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ETF Comparison

DGRO vs JEPI: Which Is the Better Pick in 2026?

A head-to-head comparison of iShares Core Dividend Growth ETF and JPMorgan Equity Premium Income ETF covering yield, cost, risk, and income potential.

Data updated August 13, 2026

Best for

  • DGROInvestors who want broad equity exposure.
  • JEPIInvestors who want higher current income (7.61% vs 1.66% for DGRO).

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.
MetricDGROJEPI
Full nameiShares Core Dividend Growth ETFJPMorgan Equity Premium Income ETF
IssueriSharesJPMorgan
Last Close$79.84 as of August 13, 2026$57.84 as of August 13, 2026
Distribution yield1.66%7.61%
Distribution Safety Score™ 10075
Expense ratio0.08%0.35%
AUM$43.4B$45.8B
Distribution frequencyQuarterlyMonthly
Underlying indexBasket (Growth-focused dividend equity holdings by BlackRock)SPX
ObjectiveSeeks to track the investment results of the Morningstar U.S. Dividend Growth Index, which measures the performance of U.S. equities with a history of consistently growing dividends. Companies must have a payout ratio less than 75% and are excluded if in the top decile based on dividend yield.Seeks monthly income and lower volatility than the broad U.S. large-cap market by combining an actively managed portfolio of equities with equity-linked notes that sell call options on the S&P 500 Index.
Asset classEquityEquity
Inception date06/10/201405/20/2020
Beta0.670.43
Last dividend$0.3310$0.3666
Ex-dividend date06/15/202608/03/2026

Bottom lineChoose DGRO if you want broad equity exposure. Choose JEPI if you want higher current income (7.61% vs 1.66% for DGRO).

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Income calculator

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

iShares
ETFs469
Total AUM$4661B

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

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on DGRO.

See all iShares 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 JEPI.

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

DGRO has outpaced JEPI over the trailing twelve months, posting a 25.25% total return against 11.10%. The lead holds up over 5 years too: DGRO has compounded at 11.20% a year, against 7.36% for JEPI. 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.
SymbolYTD1Y3Y5YSince May 2020Volatility Sharpe Sortino Max drawdown
DGRO15.42%25.25%17.70%11.20%16.21%11.8%1.011.46-14.0%
JEPI5.12%11.10%9.44%7.36%11.39%10.2%0.450.63-13.3%

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 May 2020” measures every fund from May 21, 2020 — 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 trailing 3 years. 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 trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

DGRO (iShares Core Dividend Growth ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both dividend ETFs, but they take different approaches.

JEPI offers the higher yield at 7.61% vs 1.66% for DGRO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

DGRO is cheaper with an expense ratio of 0.08% compared to 0.35%.

They track different benchmarks: DGRO is linked to Basket (Growth-focused dividend equity holdings by BlackRock) while JEPI tracks SPX, which means their performance drivers differ.

JEPI is the larger fund by assets ($45.8B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose DGRO

iShares Core Dividend Growth ETF

  • Want broad equity exposure.
  • Want to keep costs low — a 0.08% expense ratio vs 0.35% for JEPI.

Choose JEPI

JPMorgan Equity Premium Income ETF

  • Want higher current income — JEPI yields 7.61% vs 1.66% for DGRO.
  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 0.4 vs 0.7 for DGRO.

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, DGRO would generate roughly $13.83/month, while JEPI would produce $63.42/month, at current distribution rates.

DGRO yield1.66%
JEPI yield7.61%
Monthly diff on $10K$49.58

Cost & efficiency

Over 10 years on $10,000, DGRO would cost approximately $80 in fees vs $350 for JEPI (simplified, not compounded). The $270.00 difference may be offset by yield or performance.

DGRO ER0.08%
JEPI ER0.35%

Strategy & risk

DGRO tracks Basket (Growth-focused dividend equity holdings by BlackRock), while JEPI is actively managed around SPX exposure with a covered call approach. Beta is 0.67 for DGRO and 0.43 for JEPI, indicating JEPI is less volatile relative to the market.

DGRO beta0.67
JEPI beta0.43

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $43.4B in assets. JEPI is managed by JPMorgan (launched 05/20/2020) with $45.8B in assets.

DGRO AUM$43.4B
JEPI AUM$45.8B
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Frequently asked questions

What is the current distribution yield for DGRO and JEPI?

