JEPQ(JEPQ)
AI Look-Through Summary
AI GeneratedJEPQ demonstrates a pronounced concentration within the technology sector, which accounts for 27.3% of its total portfolio weight, significantly outweighing communication services at 9.3% and consumer cyclicals at 7.2%. This heavy tilt is driven by substantial exposure to mega-cap equities, with NVIDIA alone representing nearly eight percent of assets under management, followed closely by Apple and Alphabet at roughly six percent each. The top ten holdings collectively dominate the fund's composition, creating a scenario where performance will be heavily influenced by the valuation trajectories and earnings reports of these specific large-capitalization names rather than broad market diversification. Within the technology allocation, there is further clustering around semiconductor and software giants like Microsoft, Broadcom, AMD, and Micron, suggesting that sector-specific volatility in chips or cloud computing could disproportionately impact overall returns.
Geographically, while explicit country weights are not provided, the top holdings list indicates a primary focus on large U.S.-listed companies, aligning with the typical profile of domestic equity strategies rather than international diversification. The presence of consumer cyclical leaders like Amazon and Tesla within the top ten further reinforces an aggressive stance toward growth-oriented businesses that often exhibit higher beta characteristics compared to broader indices. With assets under management exceeding $34 billion, the fund possesses significant liquidity but maintains a structure where idiosyncratic risks associated with its largest positions are magnified relative to more broadly diversified peers. Investors analyzing this vehicle should consider how the current market valuation of these specific mega-cap leaders might influence future drawdowns or upside potential given the lack of meaningful exposure to defensive sectors or smaller mid-cap companies in the provided data snapshot.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-23 15:31:55.188101+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 65/100The ETF name implies a high-growth, disruptive technology theme focused on innovation and scalability. While the top holdings are predominantly within the Technology sector, including major chipmakers like NVIDIA and AMD alongside software giants such as Microsoft and Apple, there is a notable reliance on mega-cap stocks that dominate their respective markets. These large-cap constituents often serve as stabilizers for broad market indices rather than representing pure-play thematic exposure to emerging growth trajectories or niche disruptive sectors. The inclusion of consumer cyclical leaders like Amazon and Tesla further dilutes the strict technological focus suggested by the fund's branding, suggesting a blend of established tech giants with broader high-growth equities that may not strictly adhere to a singular innovation narrative.
Sector coherence indicates a heavy concentration in Technology at 27.3%, supported significantly by Communication Services, yet the top ten holdings account for nearly 44% of the portfolio's value. This extreme concentration creates significant exposure to the performance of just a few massive companies rather than providing diversified thematic coverage across smaller innovators or adjacent sectors often associated with high-growth strategies. The sector weights appear consistent with a large-cap tech tilt, but this structure differentiates the fund less from a broad technology index and more from a weighted basket of its largest market participants. Consequently, while the holdings align broadly with the digital economy theme, the portfolio's behavior may closely mirror general market movements driven by these specific mega-caps rather than offering distinct alpha through thematic selection or exposure to smaller, high-potential entities typically found in specialized growth funds.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 13:14:53.397982+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors from the top holdings of JEPQ highlight a convergence of macro-level pressures centered on regulatory expansion and operational cost escalation. A dominant theme emerging across these disclosures is the potential material impact of evolving compliance frameworks, specifically regarding climate change regulations, data privacy requirements, and artificial intelligence governance. These risks suggest that as governments tighten standards in environmental sustainability, cybersecurity, and AI ethics, major technology firms face increasing obligations to align their operations with stricter legal mandates. This regulatory tightening could simultaneously drive up operational expenditures while constraining competitive agility, creating a systemic headwind for the broader portfolio composition which relies heavily on these high-growth sectors.
The concentration of exposure to these shared risks is significant given that multiple top-tier holdings are flagging similar categories of uncertainty. While specific disclosures vary slightly by company—ranging from climate compliance at NVIDIA to general data privacy and AI regulation—the underlying macro threat is consistent: the regulatory environment governing large-cap technology companies is becoming more stringent and costly. With nearly every major holding in the fund's largest positions citing potential adverse financial impacts or operational disruptions, there is a heightened probability of correlated downside risk if these regulations are implemented broadly across the industry. This clustering indicates that a single macroeconomic shift toward stricter oversight could disproportionately affect the aggregate performance of the fund due to its heavy weighting within this specific regulatory exposure zone.
In terms of individual company impact, NVIDIA carries the highest weight at 7.8% and uniquely flags risks related to AI regulation alongside environmental compliance. Given its substantial allocation in the portfolio, any material adverse event stemming from new AI governance rules or climate mandates could have a magnified effect on overall fund returns compared to smaller holdings. Additionally, while other companies like Apple and Microsoft also face cybersecurity cost pressures, NVIDIA's explicit mention of competitive position impacts due to responsible use regulations suggests that its market leadership in artificial intelligence makes it particularly sensitive to shifts in this specific policy landscape. These factors underscore the importance of monitoring regulatory developments closely as they relate to these top-weighted assets.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-23 09:23:52.276959+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of JEPQ reveals a pronounced thematic focus on the technology and communication services industries, which collectively account for 36.6% of the portfolio's weightage despite representing only eight distinct holdings out of the top positions. This heavy concentration in mega-cap tech giants is further underscored by the fact that four of the top five largest individual positions—NVDA, AAPL, GOOG, and MSFT—are classified within these two sectors alone. Such a structure indicates an investment thesis heavily reliant on the continued dominance and growth trajectory of established digital infrastructure leaders rather than broad-based market participation or exposure to defensive industries like healthcare or utilities. The significant underweighting in other major economic drivers suggests the fund is not attempting to hedge against sector-specific downturns but is instead betting on sustained outperformance from a narrow set of high-conviction names.
