JEPI vs VGT: how much do they really overlap?
JEPI (JPMorgan Equity Premium Income ETF, tracking the S&P 500 (active)) and VGT (Vanguard Information Technology ETF, tracking the MSCI US IMI Info Tech 25/50) overlap by roughly 17% by weight. 2 of JEPI's top 10 holdings also appear in VGT. A 50/50 blend of the two behaves like about 47 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 5 holdings appear in both JEPI and VGT. The weight columns show how much of each fund each name represents.
| Holding | in JEPI | in VGT |
|---|---|---|
| LRCX Lam Research Corporation | 1.48% | 1.55% |
| NVDA NVIDIA Corporation | 1.48% | 16.78% |
| AAPL Apple Inc. | 1.48% | 15.26% |
| AVGO Broadcom Inc. | 1.30% | 4.49% |
| CDNS Cadence Design Systems, Inc. | 1.28% | 0.44% |
Only in JEPI
JPMorgan Equity Premium Income ETF — US large-cap covered-call income. Its biggest holdings that VGT 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 VGT
Vanguard Information Technology ETF — US tech sector. Its biggest holdings that JEPI doesn’t have:
| MSFT Microsoft Corp. | 9.87% |
| MU Micron Technology Inc. | 4.19% |
| AMD Advanced Micro Devices Inc. | 3.20% |
| INTC Intel Corp. | 1.95% |
| CSCO Cisco Systems Inc. | 1.85% |
| ORCL Oracle Corp. | 1.45% |
| AMAT Applied Materials Inc. | 1.39% |
| PLTR Palantir Technologies Inc. Class A | 1.34% |
So — mostly different. Should you hold both?
JEPI and VGT 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 ~47 effective positions (grade B), because they hold largely different securities.
Holdings as of — JEPI: Jun 29, 2026 (J.P. Morgan Asset Management); VGT: May 31, 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 VGT — FAQ
- How much do JEPI and VGT overlap?
- JEPI and VGT overlap by approximately 17% 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 VGT. They share 5 of their listed top holdings in total.
- Is it redundant to hold both JEPI and VGT?
- 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 47 positions and a B diversification grade.
- What does VGT hold that JEPI doesn't?
- VGT's largest holdings that JEPI doesn't hold include MSFT, MU, AMD, INTC, CSCO. Its category is US tech sector, versus JEPI's US large-cap covered-call income.
- Which is more concentrated, JEPI or VGT?
- JEPI's top 10 holdings are 43% of its listed weight; VGT's are 72%. The more concentrated fund leans harder on its largest names.