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ETF Comparison

AIPI vs JEPQ: Which Is the Better Pick in 2026?

A head-to-head comparison of REX SHARES AI Equity Premium Income ETF and JPMorgan Nasdaq Equity Premium Income ETF covering yield, cost, risk, and income potential.

Data updated August 13, 2026

Best for

  • AIPIInvestors who want to maximize current income — roughly 34.60%, generated by selling options premium.
  • JEPQInvestors who are comfortable trading away most upside for a large, steady payout.

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricAIPIJEPQ
Full nameREX SHARES AI Equity Premium Income ETFJPMorgan Nasdaq Equity Premium Income ETF
IssuerREX SharesJPMorgan
Last Close$37.42 as of August 13, 2026$60.00 as of August 13, 2026
Distribution yield34.60%14.10%
Distribution Safety Score™ 8390
Expense ratio0.65%0.35%
AUM$429M$39.9B
Distribution frequencyWeeklyMonthly
Underlying indexBasket (AI Stocks)NASDAQ 100
ObjectiveGenerates income by writing covered calls on a portfolio of artificial-intelligence focused equities while retaining core exposure to the theme.Seeks monthly income by combining an actively managed portfolio of equities drawn largely from the Nasdaq-100 Index with equity-linked notes that sell call options on that benchmark.
Asset classEquityEquity
Inception date06/04/202405/03/2022
Beta1.05550.8
Last dividend$0.2490$0.7050
Ex-dividend date08/12/202608/03/2026

Bottom lineChoose AIPI if you want to maximize current income — roughly 34.60%, generated by selling options premium. Choose JEPQ if you are comfortable trading away most upside for a large, steady payout. There's no free lunch: AIPI's payout comes from selling options, which caps upside and can erode the share price over time, while JEPQ keeps full price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Capped upside and premium dependence. AIPI and JEPQ generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

REX Shares
ETFs66
Total AUM$14.2B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

REX Shares is known for specializing in options-based and thematic ETF strategies, offering 23 funds organized across distinct families including Covered Call, IncomeMax Option Strategy, and MicroSectors products. The fund lineup emphasizes income generation through option strategies and sector-specific exposure, with holdings spanning technology, commodities, and alternative assets. REX Shares targets investors seeking non-traditional income approaches and concentrated sector bets, positioning itself in a niche segment focused on structured strategies rather than broad market indexing.

See our curated list of related YouTube videos on AIPI.

See all REX Shares ETFs
JPMorgan
ETFs76
Total AUM$333B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

JPMorgan is a major provider of ETFs spanning multiple asset classes and strategies, with particular strength in income-focused funds including their popular covered call strategy lineup. Their fund family encompasses broad categories including bond, equity, factor, income, index, international, municipal, and sector ETFs, providing investors with diverse exposure options across markets and investment styles. The issuer offers both core indexed strategies and actively managed solutions, serving investors seeking everything from traditional dividend income to sophisticated factor-based and thematic approaches.

See our curated list of related YouTube videos on JEPQ.

See all JPMorgan ETFs

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

AIPI has outpaced JEPQ over the trailing twelve months, posting a 22.52% total return against 21.39%. Measured from Jun 2024 — when the younger fund began trading — AIPI has compounded at 21.06% a year versus 17.34% for JEPQ. JEPQ has been the steadier holding, though — annualized volatility of 14.7% against 18.6% for AIPI. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1YSince Jun 2024Volatility Sharpe Sortino Max drawdown
AIPI14.00%22.52%21.06%18.6%0.851.22-14.4%
JEPQ10.63%21.39%17.34%14.7%1.021.46-8.8%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 12, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jun 2024” measures every fund from June 4, 2024 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

AIPI (REX SHARES AI Equity Premium Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both dividend ETFs, but they take different approaches.

AIPI offers the higher yield at 34.60% vs 14.10% for JEPQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

JEPQ is cheaper with an expense ratio of 0.35% compared to 0.65%.

They track different benchmarks: AIPI is linked to Basket (AI Stocks) while JEPQ tracks NASDAQ 100, which means their performance drivers differ.

JEPQ is the larger fund by assets ($39.9B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose AIPI

REX SHARES AI Equity Premium Income ETF

  • Want to maximize current income — AIPI distributes roughly 34.60% from selling options premium, vs 14.10% for JEPQ.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
  • Want to keep costs low — a 0.35% expense ratio vs 0.65% for AIPI.
  • Prefer lower volatility — a beta of 0.8 vs 1.1 for AIPI.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, AIPI would generate roughly $288.33/month, while JEPQ would produce $117.50/month, at current distribution rates.

AIPI yield34.60%
JEPQ yield14.10%
Monthly diff on $10K$170.83

Cost & efficiency

Over 10 years on $10,000, AIPI would cost approximately $650 in fees vs $350 for JEPQ (simplified, not compounded). The $300.00 difference may be offset by yield or performance.

