JEPI vs TRRBX: 0% overlap
JPMorgan Equity Premium Income ETF and T. Rowe Price Retirement 2020 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 31 days apart — TRRBX as of 2026-02-28, the rest through 2026-03-31. 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
JEPI and TRRBX hold 0 of the same securities. The ten contributing most to the overlap figure:
| Holding | in JEPI | in TRRBX | Δ |
|---|
Where JEPI and TRRBX 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 | TRRBX | Δ |
|---|---|---|---|
| Unclassified | 19.6% | 99.9% | −80.3pp |
| Information Technology | 13.5% | 0.0% | +13.5pp |
| Health Care | 11.6% | 0.0% | +11.6pp |
| Consumer Discretionary | 10.2% | 0.0% | +10.2pp |
| Industrials | 8.9% | 0.0% | +8.9pp |
| Financials | 8.5% | 0.0% | +8.5pp |
| Consumer Staples | 7.8% | 0.0% | +7.8pp |
| Utilities | 5.4% | 0.0% | +5.4pp |
Δ is JEPI minus TRRBX, 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
99.6% of JEPI by weight, held in no part of TRRBX.
99.9% of TRRBX 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 | TRRBX | |
|---|---|---|
| Top 10 holdings | 15.7% | 69.2% |
| Positions held | 120 | 31 |
| Cost per $10,000 held, per year | $35 | $53 |
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 TRRBX overlap?
JEPI and TRRBX overlap 0.0% by portfolio weight — largely distinct portfolios. They share 0 holdings. The figure comes from current issuer holdings files (JEPI as of 2026-03-31, TRRBX as of 2026-02-28).
How is the overlap between JEPI and TRRBX 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 TRRBX 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 TRRBX?
That depends on your goals — we state facts, not advice. At 0.0% overlap, each fund still contributes meaningfully distinct exposure.
What does JEPI own that TRRBX doesn't?
JEPI holds 120 positions and TRRBX holds 31; 120 of JEPI's positions don't appear in TRRBX at all, and they are 99.6% of JEPI by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, JEPI as of 2026-03-31, TRRBX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.