IEFA vs JEPQ: 0% overlap
iShares Core MSCI EAFE ETF and JPMorgan Nasdaq Equity Premium Income ETF share 0.0% 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
IEFA and JEPQ hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IEFA | in JEPQ | Δ |
|---|---|---|---|
| CASH | 0.0% | 1.8% | 1.8% |
Where IEFA 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 | IEFA | JEPQ | Δ |
|---|---|---|---|
| Information Technology | 11.9% | 37.9% | −26.0pp |
| Financials | 24.2% | 0.5% | +23.7pp |
| Unclassified | 0.0% | 22.3% | −22.3pp |
| Industrials | 19.6% | 1.7% | +17.9pp |
| Communication Services | 3.2% | 12.0% | −8.8pp |
| Materials | 6.4% | 0.0% | +6.4pp |
| Energy | 3.9% | 0.4% | +3.5pp |
| Health Care | 7.6% | 4.2% | +3.4pp |
Δ is IEFA 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
99.5% of IEFA by weight, held in no part of JEPQ.
96.6% of JEPQ by weight, held in no part of IEFA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IEFA | JEPQ | |
|---|---|---|
| Top 10 holdings | 12.5% | 40.0% |
| Positions held | 2,567 | 108 |
| Cost per $10,000 held, per year | $7 | $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 IEFA and JEPQ overlap?
IEFA and JEPQ overlap 0.0% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (IEFA as of 2026-07-23, JEPQ as of 2026-03-31).
How is the overlap between IEFA and JEPQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IEFA 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 IEFA and JEPQ?
That depends on your goals — we state facts, not advice. At 0.0% overlap, each fund still contributes meaningfully distinct exposure.
What does IEFA own that JEPQ doesn't?
IEFA holds 2,567 positions and JEPQ holds 108; 2,565 of IEFA's positions don't appear in JEPQ at all, and they are 99.5% of IEFA by weight.
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Related comparisons
Sources: issuer holdings files, IEFA as of 2026-07-23, JEPQ as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.