IWD is a U.S. value equity ETF from IShares, while QQQ is an equity ETF from Invesco. IWD and QQQ show meaningful overlap, with an estimated weighted overlap of 21.01%. They share 58 holdings in the loaded dataset, led by GOOGL, AMZN, and WMT.
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IWD is a U.S. value equity ETF from IShares, while QQQ is an equity ETF from Invesco. IWD and QQQ show meaningful overlap, with an estimated weighted overlap of 21.01%. They share 58 holdings in the loaded dataset, led by GOOGL, AMZN, and WMT.
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IWD is a U.S. value equity ETF from IShares, while QQQ is an equity ETF from Invesco. IWD and QQQ overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as GOOGL, AMZN, and WMT, which explains why the score lands at 21.01%.
IWD is a U.S. value equity ETF from IShares, while QQQ is an equity ETF from Invesco. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. IWD and QQQ are priced very similarly on expense ratio.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 25.52% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
Because IWD and QQQ are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. IWD and QQQ are priced very similarly on expense ratio.
Concentration
The top three shared holdings explain 25.52% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
These are the holdings contributing the most to the overlap score between IWD and QQQ.
| Holding | Name | IWD Wt. | QQQ Wt. | Overlap |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 1.95% | 3.43% | 1.95% |
| AMZN | AMAZON.COM, INC. | 1.81% | 4.58% | 1.81% |
| WMT | WALMART INC. | 1.60% | 3.43% | 1.60% |
| GOOG | ALPHABET INC. | 1.59% | 3.20% | 1.59% |
| MU | MICRON TECHNOLOGY, INC. | 1.24% | 2.15% | 1.24% |
| CSCO | CISCO SYSTEMS, INC. | 1.02% | 1.73% | 1.02% |
| LIN | LINDE PUBLIC LIMITED COMPANY | 0.77% | 1.30% | 0.77% |
| META | META PLATFORMS, INC. | 0.73% | 3.46% | 0.73% |
| INTC | INTEL CORPORATION | 0.64% | 1.25% | 0.64% |
| AMAT | APPLIED MATERIALS, INC. | 0.64% | 1.53% | 0.64% |
IWD is a U.S. value equity ETF from IShares, while QQQ is an equity ETF from Invesco. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are GOOGL, AMZN, and WMT, which appear in both portfolios and push the overlap score higher.
Holding both IWD and QQQ can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
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A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.