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ETF Comparison

JEPI vs ODTE: Which Is the Better Pick in 2026?

A head-to-head comparison of JPMorgan Equity Premium Income ETF and VegaShares SPX NDX RTY Premium Income ETF covering yield, cost, risk, and income potential.

Data updated September 4, 2026

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

JEPI has lagged ODTE over the year to date, posting a 3.99% total return against 7.47%. JEPI has been the steadier holding, though — annualized volatility of 7.6% against 14.0% for ODTE. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTDSince Apr 2026Volatility Sharpe Sortino Max drawdown
JEPI3.99%3.13%7.6%0.370.54-3.0%
ODTE7.47%7.47%14.0%0.901.26-7.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Apr 2026” measures every fund from April 6, 2026 — 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 shared window since Apr 2026. 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 shared window since Apr 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricJEPIODTE
Full nameJPMorgan Equity Premium Income ETFVegaShares SPX NDX RTY Premium Income ETF
IssuerJPMorganVegaShares
Last Close$57.22 as of September 4, 2026$25.53 as of September 4, 2026
Distribution rate7.79%14.05%
Distribution Safety Score™ 7650
Safety-Adjusted Yield 5.92%—
Expense ratio0.35%0.76%
AUM$46.2B$3.32M
Distribution frequencyMonthlyWeekly
Underlying index—S&P 500, Nasdaq-100, Russell 2000
ObjectiveSeeks monthly income and lower volatility than the broad U.S. large-cap market by combining an actively managed portfolio of equities with equity-linked notes that sell call options on the S&P 500 Index.Seeks weekly income by investing at least 80% of net assets in the constituents of the S&P 500, Nasdaq-100 and Russell 2000 indices, or instruments linked to them, alongside an options premium strategy.
Asset classEquityEquity
Inception date05/20/202004/03/2026
Beta0.43—
Last dividend$0.3714$0.069 payable today
Ex-dividend date09/01/202609/03/2026

Bottom lineWe won't call this one: ODTE launched April 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional. What is already clear from the numbers above: the two do not cost the same — JEPI charges 0.35% against 0.76% for ODTE, and on funds tracking the same thing that gap compounds every year you hold.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Capped upside and premium dependence. ODTE generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

Model this comparison:
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

JPMorgan
ETFs78
Total AUM$347B

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

JPMorgan is a major provider of ETFs spanning multiple asset classes and strategies, with particular strength in income-focused funds including their popular covered call strategy lineup. Their fund family encompasses broad categories including bond, equity, factor, income, index, international, municipal, and sector ETFs, providing investors with diverse exposure options across markets and investment styles. The issuer offers both core indexed strategies and actively managed solutions, serving investors seeking everything from traditional dividend income to sophisticated factor-based and thematic approaches.

See our curated list of related YouTube videos on JEPI.

See all JPMorgan ETFs
VegaShares
ETFs5
Total AUM$58.3M

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

VegaShares specializes in options-based and thematic ETFs designed to generate income and capitalize on emerging trends. The issuer's lineup spans income-focused strategies, including covered call funds, alongside thematic offerings that target specific market segments and innovation themes. VegaShares serves investors seeking alternative approaches to traditional equity exposure, with a concentrated portfolio of strategically named funds addressing both income generation and sector-specific growth opportunities.

See our curated list of related YouTube videos on ODTE.

See all VegaShares ETFs

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Quick verdict

JEPI (JPMorgan Equity Premium Income ETF) and ODTE (VegaShares SPX NDX RTY Premium Income ETF) are both dividend ETFs, but they take different approaches.

ODTE offers the higher yield at 14.05% vs 7.79% 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 0.76%.

JEPI has $46.2B in assets vs $3.32M for ODTE, but ODTE only launched April 2026 — AUM comparisons will become more meaningful as it builds a track record.

Deep dive

Yield & income

On a $10,000 investment, JEPI would generate roughly $64.92/month, while ODTE would produce $117.08/month, at current distribution rates.

JEPI yield7.79%
ODTE yield14.05%
Monthly diff on $10K$52.17

Cost & efficiency

Over 10 years on $10,000, JEPI would cost approximately $350 in fees vs $760 for ODTE (simplified, not compounded). The $410.00 difference may be offset by yield or performance.

JEPI ER0.35%
ODTE ER0.76%

Strategy & risk

JEPI is an actively managed ETF built around a derivative overlay strategy, while ODTE tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach.

