JEPQ vs SPY: Holdings Overlap
JEPQJPMorgan Nasdaq Equity Premium Income ETF
JPMorgan · 107 holdings · $39.9B · as of 2026-03-31
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 128 days apart (JEPQ: 2026-03-31, SPY: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are JEPQ and SPY?
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ, by JPMorgan) holds 107 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 83 holdings in common, and by portfolio weight the two funds are 49.0% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 49.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 83JEPQ holds 107 · SPY holds 504
- Weight in Shared Holdings
- JEPQ 76%·SPY 54%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in JEPQ
24 of 107 positions (20.2% of the fund) are not held by SPY.
- BNP Paribas Issuance BV, ELN, 81.10%, 05/04/2026, (linked to Nasdaq 100 Index)1.19%
- BNP Paribas Issuance BV, ELN, 80.55%, 05/01/2026, (linked to Nasdaq 100 Index)1.19%
- Morgan Stanley Finance LLC, ELN, 79.00%, 04/10/2026, (linked to Nasdaq 100 Index)1.19%
- National Bank of Canada, ELN, 74.00%, 04/27/2026, (linked to Nasdaq 100 Index)1.18%
- Barclays Bank plc, ELN, 72.40%, 04/23/2026, (linked to Nasdaq 100 Index)1.17%
- Royal Bank of Canada, ELN, 67.44%, 04/24/2026, (linked to Nasdaq 100 Index)1.16%
Only in SPY
421 of 504 positions (45.9% of the fund) are not held by JEPQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | JEPQ | SPY |
|---|---|---|
| Information Technology | 40.2% | 37.6% |
| Communication Services | 12.5% | 9.7% |
| Financials | 0.5% | 12.3% |
| Consumer Discretionary | 10.4% | 9.3% |
| Health Care | 4.2% | 8.9% |
| Other Sectors | 11.7% | 22.1% |
| Unclassified | 16.9% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (18% of JEPQ, 0% of SPY).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| JEPQ | +1.9% | +10.1% | +21.5% | +19.2% | — | — | 10.92% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in JEPQ vs SPY →
Shared Holdings(83)
The top 10 shared positions account for 68% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. COM | 7.34% | 8.00% | 7.34% |
|---|---|---|---|
 AAPLApple Inc. COM | 6.37% | 6.92% | 6.37% |
 MSFTMicrosoft Corp. COM | 4.81% | 5.60% | 4.81% |
 AMZNAmazon.com, Inc. COM | 4.01% | 4.02% | 4.01% |
 GOOGAlphabet Inc. CAP STK CL C | 5.09% | 2.54% | 2.54% |
 AVGOBroadcom Inc COM | 2.23% | 3.00% | 2.23% |
 METAMeta Platforms, Inc., Class A | 3.02% | 1.95% | 1.95% |
 MUMicron Technology Inc. COM | 2.04% | 1.50% | 1.50% |
 TSLATesla Inc COM | 2.60% | 1.36% | 1.36% |
 AMDAdvanced Micro Devices Inc. COM | 1.68% | 1.20% | 1.20% |
 WMTWalmart Inc COM | 2.47% | 0.74% | 0.74% |
 CSCOCisco Systems, Inc. COM | 1.12% | 0.72% | 0.72% |
 COSTCostco Wholesale Corporation COM | 1.57% | 0.63% | 0.63% |
 AMATApplied Materials Inc. COM | 0.76% | 0.63% | 0.63% |
 INTCIntel Corporation COM | 0.63% | 0.71% | 0.63% |
 LRCXLam Research Corporation COM NEW | 1.78% | 0.58% | 0.58% |
 PLTRPalantir Technologies, Inc., Class A | 1.22% | 0.54% | 0.54% |
 NFLXNetflix, Inc. COM | 2.07% | 0.47% | 0.47% |
 PANWPalo Alto Networks Inc COM | 0.69% | 0.44% | 0.44% |
 ABBVAbbVie Inc. COM | 0.43% | 0.65% | 0.43% |
 TXNTexas Instruments Inc. COM | 0.70% | 0.38% | 0.38% |
 LINLinde PLC COM EUR0.001 | 0.88% | 0.34% | 0.34% |
 AMGNAmgen Inc. COM | 0.44% | 0.33% | 0.33% |
 CRWDCrowdstrike Holdings, Inc., Class A | 0.49% | 0.32% | 0.32% |
 STXSeagate Technology Holdings PLC ORD SHS | 0.96% | 0.29% | 0.29% |
Frequently Asked Questions
How much do JEPQ and SPY overlap?
JEPQ and SPY overlap by 49.0% of portfolio weight. They share 83 holdings (JEPQ holds 107 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both JEPQ and SPY?
The two portfolios are 49.0% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of JEPQ and SPY?
The largest positions held by both funds are NVDA, AAPL, MSFT, AMZN and GOOG. Together the top 10 shared positions account for 68% of the total overlap.
What does JEPQ own that SPY doesn't?
24 positions (20.2% of JEPQ) are unique to JEPQ, led by BNP Paribas Issuance BV, ELN, 81.10%, 05/04/2026, (linked to Nasdaq 100 Index), BNP Paribas Issuance BV, ELN, 80.55%, 05/01/2026, (linked to Nasdaq 100 Index) and Morgan Stanley Finance LLC, ELN, 79.00%, 04/10/2026, (linked to Nasdaq 100 Index). In the other direction, 421 positions (45.9% of SPY) are unique to SPY.