A head-to-head comparison of JPMorgan Equity Premium Income ETF and Roundhill Innovation-100 0DTE Covered Call Strategy ETF covering yield, cost, risk, and income potential.
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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Roundhill Investments is known for offering specialized ETFs that focus on income generation and thematic investing strategies. The firm operates 42 funds across five distinct families—Core, HALO, Income, Thematic, and WeeklyPay—with a particular emphasis on covered call strategies and weekly distribution products designed to generate regular cash flows. Notable offerings include ticker symbols like AAPW, AMDW, and AMZW (which employ covered call strategies on major technology stocks), along with thematic funds covering areas such as artificial intelligence (CHAT), cryptocurrency mining (DRAM), and other innovative sectors.
See our curated list of related YouTube videos on QDTE.
Bottom lineChoose JEPI if you are comfortable trading away most upside for a large, steady payout. Choose QDTE if you want to maximize current income — roughly 37.31%, generated by selling options premium. There's no free lunch: QDTE's payout comes from selling options, which caps upside and can erode the share price over time, while JEPI keeps full price exposure.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
JEPI has lagged QDTE over the trailing twelve months, posting a 7.38% total return against 20.70%. Measured from Mar 2024 — when the younger fund began trading — QDTE has compounded at 18.17% a year versus 7.43% for JEPI. JEPI has been the steadier holding, though — annualized volatility of 8.1% against 17.6% for QDTE. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 17, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Mar 2024” measures every fund from March 7, 2024 — 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 past year. 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 past year) — 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) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both dividend ETFs, but they take different approaches.
QDTE offers the higher yield at 37.31% vs 8.22% 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 0.95%.
They track different benchmarks: JEPI is linked to SPX while QDTE tracks NASDAQ 100, which means their performance drivers differ.
JEPI is the larger fund by assets ($44.3B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose JEPI
JPMorgan Equity Premium Income ETF
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.35% expense ratio vs 0.95% for QDTE.
Prefer lower volatility — a beta of 0.4 vs 1.2 for QDTE.
Want to maximize current income — QDTE distributes roughly 37.31% from selling options premium, vs 8.22% for JEPI.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, JEPI would generate roughly $68.50/month, while QDTE would produce $310.92/month, at current distribution rates.
JEPI yield8.22%
QDTE yield37.31%
Monthly diff on $10K$242.42
Cost & efficiency
Over 10 years on $10,000, JEPI would cost approximately $350 in fees vs $950 for QDTE (simplified, not compounded). The $600.00 difference may be offset by yield or performance.
JEPI ER0.35%
QDTE ER0.95%
Strategy & risk
JEPI tracks SPX with a covered call approach, while QDTE tracks NASDAQ 100 with a covered call approach. Beta is 0.43 for JEPI and 1.1903 for QDTE, indicating JEPI is less volatile relative to the market.
JEPI beta0.43
QDTE beta1.1903
Fund details
JEPI is managed by JPMorgan (launched 05/20/2020) with $44.3B in assets. QDTE is managed by Roundhill Investments (launched 03/07/2024) with $867M in assets.
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Frequently asked questions
Is JEPI or QDTE better for dividend income?
It depends on your goals. QDTE 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 QDTE?
JEPI (JPMorgan Equity Premium Income ETF) tracks SPX with a covered call approach, while QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) tracks NASDAQ 100 with a covered call approach. They are issued by JPMorgan and Roundhill Investments respectively.
Can I hold both JEPI and QDTE?
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.
Which has lower fees, JEPI or QDTE?
JEPI has an expense ratio of 0.35% while QDTE charges 0.95%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in JEPI vs QDTE generate?
At current rates, $10,000 in JEPI would generate roughly $68.50 per month ($822.00 annually). The same in QDTE would produce about $310.92 per month ($3,731.00 annually).
Which has performed better historically, JEPI or QDTE?
JEPI has lagged QDTE over the trailing twelve months, posting a 7.38% total return against 20.70%. Measured from Mar 2024 — when the younger fund began trading — QDTE has compounded at 18.17% a year versus 7.43% for JEPI. JEPI has been the steadier holding, though — annualized volatility of 8.1% against 17.6% for QDTE. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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