AWSHX vs JEPI: 29% overlap
American Funds Washington Mutual A and JPMorgan Equity Premium Income ETF share 29.2% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 30 days apart — JEPI as of 2026-03-31, the rest through 2026-04-30. 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
AWSHX and JEPI hold 59 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AWSHX | in JEPI | Δ |
|---|---|---|---|
| NVDA | 1.6% | 1.4% | 0.2% |
| AAPL | 2.4% | 1.4% | 1.0% |
| GOOGL | 2.0% | 1.4% | 0.6% |
| RTX | 1.4% | 1.5% | 0.1% |
| AVGO | 7.5% | 1.3% | 6.2% |
| V | 1.3% | 1.3% | 0.0% |
| MSFT | 4.6% | 1.3% | 3.4% |
| PM | 3.4% | 1.2% | 2.2% |
| META | 1.4% | 1.2% | 0.2% |
| ABBV | 0.9% | 1.6% | 0.6% |
Where AWSHX 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 | AWSHX | JEPI | Δ |
|---|---|---|---|
| Unclassified | 7.9% | 19.6% | −11.7pp |
| Information Technology | 21.9% | 13.5% | +8.4pp |
| Financials | 15.0% | 8.5% | +6.5pp |
| Consumer Discretionary | 6.9% | 10.2% | −3.3pp |
| Industrials | 11.7% | 8.9% | +2.8pp |
| Utilities | 3.8% | 5.4% | −1.7pp |
| Cash and/or Derivatives | 0.0% | 1.2% | −1.2pp |
| Communication Services | 6.1% | 5.2% | +1.0pp |
Δ is AWSHX 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
50.3% of AWSHX by weight, held in no part of JEPI.
47.9% of JEPI by weight, held in no part of AWSHX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AWSHX | JEPI | |
|---|---|---|
| Top 10 holdings | 29.9% | 15.7% |
| Positions held | 197 | 120 |
| Cost per $10,000 held, per year | $57 | $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 AWSHX and JEPI overlap?
AWSHX and JEPI overlap 29.2% by portfolio weight — moderate overlap. They share 59 holdings. The figure comes from current issuer holdings files (AWSHX as of 2026-04-30, JEPI as of 2026-03-31).
How is the overlap between AWSHX and JEPI calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AWSHX 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 AWSHX and JEPI?
That depends on your goals — we state facts, not advice. At 29.2% overlap, each fund still contributes meaningfully distinct exposure.
What does AWSHX own that JEPI doesn't?
AWSHX holds 197 positions and JEPI holds 120; 138 of AWSHX's positions don't appear in JEPI at all, and they are 50.3% of AWSHX by weight.
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Related comparisons
Sources: issuer holdings files, AWSHX as of 2026-04-30, JEPI as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.