QQQ vs IWF overlap
QQQ and IWF overlap 58.1% by weight, across 61 shared holdings.
Pick 2 to 4 ETFs.
Top shared holdings
| Holding | QQQ | IWF | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 7.60% | 13.83% | 7.60% |
| Apple Inc.AAPL | 6.67% | 6.72% | 6.67% |
| Microsoft Corp.MSFT | 4.35% | 4.11% | 4.11% |
| Micron TechMU | 5.64% | 3.86% | 3.86% |
| Tesla Inc.TSLA | 3.30% | 3.64% | 3.30% |
| Alphabet Inc.-aGOOGL | 3.27% | 6.17% | 3.27% |
| Alphabet Inc.-CGOOG | 3.02% | 4.98% | 3.02% |
| Broadcom Inc.AVGO | 2.81% | 5.21% | 2.81% |
| ADV Micro DeviceAMD | 4.10% | 2.80% | 2.80% |
| META Platforms-aMETA | 2.62% | 3.00% | 2.62% |
| Applied MaterialAMAT | 2.49% | 1.70% | 1.70% |
| LAM ResearchLRCX | 2.35% | 1.60% | 1.60% |
| KLA Corp.KLAC | 1.71% | 1.17% | 1.17% |
| Sandisk Corp.SNDK | 1.46% | 0.98% | 0.98% |
| Netflix Inc.NFLX | 1.30% | 0.89% | 0.89% |
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: QQQ, SEC Form N-PORT, June 30, 2026; IWF, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | QQQ | IWF |
|---|---|---|
| Morgan Stanley | $15.6B | $14.8B |
| Bank of America Corp. | $12.5B | $13.5B |
| LPL Financial LLC | $7.8B | $1.9B |
| Goldman Sachs Group Inc. | $4.7B | $3.4B |
| Wells Fargo & Company | $5.3B | $2.2B |
| UBS Group AG | $4.2B | $2.3B |
| JPMorgan Chase & Co | $2.1B | $3.2B |
| Envestnet Asset Management Inc. | $2.2B | $2.6B |
| Raymond James Financial Inc. | $3.1B | $1.7B |
| FMR LLC | $638.3M | $4.1B |
| Royal Bank of Canada | $3.1B | $928.8M |
| PNC Financial Services Group, Inc. | $2.1B | $1.5B |
| Ameriprise Financial Inc. | $2.8B | $745.5M |
| Northwestern Mutual Wealth Management Co | $2.3B | $335.5M |
| Northern Trust Corp. | $192.2M | $2.5B |
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: QQQ institutional holders, IWF institutional holders.
Frequently asked questions
How much do QQQ and IWF overlap?
58.1% by weight, with 61 holdings in common, using holdings for QQQ as of June 30, 2026 and IWF as of June 30, 2026. The largest shared position is NVDA.
Do institutions hold both QQQ and IWF?
2,077 Form 13F filers report positions in both, out of 4,432 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%.