USSG vs QDEF overlap
USSG and QDEF overlap 28.2% by weight, across 54 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (USSG: May 29, 2026, QDEF: July 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 | USSG | QDEF | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 14.28% | 6.40% | 6.40% |
| Microsoft Corp.MSFT | 9.30% | 4.04% | 4.04% |
| Alphabet Inc.-aGOOGL | 6.48% | 2.44% | 2.44% |
| Alphabet Inc.-CGOOG | 5.10% | 1.98% | 1.98% |
| Johnson&JohnsonJNJ | 1.59% | 2.76% | 1.59% |
| LAM ResearchLRCX | 1.16% | 1.36% | 1.16% |
| Procter & GamblePG | 0.97% | 2.34% | 0.97% |
| ELI Lilly & CoLLY | 2.60% | 0.83% | 0.83% |
| GE Vernova Inc.GEV | 0.76% | 0.76% | 0.76% |
| Western DigitalWDC | 0.54% | 0.56% | 0.54% |
| Amgen Inc.AMGN | 0.53% | 0.71% | 0.53% |
| TJX COS Inc.TJX | 0.50% | 1.22% | 0.50% |
| Gilead SciencesGILD | 0.49% | 1.07% | 0.49% |
| Booking HoldingsBKNG | 0.38% | 0.64% | 0.38% |
| VISA Inc.-Class aV | 1.61% | 0.36% | 0.36% |
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: USSG, SEC Form N-PORT, May 29, 2026; QDEF, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | USSG | QDEF |
|---|---|---|
| FMR LLC | $43.7M | $648K |
| Bank of America Corp. | $22.4M | $7.7M |
| LPL Financial LLC | $2.7M | $16.4M |
| Morgan Stanley | $2.5M | $8.8M |
| Envestnet Asset Management Inc. | $10.2M | $655K |
| US Bancorp | $9.5M | $148K |
| Raymond James Financial Inc. | $533K | $7.0M |
| Goldman Sachs Group Inc. | $5.1M | $1.2M |
| Cetera Investment Advisers | $3.3M | $1.7M |
| MML Investors Services, LLC | $1.3M | $3.6M |
| JPMorgan Chase & Co | $1.9M | $2.6M |
| Cambridge Investment Research Advisors, Inc. | $916K | $3.4M |
| Ameriprise Financial Inc. | $2.1M | $2.2M |
| Commonwealth Equity Services, LLC | $2.4M | $1.4M |
| Wells Fargo & Company | $3.0M | $26K |
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: USSG institutional holders, QDEF institutional holders.
Frequently asked questions
How much do USSG and QDEF overlap?
28.2% by weight, with 54 holdings in common, using holdings for USSG as of May 29, 2026 and QDEF as of July 31, 2026. The largest shared position is NVDA.
Do institutions hold both USSG and QDEF?
28 Form 13F filers report positions in both, out of 158 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%.