From a risk perspective, the top-10 concentration metric of 43.8% highlights substantial idiosyncratic exposure, meaning that adverse events affecting just a few large-cap stocks could disproportionately impact overall portfolio volatility and returns. The sheer weight of NVDA at nearly 7.9%, combined with AAPL and GOOG each holding over 6%, creates a scenario where the fund's performance is inextricably linked to the valuation metrics and earnings reports of these specific entities rather than diversified market movements. This lack of diversification across sectors implies that while potential upside may be amplified during bull markets driven by innovation, downside protection could be limited if regulatory headwinds or technological disruptions specifically target this cluster of companies. The data suggests a strategy prioritizing aggressive growth capture over stability, leaving the portfolio vulnerable to sharp corrections within its primary sectoral exposures without significant internal buffering from other industries.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 09:02:35.546868+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share JEPQ's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of JEPQ's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| RSPRSP | $83B | — | 10 | 43.8% |
| SCHXSCHX | $61B | — | 10 | 43.8% |
| ACWIiShares MSCI ACWI ETF | $28B | — | 10 | 43.8% |
| ITOTiShares Core S&P Total U.S. Stock Market ETF | $80B | — | 10 | 43.8% |
| SPYGSPYG | $42B | — | 10 | 43.8% |
44% of JEPQ's portfolio by weight is also held by RSP, which commands 2× more assets under management. When RSP receives inflows, it mechanically buys these shared stocks — dragging JEPQ's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofJEPQ'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 44% 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 JEPQ collectively pay out 18% 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 34% 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
ProprietaryJEPQ is up 25.4% over the last 12 months. The underlying weighted earnings growth of its constituents is +53.3%. Despite earnings growth, valuations have contracted by 27.9% — 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 41% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of JEPQ's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of JEPQ's analyzed weight, 82% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 18% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 44% 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.
JEPQ has a Passive Crowding Score of 32/100. On average, 9.5% of the market capitalization of JEPQ'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 52 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 | NVDA | NVIDIA Corp Technology | 7.76% | 32.4x | 4/9 |
| 2 | AAPL | Apple Inc Technology | 6.29% | 37.7x | 8/9 |
| 3 | GOOG | Alphabet Inc Class C Communication Services | 6.28% | 28.7x | 6/9 |
| 4 | MSFT | Microsoft Corp Technology | 4.91% | 26.8x | 5/9 |
| 5 | AMZN | Amazon.com Inc Consumer Cyclical | 4.72% | 31.7x | 6/9 |
| 6 | META | Meta Platforms Inc Class A Communication Services | 2.99% | 23.0x | 5/9 |
| 7 | MU | Micron Technology Inc Technology | 2.89% | 45.9x | 7/9 |
| 8 | AVGO | Broadcom Inc Technology | 2.78% | 86.9x | 8/9 |
| 9 | AMD | Advanced Micro Devices Inc Technology | 2.70% | 172.6x | 7/9 |
| 10 | TSLA | Tesla Inc Consumer Cyclical | 2.48% | 399.8x | 5/9 |
Historical Holdings Snapshots
Browse how JEPQ’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
10 holdings · 43.8% tracked weight2026-05-23
10 holdings · 43.8% tracked weight2026-05-22
10 holdings · 43.8% tracked weight2026-05-21
10 holdings · 43.8% tracked weight2026-05-20
10 holdings · 43.8% 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 JEPQ Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current price level of $60.21 for JEPQ presents a snapshot where technical momentum intersects with inherent sector-specific volatility risks. Without historical drawdown data or broader fundamental context, the immediate positioning appears neutral yet precarious; any sudden shift in market sentiment could rapidly expose underlying fragility if recent gains were driven primarily by short-term liquidity rather than structural earnings support. The absence of visible downside protection metrics suggests that while the asset may be trading at a premium relative to its current state, it lacks the confirmed stability often required to withstand significant external shocks typical of high-beta equity instruments. Momentum in this scenario remains unverified as either robust or brittle because critical indicators regarding recent peak-to-trough declines are unavailable for synthesis. If the price has climbed without corresponding increases in volume or fundamental catalysts, the trajectory could be susceptible to sharp corrections once profit-taking pressures mount. Conversely, if this level represents a consolidation zone following prior turbulence, the risk dynamics might indicate a potential stabilization point rather than an imminent collapse. Ultimately, the technical picture is incomplete regarding long-term sustainability, leaving the true nature of current momentum ambiguous until further volatility patterns or fundamental shifts provide clearer directional signals for market participants to evaluate against their own risk tolerances.
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 JEPQ’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.
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Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.