JEPQ vs VGT: how much do they really overlap?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF, tracking the Nasdaq-100 (active)) and VGT (Vanguard Information Technology ETF, tracking the MSCI US IMI Info Tech 25/50) overlap by roughly 63% by weight. 6 of JEPQ's top 10 holdings also appear in VGT. A 50/50 blend of the two behaves like about 28 equally-weighted bets (diversification grade C). In short, the two funds share most of their weight in the same names; the second fund adds only modest differentiation.
The same companies, in both funds
These 13 holdings appear in both JEPQ and VGT. The weight columns show how much of each fund each name represents.
| Holding | in JEPQ | in VGT |
|---|---|---|
| NVDA NVIDIA Corporation | 6.66% | 16.10% |
| AAPL Apple Inc. | 5.80% | 14.33% |
| MU Micron Technology, Inc. | 5.56% | 5.04% |
| MSFT Microsoft Corporation | 3.88% | 8.28% |
| AMD Advanced Micro Devices, Inc. | 3.85% | 3.65% |
| AVGO Broadcom Inc. | 2.15% | 3.84% |
| LRCX Lam Research Corporation | 2.88% | 2.14% |
| INTC Intel Corporation | 1.61% | 2.41% |
| CSCO Cisco Systems, Inc. | 1.34% | 1.82% |
| AMAT Applied Materials, Inc. | 1.31% | 2.26% |
| PANW Palo Alto Networks, Inc. | 1.19% | 1.12% |
| MRVL Marvell Technology, Inc. | 1.37% | 1.05% |
| STX Seagate Technology Holdings plc | 1.92% | 0.87% |
Only in JEPQ
JPMorgan Nasdaq Equity Premium Income ETF — Nasdaq covered-call income. Its biggest holdings that VGT doesn’t have:
| GOOG Alphabet Inc. | 5.03% |
| AMZN Amazon.com, Inc. | 3.66% |
| TSLA Tesla, Inc. | 2.38% |
| META Meta Platforms, Inc. | 2.37% |
| WMT Walmart Inc. | 1.78% |
| NFLX Netflix, Inc. | 1.21% |
| COST Costco Wholesale Corporation | 1.16% |
| ASML ASML Holding N.V. | 1.13% |
Only in VGT
Vanguard Information Technology ETF — US tech sector. Its biggest holdings that JEPQ doesn’t have:
| KLAC KLA Corp. | 1.59% |
| SNDK Sandisk Corp. | 1.33% |
| TXN Texas Instruments Inc. | 1.09% |
| IBM International Business Machines Corp. | 1.03% |
| PLTR Palantir Technologies Inc. Class A | 1.01% |
| ORCL Oracle Corp. | 0.95% |
| WDC Western Digital Corp. | 0.91% |
| APH Amphenol Corp. Class A | 0.87% |
So — heavily overlapping. Should you hold both?
JEPQ and VGT share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold JEPQ, adding VGT mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~28 equal positions, with the top 10 alone at 48% and the Magnificent Seven at 34%.
Holdings as of — JEPQ: Jun 30, 2026 (J.P. Morgan Asset Management); VGT: 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 VGT — FAQ
- How much do JEPQ and VGT overlap?
- JEPQ and VGT overlap by approximately 63% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 6 of JEPQ's 10 largest holdings are also held by VGT. They share 13 of their listed top holdings in total.
- Is it redundant to hold both JEPQ and VGT?
- Because they share most of their weight in the same names; the second fund adds only modest differentiation, holding both is largely redundant — you mostly duplicate the same megacaps and concentrate rather than diversify. A 50/50 blend has an effective 28 positions and a C diversification grade.
- What does VGT hold that JEPQ doesn't?
- VGT's largest holdings that JEPQ doesn't hold include KLAC, SNDK, TXN, IBM, PLTR. Its category is US tech sector, versus JEPQ's Nasdaq covered-call income.
- Which is more concentrated, JEPQ or VGT?
- JEPQ's top 10 holdings are 72% of its listed weight; VGT's are 71%. The more concentrated fund leans harder on its largest names.