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ETF Comparison

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

A head-to-head comparison of Amplify CWP Enhanced Dividend Income ETF and JPMorgan Nasdaq Equity Premium Income ETF covering yield, cost, risk, and income potential.

Data updated August 25, 2026

Best for

  • DIVOInvestors who want broad equity exposure.
  • JEPQInvestors who want to maximize current income — roughly 14.24%, generated by selling options premium.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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

Total returns

DIVO has lagged JEPQ over the trailing twelve months, posting a 19.44% total return against 19.50%. The lead holds up over 3 years too: JEPQ has compounded at 20.22% a year, against 17.20% for DIVO. DIVO has been the steadier holding, though — annualized volatility of 10.8% 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.
SymbolYTD1Y3YSince May 2022Volatility Sharpe Sortino Max drawdown
DIVO12.01%19.44%17.20%12.32%10.8%1.071.56-12.1%
JEPQ9.56%19.50%20.22%15.65%15.6%0.901.27-20.1%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 24, 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricDIVOJEPQ
Full nameAmplify CWP Enhanced Dividend Income ETFJPMorgan Nasdaq Equity Premium Income ETF
IssuerAmplify ETFsJPMorgan
Last Close$48.68 as of August 25, 2026$59.42 as of August 25, 2026
Distribution yield4.63%14.24%
Distribution Safety Score™ 9390
Expense ratio0.56%0.35%
AUM$7.86B$41.4B
Distribution frequencyMonthlyMonthly
Underlying index—Nasdaq-100
ObjectiveSeeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying U.S. exchange-traded equity securities while opportunistically utilizing covered call options on those securities.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 date12/14/201605/03/2022
Beta0.540.8
Last dividend$0.1880$0.7050
Ex-dividend date07/30/202608/03/2026

Bottom lineChoose DIVO if you want broad equity exposure. Choose JEPQ if you want to maximize current income — roughly 14.24%, 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 DIVO 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. 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.

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

Model this comparison:
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Income calculator

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

Amplify ETFs
ETFs46
Total AUM$16.7B

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

Amplify ETFs is known for offering specialized, thematic investment solutions across diverse market segments including digital assets, commodities, and dividend strategies. The issuer's lineup spans multiple fund families covering income-focused strategies, covered call approaches, commodity exposure, and thematic sectors such as cybersecurity, blockchain, gaming, and sustainable investing. Notable for tickers like BLOK (blockchain), HACK (cybersecurity), and DIVO (dividend), Amplify combines traditional income strategies with alternative themes and emerging asset classes, appealing to investors seeking both yield and exposure to innovation-driven sectors.

See our curated list of related YouTube videos on DIVO.

See all Amplify ETFs ETFs
JPMorgan
ETFs78
Total AUM$344B

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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Quick verdict

DIVO (Amplify CWP Enhanced Dividend Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

JEPQ offers the higher yield at 14.24% vs 4.63% for DIVO. 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 0.56%.

JEPQ is the larger fund by assets ($41.4B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose DIVO

Amplify CWP Enhanced Dividend Income ETF

  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 0.5 vs 0.8 for JEPQ.

Choose JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

  • Want to maximize current income — JEPQ distributes roughly 14.24% from selling options premium, vs 4.63% for DIVO.
  • 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 0.56% for DIVO.

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, DIVO would generate roughly $38.58/month, while JEPQ would produce $118.67/month, at current distribution rates. Both pay monthly distributions.

DIVO yield4.63%
JEPQ yield14.24%
Monthly diff on $10K$80.08

Cost & efficiency

Over 10 years on $10,000, DIVO would cost approximately $560 in fees vs $350 for JEPQ (simplified, not compounded). The $210.00 difference may be offset by yield or performance.

DIVO ER0.56%
JEPQ ER0.35%

Strategy & risk

DIVO is an ETF built around a derivative overlay strategy, while JEPQ is actively managed around Nasdaq-100 exposure with a covered call approach. Beta is 0.54 for DIVO and 0.8 for JEPQ, making DIVO the less volatile of the two by this measure.

DIVO beta0.54
JEPQ beta0.8

Fund details

DIVO is managed by Amplify ETFs (launched 12/14/2016) with $7.86B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $41.4B in assets.

DIVO AUM$7.86B
JEPQ AUM$41.4B
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Frequently asked questions

What is the current distribution yield for DIVO and JEPQ?

