JEPI(JEPI)
AI Look-Through Summary
AI GeneratedThe JEPI ETF, managing approximately $44 billion in assets, presents a concentrated portfolio anchored by large-cap technology and industrial leaders. While the fund's sector weightings for Industrials, Consumer Cyclical, Technology, Communication Services, Utilities remain relatively modest individually at 5.0%, 3.5%, 3.3%, 1.8%, and 1.7% respectively, the top ten holdings collectively represent a significant portion of the underlying assets. This concentration is driven by heavy exposure to mega-cap names such as Alphabet, Amazon, NextEra Energy, Eaton, Ross Stores, Broadcom, Trane Technologies, Occidental Petroleum, HWM, and NVIDIA. The presence of these specific equities suggests that despite low reported sector percentages in the breakdown provided, the actual economic drivers are heavily skewed toward dominant players within Technology, Consumer Discretionary, and Industrial sectors rather than a broad-based industrial or utility play.
Geographically, the explicit data does not detail regional allocation, but the composition of top holdings implies a strong tilt toward U.S.-listed companies with global revenue streams, particularly in communication services and consumer staples where domestic consumption plays a major role. Quantitatively, the sheer scale of $44 billion indicates deep liquidity and significant institutional participation, which often correlates with lower tracking error relative to its benchmark but may introduce unique risks if top holdings face correlated headwinds. The overlap between sectors is notable; for instance, companies like Amazon and NVIDIA appear in both Technology and Consumer Cyclical contexts depending on classification nuances, potentially obscuring the true diversification benefits within the reported sector weights.
Ultimately, this structure offers investors exposure to a specific set of high-conviction large-cap equities rather than a diversified basket across many mid-sized firms or alternative asset classes typically associated with income-focused strategies. The reliance on just ten stocks for such a massive fund means that performance will be tightly correlated with the earnings trajectories and valuation multiples of these specific names, particularly semiconductor and cloud infrastructure leaders represented in the top tier. Any analysis must weigh this concentration risk against the stability provided by established market cap sizes inherent to the listed constituents.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-23 22:14:34.752112+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 85/100The investment theme implied by the JEPI name centers on generating high monthly income through dividend-paying equities, a strategy that is broadly reflected in its top holdings. While the fund includes significant positions in technology and consumer cyclical sectors such as Alphabet, Amazon, and Nvidia, these companies are generally recognized for their substantial shareholder returns relative to peers in those industries. The inclusion of utilities like NextEra Energy alongside industrials and energy stocks creates a diversified income stream that transcends traditional sector boundaries, suggesting the fund prioritizes cash flow generation over strict thematic purity within any single industry vertical.
Sector coherence appears strong given the balanced distribution across Industrials, Consumer Cyclical, Technology, Communication Services, Utilities, and Energy, with no single sector dominating the portfolio to the point of distorting the income objective. The relatively low top-10 concentration of 16.8% indicates that returns are not driven by a handful of mega-cap stocks but rather by a broader basket of dividend contributors, which reduces idiosyncratic risk while maintaining exposure to large-cap stability. This structure differentiates the fund from broad market indices by intentionally tilting toward sectors and specific companies known for consistent payout histories, thereby aligning the actual asset composition with the stated goal of providing reliable monthly distributions without relying on speculative growth narratives.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 18:42:38.858098+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors across the top holdings of JEPI highlight a converging theme where regulatory and compliance pressures are becoming material to financial conditions. A primary systemic threat emerging from these disclosures is the increasing burden of environmental, social, and governance mandates, specifically regarding climate change regulations which could adversely impact results for major constituents like NVIDIA. Simultaneously, there is a distinct macro-level shift toward stricter oversight in high-growth sectors, evidenced by explicit warnings about AI usage regulations potentially eroding competitive positions while driving up operational costs. This regulatory tightening appears to be affecting diverse segments of the portfolio, from technology giants navigating data privacy requirements and responsible AI frameworks to energy producers facing climate-related compliance challenges.
The concentration of these specific risk categories within the fund's top holdings suggests a non-trivial level of correlated downside exposure if regulatory environments tighten further or enforcement becomes more stringent. While NVIDIA alone flags multiple distinct areas including cybersecurity, environmental compliance, and artificial intelligence regulation, the presence of similar themes across other major positions indicates that broad policy shifts could impact a significant portion of the portfolio simultaneously rather than in isolation. This clustering implies that macroeconomic headwinds driven by government intervention or shifting societal expectations regarding technology and sustainability are not isolated incidents but represent a structural change in the operating landscape for these large-cap growth and value names.
In addition to shared systemic risks, certain company-specific disclosures warrant attention due to their potential disproportionate impact given individual weightings within the fund. For instance, NVIDIA's explicit mention of compliance costs related to responsible AI usage presents a unique vulnerability tied directly to its core business trajectory in artificial intelligence. If regulatory bodies impose costly restrictions on how this technology is deployed or monetized, the specific financial strain described could weigh heavily relative to the company's 1.6% allocation, potentially creating outsized volatility for the ETF compared to holdings with less exposed risk profiles.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-24 12:15:06.592592+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of JEPI reveals a pronounced tilt toward defensive and income-generating industries, with Industrials, Consumer Cyclical, Technology, Communication Services, Utilities, and Energy collectively comprising the entire portfolio given no other sectors are listed. While these categories span various market segments, their specific weightings suggest an investment thesis prioritizing stability over aggressive growth exposure. The presence of significant holdings in Utilities and large-cap technology firms like GOOGL and AMZN indicates a strategy that seeks to balance yield generation with established business models capable of sustaining dividends even during periods of economic volatility. This mix implies the fund is constructed to capture downside protection while maintaining access to high-quality cash flows rather than chasing momentum or speculative upside.
