A head-to-head comparison of JPMorgan Nasdaq Equity Premium Income ETF and YieldMax MSTR Option Income 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 JEPQ.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on MSTY.
Bottom lineChoose JEPQ if you are comfortable trading away most upside for a large, steady payout. Choose MSTY if you want to maximize current income — roughly 81.43%, generated by selling options premium. There's no free lunch: MSTY's payout comes from selling options, which caps upside and can erode the share price over time, while JEPQ keeps full price exposure.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
JEPQ has outpaced MSTY over the trailing twelve months, posting a 21.94% total return against -74.19%. Measured from Feb 2024 — when the younger fund began trading — JEPQ has compounded at 17.17% a year versus 4.70% for MSTY. JEPQ has been the steadier holding, though — annualized volatility of 13.9% against 64.8% for MSTY. 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 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Feb 2024” measures every fund from February 22, 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
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and MSTY (YieldMax MSTR Option Income Strategy ETF) are both dividend ETFs, but they take different approaches.
MSTY offers the higher yield at 81.43% vs 12.69% for JEPQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
JEPQ is cheaper with an expense ratio of 0.35% compared to 0.99%.
They track different benchmarks: JEPQ is linked to NASDAQ 100 while MSTY tracks Strategy (MSTR), which means their performance drivers differ.
JEPQ is the larger fund by assets ($39.0B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose JEPQ
JPMorgan Nasdaq 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 0.99% for MSTY.
Prefer lower volatility — a beta of 0.8 vs 2.6 for MSTY.
Choose MSTY
YieldMax MSTR Option Income Strategy ETF
Want to maximize current income — MSTY distributes roughly 81.43% from selling options premium, vs 12.69% for JEPQ.
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, JEPQ would generate roughly $105.75/month, while MSTY would produce $678.58/month, at current distribution rates.
JEPQ yield12.69%
MSTY yield81.43%
Monthly diff on $10K$572.83
Cost & efficiency
Over 10 years on $10,000, JEPQ would cost approximately $350 in fees vs $990 for MSTY (simplified, not compounded). The $640.00 difference may be offset by yield or performance.
JEPQ ER0.35%
MSTY ER0.99%
Strategy & risk
JEPQ tracks NASDAQ 100 with a covered call approach, while MSTY tracks Strategy (MSTR) with a covered call approach. Beta is 0.78 for JEPQ and 2.5604 for MSTY, indicating JEPQ is less volatile relative to the market.
JEPQ beta0.78
MSTY beta2.5604
Fund details
JEPQ is managed by JPMorgan (launched 05/03/2022) with $39.0B in assets. MSTY is managed by YieldMax (launched 02/21/2024) with $1.01B in assets.
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Frequently asked questions
Is JEPQ or MSTY better for dividend income?
It depends on your goals. MSTY 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 JEPQ and MSTY?
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) tracks NASDAQ 100 with a covered call approach, while MSTY (YieldMax MSTR Option Income Strategy ETF) tracks Strategy (MSTR) with a covered call approach. They are issued by JPMorgan and YieldMax respectively.
Can I hold both JEPQ and MSTY?
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, JEPQ or MSTY?
JEPQ has an expense ratio of 0.35% while MSTY charges 0.99%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in JEPQ vs MSTY generate?
At current rates, $10,000 in JEPQ would generate roughly $105.75 per month ($1,269.00 annually). The same in MSTY would produce about $678.58 per month ($8,143.00 annually).
Which has performed better historically, JEPQ or MSTY?
JEPQ has outpaced MSTY over the trailing twelve months, posting a 21.94% total return against -74.19%. Measured from Feb 2024 — when the younger fund began trading — JEPQ has compounded at 17.17% a year versus 4.70% for MSTY. JEPQ has been the steadier holding, though — annualized volatility of 13.9% against 64.8% for MSTY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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