JEPQ vs VB: how much do they really overlap?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF, tracking the Nasdaq-100 (active)) and VB (Vanguard Small-Cap ETF, tracking the CRSP US Small Cap) overlap by roughly 0% by weight. 0 of JEPQ's top 10 holdings also appear in VB. A 50/50 blend of the two behaves like about 176 equally-weighted bets (diversification grade A). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 0 holdings appear in both JEPQ and VB. The weight columns show how much of each fund each name represents.
| Holding | in JEPQ | in VB |
|---|
Only in JEPQ
JPMorgan Nasdaq Equity Premium Income ETF — Nasdaq covered-call income. Its biggest holdings that VB doesn’t have:
| NVDA NVIDIA Corporation | 6.66% |
| AAPL Apple Inc. | 5.80% |
| MU Micron Technology, Inc. | 5.56% |
| GOOG Alphabet Inc. | 5.03% |
| MSFT Microsoft Corporation | 3.88% |
| AMD Advanced Micro Devices, Inc. | 3.85% |
| AMZN Amazon.com, Inc. | 3.66% |
| LRCX Lam Research Corporation | 2.88% |
Only in VB
Vanguard Small-Cap ETF — US small-cap. Its biggest holdings that JEPQ doesn’t have:
| CRDO Credo Technology Group Holding Ltd. | 0.54% |
| JBL Jabil Inc. | 0.49% |
| RVMD Revolution Medicines Inc. | 0.45% |
| ALAB Astera Labs Inc. | 0.45% |
| NTRA Natera Inc. | 0.44% |
| EME EMCOR Group Inc. | 0.44% |
| TWLO Twilio Inc. Class A | 0.37% |
| NRG NRG Energy Inc. | 0.37% |
So — essentially different. Should you hold both?
JEPQ and VB hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~176 effective positions (grade A), because they hold largely different securities.
Holdings as of — JEPQ: Jun 30, 2026 (J.P. Morgan Asset Management); VB: Jun 30, 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 →JEPQ vs VB — FAQ
- How much do JEPQ and VB overlap?
- JEPQ and VB overlap by approximately 0% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of JEPQ's 10 largest holdings are also held by VB. They share 0 of their listed top holdings in total.
- Is it redundant to hold both JEPQ and VB?
- Because they hold almost none of the same securities — they are complementary, not redundant, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 176 positions and a A diversification grade.
- What does VB hold that JEPQ doesn't?
- VB's largest holdings that JEPQ doesn't hold include CRDO, JBL, RVMD, ALAB, NTRA. Its category is US small-cap, versus JEPQ's Nasdaq covered-call income.
- Which is more concentrated, JEPQ or VB?
- JEPQ's top 10 holdings are 72% of its listed weight; VB's are 27%. The more concentrated fund leans harder on its largest names.