JEPQ
Safe
High confidence
ETF Comparison
JEPQ vs QDTE: Daily 0DTE Calls, or Nasdaq Premium Income?
A head-to-head of Roundhill Innovation-100 0DTE Covered Call and JPMorgan Nasdaq Equity Premium Income covering overlay and cash.
Updated November 6, 2026
How these figures are calculated: methodology.
Best for
- JEPQInvestors who want equity-linked notes for call-option exposure.
- QDTEInvestors who want a covered-call overlay and will review its coverage.
Price and total return
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Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
QDTE
High risk
High confidence
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  JEPQ |  QDTE |
|---|---|---|
| Full name | JPMorgan Nasdaq Equity Premium Income ETF | Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF |
| Issuer | JPMorgan | Roundhill Investments |
| Last Close | $54.34 as of November 6, 2026 | $25.79 as of November 6, 2026 |
| Distribution rate | 11.91% | 31.88% |
| Trailing 12-month yield | 12.79% | 48.41% |
| Distribution Safety Score™ | 82 | 19 |
| Safety-Adjusted Yield | 9.77% | 6.06% |
| Expense ratio | 0.35% | 0.96% |
| AUM | $42.1B | $822M |
| Distribution frequency | Monthly | Weekly |
| Underlying index | Actively managed (no tracked index recorded) | Nasdaq-100 |
| Objective | Seeks monthly income by combining an actively managed portfolio of equities drawn largely from the Nasdaq-100 Index with equity-linked notes that sell call options on that benchmark. | Seeks weekly income by investing at least 80% of net assets in instruments that provide exposure to the Nasdaq-100 Index and writing zero-days-to-expiration (0DTE) call options against that exposure. |
| Asset class | Equity | Equity |
| Inception date | 05/03/2022 | 03/07/2024 |
| Beta | 0.8 | 1.1903 |
| Last dividend | $0.53922 | $0.15811 payable 11/06/2026 |
| Ex-dividend date | 11/02/2026 | 11/05/2026 |
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
JEPQ has lagged QDTE over the trailing twelve months, posting a 3.24% total return against 6.13%. Measured from Mar 2024 — the start of shared available history — QDTE has compounded at 15.09% a year versus 11.92% for JEPQ. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | Since Mar 2024 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|
| JEPQ | 2.01% | 3.24% | 11.92% | 16.7% | -0.05 | -0.07 | -11.5% |
| QDTE | 4.98% | 6.13% | 15.09% | 19.9% | 0.09 | 0.12 | -13.1% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of November 5, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Mar 2024” measures every fund from March 7, 2024 — the start of shared available history — 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.
Distribution rate and return of capital
| Metric | JEPQ | QDTE |
|---|---|---|
| Forward distribution rate | 11.91% | 31.88% |
| Trailing 12-month yield | 12.79% | 48.41% |
| Return of capital | — | 100.00% |
Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income.
Total return against the stated underlying is on JEPQ vs QQQ, QDTE vs QQQ.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Bottom lineChoose JEPQ if you want equity-linked notes for call-option exposure. Choose QDTE if you want a covered-call overlay and will review its coverage. JEPQ and QDTE both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
QDTE vs JEPQ: Nasdaq 0DTE calls or premium income?
Both sell Nasdaq upside. QDTE uses daily 0DTE calls; JEPQ is Nasdaq equity premium income.
| JEPQ | QDTE | |
|---|---|---|
| Overwrite | Nasdaq premium income | Nasdaq-100 0DTE covered calls |
| Expense ratio | 0.35% | 0.96% |
| Distribution rate | 11.91% | 31.88% |
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. JEPQ and QDTE generate 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
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
ETFs78
Total AUM$355B
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 JEPQ.
ETFs57
Total AUM$25.4B
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Roundhill Investments is known for offering innovative, specialized ETFs that often feature weekly dividend distributions and exposure to trending themes and individual mega-cap stocks. Their lineup spans income-focused strategies, leveraged products, thematic investments in areas like cryptocurrency and artificial intelligence, and weekly-pay funds that appeal to investors seeking frequent distributions. The issuer has built a distinctive niche with products targeting both traditional income seekers and those interested in emerging sectors, offering a diverse range of tickers that go well beyond conventional dividend vehicles.
