JEPI vs SOXX: how much do they really overlap?
JEPI (JPMorgan Equity Premium Income ETF, tracking the S&P 500 (active)) and SOXX (iShares Semiconductor ETF, tracking the NYSE Semiconductor) overlap by roughly 12% by weight. 2 of JEPI's top 10 holdings also appear in SOXX. A 50/50 blend of the two behaves like about 65 equally-weighted bets (diversification grade A). 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 3 holdings appear in both JEPI and SOXX. The weight columns show how much of each fund each name represents.
| Holding | in JEPI | in SOXX |
|---|---|---|
| LRCX Lam Research Corporation | 1.48% | 4.27% |
| NVDA NVIDIA Corporation | 1.48% | 8.42% |
| AVGO Broadcom Inc. | 1.30% | 7.91% |
Only in JEPI
JPMorgan Equity Premium Income ETF — US large-cap covered-call income. Its biggest holdings that SOXX 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% |
Only in SOXX
iShares Semiconductor ETF — semiconductors. Its biggest holdings that JEPI doesn’t have:
| AMD ADVANCED MICRO DEVICES INC | 8.57% |
| MU MICRON TECHNOLOGY INC | 8.21% |
| INTC INTEL CORPORATION | 5.24% |
| AMAT APPLIED MATERIAL INC | 5.08% |
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING | 4.57% |
| KLAC KLA CORP | 4.28% |
| TXN TEXAS INSTRUMENT INC | 4.16% |
| MRVL MARVELL TECHNOLOGY INC | 4.08% |
So — mostly different. Should you hold both?
JEPI and SOXX 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 ~65 effective positions (grade A), because they hold largely different securities.
Holdings as of — JEPI: Jun 29, 2026 (J.P. Morgan Asset Management); SOXX: Jul 30, 2026 (iShares (BlackRock)). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 33); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →JEPI vs SOXX — FAQ
- How much do JEPI and SOXX overlap?
- JEPI and SOXX overlap by approximately 12% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 2 of JEPI's 10 largest holdings are also held by SOXX. They share 3 of their listed top holdings in total.
- Is it redundant to hold both JEPI and SOXX?
- 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 65 positions and a A diversification grade.
- What does SOXX hold that JEPI doesn't?
- SOXX's largest holdings that JEPI doesn't hold include AMD, MU, INTC, AMAT, TSM. Its category is semiconductors, versus JEPI's US large-cap covered-call income.
- Which is more concentrated, JEPI or SOXX?
- JEPI's top 10 holdings are 43% of its listed weight; SOXX's are 61%. The more concentrated fund leans harder on its largest names.