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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 May 20, 2026

JPMorgan
ETFs7
Total AUM$100.4B

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

JPMorgan offers a focused lineup of two income-focused ETFs designed to generate current yield through option-writing strategies. The firm's ETF portfolio centers on equity income products, with JEPI (Equity Premium Income ETF) and JEPQ (Nasdaq-100 Equity Premium Income ETF) serving as its flagship offerings that employ covered call strategies on U.S. equities. These funds represent JPMorgan's specialization in systematic income generation for investors seeking regular distributions alongside equity exposure.

See our curated list of related YouTube videos on JEPI and JEPQ.

See all JPMorgan ETFs
Schwab
ETFs16
Total AUM$446.3B

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

Schwab is known for offering low-cost, broadly accessible ETFs designed for individual investors seeking simplicity and affordability. The company's focused lineup of two ETFs targets complementary investment strategies: SCHD emphasizes dividend income for conservative investors, while SCHG pursues growth opportunities for those seeking capital appreciation. Both funds reflect Schwab's commitment to minimizing fees and providing straightforward core portfolio holdings.

See our curated list of related YouTube videos on SCHD.

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Vanguard
ETFs48
Total AUM$11763.3B

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 serve as core portfolio holdings for individual investors. Their fund lineup emphasizes core equity exposure and dividend income strategies, with offerings spanning domestic growth (VGT, VUG), broad market indices (VOO), dividend-focused portfolios (VYM, VIG), and international high dividend yield opportunities (VONG, VYMI). The issuer's seven funds are characterized by expense ratios among the industry's lowest and a focus on long-term, buy-and-hold investors seeking diversified equity exposure.

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$56.13 as of May 20, 2026$59.71 as of May 20, 2026$32.04 as of May 20, 2026$156.63 as of May 20, 2026
Distribution yield8.25%10.73%3.25%2.20%
Expense ratio0.35%0.35%0.06%0.04%
AUM$45.6B$37.7B$91.1B$94.6B
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
Beta0.480.760.610.73
Last dividend$0.45$0.59$0.26$0.86
Ex-dividend date05/01/202605/01/202603/25/202603/20/2026

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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.

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 popular dividend ETFs that take different approaches.

JEPQ offers the highest reported yield at 10.73%, followed by JEPI at 8.25%, SCHD at 3.25%, VYM at 2.20%.

VYM is the cheapest with an expense ratio of 0.04%, compared to 0.06% for SCHD and 0.35% for JEPI and 0.35% for JEPQ.

VYM is the largest fund by assets ($94.6B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment: JEPI generates ~$68.75/month, JEPQ generates ~$89.42/month, SCHD generates ~$27.08/month, VYM generates ~$18.33/month at current distribution rates.

JEPI yield8.25%
JEPQ yield10.73%
SCHD yield3.25%
VYM yield2.20%

Cost & efficiency

Over 10 years on $10,000: JEPI costs ~$350, JEPQ costs ~$350, SCHD costs ~$60, VYM costs ~$40 in fees (simplified, not compounded).

JEPI ER0.35%
JEPQ ER0.35%
SCHD ER0.06%
VYM ER0.04%

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 beta0.48
JEPQ beta0.76
SCHD beta0.61
VYM beta0.73

Fund details

JEPI is managed by JPMorgan (launched 05/20/2020) with $45.6B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $37.7B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $91.1B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $94.6B in assets.

JEPI AUM$45.6B
JEPQ AUM$37.7B
SCHD AUM$91.1B
VYM AUM$94.6B
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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 strategy, issued by JPMorgan. JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) tracks NASDAQ 100 with a covered call strategy, issued by JPMorgan. SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index with a basket strategy, issued by Schwab. VYM (Vanguard High Dividend Yield Index Fund ETF Shares) tracks Basket (Vanguard High Dividend Yield ETF holdings) with an index strategy, 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 0.04%. 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 ~$68.75/month ($825.00/year). $10,000 in JEPQ yields ~$89.42/month ($1,073.00/year). $10,000 in SCHD yields ~$27.08/month ($325.00/year). $10,000 in VYM yields ~$18.33/month ($220.00/year).

More comparisons to explore

JEPI vs JEPQ vs SCHD vs VYM — at a glance

Generated April 2026 from current fund data.

