IWR vs QQQ Overlap
IWR is a mid-cap U.S. equity ETF from IShares, while QQQ is an equity ETF from Invesco. IWR and QQQ show limited overlap, with an estimated weighted overlap of 6.22%. They share 27 holdings in the loaded dataset, led by WDC, ROST, and WBD.
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Quick Answer
IWR is a mid-cap U.S. equity ETF from IShares, while QQQ is an equity ETF from Invesco. IWR and QQQ show limited overlap, with an estimated weighted overlap of 6.22%. They share 27 holdings in the loaded dataset, led by WDC, ROST, and WBD.
- 6.22% weighted overlap across 27 shared holdings.
- The top three shared holdings explain 19.82% of the measured overlap.
- IWR and QQQ are closer in breadth than a broad-vs-niche ETF pair.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both can still add materially different exposure.
Data Freshness
- IWR holdings
- Mar 12, 2026
- QQQ holdings
- Mar 12, 2026
- Overlap computed
- Mar 13, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
IWR is a mid-cap U.S. equity ETF from IShares, while QQQ is an equity ETF from Invesco. IWR and QQQ do not own much of the same portfolio weight. That usually means you are combining different parts of the market, with only a small amount of duplication through names like WDC, ROST, and WBD.
How They Differ
IWR is a mid-cap U.S. 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. IWR and QQQ are priced very similarly on expense ratio.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 19.82% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
Because IWR and QQQ are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. IWR and QQQ are priced very similarly on expense ratio.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 19.82% 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.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between IWR and QQQ.
| Holding | Name | IWR Wt. | QQQ Wt. | Overlap |
|---|---|---|---|---|
| WDC | WESTERN DIGITAL CORP | 0.70% | 0.49% | 0.49% |
| ROST | ROSS STORES INC | 0.53% | 0.37% | 0.37% |
| WBD | WARNER BROS. DISCOVERY INC SERIES | 0.50% | 0.37% | 0.37% |
| BKR | BAKER HUGHES CLASS A | 0.46% | 0.32% | 0.32% |
| FAST | FASTENAL | 0.41% | 0.29% | 0.29% |
| MPWR | MONOLITHIC POWER SYSTEMS INC | 0.38% | 0.27% | 0.27% |
| EA | ELECTRONIC ARTS INC | 0.39% | 0.27% | 0.27% |
| EXC | EXELON CORP | 0.39% | 0.27% | 0.27% |
| FANG | DIAMONDBACK ENERGY INC | 0.26% | 0.28% | 0.26% |
| XEL | XCEL ENERGY INC | 0.38% | 0.26% | 0.26% |
Why These ETFs Overlap
IWR is a mid-cap U.S. 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 WDC, ROST, and WBD, which appear in both portfolios and push the overlap score higher.
Holding both IWR and QQQ can make sense if you want exposure to different sleeves of the market. The overlap is small enough that both funds may still improve diversification.
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Frequently Asked Questions About IWR and QQQ
What is the overlap between IWR and QQQ?+
How many holdings do IWR and QQQ share?+
Is the IWR and QQQ overlap high?+
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How Overlap Is Calculated
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.