JEPQ vs VT: how much do they really overlap?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF, tracking the Nasdaq-100 (active)) and VT (Vanguard Total World Stock ETF, tracking the FTSE Global All Cap) overlap by roughly 60% by weight. 10 of JEPQ's top 10 holdings also appear in VT. A 50/50 blend of the two behaves like about 85 equally-weighted bets (diversification grade A). 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 19 holdings appear in both JEPQ and VT. The weight columns show how much of each fund each name represents.
| Holding | in JEPQ | in VT |
|---|---|---|
| NVDA NVIDIA Corporation | 6.66% | 3.99% |
| AAPL Apple Inc. | 5.80% | 3.57% |
| MSFT Microsoft Corporation | 3.88% | 2.37% |
| AMZN Amazon.com, Inc. | 3.66% | 1.97% |
| AVGO Broadcom Inc. | 2.15% | 1.50% |
| GOOG Alphabet Inc. | 5.03% | 1.41% |
| MU Micron Technology, Inc. | 5.56% | 1.11% |
| META Meta Platforms, Inc. | 2.37% | 1.06% |
| TSLA Tesla, Inc. | 2.38% | 1.05% |
| AMD Advanced Micro Devices, Inc. | 3.85% | 0.81% |
| ASML ASML Holding N.V. | 1.13% | 0.65% |
| INTC Intel Corporation | 1.61% | 0.52% |
| AMAT Applied Materials, Inc. | 1.31% | 0.49% |
| LRCX Lam Research Corporation | 2.88% | 0.46% |
| WMT Walmart Inc. | 1.78% | 0.42% |
+ 4 more shared holdings.
Only in JEPQ
JPMorgan Nasdaq Equity Premium Income ETF — Nasdaq covered-call income. Its biggest holdings that VT doesn’t have:
| STX Seagate Technology Holdings plc | 1.92% |
| MRVL Marvell Technology, Inc. | 1.37% |
Only in VT
Vanguard Total World Stock ETF — global all-cap. Its biggest holdings that JEPQ doesn’t have:
| GOOGL Alphabet Inc. Class A | 1.80% |
| 2330 Taiwan Semiconductor Manufacturing Co. Ltd. | 1.64% |
| 005930 Samsung Electronics Co. Ltd. | 0.88% |
| 000660 SK hynix Inc. | 0.84% |
| LLY Eli Lilly & Co. | 0.82% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.70% |
| JPM JPMorgan Chase & Co. | 0.69% |
| JNJ Johnson & Johnson | 0.52% |
So — heavily overlapping. Should you hold both?
JEPQ and VT share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold JEPQ, adding VT mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~85 equal positions, with the top 10 alone at 30% and the Magnificent Seven at 24%.
Holdings as of — JEPQ: Jun 30, 2026 (J.P. Morgan Asset Management); VT: 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 VT — FAQ
- How much do JEPQ and VT overlap?
- JEPQ and VT overlap by approximately 60% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 10 of JEPQ's 10 largest holdings are also held by VT. They share 19 of their listed top holdings in total.
- Is it redundant to hold both JEPQ and VT?
- 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 85 positions and a A diversification grade.
- What does VT hold that JEPQ doesn't?
- VT's largest holdings that JEPQ doesn't hold include GOOGL, 2330, 005930, 000660, LLY. Its category is global all-cap, versus JEPQ's Nasdaq covered-call income.
- Which is more concentrated, JEPQ or VT?
- JEPQ's top 10 holdings are 72% of its listed weight; VT's are 55%. The more concentrated fund leans harder on its largest names.