DGRO tracks U.S. stocks with a history of growing dividends. JEPQ actively selects equities with substantial Nasdaq-100 exposure and uses equity-linked notes (ELNs) for option exposure. Their payout rates do not measure the same strategy.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
DGRO has lagged JEPQ over the trailing twelve months, posting a 13.61% total return against 19.73%. The lead holds up over 3 years too: JEPQ has compounded at 21.60% a year, against 17.92% for DGRO. DGRO has been the steadier holding, though — annualized volatility of 11.7% against 15.6% for JEPQ. 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since May 2022” measures every fund from May 4, 2022 — the start of shared available history — 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.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
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.
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.
Bottom lineChoose DGRO if you want dividend-growth selection and accept equity losses and dividend cuts. Choose JEPQ if you want active equities with ELN-based option income and accept the added risks. Distributions can change and may include return of capital. A payout rate is not total return, and tax character alone does not establish economic loss.
Dividend selection versus equity-linked option exposure
DGRO tracks U.S. stocks with a history of growing dividends. JEPQ actively selects equities with substantial Nasdaq-100 exposure and uses equity-linked notes (ELNs) for option exposure. Their payout rates do not measure the same strategy.
DGRO
JEPQ
Approach
Morningstar US Dividend Growth Index
Active equities and ELNs
Risk review
Equity losses and dividend cuts
Equity concentration and ELN issuer/liquidity risks
Expense ratio
0.08%
0.35%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
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. JEPQ generates 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.
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.
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.
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 13.37% vs 2.04% 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 have different reference exposures: DGRO is linked to Morningstar US Dividend Growth Index while JEPQ is linked to Nasdaq-100, which means their performance drivers differ.
JEPQ is the larger fund by assets ($43.9B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, DGRO would generate roughly $51.00 cash per distribution, while JEPQ would produce $111.42 cash per distribution, at current distribution rates.
DGRO yield2.04%
JEPQ yield13.37%
Cash diff on $10K$60.42
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 U.S. stocks with a history of growing dividends. JEPQ actively selects equities with substantial Nasdaq-100 exposure and uses equity-linked notes (ELNs) for option exposure. Their payout rates do not measure the same strategy. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
DGRO beta0.66
JEPQ beta0.81
Fund details
DGRO is managed by iShares (launched 06/10/2014) with $42.5B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $43.9B in assets.
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Frequently asked questions
Does JEPQ's higher payout establish a higher investment return?
No. Compare total returns over matching dates and inspect distribution sources. JEPQ's option exposure through ELNs adds issuer, valuation, and liquidity risks and can limit upside participation. DGRO's dividend history does not guarantee future increases or smaller losses. Neither payout is guaranteed.
How should I compare risk and ownership costs?
Use matching dates and definitions for returns, distributions, and fees. Beta describes historical benchmark sensitivity, not guaranteed downside protection. Check current bid-ask spreads and premiums or discounts; AUM alone does not determine the price available for your order.
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