JEPI vs VTI: how much do they really overlap?
JEPI (JPMorgan Equity Premium Income ETF, tracking the S&P 500 (active)) and VTI (Vanguard Total Stock Market ETF, tracking the CRSP US Total Market) overlap by roughly 30% by weight. 5 of JEPI's top 10 holdings also appear in VTI. A 50/50 blend of the two behaves like about 135 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 12 holdings appear in both JEPI and VTI. The weight columns show how much of each fund each name represents.
| Holding | in JEPI | in VTI |
|---|---|---|
| GOOGL Alphabet Inc. | 1.49% | 3.05% |
| NVDA NVIDIA Corporation | 1.48% | 6.70% |
| AAPL Apple Inc. | 1.48% | 6.30% |
| AMZN Amazon.com, Inc. | 1.48% | 3.60% |
| AVGO Broadcom Inc. | 1.30% | 2.91% |
| JNJ Johnson & Johnson | 1.69% | 0.75% |
| V Visa Inc. | 1.40% | 0.74% |
| LRCX Lam Research Corporation | 1.48% | 0.55% |
| MA Mastercard Incorporated | 1.32% | 0.54% |
| ABBV AbbVie Inc. | 1.74% | 0.53% |
| PM Philip Morris International Inc. | 1.36% | 0.38% |
| RTX RTX Corporation | 1.40% | 0.33% |
Only in JEPI
JPMorgan Equity Premium Income ETF — US large-cap covered-call income. Its biggest holdings that VTI 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 VTI
Vanguard Total Stock Market ETF — total US market. Its biggest holdings that JEPI doesn’t have:
| MSFT Microsoft Corp. | 4.60% |
| GOOG Alphabet Inc. Class C | 2.39% |
| META Facebook Inc. Class A | 1.90% |
| TSLA Tesla Inc. | 1.69% |
| MU Micron Technology Inc. | 1.50% |
| LLY Eli Lilly & Co. | 1.29% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.17% |
| AMD Advanced Micro Devices Inc. | 1.16% |
So — partly overlapping. Should you hold both?
JEPI and VTI 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 ~135 effective positions (grade A).
Holdings as of — JEPI: Jun 29, 2026 (J.P. Morgan Asset Management); VTI: 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 VTI — FAQ
- How much do JEPI and VTI overlap?
- JEPI and VTI overlap by approximately 30% 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 VTI. They share 12 of their listed top holdings in total.
- Is it redundant to hold both JEPI and VTI?
- 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 135 positions and a A diversification grade.
- What does VTI hold that JEPI doesn't?
- VTI's largest holdings that JEPI doesn't hold include MSFT, GOOG, META, TSLA, MU. Its category is total US market, versus JEPI's US large-cap covered-call income.
- Which is more concentrated, JEPI or VTI?
- JEPI's top 10 holdings are 43% of its listed weight; VTI's are 61%. The more concentrated fund leans harder on its largest names.