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.
FYEE has outpaced JEPI over the trailing twelve months, posting a 18.04% total return against 8.18%. Measured from Apr 2024 — the start of shared available history — FYEE has compounded at 17.21% a year versus 8.16% for JEPI. JEPI has been the steadier holding, though — annualized volatility of 8.1% against 10.7% for FYEE. 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 22, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Apr 2024” measures every fund from April 11, 2024 — 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 past year. 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 past year) — 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.
Large-cap U.S. equity sleeve complemented by written call and put spreads for additional yield.
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Objective
Actively managed strategy seeking elevated monthly income with equity participation.
Combines a diversified U.S. large-cap portfolio with a systematic options overlay.
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.
Bottom lineChoose FYEE if you are comfortable trading away most upside for a large, steady payout. Choose JEPI if you want broad equity exposure. FYEE and JEPI both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
FYEE vs JEPI: Fidelity overlay or JPMorgan premium income?
Both sell some large-cap upside for cash. FYEE is Fidelity's yield-enhanced overlay; JEPI is JPMorgan's equity premium income fund.
FYEE
JEPI
Issuer
Fidelity
JPMorgan
Expense ratio
0.28%
0.35%
Distribution rate
7.39%
7.87%
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. FYEE 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.
Fidelity Investments is one of the largest asset managers globally and maintains a substantial presence in the ETF market with a diverse lineup spanning multiple investment strategies. Their offerings cover a wide spectrum of approaches including traditional dividend and income strategies, factor-based and thematic investing, international equity exposure, bond allocations, and index-tracking funds. The issuer is known for both broad market accessibility and specialized strategies, serving investors across various risk profiles and investment objectives.
See our curated list of related YouTube videos on FYEE.
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.
FYEE (Fidelity Yield Enhanced Equity ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both dividend ETFs, but they take different approaches.
JEPI offers the higher yield at 7.87% vs 7.39% for FYEE. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
FYEE is cheaper with an expense ratio of 0.28% compared to 0.35%.
JEPI is the larger fund by assets ($45.3B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose FYEE
Fidelity Yield Enhanced Equity ETF
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.28% expense ratio vs 0.35% for JEPI.
Choose JEPI
JPMorgan Equity Premium Income ETF
Want broad equity exposure.
Prefer lower volatility — a beta of 0.4 vs 0.8 for FYEE.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track FYEE & JEPI for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, FYEE would generate roughly $184.75 cash per distribution, while JEPI would produce $65.58 cash per distribution, at current distribution rates.
FYEE yield7.39%
JEPI yield7.87%
Cash diff on $10K$119.17
Cost & efficiency
Over 10 years on $10,000, FYEE would cost approximately $280 in fees vs $350 for JEPI (simplified, not compounded). The $70.00 difference may be offset by yield or performance.
FYEE ER0.28%
JEPI ER0.35%
Strategy & risk
FYEE is actively managed around Large-cap U.S. equity sleeve complemented by written call and put spreads for additional yield. exposure with an active approach, while JEPI is an actively managed ETF built around a derivative overlay strategy. Beta is 0.774 for FYEE and 0.43 for JEPI, making JEPI the less volatile of the two by this measure.
FYEE beta0.774
JEPI beta0.43
Fund details
FYEE is managed by Fidelity Investments (launched 04/09/2024) with $286M in assets. JEPI is managed by JPMorgan (launched 05/20/2020) with $45.3B in assets.
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Frequently asked questions
Is FYEE the Fidelity equivalent of JEPI?
FYEE (Fidelity Yield Enhanced Equity ETF) is Fidelity's yield-enhanced large-cap overlay. JEPI (JPMorgan Equity Premium Income ETF) is JPMorgan's equity premium income fund. Both sell some upside for cash, but the sleeve and overwrite differ. Cost is 0.28% versus 0.35%; distributions are 7.39% and 7.87% as of September 2026. Overlay recipe, not a one-date yield, is the decision.
What is the current distribution rate for FYEE and JEPI?
FYEE currently distributes 7.39% and JEPI 7.87%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is FYEE 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.
Can I hold both FYEE 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 FYEE 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 — FYEE scores 84, JEPI scores 75, so FYEE's payout currently looks the more resilient of the two. JEPI has also shown lower price volatility (beta 0.43 vs 0.77 for FYEE). 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, FYEE or JEPI?
FYEE has an expense ratio of 0.28% 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 FYEE vs JEPI generate?
At current rates, $10,000 in FYEE would generate roughly $184.75 cash per distribution ($739.00 annually). The same in JEPI would produce about $65.58 cash per distribution ($787.00 annually).
Which has performed better historically, FYEE or JEPI?
FYEE has outpaced JEPI over the trailing twelve months, posting a 18.04% total return against 8.18%. Measured from Apr 2024 — the start of shared available history — FYEE has compounded at 17.21% a year versus 8.16% for JEPI. JEPI has been the steadier holding, though — annualized volatility of 8.1% against 10.7% for FYEE. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
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