Corporation (MSFT), Micron Technology, Inc (MU).
  • Holdings Distribution: SPY features 503 holdings compared to 101 holdings in QQQ, affecting single-stock concentration risk.

Strategic Portfolio Insight: Moderate Overlap & Balanced Dual Exposure

Combining SPY and QQQ creates a moderate portfolio overlap of 46.4% by weight. While they share 24 common holdings, each ETF offers distinct sector weightings and strategy tilts that can complement a broader asset allocation strategy.

Expense Ratio Comparison & Performance: SPY vs QQQ

Beyond portfolio holdings overlap, fund management fees, dividend yields, and sector diversification play a vital role in long-term compounding returns:

1. Annual Management Fee Impact

SPY charges a lower expense ratio of 0.10% compared to QQQ at 0.20%. SPY is 2.1x cheaper, saving long-term investors approximately $11 per year for every $100,000 invested.

2. Volatility, Risk & Long-Term Growth Potential

SPY and QQQ react differently to changing interest rates, market cycles, and sector rotations. Diversifying across funds with different underlying indexes helps reduce portfolio drawdown risk during broader market corrections.

Snowball Portfolio Lab Insight

Want to analyze how combining SPY and QQQ impacts your total portfolio yield, sector distribution, and historical dividend income? Model your custom asset allocation in the Snowball Analytics Portfolio Lab.

Frequently Asked Questions: SPY vs QQQ ETF Overlap
What is the portfolio overlap percentage between SPY and QQQ?
SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) have a 46.4% overlap by weight and share 24 identical stock holdings. SPY holds 503 total assets while QQQ holds 101 total assets.
What is the main difference between SPY and QQQ?
The main difference between SPY and QQQ lies in sector allocation, expense ratio, and portfolio breadth:
  • Sector Focus: SPY's largest sector is Information Technology (38.82%), whereas QQQ's largest sector is Information Technology (58.17%).
  • Expense Ratio: SPY has an expense ratio of 0.10%, while QQQ charges 0.20%. SPY is 2.1x cheaper than QQQ.
  • Portfolio Breadth: SPY holds 503 total stocks vs QQQ's 101 stocks.
Is it good to hold both SPY and QQQ in the same portfolio?
Holding both SPY and QQQ results in a 46.4% portfolio weight overlap across 24 common holdings. With a moderate weight overlap of 46.4%, holding both SPY and QQQ can provide balanced dual exposure if you want to tilt toward specific sector weightings while maintaining broader market coverage.
Which ETF has lower management expense fees: SPY or QQQ?
SPY has an expense ratio of 0.10%, while QQQ charges 0.20%. SPY is 2.1x cheaper than QQQ.
Which ETF is better for long-term investors: SPY or QQQ?
The ideal choice depends on your investment strategy: SPY (0.10% expense ratio) provides exposure to SPDR S&P 500 ETF Trust, while QQQ (0.20% expense ratio) offers exposure to Invesco QQQ Trust. Comparing sector concentration and historical volatility helps align your choice with long-term goals.
Do SPY and QQQ pay dividends?
Yes, both SPY and QQQ pay quarterly dividend distributions to shareholders derived from underlying dividend payments of portfolio companies.