JEPQ vs VTV: how much do they really overlap?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF, tracking the Nasdaq-100 (active)) and VTV (Vanguard Value ETF, tracking the CRSP US Large Cap Value) overlap by roughly 18% by weight. 1 of JEPQ's top 10 holdings also appear in VTV. A 50/50 blend of the two behaves like about 107 equally-weighted bets (diversification grade A). In short, the two funds have only a small shared core — they mostly hold different things and are largely complementary.
The same companies, in both funds
These 5 holdings appear in both JEPQ and VTV. The weight columns show how much of each fund each name represents.
| Holding | in JEPQ | in VTV |
|---|---|---|
| MU Micron Technology, Inc. | 5.56% | 4.17% |
| WMT Walmart Inc. | 1.78% | 1.93% |
| INTC Intel Corporation | 1.61% | 1.75% |
| CSCO Cisco Systems, Inc. | 1.34% | 1.63% |
| AMAT Applied Materials, Inc. | 1.31% | 0.68% |
Only in JEPQ
JPMorgan Nasdaq Equity Premium Income ETF — Nasdaq covered-call income. Its biggest holdings that VTV doesn’t have:
| NVDA NVIDIA Corporation | 6.66% |
| AAPL Apple Inc. | 5.80% |
| 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% |
| TSLA Tesla, Inc. | 2.38% |
Only in VTV
Vanguard Value ETF — US large-cap value. Its biggest holdings that JEPQ doesn’t have:
| JPM JPMorgan Chase & Co. | 2.88% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.82% |
| XOM Exxon Mobil Corp. | 2.31% |
| JNJ Johnson & Johnson | 2.07% |
| CAT Caterpillar Inc. | 1.55% |
| ABBV AbbVie Inc. | 1.47% |
| CVX Chevron Corp. | 1.32% |
| UNH UnitedHealth Group Inc. | 1.31% |
So — mostly different. Should you hold both?
JEPQ and VTV have only a small shared core — they mostly hold different things and are largely complementary. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~107 effective positions (grade A), because they hold largely different securities.
Holdings as of — JEPQ: Jun 30, 2026 (J.P. Morgan Asset Management); VTV: May 31, 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 VTV — FAQ
- How much do JEPQ and VTV overlap?
- JEPQ and VTV overlap by approximately 18% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 1 of JEPQ's 10 largest holdings are also held by VTV. They share 5 of their listed top holdings in total.
- Is it redundant to hold both JEPQ and VTV?
- Because they have only a small shared core — they mostly hold different things and are largely complementary, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 107 positions and a A diversification grade.
- What does VTV hold that JEPQ doesn't?
- VTV's largest holdings that JEPQ doesn't hold include JPM, BRK.B, XOM, JNJ, CAT. Its category is US large-cap value, versus JEPQ's Nasdaq covered-call income.
- Which is more concentrated, JEPQ or VTV?
- JEPQ's top 10 holdings are 72% of its listed weight; VTV's are 41%. The more concentrated fund leans harder on its largest names.