JEPQ vs SOXQ: how much do they really overlap?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF, tracking the Nasdaq-100 (active)) and SOXQ (Invesco PHLX Semiconductor ETF, tracking the PHLX Semiconductor) overlap by roughly 46% by weight. 4 of JEPQ's top 10 holdings also appear in SOXQ. A 50/50 blend of the two behaves like about 36 equally-weighted bets (diversification grade B). 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 9 holdings appear in both JEPQ and SOXQ. The weight columns show how much of each fund each name represents.
| Holding | in JEPQ | in SOXQ |
|---|---|---|
| NVDA NVIDIA Corporation | 6.66% | 10.47% |
| MU Micron Technology, Inc. | 5.56% | 8.91% |
| AMD Advanced Micro Devices, Inc. | 3.85% | 3.95% |
| LRCX Lam Research Corporation | 2.88% | 4.88% |
| AVGO Broadcom Inc. | 2.15% | 7.87% |
| INTC Intel Corporation | 1.61% | 4.34% |
| MRVL Marvell Technology, Inc. | 1.37% | 5.12% |
| AMAT Applied Materials, Inc. | 1.31% | 5.83% |
| ASML ASML Holding N.V. | 1.13% | 4.41% |
Only in JEPQ
JPMorgan Nasdaq Equity Premium Income ETF — Nasdaq covered-call income. Its biggest holdings that SOXQ doesn’t have:
| AAPL Apple Inc. | 5.80% |
| GOOG Alphabet Inc. | 5.03% |
| MSFT Microsoft Corporation | 3.88% |
| AMZN Amazon.com, Inc. | 3.66% |
| TSLA Tesla, Inc. | 2.38% |
| META Meta Platforms, Inc. | 2.37% |
| STX Seagate Technology Holdings plc | 1.92% |
| WMT Walmart Inc. | 1.78% |
Only in SOXQ
Invesco PHLX Semiconductor ETF — semiconductors. Its biggest holdings that JEPQ doesn’t have:
| KLAC KLA Corporation | 5.47% |
| TSM Taiwan Semiconductor Manufacturing Company Limited | 4.11% |
| ADI Analog Devices, Inc. | 3.58% |
| TXN Texas Instruments Incorporated | 3.53% |
| QCOM QUALCOMM Incorporated | 2.84% |
| ALAB Astera Labs, Inc. | 2.81% |
| COHR Coherent Corp. | 2.75% |
| TER Teradyne, Inc. | 2.60% |
So — partly overlapping. Should you hold both?
JEPQ and SOXQ 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 ~36 effective positions (grade B).
Holdings as of — JEPQ: Jun 30, 2026 (J.P. Morgan Asset Management); SOXQ: Jun 29, 2026 (Invesco). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 25); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →JEPQ vs SOXQ — FAQ
- How much do JEPQ and SOXQ overlap?
- JEPQ and SOXQ overlap by approximately 46% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of JEPQ's 10 largest holdings are also held by SOXQ. They share 9 of their listed top holdings in total.
- Is it redundant to hold both JEPQ and SOXQ?
- 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 (NVDA) while each fund still adds distinct exposure. A 50/50 blend has an effective 36 positions and a B diversification grade.
- What does SOXQ hold that JEPQ doesn't?
- SOXQ's largest holdings that JEPQ doesn't hold include KLAC, TSM, ADI, TXN, QCOM. Its category is semiconductors, versus JEPQ's Nasdaq covered-call income.
- Which is more concentrated, JEPQ or SOXQ?
- JEPQ's top 10 holdings are 72% of its listed weight; SOXQ's are 63%. The more concentrated fund leans harder on its largest names.