IVV vs QQQM: Correlation & Overlap
iShares Core S&P 500 ETF (IVV) and Invesco Nasdaq 100 ETF (QQQM) show a very strong relationship: their 3-year correlation of weekly returns is 0.95. By holdings, the two funds overlap 53.4% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and QQQM?
Across a 3-year window, the weekly returns of IVV and QQQM correlate at 0.95, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.93 lands near the 3-year figure. Stretching to 5 years gives 0.95, with an annualized covariance of 268.0 %².
Within IVV's tracked universe of 122 assets, QQQM comes in at #10 by 3-year correlation. The trailing year gives QQQM the advantage: +20.7% versus +26.4%, a 5.7-point spread. The rolling one-year correlation stayed in a tight band between 0.89 and 0.97 over the past three years, which points to a structural rather than episodic relationship.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IVV vs QQQM: side by side
| IVV (iShares Core S&P 500 ETF) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +20.7% | +26.4% |
| 5-year return | +83.0% | +96.1% |
| Volatility (ann.) | 14.5% | 19.5% |
| Beta vs S&P 500 | 1.00 | 1.28 |
| Max drawdown (3Y) | -18.8% | -22.7% |
| Dividend yield | 1.09% | 0.46% |
| Expense ratio | 0.03% | 0.15% |
| Assets under management | $869.2B | $97.1B |
| Sector / category | ETF · US Large Cap | ETF · US Growth & Tech |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield. QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Portfolio overlap between IVV and QQQM
The two portfolios overlap heavily, with 87 holdings in common adding up to 53.4% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in IVV | Weight in QQQM |
|---|---|---|
| NVDA | 7.67% | 8.15% |
| AAPL | 6.96% | 7.39% |
| MSFT | 5.57% | 5.93% |
| AMZN | 3.85% | 4.50% |
| GOOGL | 3.03% | 3.20% |
| AVGO | 2.54% | 2.71% |
| GOOG | 2.42% | 2.97% |
| META | 1.91% | 2.74% |
| MU | 1.60% | 4.69% |
| TSLA | 1.47% | 2.77% |
| AMD | 1.18% | 3.48% |
| WMT | 0.69% | 2.26% |
| CSCO | 0.67% | 1.96% |
| INTC | 0.66% | 1.97% |
| COST | 0.64% | 1.88% |
Largest positions held only by IVV: JPM (1.44%), LLY (1.42%), BRK.B (1.40%), XOM (0.99%), JNJ (0.98%). Only by QQQM: SPCX (1.19%), SHOP (0.81%), ASML (0.71%), ARM (0.47%), MELI (0.44%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | IVV | QQQM |
|---|---|---|
| 2022 | -18.2% | -32.5% |
| 2023 | +26.3% | +55.0% |
| 2024 | +24.9% | +25.7% |
| 2025 | +17.8% | +20.9% |
| 2026 | +13.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and QQQM good diversifiers for each other?
Not really. At 0.95, the two trade almost as one position, and owning both buys little extra protection. They also hold much of the same portfolio (53.4% overlap), so the exposure is doubly redundant.
FAQ
What is the correlation between IVV and QQQM?
Using weekly returns as of 2026-08-27: 0.95 over 3 years, with 0.93 over the last year and 0.95 over 5 years.
Is QQQM a good diversifier for IVV?
Not really. At 0.95, the two trade almost as one position, and owning both buys little extra protection. They also hold much of the same portfolio (53.4% overlap), so the exposure is doubly redundant.
How much do IVV and QQQM overlap?
The two funds share 87 holdings amounting to 53.4% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
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Related comparisons
Hubs: IVV correlations · QQQM correlations
