⚖️ JEPI vs JEPQ Comparison · Free & No Signup

JEPI vs JEPQ: Two High-Yield ETFs, Different Underlying Bets

Name: JEPI vs JEPQ: expense ratio, index, holdings and returns
Creator: ETF BFF
License: https://etfbff.com/about/

Same 0.35% fee, similar monthly income, but very different stock exposure. JEPI is built on the S&P 500; JEPQ is built on the Nasdaq-100.

🔬 Compare top 10 holdings → 💡 Plain-English verdict

🤝 BFF Take

Same Covered Call Strategy — Choose Based on Your Stock Preference

JEPI (launched 2020) and JEPQ (launched 2022) are both actively managed covered call ETFs from JPMorgan that sell equity-linked notes to generate monthly income. Both charge 0.35% and typically yield 6–10% annually, depending on market volatility. The key difference is the underlying stock portfolio: JEPI holds a defensive selection of large-cap S&P 500 stocks, tilting toward lower-volatility names; JEPQ holds Nasdaq-100 stocks, which means more tech concentration and higher growth potential — but more downside risk. JEPI is more defensive; JEPQ is more aggressive. If you want income with a growth tilt and can stomach tech volatility, JEPQ. If you want income with lower drawdowns and a broad-market foundation, JEPI. Both are tools for income generation, not long-term wealth compounding — understand that the high yield comes at the cost of capped upside.

📋 Quick Takeaways

💰Equal cost — both charge 0.35%/yr (~$35/yr per $10K). High relative to passive ETFs, but typical for actively managed income funds.

🔀JEPI = S&P 500 base (defensive); JEPQ = Nasdaq-100 base (tech-heavy, higher growth & volatility)

⚠️High yield (6–10%) means capped upside — in strong bull markets, both will underperform a simple index fund

Both funds trade commission-free at every major brokerage. Where to buy them →

✓ ETF BFF Editorial Team · Data as of Oct 15, 2026 · Educational only, not financial advice

JEPI

JPMorgan Equity Premium Income ETF

Expense Ratio

0.35%

1-Year Return

+0.0%

AUM

$45.3B

Holdings

135

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

Expense Ratio

0.35%

1-Year Return

+4.9%

AUM

$44.3B

Holdings

📋 JEPI vs JEPQ: Key Facts Side by Side

Metric	JEPI	JEPQ
Fund Name	JPMorgan Equity Premium Income ETF	JPMorgan Nasdaq Equity Premium Income ETF
Issuer	JPMorgan	JPMorgan
Tracks Index	Actively Managed	Actively Managed (Nasdaq-focused)
Expense Ratio	0.35%	0.35%
Cost per $10K/yr	$35.00	$35.00
AUM	$45.3B	$44.3B
Holdings	135	95
Inception	2020	2022
1-Year Return	+0.00%	+4.87%
3-Year Return	+10.54%	+21.34%
5-Year Return	+7.80%	—
Dividend Yield	8.16%	11.05%
Holdings Overlap	See holdings overlap →
Avg Bid-Ask Spread	1.00%	1.00%

AUM and returns updated Oct 15, 2026 from ETF BFF database; expense ratios verified against issuer filings. Returns are annualised. Not investment advice.

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📊 JEPI vs JEPQ: Annualised Returns

Annualised returns (trailing, price-based). Past performance does not guarantee future results.

🎯 Which Fund Fits Which Investor?

Often fits investors who...

JEPI

want broader diversification (135 holdings vs 95)

Often fits investors who...

JEPQ

want the specific exposure defined by the Actively Managed (Nasdaq-focused)

💰 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.

Investment amount$ Years held Expected annual return%

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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❓ JEPI vs JEPQ: Frequently Asked Questions

What is the difference between JEPI and JEPQ?

Both JEPI and JEPQ are actively managed covered call ETFs from JPMorgan that generate monthly income by selling equity-linked notes (ELNs). The key difference is the underlying portfolio: JEPI holds a defensive selection of S&P 500 stocks with a lower-volatility tilt, while JEPQ holds Nasdaq-100 stocks, which are more tech-heavy and growth-oriented. Both charge 0.35% and target similar yield ranges (6–10%), but JEPQ tends to offer higher income in volatile markets due to richer option premiums on Nasdaq stocks.

Is JEPI or JEPQ a better income ETF?

Neither is objectively "better" — they suit different risk profiles. JEPI is more suitable for income-focused investors who want lower volatility and a defensive portfolio foundation. JEPQ is better suited for investors who want higher income potential and are comfortable with Nasdaq-level tech concentration and larger drawdowns. In strong bull markets, both will underperform a plain index fund because the covered call strategy caps upside. In flat or slightly declining markets, both tend to outperform through income generation.

How much do JEPI and JEPQ pay in dividends?

JEPI and JEPQ both pay monthly distributions that vary based on market volatility and option premiums. JEPI typically yields 6–9% annually; JEPQ often yields 8–11%, with higher distributions when Nasdaq volatility is elevated. These are not guaranteed fixed payments — the distribution amount changes each month. High yields in calm markets may compress; yields may spike during volatile periods when option premiums are richer.

How are JEPI and JEPQ taxed?

Most of the income from JEPI and JEPQ is taxed as ordinary income rather than at the lower qualified-dividend rate. The bulk of each fund's distribution comes from the premium on the equity-linked notes (ELNs) that run the covered call strategy, and that premium is treated as ordinary income; only a smaller portion tends to be qualified dividends from the underlying stocks. Because of that, both funds are usually more tax-efficient inside a tax-advantaged account like a Roth or traditional IRA than in a taxable brokerage account, where the high yield can create a sizable ordinary-income tax bill. For many investors this tax treatment, not the headline yield, is the deciding factor between these funds and a plain qualified-dividend ETF.

Are JEPI and JEPQ safe investments?

JEPI and JEPQ are not "safe" in the traditional sense — they hold equity (stock) portfolios that can lose significant value in market downturns, as both demonstrated during 2022's sell-off. They are less volatile than pure equity ETFs due to the income buffer from covered calls, but they are not bond-equivalent stability. Their high yields attract investors seeking income, but those yields come with equity risk and capped upside. They are appropriate as an income allocation within a diversified portfolio, not as a safe cash alternative.

New to ETF investing? See answers to the most common ETF questions →

📄 JEPI & JEPQ Fact Sheets

JEPI Fact Sheet→ JEPQ Fact Sheet→

ℹ️ Data shown is for educational purposes and may not reflect the most current figures. Returns are trailing price-based and exclude dividend reinvestment. Past performance does not guarantee future results. ETF BFF is not a licensed financial advisor. This is not personalized financial advice.