DGRO currently distributes 1.66% and JEPI 7.61%, 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 DGRO or JEPI better for dividend income?

It depends on your goals. JEPI 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 DGRO and JEPI?

DGRO (iShares Core Dividend Growth ETF) tracks Basket (Growth-focused dividend equity holdings by BlackRock), while JEPI (JPMorgan Equity Premium Income ETF) is actively managed around SPX exposure with a covered call approach. They are issued by iShares and JPMorgan respectively.

Can I hold both DGRO and JEPI?

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 DGRO or JEPI safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — DGRO scores 100, JEPI scores 75, so DGRO's payout currently looks the more resilient of the two. JEPI has also shown lower price volatility (beta 0.43 vs 0.67 for DGRO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, DGRO or JEPI?

DGRO has an expense ratio of 0.08% while JEPI charges 0.35%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in DGRO vs JEPI generate?

At current rates, $10,000 in DGRO would generate roughly $13.83 per month ($166.00 annually). The same in JEPI would produce about $63.42 per month ($761.00 annually).

Which has performed better historically, DGRO or JEPI?

DGRO has outpaced JEPI over the trailing twelve months, posting a 25.25% total return against 11.10%. The lead holds up over 5 years too: DGRO has compounded at 11.20% a year, against 7.36% for JEPI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DGRO vs JEPI — at a glance

Generated August 8, 2026.

Overview

DGRO is a broad, low-cost ETF tracking a dividend-growth index of U.S. equities with rising payout histories and conservative yield profiles. JEPI is an actively managed fund that layers call options on the S&P 500 over a stock portfolio to generate higher monthly income. The key distinction: DGRO seeks capital appreciation with modest dividend growth; JEPI prioritizes current income through systematic call-writing, accepting capped upside.

How they differ

DGRO tracks an index of dividend-growth stocks screened for sustainable payout ratios, while JEPI actively manages a core equity position and overlays short calls on the S&P 500 to harvest premium income. JEPI's 7.64% distribution rate dwarfs DGRO's 1.67%, reflecting option premium collection rather than underlying dividend growth—a structural difference that shows up in distribution frequency (JEPI monthly, DGRO quarterly) and cost (JEPI's 0.35% expense ratio versus DGRO's 0.08%). JEPI's lower beta (0.43 vs. DGRO's 0.68) reflects the volatility dampening from short calls, but this comes with a price: capped stock appreciation when the S&P 500 rallies sharply.

Who each is best for

DGRO: Fits investors building a diversified equity core who value consistent dividend growth without synthetic income structures, and who expect to hold for decades through market cycles.

JEPI: Designed for income-focused investors with moderate growth expectations who prioritize monthly cash distribution and accept that call-writing will limit participation in sustained bull markets.

Key risks to know

  • JEPI's call-cap risk. Short calls on the S&P 500 will limit upside during strong equity rallies; investors surrendering gains above the strike price is not a theoretical concern but the fund's intended trade-off. This is especially material if you expect sustained broad-market outperformance.
  • JEPI's NAV vulnerability at high distribution yields. A 7.64% annual yield significantly exceeds typical earnings growth and suggests reliance on option premium and potential return-of-capital, which can erode NAV over time if the underlying portfolio does not compound quickly enough to offset distributions.
  • DGRO's dividend-growth dependence. The index requires companies to sustain dividend growth and maintain sub-75% payout ratios; earnings recessions or dividend cuts among constituent names will hurt both capital return and the income profile.
  • JEPI's options-expiration risk. Equity-linked notes and short call mechanics introduce structural complexity; changes in volatility regimes or SPX price behavior could alter the economics of premium collection in ways that reduce income if realized volatility declines.
  • DGRO's lower current yield. At 1.67% distribution, DGRO's income does not keep pace with JEPI; investors seeking current cash flow will feel the gap, especially in a low-growth market environment.

Bottom line

DGRO offers dividend appreciation with minimal fees and broad equity upside; JEPI trades upside for higher monthly income through options leverage. If you're building wealth over decades and want dividend growth without synthetic income mechanics, DGRO's simplicity and low cost stand out. If you need near-term cash and accept capped capital gains, JEPI's monthly distribution is the trade-off—though the sustainability of its 7.64% yield depends on both equity returns and option-premium stability. Past performance does not predict 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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