JEPI beta0.43
ODTE beta—

Fund details

JEPI is managed by JPMorgan (launched 05/20/2020) with $46.2B in assets. ODTE is managed by VegaShares (launched 04/03/2026) with $3.32M in assets.

JEPI AUM$46.2B
ODTE AUM$3.32M
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Frequently asked questions

What is the current distribution rate for JEPI and ODTE?

JEPI currently distributes 7.79% and ODTE 14.05%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is JEPI or ODTE better for dividend income?

It depends on your goals. ODTE 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 ODTE?

JEPI (JPMorgan Equity Premium Income ETF) is an actively managed ETF built around a derivative overlay strategy, while ODTE (VegaShares SPX NDX RTY Premium Income ETF) tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach. They are issued by JPMorgan and VegaShares respectively.

Can I hold both JEPI and ODTE?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is JEPI or ODTE safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — JEPI scores 76, ODTE scores 50, so JEPI's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, JEPI or ODTE?

JEPI has an expense ratio of 0.35% while ODTE charges 0.76%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in JEPI vs ODTE generate?

At current rates, $10,000 in JEPI would generate roughly $64.92 per month ($779.00 annually). The same in ODTE would produce about $117.08 per month ($1,405.00 annually).

Which has performed better historically, JEPI or ODTE?

JEPI has lagged ODTE over the year to date, posting a 3.99% total return against 7.47%. JEPI has been the steadier holding, though — annualized volatility of 7.6% against 14.0% for ODTE. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

JEPI vs ODTE — at a glance

Generated September 5, 2026.

Overview

JEPI and ODTE are both equity ETFs that layer options strategies atop diversified stock holdings to generate income above their underlying equity returns. The two differ sharply in distribution frequency, yield level, and asset base maturity.

How they differ

The most striking difference is distribution yield: ODTE pays 14.05% versus 7.79% for JEPI, a gap of 6.27 percentage points. Second, fund structure diverges: JEPI uses an active stock-picking overlay with synthetic notes tied to a single benchmark (the S&P 500), while ODTE blends holdings across three indices (S&P 500, Nasdaq-100, Russell 2000) with a rules-based 0DTE options strategy. Third, maturity and scale matter—JEPI has $46.2B in AUM since 05/20/2020, while ODTE holds only $3.32M and launched 04/03/2026, making JEPI far more established and liquid.

Who each is best for

  • JEPI: Fits investors seeking steady monthly income from a large-cap sleeve with moderate downside dampening—the 0.43 beta suggests meaningfully lower volatility than the broad market—and who prefer an active manager's discretion in stock selection over an index-tracking approach.
  • ODTE: Designed for investors comfortable with newer, smaller-scale funds who chase higher distribution rates and accept weekly settlement logistics; also fits those drawn to specialized options strategies (0DTE trading) or who want exposure spanning three index universes rather than the S&P 500 alone. JEPI's 7.79% rate is lower but still warrants scrutiny against realized performance and cap gains.
  • 0DTE options liquidity and gap risk. ODTE's focus on zero-days-to-expiration contracts concentrates roll timing and execution risk into narrow windows; sharp intraday moves or liquidity pulls in weekly expiration cycles could force unfavorable rebalancing or option-assignment sequencing, particularly given the fund's small $3.32M asset base.
  • Call-cap dampening in rising equity markets. Both funds' covered-call and options strategies cap upside when stocks surge; in a sustained bull market, each will lag unhedged broad-market exposure by the amount of premium foregone. JEPI's 0.43 structure suggests this is a feature, not a bug, but investors must accept that trade-off explicitly.
  • ODTE's scale and liquidity constraints. At $3.32M and inception in 04/03/2026, the fund carries fund-closure risk and may face wider bid-ask spreads and slower portfolio rebalancing during market stress than JEPI's $46.2B base.
  • Overlap in equity holdings. Both funds' underlying equity baskets likely overlap significantly (ODTE explicitly includes the S&P 500), meaning their option strategies are trading on similar core names and benefiting from overlapping implied-volatility levels. Verify holdings before combining them.

Bottom line

If you prioritize established scale, lower yield, and a proven manager selecting individual large-cap holdings, JEPI's 7.79% and $46.2B position offer a more conservative income-plus-equity structure. If you pursue the highest current yield and accept newly-launched fund status and weekly distribution mechanics, ODTE's 14.05% distribution rate appeals—but comes with execution risk and an unproven track record. Past performance does not guarantee future results.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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