ETF Comparison

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

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

Data updated July 4, 2026

iShares

ETFs481

Total AUM$4451B

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

ETFs74

Total AUM$282B

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

JPMorgan operates a diverse ETF lineup of 46 funds spanning bond, equity, factor, income, index, international, money market, municipal, and sector strategies, establishing itself as a broad-based player across multiple asset classes and investment approaches. The issuer is particularly known for its income-focused offerings, including popular tickers like JEPI (Equity Premium Income) and JEPQ (Equity Premium Income ETF), which employ covered call and options strategies to generate distributions. JPMorgan's portfolio ranges from core index and fixed income funds to specialized sector and international equity ETFs, positioning the firm to serve both income-seeking and growth-oriented investors across diversified markets.

See our curated list of related YouTube videos on JEPQ.

See all JPMorgan ETFs

Side-by-side snapshot

	DGRO	JEPQ
Full name	iShares Core Dividend Growth ETF	JPMorgan Nasdaq Equity Premium Income ETF
Issuer	iShares	JPMorgan
Last Close	$77.26 as of July 4, 2026	$59.39 as of July 4, 2026
Distribution yield	1.71%	12.86%
Distribution Safety Score	97	92
Expense ratio	0.08%	0.35%
AUM	$40.6B	$39.0B
Distribution frequency	Quarterly	Monthly
Underlying index	Basket (Growth-focused dividend equity holdings by BlackRock)	NASDAQ 100
Objective	Seeks 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.	Covered Call
Asset class	Equity	Equity
Inception date	06/10/2014	05/03/2022
Beta	0.7	0.77
Last dividend	$0.3310	$0.6366
Ex-dividend date	09/15/2026	07/01/2026

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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 JEPQ over the trailing twelve months, posting a 21.82% total return against 21.66%. The picture flips over 3 years, though — JEPQ has compounded at 19.00% a year, ahead of DGRO at 17.05%. DGRO has been the steadier holding, though — annualized volatility of 11.8% against 15.4% for JEPQ. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	3Y	Since May 2022	Volatility	Sharpe	Sortino	Max drawdown
DGRO	11.69%	21.82%	17.05%	12.42%	11.8%	0.96	1.40	-14.0%
JEPQ	7.06%	21.66%	19.00%	15.59%	15.4%	0.84	1.18	-20.1%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since May 2022” measures every fund from May 4, 2022 — 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 JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both dividend ETFs, but they take different approaches.

JEPQ offers the higher yield at 12.86% vs 1.71% 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 JEPQ tracks NASDAQ 100, which means their performance drivers differ.

DGRO is the larger fund by assets ($40.6B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, DGRO would generate roughly $14.25/month, while JEPQ would produce $107.17/month, at current distribution rates.

DGRO yield1.71%

JEPQ yield12.86%

Monthly diff on $10K$92.92

Cost & efficiency

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

DGRO ER0.08%

JEPQ ER0.35%

Strategy & risk

DGRO tracks Basket (Growth-focused dividend equity holdings by BlackRock) with a basket approach, while JEPQ tracks NASDAQ 100 with a covered call approach. Beta is 0.7 for DGRO and 0.77 for JEPQ, indicating DGRO is less volatile relative to the market.

DGRO beta0.7

JEPQ beta0.77

Fund details

DGRO is managed by iShares (launched 06/10/2014) with $40.6B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $39.0B in assets.

DGRO AUM$40.6B

JEPQ AUM$39.0B

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Frequently asked questions

Is DGRO or JEPQ better for dividend income?

It depends on your goals. JEPQ 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 JEPQ?

DGRO (iShares Core Dividend Growth ETF) tracks Basket (Growth-focused dividend equity holdings by BlackRock) with a basket approach, while JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) tracks NASDAQ 100 with a covered call approach. They are issued by iShares and JPMorgan respectively.

Can I hold both DGRO and JEPQ?

Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has lower fees, DGRO or JEPQ?

DGRO has an expense ratio of 0.08% 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 DGRO vs JEPQ generate?

At current rates, $10,000 in DGRO would generate roughly $14.25 per month ($171.00 annually). The same in JEPQ would produce about $107.17 per month ($1,286.00 annually).

Which has performed better historically, DGRO or JEPQ?

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DGRO vs JEPQ — at a glance

Generated June 2026 from current fund data.

Overview

DGRO and JEPQ are both equity ETFs with derivative overlays, but they pursue fundamentally different income strategies. DGRO tracks a broad index of U.S. dividend growers with modest capital appreciation and a 1.75% distribution yield; JEPQ sells covered calls against NASDAQ 100 holdings to generate a 11.40% distribution yield. The core tradeoff is dividend growth versus income maximization through options income.

How they differ

DGRO focuses on equity selection—holding companies with rising dividend histories and low payout ratios (under 75%)—while JEPQ uses a mechanical covered call overlay on the NASDAQ 100. That difference drives the yield gap: DGRO distributes 1.75% quarterly, while JEPQ's covered call strategy produces 11.40% monthly. JEPQ's higher yield comes from sold upside; it caps gains when called away and trades that potential price appreciation for premium income. DGRO carries a beta of 0.7, meaning it typically moves less than the broad market, whereas JEPQ's 0.77 beta and concentrated NASDAQ 100 exposure means it swings closer to tech momentum. DGRO's $40.6B in AUM dwarfs JEPQ's $39.0B despite JEPQ's newer inception (May 2022 versus June 2014), reflecting JEPQ's rapid asset growth around the covered call ETF trend.

Who each is best for

DGRO: Fits investors seeking long-term dividend growth with downside cushion, comfortable with lower current income in exchange for capital appreciation and dividend increases over decades.

JEPQ: Designed for investors prioritizing current monthly income over capital gains, with a time horizon measured in years rather than decades and acceptance that upside capture is capped at the call strike.

Key risks to know

NAV erosion at 11%+ distribution yields. JEPQ's 11.40% distribution requires sustained covered call premium capture. If NASDAQ 100 volatility contracts or call strike pricing tightens, distributions may compress, forcing the fund to rely on return-of-capital treatment to sustain payouts and eroding NAV over time.

Upside capture limit and call assignment. JEPQ's covered calls are rolled continuously; when the NASDAQ 100 rises sharply, holdings are called away at the strike price. Investors receive premium but forfeit the excess gains, whereas DGRO participates in full price appreciation. This asymmetry compounds over multi-year bull markets.

Concentration in growth and technology. JEPQ's NASDAQ 100 focus concentrates risk in large-cap growth and technology; DGRO's dividend-growth mandate is broader but still tilted toward quality. A sector drawdown (particularly tech) will hurt JEPQ more sharply given its higher beta and structural leverage through options.

Options volatility and rolling risk. JEPQ's call rolls depend on implied volatility assumptions. If IV collapses (a hallmark of complacent markets), premium shrinks and distributions fall. DGRO has no derivative rolling risk; dividend cuts are its main income risk.

Bottom line

DGRO appeals to buy-and-hold dividend investors seeking growth with minimal year-to-year distribution volatility; JEPQ targets current-income seekers comfortable trading upside for monthly cash. The 9.65 percentage-point yield difference reflects option premium income, not sustainable underlying growth—past distributions of JEPQ should not be projected forward unchanged.

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