FTEC vs JEPI: how much do they really overlap?
FTEC (Fidelity MSCI Information Technology Index ETF, tracking the MSCI US IMI Info Tech 25/50) and JEPI (JPMorgan Equity Premium Income ETF, tracking the S&P 500 (active)) overlap by roughly 16% by weight. 4 of FTEC's top 10 holdings also appear in JEPI. A 50/50 blend of the two behaves like about 50 equally-weighted bets (diversification grade B). In short, the two funds have only a small shared core — they mostly hold different things and are largely complementary.
The same companies, in both funds
These 4 holdings appear in both FTEC and JEPI. The weight columns show how much of each fund each name represents.
| Holding | in FTEC | in JEPI |
|---|---|---|
| NVDA NVIDIA Corporation | 16.20% | 1.48% |
| AAPL Apple Inc. | 14.71% | 1.48% |
| LRCX Lam Research Corporation | 1.97% | 1.48% |
| AVGO Broadcom Inc. | 3.89% | 1.30% |
Only in FTEC
Fidelity MSCI Information Technology Index ETF — US tech sector. Its biggest holdings that JEPI doesn’t have:
| MSFT Microsoft Corporation | 8.67% |
| MU Micron Technology, Inc. | 5.19% |
| AMD Advanced Micro Devices, Inc. | 3.44% |
| INTC Intel Corporation | 2.32% |
| AMAT Applied Materials, Inc. | 2.06% |
| CSCO Cisco Systems, Inc. | 1.85% |
| KLAC KLA Corporation | 1.38% |
| SNDK Sandisk Corporation | 1.29% |
Only in JEPI
JPMorgan Equity Premium Income ETF — US large-cap covered-call income. Its biggest holdings that FTEC doesn’t have:
| ABBV AbbVie Inc. | 1.74% |
| JNJ Johnson & Johnson | 1.69% |
| HWM Howmet Aerospace Inc. | 1.68% |
| TT Trane Technologies plc | 1.57% |
| ETN Eaton Corporation plc | 1.56% |
| NEE NextEra Energy, Inc. | 1.50% |
| GOOGL Alphabet Inc. | 1.49% |
| ROST Ross Stores, Inc. | 1.48% |
So — mostly different. Should you hold both?
FTEC and JEPI have only a small shared core — they mostly hold different things and are largely complementary. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~50 effective positions (grade B), because they hold largely different securities.
Holdings as of — FTEC: Jun 27, 2026 (Fidelity); JEPI: Jun 29, 2026 (J.P. Morgan Asset Management). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 25); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →FTEC vs JEPI — FAQ
- How much do FTEC and JEPI overlap?
- FTEC and JEPI overlap by approximately 16% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of FTEC's 10 largest holdings are also held by JEPI. They share 4 of their listed top holdings in total.
- Is it redundant to hold both FTEC and JEPI?
- Because they have only a small shared core — they mostly hold different things and are largely complementary, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 50 positions and a B diversification grade.
- What does JEPI hold that FTEC doesn't?
- JEPI's largest holdings that FTEC doesn't hold include ABBV, JNJ, HWM, TT, ETN. Its category is US large-cap covered-call income, versus FTEC's US tech sector.
- Which is more concentrated, FTEC or JEPI?
- FTEC's top 10 holdings are 80% of its listed weight; JEPI's are 43%. The more concentrated fund leans harder on its largest names.