AGG vs JEPQ: 2% overlap
iShares Core U.S. Aggregate Bond ETF and JPMorgan Nasdaq Equity Premium Income ETF share 1.8% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 4 months apart — JEPQ as of 2026-03-31, the rest through 2026-07-23. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
AGG and JEPQ hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AGG | in JEPQ | Δ |
|---|---|---|---|
| CASH | 2.7% | 1.8% | 0.8% |
Where AGG and JEPQ 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 | AGG | JEPQ | Δ |
|---|---|---|---|
| Treasuries | 46.5% | 0.0% | +46.5pp |
| Information Technology | 0.0% | 37.9% | −37.9pp |
| MBS Pass-Through | 24.1% | 0.0% | +24.1pp |
| Unclassified | 0.0% | 22.3% | −22.3pp |
| Corporate — industrial & other | 14.3% | 0.0% | +14.3pp |
| Communication Services | 0.0% | 12.0% | −12.0pp |
| Consumer Discretionary | 0.0% | 10.0% | −10.0pp |
| Financials | 8.0% | 0.5% | +7.5pp |
Δ is AGG minus JEPQ, 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
99.4% of AGG by weight, held in no part of JEPQ.
96.6% of JEPQ by weight, held in no part of AGG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AGG | JEPQ | |
|---|---|---|
| Top 10 holdings | 75.3% | 40.0% |
| Positions held | 1,864 | 108 |
| Cost per $10,000 held, per year | $3 | $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 AGG and JEPQ overlap?
AGG and JEPQ overlap 1.8% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (AGG as of 2026-07-23, JEPQ as of 2026-03-31).
How is the overlap between AGG and JEPQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AGG holds a stock at 6% and JEPQ 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 AGG and JEPQ?
That depends on your goals — we state facts, not advice. At 1.8% overlap, each fund still contributes meaningfully distinct exposure.
What does AGG own that JEPQ doesn't?
AGG holds 1,864 positions and JEPQ holds 108; 1,862 of AGG's positions don't appear in JEPQ at all, and they are 99.4% of AGG by weight.
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Related comparisons
Sources: issuer holdings files, AGG as of 2026-07-23, JEPQ as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.