Data Reference · Updated 2026-07-07
QQQ vs VOO: Nasdaq-100 concentration vs S&P 500 breadth
Invesco QQQ Trust (QQQ) vs Vanguard S&P 500 ETF (VOO) — a 6x fee gap (0.18% vs 0.03%) buys a much more concentrated tech-heavy portfolio; holdings and net assets compared from SEC filings.
Key takeaway
VOO is the cheaper fund (0.03% vs 0.18% expense ratio), and VOO is the larger fund ($1421.26B net assets). And their disclosed top-10 holdings are nearly identical (9 of 10 shared) — the difference lives in the tail of the portfolio, not at the top.
Not investment advice. Figures are sourced from SEC filings and are current as of the dates cited below, not real-time.
QQQ
- Price
- $725.51
- Net Assets
- $372.51B
- Expense Ratio
- 0.18%
- Beta
- 1.24
- Holdings
- 102
VOO
- Price
- $693.86
- Net Assets
- $1421.26B
- Expense Ratio
- 0.03%
- Beta
- 1
- Holdings
- 519
What the filings show
- VOO's 0.03% expense ratio undercuts QQQ's 0.18% — on a $10,000 position that's roughly $15 per year less in fees, before any difference in returns.
- VOO runs a larger asset base ($1421.26B vs $372.51B), which tends to mean tighter bid-ask spreads.
- QQQ concentrates its portfolio in fewer names (102 holdings vs VOO's 519).
- 9 names (NVIDIA Corp, Apple Inc, Microsoft Corp, Amazon.com Inc, Alphabet Inc, Broadcom Inc, Alphabet Inc, Meta Platforms Inc, Tesla Inc) appear in both funds' top 10 holdings.
Top 10 holdings, both funds
Holding | Fund | % of Net Assets |
|---|---|---|
| NVIDIA Corp. | QQQ | 8.68% |
| Apple Inc. | QQQ | 7.63% |
| Microsoft Corp. | QQQ | 5.63% |
| Amazon.com, Inc. | QQQ | 4.58% |
| Tesla, Inc. | QQQ | 3.80% |
| Meta Platforms, Inc. | QQQ | 3.46% |
| Walmart Inc. | QQQ | 3.43% |
| Alphabet Inc. | QQQ | 3.43% |
| Alphabet Inc. | QQQ | 3.20% |
| Broadcom Inc. | QQQ | 3.01% |
| NVIDIA Corp | VOO | 7.58% |
| Apple Inc | VOO | 6.66% |
| Microsoft Corp | VOO | 4.91% |
| Amazon.com Inc | VOO | 3.64% |
| Alphabet Inc | VOO | 2.99% |
| Broadcom Inc | VOO | 2.62% |
| Alphabet Inc | VOO | 2.40% |
| Meta Platforms Inc | VOO | 2.24% |
| Tesla Inc | VOO | 1.87% |
| Berkshire Hathaway Inc | VOO | 1.57% |
From the research desk
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Background reading
Sector context and analytical frameworks that inform how we evaluate individual names.
Sources
- QQQ expense ratio (0.18%, as of 2025-12-19): SEC 485BPOS Prospectus (fees restated)
- VOO expense ratio (0.03%, as of 2026-04-28): SEC 497K Summary Prospectus (ETF Shares)
- QQQ holdings (2026-03-31): SEC Form N-PORT-P
- VOO holdings (2026-03-31): SEC Form N-PORT-P
- Price/beta: QQQ on FMP, VOO on FMP
- Net assets are as filed for the fund series — for multi-class funds (e.g. Vanguard) that is all share classes combined, not the ETF class alone.