AWSHX vs JEPQ: 22% overlap
American Funds Washington Mutual A and JPMorgan Nasdaq Equity Premium Income ETF share 22.1% 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 — JEPQ 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
AWSHX and JEPQ hold 40 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AWSHX | in JEPQ | Δ |
|---|---|---|---|
| MSFT | 4.6% | 4.8% | 0.2% |
| AAPL | 2.4% | 6.4% | 3.9% |
| AVGO | 7.5% | 2.2% | 5.3% |
| NVDA | 1.6% | 7.3% | 5.7% |
| GOOG | 1.5% | 5.1% | 3.5% |
| META | 1.4% | 3.0% | 1.7% |
| AMZN | 0.7% | 4.0% | 3.4% |
| CMCSA | 0.7% | 0.6% | 0.1% |
| MDLZ | 0.6% | 0.5% | 0.1% |
| VRTX | 0.4% | 0.7% | 0.2% |
Where AWSHX 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 | AWSHX | JEPQ | Δ |
|---|---|---|---|
| Information Technology | 21.9% | 37.9% | −16.0pp |
| Financials | 15.0% | 0.5% | +14.5pp |
| Unclassified | 7.9% | 22.3% | −14.4pp |
| Industrials | 11.7% | 1.7% | +10.0pp |
| Health Care | 10.7% | 4.2% | +6.5pp |
| Communication Services | 6.1% | 12.0% | −5.9pp |
| Real Estate | 3.3% | 0.2% | +3.1pp |
| Consumer Discretionary | 6.9% | 10.0% | −3.1pp |
Δ is AWSHX 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
64.0% of AWSHX by weight, held in no part of JEPQ.
46.1% of JEPQ 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 | JEPQ | |
|---|---|---|
| Top 10 holdings | 29.9% | 40.0% |
| Positions held | 197 | 108 |
| 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 JEPQ overlap?
AWSHX and JEPQ overlap 22.1% by portfolio weight — moderate overlap. They share 40 holdings. The figure comes from current issuer holdings files (AWSHX as of 2026-04-30, JEPQ as of 2026-03-31).
How is the overlap between AWSHX and JEPQ 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 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 AWSHX and JEPQ?
That depends on your goals — we state facts, not advice. At 22.1% overlap, each fund still contributes meaningfully distinct exposure.
What does AWSHX own that JEPQ doesn't?
AWSHX holds 197 positions and JEPQ holds 108; 157 of AWSHX's positions don't appear in JEPQ at all, and they are 64.0% of AWSHX by weight.
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Related comparisons
Sources: issuer holdings files, AWSHX as of 2026-04-30, JEPQ as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.