JEPQ vs VTV: 15% overlap
JPMorgan Nasdaq Equity Premium Income ETF and Vanguard Value ETF share 14.9% 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 3 months apart — JEPQ as of 2026-03-31, the rest through 2026-06-30. 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
JEPQ and VTV hold 41 of the same securities. The ten contributing most to the overlap figure:
| Holding | in JEPQ | in VTV | Δ |
|---|---|---|---|
| MU | 2.0% | 4.9% | 2.8% |
| WMT | 2.5% | 1.9% | 0.6% |
| CSCO | 1.1% | 1.6% | 0.4% |
| ADI | 1.1% | 0.7% | 0.4% |
| PEP | 1.0% | 0.7% | 0.3% |
| INTC | 0.6% | 1.1% | 0.4% |
| QCOM | 0.5% | 0.7% | 0.2% |
| TXN | 0.7% | 0.5% | 0.2% |
| CASH | 1.8% | 0.4% | 1.4% |
| AMGN | 0.4% | 0.7% | 0.3% |
Where JEPQ and VTV 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 | VTV | Δ |
|---|---|---|---|
| Information Technology | 37.9% | 14.1% | +23.9pp |
| Unclassified | 22.3% | 0.5% | +21.8pp |
| Financials | 0.5% | 22.1% | −21.5pp |
| Industrials | 1.7% | 15.0% | −13.3pp |
| Health Care | 4.2% | 15.1% | −10.9pp |
| Communication Services | 12.0% | 2.9% | +9.1pp |
| Energy | 0.4% | 6.8% | −6.5pp |
| Consumer Discretionary | 10.0% | 3.9% | +6.0pp |
Δ is JEPQ minus VTV, 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
77.2% of JEPQ by weight, held in no part of VTV.
74.7% of VTV 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 | VTV | |
|---|---|---|
| Top 10 holdings | 40.0% | 23.6% |
| Positions held | 108 | 309 |
| Cost per $10,000 held, per year | $35 | $3 |
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 VTV overlap?
JEPQ and VTV overlap 14.9% by portfolio weight — largely distinct portfolios. They share 41 holdings. The figure comes from current issuer holdings files (JEPQ as of 2026-03-31, VTV as of 2026-06-30).
How is the overlap between JEPQ and VTV 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 VTV 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 VTV?
That depends on your goals — we state facts, not advice. At 14.9% overlap, each fund still contributes meaningfully distinct exposure.
What does JEPQ own that VTV doesn't?
JEPQ holds 108 positions and VTV holds 309; 67 of JEPQ's positions don't appear in VTV at all, and they are 77.2% of JEPQ by weight.
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Related comparisons
Sources: issuer holdings files, JEPQ as of 2026-03-31, VTV as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.