JEPI vs VB: how much do they really overlap?
JEPI (JPMorgan Equity Premium Income ETF, tracking the S&P 500 (active)) and VB (Vanguard Small-Cap ETF, tracking the CRSP US Small Cap) overlap by roughly 0% by weight. 0 of JEPI's top 10 holdings also appear in VB. A 50/50 blend of the two behaves like about 683 equally-weighted bets (diversification grade A). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 0 holdings appear in both JEPI and VB. The weight columns show how much of each fund each name represents.
| Holding | in JEPI | in VB |
|---|
Only in JEPI
JPMorgan Equity Premium Income ETF — US large-cap covered-call income. Its biggest holdings that VB 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 VB
Vanguard Small-Cap ETF — US small-cap. Its biggest holdings that JEPI doesn’t have:
| CRDO Credo Technology Group Holding Ltd. | 0.54% |
| JBL Jabil Inc. | 0.49% |
| RVMD Revolution Medicines Inc. | 0.45% |
| ALAB Astera Labs Inc. | 0.45% |
| NTRA Natera Inc. | 0.44% |
| EME EMCOR Group Inc. | 0.44% |
| TWLO Twilio Inc. Class A | 0.37% |
| NRG NRG Energy Inc. | 0.37% |
So — essentially different. Should you hold both?
JEPI and VB hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~683 effective positions (grade A), because they hold largely different securities.
Holdings as of — JEPI: Jun 29, 2026 (J.P. Morgan Asset Management); VB: Jun 30, 2026 (Vanguard). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 50); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →JEPI vs VB — FAQ
- How much do JEPI and VB overlap?
- JEPI and VB overlap by approximately 0% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of JEPI's 10 largest holdings are also held by VB. They share 0 of their listed top holdings in total.
- Is it redundant to hold both JEPI and VB?
- Because they hold almost none of the same securities — they are complementary, not redundant, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 683 positions and a A diversification grade.
- What does VB hold that JEPI doesn't?
- VB's largest holdings that JEPI doesn't hold include CRDO, JBL, RVMD, ALAB, NTRA. Its category is US small-cap, versus JEPI's US large-cap covered-call income.
- Which is more concentrated, JEPI or VB?
- JEPI's top 10 holdings are 43% of its listed weight; VB's are 27%. The more concentrated fund leans harder on its largest names.