JEPI vs VT: how much do they really overlap?
JEPI (JPMorgan Equity Premium Income ETF, tracking the S&P 500 (active)) and VT (Vanguard Total World Stock ETF, tracking the FTSE Global All Cap) overlap by roughly 26% by weight. 5 of JEPI's top 10 holdings also appear in VT. A 50/50 blend of the two behaves like about 241 equally-weighted bets (diversification grade A). In short, the two funds share a meaningful core of the same megacaps, but each also brings real exposure the other lacks.
The same companies, in both funds
These 11 holdings appear in both JEPI and VT. The weight columns show how much of each fund each name represents.
| Holding | in JEPI | in VT |
|---|---|---|
| GOOGL Alphabet Inc. | 1.49% | 1.89% |
| NVDA NVIDIA Corporation | 1.48% | 4.17% |
| AAPL Apple Inc. | 1.48% | 3.79% |
| AMZN Amazon.com, Inc. | 1.48% | 2.19% |
| AVGO Broadcom Inc. | 1.30% | 1.74% |
| JNJ Johnson & Johnson | 1.69% | 0.46% |
| V Visa Inc. | 1.40% | 0.46% |
| LRCX Lam Research Corporation | 1.48% | 0.34% |
| ABBV AbbVie Inc. | 1.74% | 0.33% |
| MA Mastercard Incorporated | 1.32% | 0.33% |
| PM Philip Morris International Inc. | 1.36% | 0.23% |
Only in JEPI
JPMorgan Equity Premium Income ETF — US large-cap covered-call income. Its biggest holdings that VT doesn’t have:
| HWM Howmet Aerospace Inc. | 1.68% |
| TT Trane Technologies plc | 1.57% |
| ETN Eaton Corporation plc | 1.56% |
| NEE NextEra Energy, Inc. | 1.50% |
| ROST Ross Stores, Inc. | 1.48% |
| VRTX Vertex Pharmaceuticals Incorporated | 1.47% |
| EOG EOG Resources, Inc. | 1.47% |
| MMM 3M Company | 1.42% |
Only in VT
Vanguard Total World Stock ETF — global all-cap. Its biggest holdings that JEPI doesn’t have:
| MSFT Microsoft Corp. | 2.82% |
| 2330 Taiwan Semiconductor Manufacturing Co. Ltd. | 1.52% |
| GOOG Alphabet Inc. Class C | 1.48% |
| META Facebook Inc. Class A | 1.16% |
| TSLA Tesla Inc. | 1.04% |
| MU Micron Technology Inc. | 0.91% |
| 005930 Samsung Electronics Co. Ltd. | 0.83% |
| LLY Eli Lilly & Co. | 0.75% |
So — partly overlapping. Should you hold both?
JEPI and VT share a meaningful core of the same megacaps, but each also brings real exposure the other lacks. Held together they keep a shared megacap core but each still pulls in exposure the other lacks, so a 50/50 blend spreads to ~241 effective positions (grade A).
Holdings as of — JEPI: Jun 29, 2026 (J.P. Morgan Asset Management); VT: 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 VT — FAQ
- How much do JEPI and VT overlap?
- JEPI and VT overlap by approximately 26% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 5 of JEPI's 10 largest holdings are also held by VT. They share 11 of their listed top holdings in total.
- Is it redundant to hold both JEPI and VT?
- Because they share a meaningful core of the same megacaps, but each also brings real exposure the other lacks, holding both is partly redundant: you double up on a shared core (GOOGL) while each fund still adds distinct exposure. A 50/50 blend has an effective 241 positions and a A diversification grade.
- What does VT hold that JEPI doesn't?
- VT's largest holdings that JEPI doesn't hold include MSFT, 2330, GOOG, META, TSLA. Its category is global all-cap, versus JEPI's US large-cap covered-call income.
- Which is more concentrated, JEPI or VT?
- JEPI's top 10 holdings are 43% of its listed weight; VT's are 58%. The more concentrated fund leans harder on its largest names.