JEPI vs XLU Overlap
JEPI is an equity ETF from J.P. Morgan, while XLU is a utilities ETF from SPDR. JEPI and XLU show limited overlap, with an estimated weighted overlap of 5.11%. They share 6 holdings in the loaded dataset, led by NEE, SO, and ETR.
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Quick Answer
JEPI is an equity ETF from J.P. Morgan, while XLU is a utilities ETF from SPDR. JEPI and XLU show limited overlap, with an estimated weighted overlap of 5.11%. They share 6 holdings in the loaded dataset, led by NEE, SO, and ETR.
- 5.11% weighted overlap across 6 shared holdings.
- The top three shared holdings explain 70.88% of the measured overlap.
- JEPI is the broader fund, while XLU is more targeted.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both can still add materially different exposure.
Data Freshness
- JEPI holdings
- Mar 12, 2026
- XLU holdings
- Mar 12, 2026
- Overlap computed
- Mar 15, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
JEPI is an equity ETF from J.P. Morgan, while XLU is a utilities ETF from SPDR. JEPI and XLU do not own much of the same portfolio weight. That usually means you are combining different parts of the market, with only a small amount of duplication through names like NEE, SO, and ETR.
How They Differ
JEPI is an equity ETF from J.P. Morgan, while XLU is a utilities ETF from SPDR. JEPI is the broader fund, while XLU is the more targeted sleeve. XLU has the lower expense ratio, while JEPI charges more for its exposure.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 70.88% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
If you want the broader portfolio building block, JEPI is usually the wider choice. If you want the more focused tilt, XLU is the narrower expression. XLU has the lower expense ratio, while JEPI charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 70.88% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between JEPI and XLU.
| Holding | Name | JEPI Wt. | XLU Wt. | Overlap |
|---|---|---|---|---|
| NEE | NEXTERA ENERGY INC | 1.58% | 13.32% | 1.58% |
| SO | THE SOUTHERN COMPANY | 1.07% | 7.41% | 1.07% |
| ETR | ENTERGY CORP COMMON | 0.97% | 3.27% | 0.97% |
| SRE | SEMPRA COMMON STOCK USD | 0.77% | 4.24% | 0.77% |
| XEL | XCEL ENERGY INC COMMON | 0.50% | 3.38% | 0.50% |
| CMS | CMS ENERGY CORP COMMON | 0.23% | 1.63% | 0.23% |
Why These ETFs Overlap
JEPI is an equity ETF from J.P. Morgan, while XLU is a utilities ETF from SPDR. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are NEE, SO, and ETR, which appear in both portfolios and push the overlap score higher.
Holding both JEPI and XLU can make sense if you want exposure to different sleeves of the market. The overlap is small enough that both funds may still improve diversification.
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Frequently Asked Questions About JEPI and XLU
What is the overlap between JEPI and XLU?+
How many holdings do JEPI and XLU share?+
Is the JEPI and XLU overlap high?+
Why do JEPI and XLU overlap?+
Which ETF is broader, JEPI or XLU?+
How Overlap Is Calculated
A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.