DIVO currently distributes 4.63% and JEPQ 14.24%, 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 DIVO 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 DIVO and JEPQ?

DIVO (Amplify CWP Enhanced Dividend Income ETF) is an ETF built around a derivative overlay strategy, while JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) is actively managed around Nasdaq-100 exposure with a covered call approach. They are issued by Amplify ETFs and JPMorgan respectively.

Can I hold both DIVO 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 DIVO 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 — DIVO scores 93, JEPQ scores 90, so DIVO's payout currently looks the more resilient of the two. DIVO has also shown lower price volatility (beta 0.54 vs 0.80 for JEPQ). 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, DIVO or JEPQ?

DIVO has an expense ratio of 0.56% 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 DIVO vs JEPQ generate?

At current rates, $10,000 in DIVO would generate roughly $38.58 per month ($463.00 annually). The same in JEPQ would produce about $118.67 per month ($1,424.00 annually).

Which has performed better historically, DIVO or JEPQ?

DIVO has lagged JEPQ over the trailing twelve months, posting a 19.44% total return against 19.50%. The lead holds up over 3 years too: JEPQ has compounded at 20.22% a year, against 17.20% for DIVO. DIVO has been the steadier holding, though — annualized volatility of 10.8% against 15.6% for JEPQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DIVO vs JEPQ — at a glance

Generated August 15, 2026.

Overview

DIVO and JEPQ are both equity ETFs that generate income through covered call strategies, but they target very different investor profiles. DIVO invests in a diversified basket of dividend-paying U.S. stocks and overlays covered calls opportunistically; JEPQ focuses on Nasdaq-100 components and uses equity-linked notes to sell calls systematically for monthly income. The funds differ sharply in yield, underlying concentration, and options intensity.

How they differ

JEPQ's 13.98% distribution rate dwarfs DIVO's 4.66%, a gap driven by JEPQ's continuous call-selling against a concentrated Nasdaq-100 portfolio versus DIVO's opportunistic overlay on a diversified dividend basket. JEPQ also carries lower expenses (0.35% vs. 0.56%) and significantly larger AUM ($41.6B vs. $7.61B), reflecting its broader appeal since inception in May 2022. The structural difference runs deep: DIVO pairs dividend yield with selective call writing, while JEPQ subordinates equity upside to systematic income generation through structured notes tied to a tech-heavy index. Beta tells part of the story—DIVO's 0.54 suggests meaningful downside cushion in equity declines, while JEPQ's 0.8 indicates closer tracking to broader market moves despite the options drag.

Who each is best for

DIVO: Fits investors seeking monthly income from a broad dividend-focused equity portfolio who tolerate modest call-writing drag and want U.S. equity diversification with lower volatility sensitivity.

JEPQ: Designed for income-focused investors drawn to growth-oriented (Nasdaq-heavy) stocks who prioritize high current distribution and accept that systematic call selling will cap upside in strong rallies and that holdings lean toward technology and innovation sectors.

Key risks to know

  • NAV erosion at high yields. JEPQ's 13.98% distribution rate suggests meaningful return-of-capital treatment; sustained distributions above underlying earnings growth typically pressure net asset value over multi-year horizons.
  • Concentrated Nasdaq-100 exposure. JEPQ's portfolio is anchored to a narrow index dominated by mega-cap technology and growth names, creating sector concentration risk absent in DIVO's broader dividend-stock universe.
  • Capped upside from systematic call-selling. JEPQ's structured-note approach locks in calls continuously; in a sustained bull market, especially for Nasdaq leaders, JEPQ will lag an unhedged Nasdaq-100 position significantly.
  • Derivative and counterparty risk. Both funds rely on options mechanics; JEPQ's reliance on equity-linked notes introduces structured product counterparty exposure that DIVO's simpler covered-call overlay does not.
  • Performance gap in equity rallies. DIVO's lower beta (0.54 vs. JEPQ's 0.8) means it will underperform in strong bull markets, while JEPQ's call caps will suppress gains in tech-led advances.

Bottom line

JEPQ delivers far higher current income but at the cost of concentrated sector risk, likely NAV erosion, and capped upside—a tradeoff suited to investors prioritizing monthly cash flow over capital growth. DIVO offers steadier diversified dividend exposure with lower yield but also lower erosion risk and more balanced downside protection. Neither solves the core tension between high current yield and long-term capital preservation; the choice hinges on whether an investor values maximum income now or lower volatility and broader holdings.

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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