ABALX vs JEPI: 20% overlap
American Funds American Balanced A and JPMorgan Equity Premium Income ETF share 19.6% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ABALX and JEPI hold 44 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ABALX | in JEPI | Δ |
|---|---|---|---|
| NVDA | 2.0% | 1.4% | 0.6% |
| GOOGL | 1.7% | 1.4% | 0.4% |
| AVGO | 3.4% | 1.3% | 2.1% |
| MSFT | 2.0% | 1.3% | 0.7% |
| PM | 2.2% | 1.2% | 1.0% |
| V | 1.0% | 1.3% | 0.3% |
| VRTX | 1.0% | 1.2% | 0.2% |
| LLY | 1.3% | 0.8% | 0.5% |
| AMZN | 0.8% | 1.4% | 0.6% |
| META | 0.7% | 1.2% | 0.5% |
Where ABALX and JEPI differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | ABALX | JEPI | Δ |
|---|---|---|---|
| Treasuries | 12.3% | 0.0% | +12.3pp |
| Consumer Discretionary | 4.7% | 10.2% | −5.4pp |
| Health Care | 6.7% | 11.6% | −4.9pp |
| Utilities | 1.9% | 5.4% | −3.6pp |
| Corporate — industrial & other | 3.6% | 0.0% | +3.6pp |
| Consumer Staples | 4.4% | 7.8% | −3.4pp |
| Unclassified | 22.7% | 19.6% | +3.1pp |
| Industrials | 6.0% | 8.9% | −3.0pp |
Δ is ABALX minus JEPI, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
74.1% of ABALX by weight, held in no part of JEPI.
61.2% of JEPI by weight, held in no part of ABALX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ABALX | JEPI | |
|---|---|---|
| Top 10 holdings | 36.3% | 15.7% |
| Positions held | 1,439 | 120 |
| Cost per $10,000 held, per year | $56 | $35 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do ABALX and JEPI overlap?
ABALX and JEPI overlap 19.6% by portfolio weight — moderate overlap. They share 44 holdings. The figure comes from current issuer holdings files (ABALX as of 2026-03-31, JEPI as of 2026-03-31).
How is the overlap between ABALX and JEPI calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ABALX holds a stock at 6% and JEPI holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both ABALX and JEPI?
That depends on your goals — we state facts, not advice. At 19.6% overlap, each fund still contributes meaningfully distinct exposure.
What does ABALX own that JEPI doesn't?
ABALX holds 1,439 positions and JEPI holds 120; 1,394 of ABALX's positions don't appear in JEPI at all, and they are 74.1% of ABALX by weight.
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Related comparisons
Sources: issuer holdings files, ABALX as of 2026-03-31, JEPI as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.