JEPI vs PRGFX: 22% overlap
JPMorgan Equity Premium Income ETF and T. Rowe Price Growth Stock share 22.3% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
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
JEPI and PRGFX hold 27 of the same securities. The ten contributing most to the overlap figure:
| Holding | in JEPI | in PRGFX | Δ |
|---|---|---|---|
| NVDA | 1.4% | 13.8% | 12.4% |
| AMZN | 1.4% | 4.9% | 3.5% |
| AAPL | 1.4% | 11.1% | 9.7% |
| GOOGL | 1.4% | 7.0% | 5.6% |
| MA | 1.4% | 1.9% | 0.6% |
| AVGO | 1.3% | 5.1% | 3.8% |
| V | 1.3% | 2.3% | 1.0% |
| MSFT | 1.3% | 9.1% | 7.8% |
| META | 1.2% | 3.9% | 2.7% |
| HWM | 1.6% | 0.9% | 0.7% |
Where JEPI and PRGFX 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 | JEPI | PRGFX | Δ |
|---|---|---|---|
| Information Technology | 13.5% | 48.2% | −34.8pp |
| Unclassified | 19.6% | 5.9% | +13.7pp |
| Communication Services | 5.2% | 13.1% | −8.0pp |
| Consumer Staples | 7.8% | 0.8% | +7.0pp |
| Utilities | 5.4% | 0.0% | +5.4pp |
| Health Care | 11.6% | 6.5% | +5.1pp |
| Cash & Other | 0.0% | 3.5% | −3.5pp |
| Financials | 8.5% | 5.1% | +3.4pp |
Δ is JEPI minus PRGFX, 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
74.3% of JEPI by weight, held in no part of PRGFX.
22.4% of PRGFX by weight, held in no part of JEPI.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| JEPI | PRGFX | |
|---|---|---|
| Top 10 holdings | 15.7% | 62.8% |
| Positions held | 120 | 79 |
| Cost per $10,000 held, per year | $35 | $64 |
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 JEPI and PRGFX overlap?
JEPI and PRGFX overlap 22.3% by portfolio weight — moderate overlap. They share 27 holdings. The figure comes from current issuer holdings files (JEPI as of 2026-03-31, PRGFX as of 2026-03-31).
How is the overlap between JEPI and PRGFX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If JEPI holds a stock at 6% and PRGFX 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 JEPI and PRGFX?
That depends on your goals — we state facts, not advice. At 22.3% overlap, each fund still contributes meaningfully distinct exposure.
What does JEPI own that PRGFX doesn't?
JEPI holds 120 positions and PRGFX holds 79; 93 of JEPI's positions don't appear in PRGFX at all, and they are 74.3% of JEPI by weight.
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Related comparisons
Sources: issuer holdings files, JEPI as of 2026-03-31, PRGFX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.