QDEF vs EQAL overlap
QDEF and EQAL overlap 13.3% by weight, across 127 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (QDEF: July 31, 2026, EQAL: May 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | QDEF | EQAL | Overlap |
|---|---|---|---|
| Cisco SystemsCSCO | 2.27% | 0.73% | 0.73% |
| Devon Energy CoDVN | 0.51% | 0.43% | 0.43% |
| Comcast Corp.-aCMCSA | 0.61% | 0.39% | 0.39% |
| Newmarket Corp.NEU | 0.50% | 0.29% | 0.29% |
| APA Corp.APA | 0.47% | 0.24% | 0.24% |
| T-Mobile US Inc.TMUS | 0.24% | 0.41% | 0.24% |
| Southern CopperSCCO | 0.37% | 0.24% | 0.24% |
| Valero EnergyVLO | 0.72% | 0.23% | 0.23% |
| Fastenal CoFAST | 0.60% | 0.22% | 0.22% |
| Newmont Corp.NEM | 0.72% | 0.22% | 0.22% |
| ConocophillipsCOP | 1.06% | 0.21% | 0.21% |
| Exxon Mobil Corp.XOM | 0.46% | 0.21% | 0.21% |
| Avery DennisonAVY | 0.36% | 0.21% | 0.21% |
| Anglogold AshantAU | 0.41% | 0.21% | 0.21% |
| AES Corp.AES | 0.43% | 0.20% | 0.20% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: QDEF, SEC Form N-PORT, July 31, 2026; EQAL, SEC Form N-PORT, May 31, 2026.
Largest institutions holding both
| Firm | QDEF | EQAL |
|---|---|---|
| Stifel Financial Corp. | $731K | $274.2M |
| Bank of America Corp. | $7.7M | $23.7M |
| LPL Financial LLC | $16.4M | $13.5M |
| Morgan Stanley | $8.8M | $12.6M |
| Raymond James Financial Inc. | $7.0M | $3.1M |
| UBS Group AG | $664K | $9.2M |
| PNC Financial Services Group, Inc. | $91K | $7.0M |
| Goldman Sachs Group Inc. | $1.2M | $4.4M |
| Royal Bank of Canada | $2.0M | $1.8M |
| Cetera Investment Advisers | $1.7M | $2.1M |
| Creative Planning | $2.6M | $754K |
| Envestnet Asset Management Inc. | $655K | $2.7M |
| Ameriprise Financial Inc. | $2.2M | $477K |
| Commonwealth Equity Services, LLC | $1.4M | $1.1M |
| NewEdge Advisors, LLC | $763K | $1.3M |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: QDEF institutional holders, EQAL institutional holders.
Frequently asked questions
How much do QDEF and EQAL overlap?
13.3% by weight, with 127 holdings in common, using holdings for QDEF as of July 31, 2026 and EQAL as of May 31, 2026. The largest shared position is CSCO.
Do institutions hold both QDEF and EQAL?
32 Form 13F filers report positions in both, out of 167 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.