JEPQ vs SPY ETF holdings comparison
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) · SPDR S&P 500 ETF Trust (SPY)
JEPQ and SPY overlap by 49% by portfolio weight. The remaining 51.0 percentage points are not counted as shared holdings weight by this calculation. They share 83 stocks; the largest shared position is NVIDIA Corp. (NVDA), contributing 7.34% to the overlap.
The holdings dates differ. This can slightly understate overlap for funds tracking similar indexes.
What this means
JEPQ and SPY share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Overlap by weight sums the smaller of the two funds' weights for every stock they both hold. It answers "how much of my money is in the same stocks either way?" See methodology.
This comparison covers normalized equity positions represented in the dataset. Cash, derivatives, options, structured notes, and other non-equity assets are not included, so the result is not a complete comparison of every asset or risk in either fund.
Top shared holdings
| Company | Ticker | in JEPQ | in SPY |
|---|---|---|---|
| NVIDIA Corp. | NVDA | 7.34% | 7.80% |
| Apple, Inc. | AAPL | 6.37% | 6.88% |
| Microsoft Corp. | MSFT | 4.81% | 5.52% |
| Amazon.com, Inc. | AMZN | 4.01% | 3.86% |
| Alphabet, Inc. | GOOG | 5.09% | 2.45% |
| Broadcom, Inc. | AVGO | 2.23% | 2.55% |
| Meta Platforms, Inc. | META | 3.02% | 1.89% |
| Micron Technology, Inc. | MU | 2.04% | 1.59% |
| Tesla, Inc. | TSLA | 2.60% | 1.49% |
| Advanced Micro Devices, Inc. | AMD | 1.68% | 1.18% |
Holdings only in JEPQ or SPY
JEPQ has 9 fund-only positions representing approximately 3.2 percentage points of reported exposure; SPY has 420 fund-only positions representing approximately 46.4 percentage points of reported exposure. These are positions whose normalized security identifiers appear in one issuer file but not the other.
Largest positions only in JEPQ
| Company | Ticker | Weight |
|---|---|---|
| ASML Holding NV | ASML | 0.91% |
| Honeywell International, Inc. | HON | 0.81% |
| Shopify, Inc. | SHOP | 0.48% |
| MercadoLibre, Inc. | MELI | 0.47% |
| Alnylam Pharmaceuticals, Inc. | ALNY | 0.29% |
| PDD Holdings, Inc. | PDD | 0.10% |
| HubSpot, Inc. | HUBS | 0.10% |
| Strategy, Inc. | MSTR | 0.06% |
| Atlassian Corp. | TEAM1EUR | 0.03% |
Largest positions only in SPY
| Company | Ticker | Weight |
|---|---|---|
| Alphabet Inc Cl A | GOOGL | 3.08% |
| Eli Lilly + Co | LLY | 1.48% |
| Jpmorgan Chase + Co | JPM | 1.44% |
| Berkshire Hathaway Inc Cl B | BRK.B | 1.40% |
| Exxonmobil Holdings Corp | XOM | 1.01% |
| Johnson + Johnson | JNJ | 0.99% |
| Visa Inc Class A Shares | V | 0.96% |
| Bank Of America Corp | BAC | 0.62% |
| Merck + Co. Inc. | MRK | 0.58% |
| Chevron Corp | CVX | 0.57% |
FAQ
How much do JEPQ and SPY overlap?
JEPQ and SPY have 49% overlap by weight, sharing 83 equity positions (out of 92 in JEPQ and 503 in SPY). The official holdings files used are dated 2026-03-31 for JEPQ and 2026-08-25 for SPY.
What does 49% overlap mean?
JEPQ and SPY share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Which stocks do JEPQ and SPY both hold?
The largest shared positions are NVIDIA Corp., Apple, Inc., Microsoft Corp., Amazon.com, Inc., Alphabet, Inc.. The top shared holdings with weights in each fund are shown on this page.
What holdings are different between JEPQ and SPY?
JEPQ has 9 positions not found in SPY, while SPY has 420 positions not found in JEPQ. The largest fund-only positions and their weights are shown on this page.