JEPQ vs VTI: how much do they really overlap?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF, tracking the Nasdaq-100 (active)) and VTI (Vanguard Total Stock Market ETF, tracking the CRSP US Total Market) overlap by roughly 64% by weight. 10 of JEPQ's top 10 holdings also appear in VTI. A 50/50 blend of the two behaves like about 60 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 VTI. The weight columns show how much of each fund each name represents.
| Holding | in JEPQ | in VTI |
|---|---|---|
| NVDA NVIDIA Corporation | 6.66% | 6.32% |
| AAPL Apple Inc. | 5.80% | 5.84% |
| MSFT Microsoft Corporation | 3.88% | 3.81% |
| AMZN Amazon.com, Inc. | 3.66% | 3.17% |
| GOOG Alphabet Inc. | 5.03% | 2.27% |
| AVGO Broadcom Inc. | 2.15% | 2.46% |
| MU Micron Technology, Inc. | 5.56% | 1.79% |
| META Meta Platforms, Inc. | 2.37% | 1.70% |
| TSLA Tesla, Inc. | 2.38% | 1.63% |
| AMD Advanced Micro Devices, Inc. | 3.85% | 1.30% |
| AMAT Applied Materials, Inc. | 1.31% | 0.79% |
| INTC Intel Corporation | 1.61% | 0.77% |
| LRCX Lam Research Corporation | 2.88% | 0.74% |
| WMT Walmart Inc. | 1.78% | 0.68% |
| CSCO Cisco Systems, Inc. | 1.34% | 0.57% |
+ 4 more shared holdings.
Only in JEPQ
JPMorgan Nasdaq Equity Premium Income ETF — Nasdaq covered-call income. Its biggest holdings that VTI doesn’t have:
| STX Seagate Technology Holdings plc | 1.92% |
| ASML ASML Holding N.V. | 1.13% |
Only in VTI
Vanguard Total Stock Market ETF — total US market. Its biggest holdings that JEPQ doesn’t have:
| GOOGL Alphabet Inc. Class A | 2.88% |
| LLY Eli Lilly & Co. | 1.40% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.24% |
| JPM JPMorgan Chase & Co. | 1.11% |
| JNJ Johnson & Johnson | 0.84% |
| XOM Exxon Mobil Corp. | 0.78% |
| V Visa Inc. Class A | 0.77% |
| CAT Caterpillar Inc. | 0.67% |
So — heavily overlapping. Should you hold both?
JEPQ and VTI share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold JEPQ, adding VTI mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~60 equal positions, with the top 10 alone at 36% and the Magnificent Seven at 29%.
Holdings as of — JEPQ: Jun 30, 2026 (J.P. Morgan Asset Management); VTI: 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 VTI — FAQ
- How much do JEPQ and VTI overlap?
- JEPQ and VTI overlap by approximately 64% 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 VTI. They share 19 of their listed top holdings in total.
- Is it redundant to hold both JEPQ and VTI?
- 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 60 positions and a A diversification grade.
- What does VTI hold that JEPQ doesn't?
- VTI's largest holdings that JEPQ doesn't hold include GOOGL, LLY, BRK.B, JPM, JNJ. Its category is total US market, versus JEPQ's Nasdaq covered-call income.
- Which is more concentrated, JEPQ or VTI?
- JEPQ's top 10 holdings are 72% of its listed weight; VTI's are 58%. The more concentrated fund leans harder on its largest names.