DIVO vs JEPI: Two Popular Income ETFs — Very Different Approaches
DIVO selectively writes covered calls on ~25 quality stocks. JEPI uses equity-linked notes across the S&P 500. Both aim to generate monthly income while limiting upside cap.
DIVO (Capital Group Dividend Value ETF, formerly known as DIVO from Amplify) and JEPI (JPMorgan Equity Premium Income ETF) are both popular income ETFs that use options strategies to enhance yield. DIVO holds roughly 25 high-quality dividend-paying stocks and selectively writes covered calls on individual names — offering more upside participation than a systematic call-writing strategy. It charges 0.55% and typically yields 4-6%. JEPI holds the S&P 500 plus uses equity-linked notes (ELNs) to generate additional income — yielding 7-12% monthly but capping significant upside. JEPI charges 0.35% and has over $40B in assets. DIVO's selective approach has maintained better total returns in bull markets; JEPI's scale and lower fee make it more accessible. Neither replaces a core equity holding.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
📋 DIVO vs JEPI — Key Facts Side by Side
| Metric | DIVO | JEPI |
|---|---|---|
| Fund Name | Amplify CWP Enhanced Dividend Income ETF | JPMorgan Equity Premium Income ETF |
| Issuer | Capital Group | JPMorgan |
| Tracks Index | Active (Dividend + Selective Covered Calls) | Active (S&P 500 + ELNs) |
| Expense Ratio | 0.55% | 0.35% ✓ |
| Cost per $10K/yr | $55.00 | $35.00 |
| AUM | $7.2B | $44.7B |
| Holdings | 25 | 120 |
| Inception | 2016 | 2020 |
| 1-Year Return | +8.40% | -0.12% |
| 3-Year Return | +15.54% | +9.56% |
| 5-Year Return | +10.63% | +7.39% |
| Dividend Yield | 2.26% | 8.11% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.02% | 0.01% |
Expense ratio, AUM, and returns updated Jul 14, 2026 from ETF BFF database. Returns are annualised. Not investment advice.
📊 DIVO vs JEPI — Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- already use Capital Group and prefer staying within one fund family
- want the lowest fees: saves ~$20/yr per $10K vs DIVO
- want broader diversification (120 holdings vs 25)
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
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❓ DIVO vs JEPI — Frequently Asked Questions
New to ETF investing? See answers to the most common ETF questions →