USPX vs FQAL overlap
USPX and FQAL overlap 51.5% by weight, across 106 shared holdings.
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Top shared holdings
| Holding | USPX | FQAL | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 7.29% | 7.69% | 7.29% |
| Apple Inc.AAPL | 6.59% | 7.22% | 6.59% |
| Microsoft Corp.MSFT | 4.31% | 5.62% | 4.31% |
| Alphabet Inc.-aGOOGL | 3.25% | 5.58% | 3.25% |
| Broadcom Inc.AVGO | 2.73% | 3.36% | 2.73% |
| META Platforms-aMETA | 1.92% | 1.90% | 1.90% |
| ELI Lilly & CoLLY | 1.50% | 1.77% | 1.50% |
| JPMorgan ChaseJPM | 1.37% | 1.97% | 1.37% |
| Johnson&JohnsonJNJ | 0.95% | 1.37% | 0.95% |
| Applied MaterialAMAT | 0.89% | 1.54% | 0.89% |
| Exxon Mobil Corp.XOM | 0.88% | 1.12% | 0.88% |
| VISA Inc.-Class aV | 0.88% | 1.48% | 0.88% |
| LAM ResearchLRCX | 0.85% | 1.31% | 0.85% |
| Caterpillar Inc.CAT | 0.76% | 0.97% | 0.76% |
| Cisco SystemsCSCO | 0.72% | 1.46% | 0.72% |
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: USPX, SEC Form N-PORT, June 30, 2026; FQAL, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | USPX | FQAL |
|---|---|---|
| FMR LLC | $4K | $576.6M |
| Envestnet Asset Management Inc. | $511K | $111.8M |
| JPMorgan Chase & Co | $32.9M | $18.9M |
| LPL Financial LLC | $12.0M | $7.8M |
| Cetera Investment Advisers | $1.1M | $13.3M |
| Osaic Holdings, Inc. | $3.5M | $10.1M |
| Susquehanna International Group, LLP | $583K | $4.7M |
| Goldman Sachs Group Inc. | $3.3M | $1.9M |
| Jane Street Group, LLC | $500K | $779K |
| Flow Traders U.S. LLC | $272K | $371K |
| O'SHAughnessy Asset Management, LLC | $26K | $383K |
| Global Retirement Partners, LLC | $653 | $180K |
| Wells Fargo & Company | $40 | $6K |
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: USPX institutional holders, FQAL institutional holders.
Frequently asked questions
How much do USPX and FQAL overlap?
51.5% by weight, with 106 holdings in common, using holdings for USPX as of June 30, 2026 and FQAL as of July 31, 2026. The largest shared position is NVDA.
Do institutions hold both USPX and FQAL?
13 Form 13F filers report positions in both, out of 182 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%.