AIPI ER0.65%
JEPQ ER0.35%

Strategy & risk

AIPI tracks Basket (AI Stocks) with an artificial intelligence (ai) approach, while JEPQ is actively managed around NASDAQ 100 exposure with a covered call approach. Beta is 1.0555 for AIPI and 0.8 for JEPQ, indicating JEPQ is less volatile relative to the market.

AIPI beta1.0555
JEPQ beta0.8

Fund details

AIPI is managed by REX Shares (launched 06/04/2024) with $429M in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $39.9B in assets.

AIPI AUM$429M
JEPQ AUM$39.9B
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Frequently asked questions

What is the current distribution yield for AIPI and JEPQ?

AIPI currently distributes 34.60% and JEPQ 14.10%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is AIPI or JEPQ better for dividend income?

It depends on your goals. AIPI currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between AIPI and JEPQ?

AIPI (REX SHARES AI Equity Premium Income ETF) tracks Basket (AI Stocks) with an artificial intelligence (ai) approach, while JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) is actively managed around NASDAQ 100 exposure with a covered call approach. They are issued by REX Shares and JPMorgan respectively.

Can I hold both AIPI and JEPQ?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is AIPI or JEPQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — JEPQ scores 90, AIPI scores 83, so JEPQ's payout currently looks the more resilient of the two. JEPQ has also shown lower price volatility (beta 0.80 vs 1.06 for AIPI). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, AIPI or JEPQ?

AIPI has an expense ratio of 0.65% while JEPQ charges 0.35%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in AIPI vs JEPQ generate?

At current rates, $10,000 in AIPI would generate roughly $288.33 per month ($3,460.00 annually). The same in JEPQ would produce about $117.50 per month ($1,410.00 annually).

Which has performed better historically, AIPI or JEPQ?

AIPI has outpaced JEPQ over the trailing twelve months, posting a 22.52% total return against 21.39%. Measured from Jun 2024 — when the younger fund began trading — AIPI has compounded at 21.06% a year versus 17.34% for JEPQ. JEPQ has been the steadier holding, though — annualized volatility of 14.7% against 18.6% for AIPI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

AIPI vs JEPQ — at a glance

Generated August 9, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

Both AIPI and JEPQ are equity ETFs that generate income by selling call options against underlying stock positions—a covered-call strategy wrapped in an ETF wrapper. The fundamental difference is their underlying exposure: AIPI targets artificial-intelligence stocks with a weekly payout cadence, while JEPQ tracks the Nasdaq-100 Index with monthly distributions. AIPI's 32.73% distribution rate is more than double JEPQ's 14.16%, reflecting a much more aggressive option-selling posture.

How they differ

AIPI's defining feature is its outsized yield: a 32.73% distribution rate versus JEPQ's 14.16%. That gap reflects deeper call-option writing (shorter-dated or lower-strike calls, or both) against concentrated AI-stock holdings. JEPQ, by contrast, uses equity-linked notes on the Nasdaq-100 to generate a more moderate, sustainable income stream; it's also far larger ($39.9B in AUM versus $429M) and has been in operation since May 2022, compared to AIPI's June 2024 launch. JEPQ's expense ratio of 0.35% is half AIPI's 0.65%, and its beta of 0.8 suggests lower equity-market sensitivity than AIPI's 1.0555, which moves closer to the broader market.

Who each is best for

AIPI: Fits investors seeking maximum current income from AI-sector exposure and willing to accept weekly distributions, compressed capital appreciation, and the risk of rapid NAV erosion if equity markets or AI valuations contract sharply.

JEPQ: Fits investors drawn to the Nasdaq-100's growth universe but prioritizing a steady, more modest monthly income stream; appeals to those comfortable sacrificing some upside for a larger asset base, lower fees, and a track record spanning multiple market cycles.

Key risks to know

  • NAV erosion at extreme yield levels. AIPI's 32.73% annualized distribution rate far exceeds historical equity-market returns and will almost certainly require return-of-capital treatment, eroding principal over time. Even a 14% yield on JEPQ implies meaningful capital depletion if underlying price appreciation does not match distributions.
  • Concentrated exposure and sector timing. AIPI's AI-stock basket is narrower and more vulnerable to sector sentiment shifts than JEPQ's Nasdaq-100 breadth; if AI enthusiasm cools, AIPI's optionality and premium collection may deteriorate faster.
  • Call-cap risk. Both funds cap upside by selling calls. In a strong rally, AIPI's weekly calls may roll down at progressively lower strikes, while JEPQ's monthly cadence offers slightly more protection per roll but still sacrifices material appreciation in a sustained run.
  • Early-fund risk and limited history. AIPI launched in June 2024 and has not experienced a full market cycle or volatility regime; its premium and NAV behavior in stress are untested.

Bottom line

AIPI chases maximum income from a concentrated AI theme with weekly cash flow and higher fees, but carries acute erosion risk and no operational track record. JEPQ offers a lower, more credible yield on a diversified large-cap tech platform with proven infrastructure and a lower cost structure. If you prioritize current income above all and accept rapid NAV decay, AIPI's yield stands out; if you want a balance of income and principal longevity within the tech space, JEPQ's design and scale offer more cushion. Past performance does not guarantee future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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