Overview

JEPI and JEPQ are covered-call ETFs that sacrifice upside capture for higher yields—they write calls on the S&P 500 and Nasdaq 100, respectively. SCHD and VYM are traditional dividend-equity index funds with lower yields but no options overlay. The core tradeoff: JEPI and JEPQ distribute 8–11% annually by capping gains; SCHD and VYM capture full market moves but yield 2–3%.

How they differ

Strategy and underlying. JEPI and JEPQ use a covered-call overlay—they own equities and sell call options monthly to generate premium income. JEPI targets the broad S&P 500 (beta 0.54); JEPQ targets the Nasdaq 100 (beta 0.78). SCHD and VYM are passive index trackers with no derivatives; SCHD tracks the Dow Jones U.S. Dividend 100 Index, VYM tracks the FTSE High Dividend Yield Index.

Yield and distribution frequency. JEPI pays 8.04% monthly; JEPQ pays 10.96% monthly. SCHD yields 3.39% quarterly; VYM yields 2.25% quarterly. The higher yields on JEPI and JEPQ come with the cost of capped upside—call strikes are typically near current prices, so strong rallies get clipped.

Fees and size. JEPI and JEPQ both charge 0.35% in expense ratios. SCHD and VYM are ultra-cheap at 0.06% and 0.04%, respectively. VYM is the largest fund at $88.7 billion AUM, followed by SCHD at $84.8 billion; JEPI is $44 billion, JEPQ is $34.3 billion.

Risk profile. JEPQ's higher distribution rate (10.96%) and lower inception date (May 2022) suggest greater reliance on options premium and NAV decay risk in flat or down markets. JEPI's lower beta (0.54) indicates more downside protection but also means it underperforms in strong bull runs. SCHD and VYM offer straight market exposure with no call caps; VYM's 52-week range ($117–$157) shows wider swings than JEPI ($52–$60).

Who each is best for

JEPI: Income-focused investors with low volatility tolerance, shorter time horizons, or those willing to trade long-term gains for steady monthly distributions. Best held in taxable accounts where monthly income is useful.

JEPQ: Investors who believe Nasdaq 100 valuations are stretched and want to harvest premium in that pocket of the market without owning it outright; higher risk of NAV erosion if tech rallies hard.

SCHD: Long-term dividend investors who want diversification across a broad dividend-quality basket with minimal fees; suitable for tax-advantaged retirement accounts where quarterly distributions aren't taxed.

VYM: Buy-and-hold equity investors seeking broad high-dividend exposure at rock-bottom cost; best for buy-it-and-forget-it portfolios in Roth or traditional IRAs.

Key risks to know

  • Call cap risk (JEPI, JEPQ). Both funds systematically sell upside. In a strong bull market, you'll lag the underlying index by the amount of gains above the call strike. JEPQ's higher yield (10.96%) suggests tighter call strikes, amplifying this drag.
  • NAV erosion if distributions exceed realized gains (JEPQ). With a 10.96% yield and shorter track record (inception May 2022), JEPQ may distribute more than the fund generates in capital gains and dividends, eroding NAV over time. Check annual reports for return-of-capital treatment.
  • Options volatility (JEPI, JEPQ). If implied volatility falls sharply, call premiums shrink, and monthly distributions may drop. The funds can't control when calls are assigned or which strikes are available.
  • Concentration risk (JEPQ). Nasdaq 100 exposure means heavy weight in mega-cap tech. A rotation away from tech hits harder than JEPI's broader S&P 500 base.
  • Valuation and duration risk (SCHD, VYM). Both own large-cap dividend stocks, which are sensitive to interest-rate moves. Rising rates can pressure valuations, especially for yield-chasing sectors like utilities and REITs.

Bottom line

If you prioritize current income and can tolerate capped gains, JEPI and JEPQ deliver 8–11% yields monthly—but you forfeit outsized bull-market returns. JEPQ's higher yield comes with extra tail risk if Nasdaq volatility drops or if NAV decays faster than in JEPI. If you want full market exposure, lower fees, and don't need monthly cash flow, SCHD and VYM are more efficient; VYM costs a penny less and has twice the track record. Past performance doesn't predict future results; the call caps on JEPI and JEPQ will bite during strong equity runs, while SCHD and VYM will lag in flat or falling markets due to their yield drag.

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

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