JEPQ vs SWISX: 1% overlap
JPMorgan Nasdaq Equity Premium Income ETF and Schwab International Index share 0.6% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
JEPQ and SWISX hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in JEPQ | in SWISX | Δ |
|---|---|---|---|
| CASH | 1.8% | 0.6% | 1.2% |
Where JEPQ and SWISX 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 | JEPQ | SWISX | Δ |
|---|---|---|---|
| Unclassified | 22.3% | 99.1% | −76.8pp |
| Information Technology | 37.9% | 0.0% | +37.9pp |
| Communication Services | 12.0% | 0.0% | +12.0pp |
| Consumer Discretionary | 10.0% | 0.0% | +10.0pp |
| Consumer Staples | 6.3% | 0.0% | +6.3pp |
| Health Care | 4.2% | 0.0% | +4.2pp |
| Industrials | 1.7% | 0.0% | +1.7pp |
| Cash and/or Derivatives | 1.8% | 0.6% | +1.2pp |
Δ is JEPQ minus SWISX, 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
96.6% of JEPQ by weight, held in no part of SWISX.
99.1% of SWISX by weight, held in no part of JEPQ.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| JEPQ | SWISX | |
|---|---|---|
| Top 10 holdings | 40.0% | 13.3% |
| Positions held | 108 | 694 |
| Cost per $10,000 held, per year | $35 | $6 |
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 JEPQ and SWISX overlap?
JEPQ and SWISX overlap 0.6% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (JEPQ as of 2026-03-31, SWISX as of 2026-04-30).
How is the overlap between JEPQ and SWISX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If JEPQ holds a stock at 6% and SWISX 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 JEPQ and SWISX?
That depends on your goals — we state facts, not advice. At 0.6% overlap, each fund still contributes meaningfully distinct exposure.
What does JEPQ own that SWISX doesn't?
JEPQ holds 108 positions and SWISX holds 694; 107 of JEPQ's positions don't appear in SWISX at all, and they are 96.6% of JEPQ by weight.
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Related comparisons
Sources: issuer holdings files, JEPQ as of 2026-03-31, SWISX as of 2026-04-30. Weights are fractions of each fund. Diagnostics, not advice.