Do SCHD and JEPI hold the same companies?

At least 8% of each fund is the same holding as the other, led by MRK, PEP, BMY. This measurement names the companies behind 92% of the money, so the real overlap is at least this and cannot be smaller.

Do SCHD and JEPI fall together?

Measured from 2020-05-21 to 2026-11-06, the worst fall on record was 17% for SCHD and 14% for JEPI. Held half and half, the worst fall was 15%. Over the same window, the two swing like a single bet.

What changes if both are held?

A half-and-half mix had volatility 12% over this window, against 15% for SCHD and 11% for JEPI, and its worst fall was 15%. Inside that mix, SCHD carries 60% of the risk for half of the money.

How are these figures measured?

From daily closing prices supplied by Yahoo Finance, over 2020-05-21 to 2026-11-06 — 1,625 trading days, in USD — by the same engine that serves the app. Every figure describes what has already happened: nothing here forecasts returns or losses, and nothing here is advice.

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How much of two funds is the same company, and how far each one fell.

How much of SCHD and JEPI is the same?

At least 8% of each fund is the same holding as the other: the same companies at the same weight. In a half-and-half mix, the two swing like a single bet.

Daily prices, 21 May 2020 to 6 Nov 2026. What happened, not a forecast.

Measure this pair

Measured over 6 years of daily prices: what each one brings, and what changes when both are held.

Measured on 2026-11-06

The companies both of them hold

Company	Share of a half-and-half mix	Through
MRK	2.8%	SCHD 2.4% · JEPI 0.4%
PEP	2.4%	SCHD 1.8% · JEPI 0.6%
BMY	2.3%	SCHD 1.7% · JEPI 0.6%
VZ	2.2%	SCHD 2.0% · JEPI 0.2%
COP	2.2%	SCHD 2.0% · JEPI 0.2%
PG	2.1%	SCHD 1.9% · JEPI 0.2%
UNH	2.1%	SCHD 1.9% · JEPI 0.2%
TXN	1.9%	SCHD 1.6% · JEPI 0.3%
AMGN	2.3%	SCHD 2.3% — held through one of the two only
ABT	2.3%	SCHD 2.3% — held through one of the two only
KO	2.1%	SCHD 2.1% — held through one of the two only
CVX	2.0%	SCHD 2.0% — held through one of the two only

Overlap is counted company by company: the smaller of its two weights, added up. This measurement names the companies behind 92% of the money; the rest is out of its sight. The share above is what is shared within that part: it is a floor, never the total overlap.

The worst falls on record

Holding	Worst fall	Volatility
SCHD	17%	15%
JEPI	14%	11%
Both, half and half	15%	12%

Measured on the same window for all three rows, so they can be read against each other. A fall is peak to trough on daily closes.

Where the risk sits in a half-and-half mix

Holding	Money	Risk	Ratio
SCHD	50%	60%	1.19
JEPI	50%	40%	0.81

The reading, in full

PORTFOLIO: SCHD + JEPI
2020-05-21 to 2026-11-06 · 1,625 trading days · USD

2 holdings.
Together they swing like a single bet.

SCHD carries 60% of the risk on its own.
Volatility 12% · worst fall on record 15%.
Risk 14% → 9% over the last year, mostly because the holdings themselves got quieter.

Descriptive. No forecast, no advice. Every figure above is measured over the window named at the top.
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Questions people ask about this pair

Do SCHD and JEPI hold the same companies?: At least 8% of each fund is the same holding as the other, led by MRK, PEP, BMY. This measurement names the companies behind 92% of the money, so the real overlap is at least this and cannot be smaller.
Do SCHD and JEPI fall together?: Measured from 2020-05-21 to 2026-11-06, the worst fall on record was 17% for SCHD and 14% for JEPI. Held half and half, the worst fall was 15%. Over the same window, the two swing like a single bet.
What changes if both are held?: A half-and-half mix had volatility 12% over this window, against 15% for SCHD and 11% for JEPI, and its worst fall was 15%. Inside that mix, SCHD carries 60% of the risk for half of the money.
How are these figures measured?: From daily closing prices supplied by Yahoo Finance, over 2020-05-21 to 2026-11-06 — 1,625 trading days, in USD — by the same engine that serves the app. Every figure describes what has already happened: nothing here forecasts returns or losses, and nothing here is advice.

What this does not say

Every figure is measured on past daily prices over the window below. It is not a forecast of returns or losses.
The window starts when the younger fund began trading, so older crises may lie outside it.
The overlap is measured through published holdings only, and is a floor: the real figure is at least this, and cannot be smaller.
Which of two funds to hold depends on things not measured here — what you already own, costs at your broker, and your own tax position.

Measure it with what you actually hold

Change the split, add the rest of your portfolio, see what the pair does inside it: same engine, nothing saved on our side.

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Measured 2020-05-21 to 2026-11-06 over 1,625 trading days, in USD, from Yahoo Finance prices. Descriptive: this page reports what these two funds have done and how much of them is the same holding. It does not forecast returns or losses, it does not say which to hold, and it is not advice. How every figure is measured. Terms and privacy: /terms. If a figure looks wrong: [email protected].