See our curated list of related YouTube videos on QDTE.
Quick verdict
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and QDTE (Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF) are both dividend ETFs, but they take different approaches.
QDTE offers the higher yield at 31.88% vs 11.91% 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 0.96%.
JEPQ is the larger fund by assets ($42.1B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
- Want equity-linked notes as the option-income approach; review holdings and issuer disclosures.
- 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 0.96% for QDTE.
- Prefer lower market sensitivity — a beta of 0.80 vs 1.19 for QDTE.
Choose QDTE
Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF
- Want a covered-call overlay as the option-income approach; review holdings and issuer disclosures.
- Want to maximize current income — QDTE distributes roughly 31.88% from selling options premium, vs 11.91% 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.
Top-holdings overlap
Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.
0 shared positions
JEPQ 0.0% of its top-10 weight
QDTE 0.0% of its top-10 weight
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, JEPQ would pay about $1,191.00 a year (about $99.25 per monthly distribution), while QDTE would pay about $3,188.00 a year (about $61.31 per weekly distribution).
JEPQ yield11.91%
QDTE yield31.88%
Annual cash diff on $10K$1,997.00
Cost & efficiency
Over 10 years on $10,000, JEPQ would cost approximately $350 in fees vs $960 for QDTE (simplified, not compounded). The $610.00 difference may be offset by yield or performance.
JEPQ ER0.35%
QDTE ER0.96%
Strategy & risk
JEPQ is actively managed around Nasdaq-100 exposure with an ELN-based call-option approach, while QDTE tracks Nasdaq-100 with a covered call approach. Beta is 0.8 for JEPQ and 1.1903 for QDTE, making JEPQ the less sensitive to market moves of the two by this measure.
JEPQ beta0.8
QDTE beta1.1903
Fund details
JEPQ is managed by JPMorgan (launched 05/03/2022) with $42.1B in assets. QDTE is managed by Roundhill Investments (launched 03/07/2024) with $822M in assets.
JEPQ AUM$42.1B
QDTE AUM$822M
Frequently asked questions
What is the difference between QDTE and JEPQ?
QDTE (Roundhill Nasdaq-100® 0DTE Covered Call Strategy ETF) writes zero-days-to-expiration calls on the Nasdaq-100. JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) overlays Nasdaq names for monthly income. Cost is 0.96% versus 0.35%; distributions are 31.88% and 11.91% as of November 2026. Daily 0DTE overwrite versus premium income is the decision.
What is the current distribution rate for JEPQ and QDTE?
JEPQ currently distributes 11.91% and QDTE 31.88%, based on fund data updated November 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is JEPQ 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.
Can I hold both JEPQ and QDTE?
Yes. Their disclosed top-10 holdings share no positions, so combining both spreads your money across different underlying names — see the holdings-overlap section above for the details. Overlap outside the disclosed top 10 can still exist.
Is JEPQ or QDTE safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — JEPQ scores 82, QDTE scores 19, so JEPQ's payout currently looks the more resilient of the two. JEPQ has also been less sensitive to market moves (beta 0.80 vs 1.19 for QDTE). 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, JEPQ or QDTE?
JEPQ has an expense ratio of 0.35% while QDTE charges 0.96%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in JEPQ vs QDTE generate?
At current distribution rates, $10,000 in JEPQ would pay about $1,191.00 a year (about $99.25 per monthly distribution). $10,000 in QDTE would pay about $3,188.00 a year (about $61.31 per weekly distribution).
Which has performed better historically, JEPQ or QDTE?
JEPQ has lagged QDTE over the trailing twelve months, posting a 3.24% total return against 6.13%. Measured from Mar 2024 — the start of shared available history — QDTE has compounded at 15.09% a year versus 11.92% for JEPQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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Learn the method
The metrics behind this comparison, explained in the Academy.
These comparisons follow the Dividend Vision methodology.