JEPI vs VTV: how much do they really overlap?
JEPI (JPMorgan Equity Premium Income ETF, tracking the S&P 500 (active)) and VTV (Vanguard Value ETF, tracking the CRSP US Large Cap Value) overlap by roughly 19% by weight. 4 of JEPI's top 10 holdings also appear in VTV. A 50/50 blend of the two behaves like about 247 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 7 holdings appear in both JEPI and VTV. The weight columns show how much of each fund each name represents.
| Holding | in JEPI | in VTV |
|---|---|---|
| JNJ Johnson & Johnson | 1.69% | 2.07% |
| ABBV AbbVie Inc. | 1.74% | 1.47% |
| PM Philip Morris International Inc. | 1.36% | 1.05% |
| RTX RTX Corporation | 1.40% | 0.92% |
| NEE NextEra Energy, Inc. | 1.50% | 0.66% |
| ETN Eaton Corporation plc | 1.56% | 0.59% |
| AXP American Express Company | 1.40% | 0.58% |
Only in JEPI
JPMorgan Equity Premium Income ETF — US large-cap covered-call income. Its biggest holdings that VTV doesn’t have:
| HWM Howmet Aerospace Inc. | 1.68% |
| TT Trane Technologies plc | 1.57% |
| GOOGL Alphabet Inc. | 1.49% |
| ROST Ross Stores, Inc. | 1.48% |
| LRCX Lam Research Corporation | 1.48% |
| NVDA NVIDIA Corporation | 1.48% |
| AAPL Apple Inc. | 1.48% |
| AMZN Amazon.com, Inc. | 1.48% |
Only in VTV
Vanguard Value ETF — US large-cap value. Its biggest holdings that JEPI doesn’t have:
| MU Micron Technology Inc. | 4.17% |
| JPM JPMorgan Chase & Co. | 2.88% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.82% |
| XOM Exxon Mobil Corp. | 2.31% |
| WMT Walmart Inc. | 1.93% |
| INTC Intel Corp. | 1.75% |
| CSCO Cisco Systems Inc. | 1.63% |
| CAT Caterpillar Inc. | 1.55% |
So — mostly different. Should you hold both?
JEPI and VTV 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 ~247 effective positions (grade A), because they hold largely different securities.
Holdings as of — JEPI: Jun 29, 2026 (J.P. Morgan Asset Management); VTV: 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 VTV — FAQ
- How much do JEPI and VTV overlap?
- JEPI and VTV overlap by approximately 19% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of JEPI's 10 largest holdings are also held by VTV. They share 7 of their listed top holdings in total.
- Is it redundant to hold both JEPI and VTV?
- 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 247 positions and a A diversification grade.
- What does VTV hold that JEPI doesn't?
- VTV's largest holdings that JEPI doesn't hold include MU, JPM, BRK.B, XOM, WMT. Its category is US large-cap value, versus JEPI's US large-cap covered-call income.
- Which is more concentrated, JEPI or VTV?
- JEPI's top 10 holdings are 43% of its listed weight; VTV's are 41%. The more concentrated fund leans harder on its largest names.