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ETF Comparison

JEPI vs JEPQ vs SCHD vs VYM: Which Is the Better Pick in 2026?

A side-by-side comparison of JPMorgan Equity Premium Income ETF, JPMorgan Nasdaq Equity Premium Income ETF, Schwab U.S. Dividend Equity ETF and Vanguard High Dividend Yield Index Fund ETF Shares covering yield, cost, risk, and income potential.

Data updated July 4, 2026

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 JEPI and JEPQ.

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Schwab
ETFs34
Total AUM$574B

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

Schwab is known for offering low-cost, broad-based ETFs that serve both core portfolio holdings and specialized investment strategies. Their 33-fund lineup spans multiple asset classes including bonds, equities, international markets, digital assets, and factor-based strategies, with a notable emphasis on dividend-focused funds like SCHD alongside core index options. The issuer emphasizes accessibility for individual investors through competitive expense ratios and a diverse range of fund families designed to support various investment objectives.

See our curated list of related YouTube videos on SCHD.

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Vanguard
ETFs115
Total AUM$4484B

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

Vanguard is known for offering low-cost, passively managed ETFs that emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.

See our curated list of related YouTube videos on VYM.

See all Vanguard ETFs

Side-by-side snapshot

JEPIJEPQSCHDVYM
Full nameJPMorgan Equity Premium Income ETFJPMorgan Nasdaq Equity Premium Income ETFSchwab U.S. Dividend Equity ETFVanguard High Dividend Yield Index Fund ETF Shares
IssuerJPMorganJPMorganSchwabVanguard
Last Close$56.71 as of July 4, 2026$59.39 as of July 4, 2026$32.39 as of July 4, 2026$159.48 as of July 4, 2026
Distribution yield8.19%12.86%3.12%2.46%
Distribution Safety Score7292100100
Expense ratio0.35%0.35%0.06%0.06%
AUM$44.3B$39.0B$95.2B$78.3B
Distribution frequencyMonthlyMonthlyQuarterlyQuarterly
Underlying indexSPXNASDAQ 100Dow Jones U.S. Dividend 100 IndexBasket (Vanguard High Dividend Yield ETF holdings)
ObjectiveCovered CallCovered CallSeeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 Index, which measures the performance of high dividend yielding stocks issued by U.S. companies with a record of consistently paying dividends, selected for fundamental strength relative to their peers based on financial ratios.Seeks to track the performance of the FTSE High Dividend Yield Index, which offers exposure to dividend-paying large-cap companies that exhibit value characteristics within the U.S. equity market. The index includes stocks with a history of paying above-average dividends.
Asset classEquityEquityEquityEquity
Inception date05/20/202005/03/202210/20/201111/10/2006
Beta0.450.770.590.7
Last dividend$0.3872$0.6366$0.2525$0.9800
Ex-dividend date07/01/202607/01/202606/24/202606/18/2026

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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

SCHD tops the group on trailing twelve-month total return at 23.16%, with JEPI at 7.46%, JEPQ at 21.66% and VYM at 20.72%. Across the 3-year window, JEPQ has the strongest compounding at 19.00% a year. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3YSince May 2022Volatility Sharpe Sortino Max drawdown
JEPI2.36%7.46%9.08%7.75%10.1%0.420.59-13.3%
JEPQ7.06%21.66%19.00%15.59%15.4%0.841.18-20.1%
SCHD17.79%23.16%13.81%8.97%13.1%0.650.94-16.1%
VYM10.82%20.72%17.36%12.03%12.5%0.921.34-14.5%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 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

JEPI (JPMorgan Equity Premium Income ETF), JEPQ (JPMorgan Nasdaq Equity Premium Income ETF), SCHD (Schwab U.S. Dividend Equity ETF), VYM (Vanguard High Dividend Yield Index Fund ETF Shares) are dividend ETFs that take different approaches.

JEPQ offers the highest reported yield at 12.86%, followed by JEPI at 8.19%, SCHD at 3.12%, VYM at 2.46%.

SCHD and VYM tie for the lowest expense ratio at 0.06%, compared to 0.35% for JEPI and 0.35% for JEPQ.

SCHD is the largest fund by assets ($95.2B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment: JEPI generates ~$68.25/month, JEPQ generates ~$107.17/month, SCHD generates ~$26.00/month, VYM generates ~$20.50/month at current distribution rates.

JEPI yield8.19%
JEPQ yield12.86%
SCHD yield3.12%
VYM yield2.46%

Cost & efficiency

Over 10 years on $10,000: JEPI costs ~$350, JEPQ costs ~$350, SCHD costs ~$60, VYM costs ~$60 in fees (simplified, not compounded).

JEPI ER0.35%
JEPQ ER0.35%
SCHD ER0.06%
VYM ER0.06%

Strategy & risk

JEPI tracks SPX with a covered call approach; JEPQ tracks NASDAQ 100 with a covered call approach; SCHD tracks Dow Jones U.S. Dividend 100 Index with a basket approach; VYM tracks Basket (Vanguard High Dividend Yield ETF holdings) with an index approach.

JEPI beta0.45
JEPQ beta0.77
SCHD beta0.59
VYM beta0.7

Fund details

JEPI is managed by JPMorgan (launched 05/20/2020) with $44.3B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $39.0B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $95.2B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $78.3B in assets.

JEPI AUM$44.3B
JEPQ AUM$39.0B
SCHD AUM$95.2B
VYM AUM$78.3B
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Frequently asked questions

Which of JEPI, JEPQ, SCHD, and VYM is best for dividend income?

