JEPI vs SCHD: ETF Overlap

JPMorgan Equity Premium Income ETF vs Schwab U.S. Dividend Equity ETF — shared top holdings, sector duplication, and what makes each fund different.

Data as of October 20, 2026

Different top holdings

JEPI and SCHD share none of their 10 biggest holdings

Shared top holdings

No positions are shared between the two funds' disclosed top holdings — their biggest names are different securities. Sector overlap measures similar industry weights, not the same stocks, so don't read it as duplication.

Only in JEPI's top 10: Microsoft 2%
Only in JEPI's top 10: NVIDIA 1.9%
Only in JEPI's top 10: Apple 1.9%
Only in SCHD's top 10: Texas Instruments 4.7%
Only in SCHD's top 10: Qualcomm 4.6%
Only in SCHD's top 10: Procter & Gamble 4.2%

Yearly fee on $10,000

JEPI: $35 a year, expense ratio 0.35%
SCHD: $6 a year, expense ratio 0.06%

Where they differ

Tech
Financials
Communication
Consumer
Health
Other

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What's different between JEPI and SCHD?

The largest JEPI positions missing from SCHD's disclosed top holdings are MSFT, NVDA, AAPL. In the other direction, SCHD's largest positions not in JEPI's top list are TXN, QCOM, PG. Disclosed lists cover 18.6% of JEPI and 41.5% of SCHD; the sector table below compares the funds on complete data.

What does this overlap mean?

Their disclosed top holdings share essentially nothing — typical for funds covering different markets (e.g. US vs ex-US) or different corners of one market. The 71.1% sector overlap reflects a similar sector mix, not duplicated top positions: weighting the same industries is not owning the same stocks. On their biggest positions, treat the pair as complements, not duplicates.

Sector breakdown: JEPI vs SCHD

Sector	JEPI	SCHD	Overlap
Consumer Staples	9.2%	20.1%	9.2%
Technology	20%	16%	16%
Health Care	13.4%	19.3%	13.4%
Energy	3.2%	15.4%	3.2%
Industrials	14.6%	7.3%	7.3%
Financial Services	11.2%	9.2%	9.2%
Consumer Discretionary	10.8%	6.7%	6.7%
Communication Services	8.4%	5.9%	5.9%
Utilities	5.2%	0.1%	0.1%
Real Estate	2.3%	0%	0%
Materials	1.6%	0%	0%

How we calculate it

Holdings overlap sums min(weight in fund A, weight in fund B) across positions that appear in both funds' disclosed top-holdings lists — public data discloses only each fund's largest positions, so this number is a lower bound on true full-portfolio overlap. Sector overlap applies the same min() logic to the funds' complete sector allocations, which cover ~100% of each fund, making it the more complete signal of duplication.

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Data & methodology disclaimer

This tool is for education, not investment advice. Holdings and sector data come from public market-data feeds, reflect each fund's most recently disclosed top positions, and can lag the fund's actual portfolio. Overlap computed from disclosed top holdings is a lower bound. Always verify against the fund provider's official holdings file before making decisions.

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