IVW vs JEPI: 22% overlap
iShares S&P 500 Growth ETF and JPMorgan Equity Premium Income ETF share 21.7% 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 — JEPI 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IVW and JEPI hold 41 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVW | in JEPI | Δ |
|---|---|---|---|
| NVDA | 14.7% | 1.4% | 13.3% |
| AMZN | 3.5% | 1.4% | 2.1% |
| AAPL | 6.9% | 1.4% | 5.5% |
| GOOGL | 5.4% | 1.4% | 4.0% |
| AVGO | 5.4% | 1.3% | 4.1% |
| MSFT | 8.2% | 1.3% | 6.9% |
| META | 3.9% | 1.2% | 2.7% |
| JNJ | 1.1% | 1.7% | 0.7% |
| V | 0.9% | 1.3% | 0.4% |
| NFLX | 0.8% | 0.9% | 0.0% |
Where IVW 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 | IVW | JEPI | Δ |
|---|---|---|---|
| Information Technology | 52.5% | 13.5% | +39.1pp |
| Unclassified | 0.0% | 19.6% | −19.6pp |
| Communication Services | 14.7% | 5.2% | +9.6pp |
| Consumer Staples | 1.2% | 7.8% | −6.7pp |
| Health Care | 6.3% | 11.6% | −5.3pp |
| Utilities | 0.4% | 5.4% | −5.0pp |
| Energy | 0.0% | 3.3% | −3.3pp |
| Industrials | 6.6% | 8.9% | −2.3pp |
Δ is IVW 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
35.1% of IVW by weight, held in no part of JEPI.
59.8% of JEPI by weight, held in no part of IVW.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IVW | JEPI | |
|---|---|---|
| Top 10 holdings | 58.2% | 15.7% |
| Positions held | 149 | 120 |
| Cost per $10,000 held, per year | $18 | $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 IVW and JEPI overlap?
IVW and JEPI overlap 21.7% by portfolio weight — moderate overlap. They share 41 holdings. The figure comes from current issuer holdings files (IVW as of 2026-07-23, JEPI as of 2026-03-31).
How is the overlap between IVW and JEPI calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IVW 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 IVW and JEPI?
That depends on your goals — we state facts, not advice. At 21.7% overlap, each fund still contributes meaningfully distinct exposure.
What does IVW own that JEPI doesn't?
IVW holds 149 positions and JEPI holds 120; 107 of IVW's positions don't appear in JEPI at all, and they are 35.1% of IVW by weight.
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Related comparisons
Sources: issuer holdings files, IVW as of 2026-07-23, JEPI as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.