A head-to-head comparison of Fidelity Yield Enhanced Equity ETF and JPMorgan Nasdaq Equity Premium Income ETF covering yield, cost, risk, and income potential.
Data updated August 5, 2026
Best for
FYEEInvestors who are comfortable trading away most upside for a large, steady payout.
JEPQInvestors who want to maximize current income — roughly 14.25%, generated by selling options premium.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Fidelity Investments is a major player in the ETF space, known for offering a comprehensive range of funds across diverse investment strategies and asset classes. Their lineup of 67 ETFs spans allocation, bond, dividend, equity, factor-based, income, index, international, and sector-focused strategies, with notable offerings including their Fidelity Factor and Fidelity Yield Enhanced families designed to capture specific market premiums and enhance income generation. The issuer serves both broad market investors and those seeking specialized exposure, with popular tickers like FBTC (their Bitcoin ETF) and various dividend and income-focused funds catering to different investor objectives and risk profiles.
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 JEPQ.
Large-cap U.S. equity sleeve complemented by written call and put spreads for additional yield.
NASDAQ 100
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 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 class
Equity
Equity
Inception date
04/09/2024
05/03/2022
Beta
0.774
0.78
Last dividend
$0.7320
$0.7050
Ex-dividend date
06/18/2026
08/03/2026
Bottom lineChoose FYEE if you are comfortable trading away most upside for a large, steady payout. Choose JEPQ if you want to maximize current income — roughly 14.25%, generated by selling options premium.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
FYEE has outpaced JEPQ over the trailing twelve months, posting a 22.90% total return against 21.54%. Measured from Apr 2024 — when the younger fund began trading — FYEE has compounded at 17.41% a year versus 16.39% for JEPQ. FYEE has been the steadier holding, though — annualized volatility of 10.6% against 14.7% for JEPQ. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 5, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Apr 2024” measures every fund from April 11, 2024 — 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 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.
Quick verdict
FYEE (Fidelity Yield Enhanced Equity ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both dividend ETFs, but they take different approaches.
JEPQ offers the higher yield at 14.25% vs 9.75% 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%.
They track different benchmarks: FYEE is linked to Large-cap U.S. equity sleeve complemented by written call and put spreads for additional yield. while JEPQ tracks NASDAQ 100, which means their performance drivers differ.
JEPQ is the larger fund by assets ($39.9B), which generally means tighter spreads and better 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 JEPQ.
Choose JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
Want to maximize current income — JEPQ distributes roughly 14.25% from selling options premium, vs 9.75% for FYEE.
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.
Still deciding? Track FYEE & JEPQ for free
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On a $10,000 investment, FYEE would generate roughly $81.25/month, while JEPQ would produce $118.75/month, at current distribution rates.
FYEE yield9.75%
JEPQ yield14.25%
Monthly diff on $10K$37.50
Cost & efficiency
Over 10 years on $10,000, FYEE would cost approximately $280 in fees vs $350 for JEPQ (simplified, not compounded). The $70.00 difference may be offset by yield or performance.
FYEE ER0.28%
JEPQ ER0.35%
Strategy & risk
FYEE tracks Large-cap U.S. equity sleeve complemented by written call and put spreads for additional yield. with an active approach, while JEPQ tracks NASDAQ 100 with a covered call approach. Beta is 0.774 for FYEE and 0.78 for JEPQ, indicating FYEE is less volatile relative to the market.
FYEE beta0.774
JEPQ beta0.78
Fund details
FYEE is managed by Fidelity Investments (launched 04/09/2024) with $218M in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $39.9B in assets.
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Frequently asked questions
What is the current distribution yield for FYEE and JEPQ?
FYEE currently distributes 9.75% and JEPQ 14.25%, 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 FYEE 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 FYEE and JEPQ?
FYEE (Fidelity Yield Enhanced Equity ETF) tracks Large-cap U.S. equity sleeve complemented by written call and put spreads for additional yield. with an active approach, while JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) tracks NASDAQ 100 with a covered call approach. They are issued by Fidelity Investments and JPMorgan respectively.
Can I hold both FYEE 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.
Which has lower fees, FYEE or JEPQ?
FYEE has an expense ratio of 0.28% 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 FYEE vs JEPQ generate?
At current rates, $10,000 in FYEE would generate roughly $81.25 per month ($975.00 annually). The same in JEPQ would produce about $118.75 per month ($1,425.00 annually).
Which has performed better historically, FYEE or JEPQ?
FYEE has outpaced JEPQ over the trailing twelve months, posting a 22.90% total return against 21.54%. Measured from Apr 2024 — when the younger fund began trading — FYEE has compounded at 17.41% a year versus 16.39% for JEPQ. FYEE has been the steadier holding, though — annualized volatility of 10.6% against 14.7% for JEPQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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