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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 9, 2026

iShares
ETFs481
Total AUM$4452B

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

DGROJEPQ
Full nameiShares Core Dividend Growth ETFJPMorgan Nasdaq Equity Premium Income ETF
IssueriSharesJPMorgan
Last Close$76.92 as of July 9, 2026$60.24 as of July 9, 2026
Distribution yield1.72%12.68%
Distribution Safety Score 9792
Expense ratio0.08%0.35%
AUM$40.6B$39.0B
Distribution frequencyQuarterlyMonthly
Underlying indexBasket (Growth-focused dividend equity holdings by BlackRock)NASDAQ 100
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.Covered Call
Asset classEquityEquity
Inception date06/10/201405/03/2022
Beta0.680.78
Last dividend$0.3310$0.6366
Ex-dividend date06/15/202607/01/2026

Bottom lineChoose DGRO if you want broad equity exposure. Choose JEPQ if you want to maximize current income — roughly 12.68%, generated by selling options premium. There's no free lunch: JEPQ's payout comes from selling options, which caps upside and can erode the share price over time, while DGRO keeps full price exposure.

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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 lagged JEPQ over the trailing twelve months, posting a 21.36% total return against 22.62%. The lead holds up over 3 years too: JEPQ has compounded at 19.72% a year, against 17.30% for DGRO. DGRO has been the steadier holding, though — annualized volatility of 11.8% against 15.5% for JEPQ. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3YSince May 2022Volatility Sharpe Sortino Max drawdown
DGRO11.20%21.36%17.30%12.24%11.8%0.981.42-14.0%
JEPQ8.59%22.62%19.72%15.91%15.5%0.881.24-20.1%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 9, 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 12.68% vs 1.72% 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.

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 JEPQ.

Choose JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

  • Want to maximize current income — JEPQ distributes roughly 12.68% from selling options premium, vs 1.72% for DGRO.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

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 $14.33/month, while JEPQ would produce $105.67/month, at current distribution rates.

DGRO yield1.72%
JEPQ yield12.68%
Monthly diff on $10K$91.33

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 0.68 for DGRO and 0.78 for JEPQ, indicating DGRO is less volatile relative to the market.

DGRO beta0.68
JEPQ beta0.78

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 $14.33 per month ($172.00 annually). The same in JEPQ would produce about $105.67 per month ($1,268.00 annually).

Which has performed better historically, DGRO or JEPQ?

DGRO has lagged JEPQ over the trailing twelve months, posting a 21.36% total return against 22.62%. The lead holds up over 3 years too: JEPQ has compounded at 19.72% a year, against 17.30% for DGRO. DGRO has been the steadier holding, though — annualized volatility of 11.8% against 15.5% for JEPQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DGRO vs JEPQ — at a glance

Generated July 2026 from current fund data.

Overview

DGRO is a broad-market dividend growth fund tracking the Morningstar U.S. Dividend Growth Index, holding companies with consistent dividend-growth history and payout ratios below 75%. JEPQ is a covered-call overlay on the NASDAQ 100, selling call options against its tech-heavy holdings to generate monthly income. The key distinction: DGRO seeks capital appreciation through dividend growers, while JEPQ trades upside capture for high current yield through systematic option sales.

How they differ

The core strategy difference is stark. DGRO holds dividend-growth equities and distributes a modest 1.71% yield quarterly; JEPQ sells covered calls against NASDAQ 100 stocks and distributes 12.86% monthly—a yield spread of over 11 percentage points. DGRO has a lower expense ratio (0.08% vs. 0.35%) and is substantially larger at $40.6B in AUM compared to JEPQ's $39.0B. Both have similar beta (DGRO 0.7, JEPQ 0.77), but that similarity masks a crucial difference: DGRO's lower beta reflects exposure to slower-growing dividend stocks; JEPQ's beta reflects capped upside—call-option premiums dampen gains if NASDAQ 100 rallies hard.

Who each is best for

DGRO: Fits investors seeking steady capital growth paired with reinvested or modest current income, with a time horizon of 5+ years and comfort with equity market beta of around 0.7.

JEPQ: Fits investors prioritizing current monthly income over long-term appreciation, willing to accept capped upside in exchange for elevated yield, and comfortable with the mechanics and tax treatment of covered-call strategies.

Key risks to know

  • Dividend-cut risk (DGRO). The fund's screening for consistent dividend growers and low payout ratios reduces but does not eliminate the risk that holdings will cut or suspend dividends during economic slowdowns, reducing both income and principal value.
  • NAV erosion at 12%+ yields (JEPQ). A distribution rate of 12.86% exceeds typical long-term equity returns; the fund likely relies on return-of-capital and principal decay. Comparing NAV growth to price appreciation will reveal whether distributions are funded from gains or principal drawdown.
  • Capped upside and call assignment (JEPQ). If NASDAQ 100 rallies significantly, JEPQ's call options will be exercised, capping gains and forcing liquidation of appreciated holdings at strike price. Investors forgo outsized rallies in exchange for premium income.
  • Tech and concentration risk (JEPQ). The NASDAQ 100 is heavily weighted to software, semiconductors, and mega-cap AI-linked names. A sector correction or multiple contraction hits JEPQ harder than a broader portfolio, and covered calls do not cushion downside below strike prices.
  • Expense-ratio drag and tax inefficiency (JEPQ). The 0.35% expense ratio is four times higher than DGRO's. Monthly distributions trigger frequent taxable events (short-term capital gains and return-of-capital treatment), a disadvantage versus DGRO's quarterly dividend income in most market regimes.

Bottom line

DGRO and JEPQ serve opposite investor needs. If you value long-term compounding through reinvested dividends and lower costs, DGRO's simplicity and 0.08% fee stand out. If you prioritize monthly income and accept capped appreciation as the tradeoff, JEPQ's 12.86% yield may justify the higher fee and tax complexity—but verify the fund's NAV trend to confirm whether distributions sustain principal or deplete it. 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.

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