The electronic and optical properties of vertical pairs of capped, structur
ally identical InAs pyramidal quantum dots with {101} facets in GaAs are in
vestigated theoretically. For distances smaller than 17 ML a strong distanc
e dependent quantum coupling between the two dots is predicted for electron
s, leading to a term splitting between the ground and the first excited sta
te. Holes are asymmetrically affected by the strain and the piezoelectric p
otential which, together, prevent a term splitting like in the electron cas
e. The excited hole states vary in their character, dependent on the spacer
thickness. Consequently, exciton absorption spectra significantly depend o
n the vertical dot distance, regarding the energetic range, order, and shap
e of peaks, and the polarization anisotropies.