VPU vs EMLP overlap
VPU and EMLP overlap 34.2% by weight, across 31 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (VPU: May 31, 2026, EMLP: July 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | VPU | EMLP | Overlap |
|---|---|---|---|
| Southern CoSO | 6.67% | 2.66% | 2.66% |
| Entergy Corp.ETR | 3.21% | 2.12% | 2.12% |
| DUKE Energy Corp.DUK | 6.28% | 2.05% | 2.05% |
| SempraSRE | 3.83% | 1.86% | 1.86% |
| PPL Corp.PPL | 1.72% | 2.60% | 1.72% |
| American ElectriAEP | 4.45% | 1.65% | 1.65% |
| PUB SERV EnterpPEG | 2.58% | 1.55% | 1.55% |
| Firstenergy Corp.FE | 1.68% | 1.53% | 1.53% |
| XCEL Energy Inc.XEL | 3.09% | 1.48% | 1.48% |
| Dominion EnergyD | 3.76% | 1.47% | 1.47% |
| Nextera EnergyNEE | 11.79% | 1.47% | 1.47% |
| Centerpoint ENERCNP | 1.82% | 1.43% | 1.43% |
| WEC Energy GroupWEC | 2.38% | 1.41% | 1.41% |
| Evergy Inc.EVRG | 1.24% | 1.55% | 1.24% |
| Atmos EnergyATO | 1.80% | 1.21% | 1.21% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: VPU, SEC Form N-PORT, May 31, 2026; EMLP, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | VPU | EMLP |
|---|---|---|
| Morgan Stanley | $236.9M | $786.2M |
| Bank of America Corp. | $208.8M | $111.0M |
| LPL Financial LLC | $178.2M | $118.5M |
| Wells Fargo & Company | $99.9M | $104.3M |
| Capital Investment Advisors, LLC | $338K | $189.3M |
| Northwestern Mutual Wealth Management Co | $144.9M | $4.6M |
| Cresset Asset Management, LLC | $702K | $130.9M |
| UBS Group AG | $61.9M | $59.1M |
| Envestnet Asset Management Inc. | $99.7M | $12.9M |
| Raymond James Financial Inc. | $57.5M | $40.4M |
| Royal Bank of Canada | $36.5M | $61.4M |
| Wealthspire Advisors, LLC | $3.3M | $90.4M |
| Rockefeller Capital Management L.P. | $40.7M | $44.5M |
| Osaic Holdings, Inc. | $66.5M | $11.8M |
| Commonwealth Equity Services, LLC | $35.1M | $39.5M |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: VPU institutional holders, EMLP institutional holders.
Frequently asked questions
How much do VPU and EMLP overlap?
34.2% by weight, with 31 holdings in common, using holdings for VPU as of May 31, 2026 and EMLP as of July 31, 2026. The largest shared position is SO.
Do institutions hold both VPU and EMLP?
197 Form 13F filers report positions in both, out of 873 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.