ETF Comparison
JEPI vs JEPQ: Which Is the Better Pick in 2026?
A head-to-head comparison of JPMorgan Equity Premium Income ETF and JPMorgan Nasdaq Equity Premium Income ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| JEPI | JEPQ | |
|---|---|---|
| Full name | JPMorgan Equity Premium Income ETF | JPMorgan Nasdaq Equity Premium Income ETF |
| Issuer | JPMorgan | JPMorgan |
| Price | $56.41 | $55.52 |
| Distribution yield | 7.91% | 10.58% |
| Expense ratio | 0.35% | 0.35% |
| AUM | $45.0B | $34.6B |
| Distribution frequency | Monthly | Monthly |
| Underlying index | SPX | NASDAQ 100 |
| Objective | Covered Call | Covered Call |
| Asset class | Equity | Equity |
| Inception date | 05/20/2020 | 05/03/2022 |
| Beta | 0.51 | 0.79 |
| Last dividend | $0.42 | $0.56 |
| Ex-dividend date | 04/01/2026 | 04/01/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
JEPI (JPMorgan Equity Premium Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both popular monthly-pay covered call ETFs, but they take different approaches.
JEPQ offers the higher yield at 10.58% vs 7.91% for JEPI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
They track different benchmarks: JEPI is linked to SPX while JEPQ tracks NASDAQ 100, which means their performance drivers differ.
JEPI is the larger fund by assets ($45.0B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, JEPI would generate roughly $65.92/month while JEPQ would produce $88.17/month at current distribution rates. Both pay monthly distributions.
Cost & efficiency
Over 10 years on $10,000, JEPI would cost approximately $350 in fees vs $350 for JEPQ (simplified, not compounded). Both charge the same expense ratio.
Strategy & risk
JEPI tracks SPX with a covered call approach, while JEPQ tracks NASDAQ 100 using a covered call strategy. Beta is 0.51 for JEPI and 0.79 for JEPQ, indicating JEPI is less volatile relative to the market.
Fund details
JEPI is managed by JPMorgan (launched 05/20/2020) with $45.0B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $34.6B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is JEPI 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 JEPI and JEPQ?
JEPI (JPMorgan Equity Premium Income ETF) tracks SPX with a covered call strategy, while JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) tracks NASDAQ 100 with a covered call approach. They are issued by JPMorgan and JPMorgan respectively.
Can I hold both JEPI 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, JEPI or JEPQ?
JEPI has an expense ratio of 0.35% 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 JEPI vs JEPQ generate?
At current yields, $10,000 in JEPI would generate roughly $65.92 per month ($791.00 annually). The same in JEPQ would produce about $88.17 per month ($1,058.00 annually).
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