Concentration risk appears managed at the top level, as the Top-10 holdings account for only 16.8% of assets under management, suggesting a broad diversification strategy within the underlying basket despite the dominance of specific sectors. However, the reliance on just three to four major positions in each sector means that performance will remain heavily correlated with the fortunes of those individual companies rather than the broader industry trends they represent. The inclusion of Communication Services and Energy alongside traditional defensive names like Utilities creates a nuanced factor profile that blends value characteristics with moderate growth potential from tech giants, avoiding an extreme tilt toward any single style metric.
Ultimately, this structure reflects a deliberate attempt to construct a portfolio resilient to market downturns while still participating in the earnings power of dominant industry leaders. The low concentration in the top ten allows for flexibility without exposing investors to idiosyncratic risks associated with holding too many large positions, yet the sector weights ensure that the fund's returns will be tightly linked to the performance of its core industrial and utility constituents. Investors analyzing this data should consider how well this specific blend aligns with their tolerance for volatility versus income needs, noting that the lack of exposure to growth-heavy or emerging sectors limits potential upside during bull markets but may enhance stability in bearish environments.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 03:40:28.20867+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share JEPI's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 67% of JEPI's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| VTVT | $80B | — | 10 | 16.8% |
| VOOVanguard S&P 500 ETF | $1.5T | 0.03% | 10 | 16.8% |
| SPTMSPTM | $12B | — | 10 | 16.8% |
| QUSQUS | $1B | — | 10 | 16.8% |
| SPLGSPLG | $97B | — | 10 | 16.8% |
17% of JEPI's portfolio by weight is also held by VT, which commands 2× more assets under management. When VT receives inflows, it mechanically buys these shared stocks — dragging JEPI's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 84% ofJEPI's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 15% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside JEPI collectively pay out 44% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 13% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryJEPI is up 5.2% over the last 12 months. The underlying weighted earnings growth of its constituents is +49.6%. Despite earnings growth, valuations have contracted by 44.4% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 15% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of JEPI's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of JEPI's analyzed weight, 89% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 11% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 15% of fund weight with available data. Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
JEPI has a Passive Crowding Score of 41/100. On average, 12.2% of the market capitalization of JEPI's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 43 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 10 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc Class A Communication Services | 1.81% | 29.0x | 6/9 |
| 2 | AMZN | Amazon.com Inc Consumer Cyclical | 1.76% | 31.7x | 6/9 |
| 3 | NEE | NextEra Energy Inc Utilities | 1.70% | 22.1x | 5/9 |
| 4 | ETN | Eaton Corp PLC Industrials | 1.70% | 39.2x | 7/9 |
| 5 | ROST | Ross Stores Inc Consumer Cyclical | 1.70% | 32.4x | — |
| 6 | AVGO | Broadcom Inc Technology | 1.67% | 86.9x | 8/9 |
| 7 | TT | Trane Technologies PLC Class A Industrials | 1.65% | 34.5x | 9/9 |
| 8 | EOG | EOG Resources Inc Energy | 1.62% | 13.1x | 3/9 |
| 9 | HWM | Howmet Aerospace Inc Industrials | 1.61% | 59.9x | 8/9 |
| 10 | NVDA | NVIDIA Corp Technology | 1.59% | 32.4x | 4/9 |
Historical Holdings Snapshots
Browse how JEPI’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
10 holdings · 16.8% tracked weight2026-05-23
10 holdings · 16.8% tracked weight2026-05-22
10 holdings · 16.8% tracked weight2026-05-21
10 holdings · 16.8% tracked weight2026-05-20
10 holdings · 16.8% tracked weightSource: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove JEPI Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current trading level of $56.33 for JEPI presents a snapshot where price action must be weighed against the broader context of recent drawdowns and volatility shifts to assess momentum integrity. Without historical trend lines or volume profiles, it is difficult to determine if this specific price point represents a resilient structural floor or a fragile ceiling susceptible to immediate reversal pressures. The absence of supporting data regarding moving average crossovers or relative strength indicators leaves the nature of the current move ambiguous; it could be interpreted as a consolidation phase following significant correction or an early-stage recovery that lacks confirmed breadth. In this environment, the interplay between recent price depressions and inherent volatility suggests that any upward movement from $56.33 requires validation through sustained trading activity rather than isolated spikes. The fundamental backdrop of income-focused equities often introduces unique risk dynamics where short-term technical fluctuations may not immediately align with long-term value propositions. Consequently, observers must scrutinize whether the current price level acts as a pivot point supported by institutional accumulation or if it remains vulnerable to further downside pressure driven by macroeconomic headwinds typical for this asset class. Ultimately, the technical setup at $56.33 offers limited definitive signals without additional layers of market data such as order flow analysis or sector-relative performance metrics. The risk profile appears contingent on how quickly volatility normalizes and whether subsequent price action can decisively break through key resistance zones that have likely formed during recent drawdowns. Market participants should monitor if
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How JEPI’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.