Concentrated US stock portfolio blending broad market exposure with a strong lean toward large tech leaders
Report created on Jun 18, 2026Risk profile
4/7
Diversification profile
2/5
Positions
-
VO Vanguard S&P 500 ETF
VOO - US9229083632 80.00% -
QQ Invesco NASDAQ 100 ETF
QQQM - US46138G6492 20.00%
This portfolio is very straightforward: two US stock ETFs, with 80% in a broad S&P 500 fund and 20% in a NASDAQ 100 fund. That means everything is in shares of companies, with no bonds, cash, or alternatives. Structurally, this creates a core‑and‑satellite feel: the S&P 500 acts as a broad base, while the NASDAQ 100 adds an extra tilt toward fast‑growing, often more volatile companies. Having only two positions makes the portfolio simple to track and manage, but also means diversification is limited compared with portfolios holding more asset types, regions, or styles.
Growth
Over the period from late 2020 to mid‑2026, $1,000 in this portfolio grew to about $2,343. The compound annual growth rate (CAGR) of 16.27% slightly beat the US market benchmark and clearly outpaced the global market. CAGR is like average speed on a road trip, smoothing out bumps to show long‑term pace. Max drawdown, the worst peak‑to‑trough fall, was about ‑26%, very similar to the global market and a bit deeper than the US benchmark. This pattern suggests the portfolio captured strong upside while experiencing meaningful, but not extreme, downturns relative to equity markets.
Projection
The Monte Carlo projection uses many simulated paths, based on historical return and volatility patterns, to estimate a range of possible 15‑year outcomes. Here, a $1,000 starting amount has a median outcome around $2,824, with a broad “likely” band from roughly $1,800 to $4,300. That spread shows how uncertain long‑term equity returns can be, even when the average annualized return across simulations (8.28%) looks attractive versus cash. Importantly, these simulations assume the future behaves somewhat like the past, which is never guaranteed. They’re best read as rough weather forecasts, not precise promises.
Asset classes
- Stocks 100%
All of this portfolio sits in stocks, with 0% in bonds or other asset classes. This creates a clear, growth‑oriented structure but also means the portfolio fully rides the ups and downs of the equity market. In many broad benchmarks, bonds and other defensive assets typically soften the blow during downturns. Here, the diversification is within stocks only, not across different asset types. That can work well in strong growth environments but usually means deeper swings when markets struggle, since there’s no built‑in shock absorber from less volatile asset classes.
Sectors
- Technology 40%
- Telecommunications 12%
- Consumer Discretionary 10%
- Financials 9%
- Health Care 8%
- Industrials 7%
- Consumer Staples 5%
- Energy 3%
- Utilities 2%
- Basic Materials 2%
- Real Estate 2%
Sector exposure is heavily tilted toward technology at 40%, with additional weight in telecommunications and consumer discretionary. More defensive areas like utilities, consumer staples, and real estate sit at low single‑digit percentages. Compared with broad equity benchmarks, this mix is more growth‑oriented and sensitive to trends in innovation, earnings growth, and interest rates. Tech‑heavy allocations often perform strongly when growth is in favor and borrowing costs are low, but can see sharper pullbacks if sentiment turns, regulation tightens, or rates rise. The sector breakdown makes that growth tilt quite visible.
Regions
- North America 99%
Geographically, the portfolio is almost entirely focused on North America, at 99%. That’s very aligned with the fact both ETFs track US‑based indices, and it matches common “home bias” seen in many investors. However, global equity benchmarks typically spread exposure across multiple regions. This strong US focus means outcomes are tightly linked to the US economy, policy, and dollar movements. When the US outperforms, this can be a tailwind; when other regions lead, the portfolio may miss some of that. The structure is clear: it’s a pure US equity play, not a global mix.
Market capitalization
- Mega-cap 47%
- Large-cap 35%
- Mid-cap 17%
- Small-cap 1%
Market capitalization exposure leans strongly toward the largest companies: about 47% in mega‑caps and 35% in large‑caps, with relatively modest mid‑cap and tiny small‑cap exposure. This aligns with how the S&P 500 and NASDAQ 100 are built, both being dominated by very large firms. Large and mega‑caps often have more stable earnings and deeper liquidity than smaller companies, which can dampen some volatility. On the flip side, it means less exposure to the potential higher growth and higher risk of smaller firms. The portfolio’s behavior will largely echo the biggest names in the market.
