ETF Comparison
JEPY vs JEPI: Which Is the Better Pick in 2026?
A head-to-head comparison of Defiance S&P 500 Enhanced Options Income ETF and JPMorgan Equity Premium Income ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| JEPY | JEPI | |
|---|---|---|
| Full name | Defiance S&P 500 Enhanced Options Income ETF | JPMorgan Equity Premium Income ETF |
| Issuer | Defiance ETFs | JPMorgan |
| Price | $44.06 | $56.41 |
| Distribution yield | 55.67% | 7.91% |
| Expense ratio | 1.01% | 0.35% |
| AUM | $66M | $45.0B |
| Distribution frequency | Weekly | Monthly |
| Underlying index | SPX | SPX |
| Objective | Seeks enhanced income through an actively managed strategy consisting of treasuries and S&P 500 index options, generating outsized monthly distributions by selling option premium on a daily basis using 0DTE (zero days to expiration) options. | Covered Call |
| Asset class | Equity | Equity |
| Inception date | 06/26/2024 | 05/20/2020 |
| Beta | 0.0 | 0.51 |
| Last dividend | $0.16 | $0.42 |
| Ex-dividend date | 04/02/2026 | 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
JEPY (Defiance S&P 500 Enhanced Options Income ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both popular weekly-pay seeks enhanced income through an actively managed strategy consisting of treasuries and s&p 500 index options, generating outsized monthly distributions by selling option premium on a daily basis using 0dte (zero days to expiration) options. ETFs, but they take different approaches.
JEPY offers the higher yield at 55.67% vs 7.91% for JEPI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
JEPI is cheaper with an expense ratio of 0.35% compared to 1.01%.
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, JEPY would generate roughly $463.92/month while JEPI would produce $65.92/month at current distribution rates. Both pay weekly distributions.
Cost & efficiency
Over 10 years on $10,000, JEPY would cost approximately $1,010 in fees vs $350 for JEPI (simplified, not compounded). The $660.00 difference may be offset by yield or performance.
Strategy & risk
JEPY tracks SPX with a seeks enhanced income through an actively managed strategy consisting of treasuries and s&p 500 index options, generating outsized monthly distributions by selling option premium on a daily basis using 0dte (zero days to expiration) options. approach, while JEPI tracks SPX using a covered call strategy. Beta is 0.0 for JEPY and 0.51 for JEPI, indicating JEPY is less volatile relative to the market.
Fund details
JEPY is managed by Defiance ETFs (launched 06/26/2024) with $66M in assets. JEPI is managed by JPMorgan (launched 05/20/2020) with $45.0B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is JEPY or JEPI better for dividend income?
It depends on your goals. JEPY 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 JEPY and JEPI?
JEPY (Defiance S&P 500 Enhanced Options Income ETF) tracks SPX with a seeks enhanced income through an actively managed strategy consisting of treasuries and s&p 500 index options, generating outsized monthly distributions by selling option premium on a daily basis using 0dte (zero days to expiration) options. strategy, while JEPI (JPMorgan Equity Premium Income ETF) tracks SPX with a covered call approach. They are issued by Defiance ETFs and JPMorgan respectively.
Can I hold both JEPY and JEPI?
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, JEPY or JEPI?
JEPY has an expense ratio of 1.01% while JEPI charges 0.35%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in JEPY vs JEPI generate?
At current yields, $10,000 in JEPY would generate roughly $463.92 per month ($5,567.00 annually). The same in JEPI would produce about $65.92 per month ($791.00 annually).
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