JEPQ vs SOXX: how much do they really overlap?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF, tracking the Nasdaq-100 (active)) and SOXX (iShares Semiconductor ETF, tracking the NYSE Semiconductor) overlap by roughly 46% by weight. 4 of JEPQ's top 10 holdings also appear in SOXX. A 50/50 blend of the two behaves like about 38 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 SOXX. The weight columns show how much of each fund each name represents.
| Holding | in JEPQ | in SOXX |
|---|---|---|
| NVDA NVIDIA Corporation | 6.66% | 6.81% |
| MU Micron Technology, Inc. | 5.56% | 8.54% |
| AMD Advanced Micro Devices, Inc. | 3.85% | 8.09% |
| LRCX Lam Research Corporation | 2.88% | 4.89% |
| AVGO Broadcom Inc. | 2.15% | 6.08% |
| INTC Intel Corporation | 1.61% | 6.33% |
| MRVL Marvell Technology, Inc. | 1.37% | 4.88% |
| AMAT Applied Materials, Inc. | 1.31% | 5.77% |
| ASML ASML Holding N.V. | 1.13% | 2.30% |
Only in JEPQ
JPMorgan Nasdaq Equity Premium Income ETF — Nasdaq covered-call income. Its biggest holdings that SOXX 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 SOXX
iShares Semiconductor ETF — semiconductors. Its biggest holdings that JEPQ doesn’t have:
| KLAC KLA CORP | 5.64% |
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING | 4.26% |
| TXN TEXAS INSTRUMENT INC | 3.50% |
| ADI ANALOG DEVICES INC | 3.45% |
| TER TERADYNE INC | 3.36% |
| NXPI NXP SEMICONDUCTORS NV | 3.14% |
| ALAB ASTERA LABS INC | 3.02% |
| MPWR MONOLITHIC POWER SYSTEMS INC | 2.93% |
So — partly overlapping. Should you hold both?
JEPQ and SOXX 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 ~38 effective positions (grade B).
Holdings as of — JEPQ: Jun 30, 2026 (J.P. Morgan Asset Management); SOXX: Jun 30, 2026 (iShares (BlackRock)). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 33); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →JEPQ vs SOXX — FAQ
- How much do JEPQ and SOXX overlap?
- JEPQ and SOXX 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 SOXX. They share 9 of their listed top holdings in total.
- Is it redundant to hold both JEPQ and SOXX?
- 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 38 positions and a B diversification grade.
- What does SOXX hold that JEPQ doesn't?
- SOXX's largest holdings that JEPQ doesn't hold include KLAC, TSM, TXN, ADI, TER. Its category is semiconductors, versus JEPQ's Nasdaq covered-call income.
- Which is more concentrated, JEPQ or SOXX?
- JEPQ's top 10 holdings are 72% of its listed weight; SOXX's are 61%. The more concentrated fund leans harder on its largest names.