True holdings
-
NV NVIDIA Corporation 7.94%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
AA Apple Inc 7.06%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
MS Microsoft Corporation 5.06%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
AM Amazon.com Inc 4.10%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
GO Alphabet Inc Class A 3.41%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
AV Broadcom Inc 3.21%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
GO Alphabet Inc Class C 2.80%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
MU Micron Technology Inc 2.36%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Vanguard S&P 500 ETF
-
TS Tesla Inc 2.16%
Part of fund(s):- Invesco NASDAQ 100 ETF
- LS 1x Tesla Tracker ETP Securities GBP
- Vanguard S&P 500 ETF
-
ME Meta Platforms Inc. 1.70%
Part of fund(s):- Vanguard S&P 500 ETF
- Top 10 total 39.80%
Looking through the ETFs to their largest underlying holdings, a lot of weight clusters in a handful of big tech and growth names. NVIDIA, Apple, Microsoft, Amazon, the two Alphabet share classes, Broadcom, Micron, Tesla, and Meta together form a sizable chunk of total exposure. Several of these appear in both ETFs, creating overlap: owning them through multiple funds magnifies their influence without showing up as a single large line item. Because only top‑10 ETF holdings are captured here, this concentration is likely understated, but it already highlights meaningful dependence on a few mega‑cap leaders.
Factors
Factor exposures here sit close to “neutral” across the board: value, momentum, quality, yield, and low volatility are all around the market‑like 40–60% range, and size shows only a mild tilt away from smaller companies. Factors are like investing “ingredients” that help explain why stocks behave the way they do. A mostly neutral profile suggests the portfolio behaves a lot like a broad market index, rather than intentionally leaning into specific styles such as deep value or high yield. Combined with the large‑cap focus, this points to a relatively straightforward, market‑like factor footprint.
Risk contribution
-
Vanguard S&P 500 ETF
Weight: 80.00% 75.5% -
Invesco NASDAQ 100 ETF
Weight: 20.00% 24.5%
Risk contribution shows how much each ETF drives the portfolio’s overall ups and downs. The S&P 500 ETF, at 80% weight, contributes about 75% of the risk, slightly less than its size would suggest. The NASDAQ 100 ETF, at 20% weight, contributes around 25% of the risk, more than its weight, reflecting its higher volatility. This means changes in the NASDAQ 100 still have an outsized effect on day‑to‑day swings. Even though there are only two holdings, their risk roles are distinct: the NASDAQ piece is the “spicier” component amplifying movements relative to the core.
Risk vs. return
This chart shows the Efficient Frontier, calculated using your current assets with different allocation combinations. It highlights the best balance between risk and return based on historical data. "Efficient" portfolios maximize returns for a given risk or minimize risk for a given return. Portfolios below the curve are less efficient. This is informational and not a recommendation to buy or sell any assets.
Click on the colored dots to explore allocations.
The efficient frontier results show the current mix is already on or very close to the optimal curve for these two ETFs. The Sharpe ratio, which compares excess return to volatility, is solid at 0.72, while the calculated optimal and minimum‑variance portfolios (which coincide here) show a higher Sharpe with slightly lower risk and return. Since the frontier only reweights existing holdings, this suggests the present 80/20 balance is broadly efficient for the level of risk taken. There’s no obvious sign of wasted risk relative to what’s achievable using just these two funds.
Dividends
- Invesco NASDAQ 100 ETF 0.40%
- Vanguard S&P 500 ETF 1.00%
- Weighted yield (per year) 0.88%
The portfolio’s total dividend yield is modest at about 0.88%, reflecting the growth‑oriented nature of its components. The S&P 500 ETF yields around 1.0%, while the NASDAQ 100 ETF yields only 0.4%. Dividends are the cash payments companies make from profits, and over long periods they can contribute significantly to total return. Here, most of the historical and expected return is coming from price movement rather than income. That’s typical for portfolios tilted toward large US growth and tech companies, which often prefer reinvesting earnings back into the business instead of paying high dividends.
Ongoing product costs
- Invesco NASDAQ 100 ETF 0.15%
- Vanguard S&P 500 ETF 0.03%
- Weighted costs total (per year) 0.05%
Costs are impressively low, with a combined ongoing fee (Total Expense Ratio, or TER) of about 0.05% per year. TER is the annual percentage taken by the funds to cover management and operating expenses, quietly reducing returns in the background. Many similar index funds charge more, so this fee level is competitive and supports better long‑term compounding. Even though 0.05% sounds tiny, keeping costs low matters over decades, because less is shaved off every year. In this case, expenses are a clear strength of the portfolio structure and align well with index‑tracking best practices.
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