ETF Comparison
JEPI vs JEPQ vs SPYI: Which Is the Better Pick in 2026?
A side-by-side comparison of JPMorgan Equity Premium Income ETF, JPMorgan Nasdaq Equity Premium Income ETF and NEOS S&P 500 High Income ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| JEPI | JEPQ | SPYI | |
|---|---|---|---|
| Full name | JPMorgan Equity Premium Income ETF | JPMorgan Nasdaq Equity Premium Income ETF | NEOS S&P 500 High Income ETF |
| Issuer | JPMorgan | JPMorgan | NEOS |
| Price | $56.41 | $55.52 | $49.65 |
| Distribution yield | 7.91% | 10.58% | 11.84% |
| Expense ratio | 0.35% | 0.35% | 0.68% |
| AUM | $45.0B | $34.6B | $8.1B |
| Distribution frequency | Monthly | Monthly | Monthly |
| Underlying index | SPX | NASDAQ 100 | S&P 500 Index |
| Objective | Covered Call | Covered Call | Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. |
| Asset class | Equity | Equity | Equity |
| Inception date | 05/20/2020 | 05/03/2022 | 08/29/2022 |
| Beta | 0.51 | 0.79 | 0.68 |
| Last dividend | $0.42 | $0.56 | $0.51 |
| Ex-dividend date | 04/01/2026 | 04/01/2026 | 03/18/2026 |
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), JEPQ (JPMorgan Nasdaq Equity Premium Income ETF), SPYI (NEOS S&P 500 High Income ETF) are popular dividend ETFs that take different approaches.
SPYI offers the highest yield at 11.84%, followed by JEPQ at 10.58%, JEPI at 7.91%.
JEPI is the cheapest with an expense ratio of 0.35%, compared to 0.35% for JEPQ and 0.68% for SPYI.
JEPI is the largest fund by assets ($45.0B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment: JEPI generates ~$65.92/month, JEPQ generates ~$88.17/month, SPYI generates ~$98.67/month at current distribution rates.
Cost & efficiency
Over 10 years on $10,000: JEPI costs ~$350, JEPQ costs ~$350, SPYI costs ~$680 in fees (simplified, not compounded).
Strategy & risk
JEPI tracks SPX with a covered call approach; JEPQ tracks NASDAQ 100 with a covered call approach; SPYI tracks S&P 500 Index with a seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. approach.
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. SPYI is managed by NEOS (launched 08/29/2022) with $8.1B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Which of JEPI, JEPQ, SPYI is best for dividend income?
It depends on your goals. SPYI currently offers the highest 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, JEPQ, SPYI?
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. SPYI (NEOS S&P 500 High Income ETF) tracks S&P 500 Index with a seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. strategy, issued by NEOS.
Can I hold JEPI, JEPQ, SPYI 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, SPYI?
JEPI has an expense ratio of 0.35%, JEPQ has an expense ratio of 0.35%, SPYI has an expense ratio of 0.68%. 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 ~$65.92/month ($791.00/year). $10,000 in JEPQ yields ~$88.17/month ($1,058.00/year). $10,000 in SPYI yields ~$98.67/month ($1,184.00/year).
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