It depends on your goals. JEPQ currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.

What is the difference between JEPI, JEPQ, SCHD, and VYM?

JEPI (JPMorgan Equity Premium Income ETF) tracks SPX with a covered call approach, issued by JPMorgan. JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) tracks NASDAQ 100 with a covered call approach, issued by JPMorgan. SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index with a basket approach, issued by Schwab. VYM (Vanguard High Dividend Yield Index Fund ETF Shares) tracks Basket (Vanguard High Dividend Yield ETF holdings) with an index approach, issued by Vanguard.

Can I hold JEPI, JEPQ, SCHD, and VYM together?

Yes. Many income investors hold multiple dividend ETFs to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has the lowest fees among JEPI, JEPQ, SCHD, and VYM?

JEPI has an expense ratio of 0.35%, JEPQ has an expense ratio of 0.35%, SCHD has an expense ratio of 0.06%, VYM has an expense ratio of 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 generate in each?

$10,000 in JEPI yields ~$68.25/month ($819.00/year). $10,000 in JEPQ yields ~$107.17/month ($1,286.00/year). $10,000 in SCHD yields ~$26.00/month ($312.00/year). $10,000 in VYM yields ~$20.50/month ($246.00/year).

More comparisons to explore

JEPI vs JEPQ vs SCHD vs VYM — at a glance

Generated July 2026 from current fund data.

Overview

These four funds span two distinct income strategies within U.S. equities: covered-call overlays that harvest option premium (JEPI and JEPQ), and traditional dividend-tracking indexes (SCHD and VYM). The covered-call funds target SPX and NASDAQ 100 respectively, exchanging upside capture for elevated monthly income. The dividend funds seek stable quarterly yields from large-cap stocks with dividend histories, using different selection criteria and benchmarks.

How they differ

The fundamental split is structural: JEPI and JEPQ overlay call-selling onto equity holdings to generate distribution yields of 8.19% and 12.86% respectively, while SCHD and VYM hold dividend-paying stocks directly, yielding 3.12% and 2.46%. This explains the beta divergence—JEPI's 0.45 beta shows how call-writing caps upside participation during rallies, whereas VYM's 0.70 beta reflects closer alignment with market moves. Between the covered-call pair, JEPQ's higher yield comes from trading Nasdaq 100 exposure (beta 0.77) versus SPX (beta 0.45), accepting greater volatility for premium income. On the dividend side, SCHD and VYM are structurally similar—both index-tracking with 0.06% fees and quarterly distributions—but differ in index construction: SCHD selects from the Dow Jones Dividend 100 (companies with consistent dividend records and financial strength), while VYM tracks the FTSE High Dividend Yield Index (value-oriented dividend payers). SCHD's 3.12% yield suggests a tilt toward higher-yielding names, versus VYM's broader value blend at 2.46%.

Who each is best for

  • JEPI: Fits income-focused investors who want steady monthly cash flow from S&P 500 exposure and are comfortable accepting capped upside and NAV volatility in exchange for high current yield.
  • JEPQ: Fits growth-income blend investors who seek technology-heavy (Nasdaq 100) exposure combined with aggressive monthly distributions, and have moderate-to-high risk tolerance for drawdown and NAV fluctuation.
  • SCHD: Fits long-term investors prioritizing capital appreciation alongside dividend income, with preference for large-cap stocks screened for both yield consistency and fundamental quality, and lower sensitivity to income-timing risk.
  • VYM: Fits total-return investors seeking broad large-cap value exposure with a dividend tilt, lower costs, and a longer track record, prioritizing simplicity and capital stability over current yield.

Key risks to know

  • NAV erosion at high distribution yields (JEPI, JEPQ): Monthly distributions totaling 8–13% annually require either ongoing option premium capture or capital drawdown. If Nasdaq 100 or SPX implied volatility declines, premium income shrinks, and funds may rely increasingly on return-of-capital, eroding share price over time.
  • Call capping limits upside (JEPI, JEPQ): By selling calls, these funds forgo gains above strike prices. In sustained market rallies, this caps total return below the underlying index—a drag that accumulates and may outweigh high income in bull markets.
  • Volatility dependency (JEPQ vs. JEPI): JEPQ's higher beta (0.77 vs. JEPI's 0.45) and Nasdaq 100 focus expose it to sharper NAV swings during tech selloffs, while call premium income may not fully offset equity losses in prolonged downturns.
  • Index composition concentration (SCHD): The Dow Jones Dividend 100 screen for consistency and financial strength may tilt the portfolio toward fewer, larger names or particular sectors, reducing diversification relative to broader market indexes.
  • Dividend cut risk (SCHD, VYM): Companies held for high or consistent dividend payments can reduce or suspend distributions during economic downturns, cutting both income and capital value. SCHD's tighter quality filter may offer some mitigation, but cannot eliminate this risk.

Bottom line

If you prioritize current income and accept capped upside, JEPI or JEPQ deliver 8–13% yields and lower beta volatility via call-writing—though NAV erosion is a real concern if volatility declines or distributions exceed sustainable premium. If you prefer traditional dividend growth and stable capital, SCHD and VYM offer 2–3% yields, minimal fees, and simpler mechanics, with SCHD's quality tilt potentially offering slightly more resilient dividend streams than VYM's pure value approach. Past performance does not guarantee future results; covered-call income and dividend sustainability depend on market conditions that may differ from historical norms.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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