Projections assume the current yield and share price remain constant. Actual results will vary.
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 QQQM over the trailing twelve months, posting a 19.73% total return against 24.20%. The lead holds up over 3 years too: QQQM has compounded at 27.83% a year, against 21.60% for JEPQ. JEPQ has been the steadier holding, though — annualized volatility of 15.6% against 20.2% for QQQM. 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 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 May 2022” measures every fund from May 4, 2022 — 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 trailing 3 years. 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 trailing 3 years) — 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.
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.
Track the NASDAQ-100 Index with a lower expense ratio alternative to QQQ.
Bottom lineChoose JEPQ if you want to maximize current income — roughly 13.37%, generated by selling options premium. Choose QQQM if you want a growth tilt and can accept bigger swings for higher upside. There's no free lunch: JEPQ's payout comes from selling options, which caps upside and can erode the share price over time, while QQQM keeps full price exposure.
JEPQ vs QQQM: overlay cash or the Nasdaq-100?
QQQM is the index. JEPQ sells Nasdaq-100 options for monthly cash. Income now versus upside kept is the decision.
JEPQ
QQQM
What you own
Nasdaq-100 plus option overlay
NASDAQ-100 Index
Expense ratio
0.35%
0.15%
Distribution rate
13.37%
0.41%
Upside in a rally
Partially sold
Full participation
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 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.
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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.
See our curated list of related YouTube videos on QQQM.
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and QQQM (Invesco NASDAQ 100 ETF) are both dividend ETFs, but they take different approaches.
JEPQ offers the higher yield at 13.37% vs 0.41% for QQQM. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
QQQM is cheaper with an expense ratio of 0.15% compared to 0.35%.
They have different reference exposures: JEPQ is linked to Nasdaq-100 while QQQM is linked to NASDAQ-100 Index, which means their performance drivers differ.
QQQM is the larger fund by assets ($110B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
Want to maximize current income — JEPQ distributes roughly 13.37% from selling options premium, vs 0.41% for QQQM.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Prefer lower volatility — a beta of 0.8 vs 1.2 for QQQM.
Choose QQQM
Invesco NASDAQ 100 ETF
Want a growth tilt and can accept larger swings for more upside.
Want to keep costs low — a 0.15% expense ratio vs 0.35% for JEPQ.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track JEPQ & QQQM for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, JEPQ would generate roughly $111.42 cash per distribution, while QQQM would produce $10.25 cash per distribution, at current distribution rates.
JEPQ yield13.37%
QQQM yield0.41%
Cash diff on $10K$101.17
Cost & efficiency
Over 10 years on $10,000, JEPQ would cost approximately $350 in fees vs $150 for QQQM (simplified, not compounded). The $200.00 difference may be offset by yield or performance.
JEPQ ER0.35%
QQQM ER0.15%
Strategy & risk
JEPQ is actively managed around Nasdaq-100 exposure with a covered call approach, while QQQM tracks NASDAQ-100 Index with a growth approach. Beta is 0.81 for JEPQ and 1.18 for QQQM, making JEPQ the less volatile of the two by this measure.
JEPQ beta0.81
QQQM beta1.18
Fund details
JEPQ is managed by JPMorgan (launched 05/03/2022) with $43.9B in assets. QQQM is managed by Invesco (launched 10/13/2020) with $110B in assets.
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Frequently asked questions
What is the difference between JEPQ and QQQM?
QQQM (Invesco NASDAQ 100 ETF) tracks NASDAQ-100 Index and keeps the whole move, paying 0.41%. JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) sells Nasdaq-100 options for monthly cash — 13.37%. Cost is 0.35% versus 0.15%. In a sharp Nasdaq rally QQQM keeps more. Figures as of September 2026.
What is the current distribution rate for JEPQ and QQQM?
JEPQ currently distributes 13.37% and QQQM 0.41%, 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 JEPQ or QQQM better for dividend income?
It depends on your goals. JEPQ 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 QQQM?
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 JEPQ or QQQM safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — QQQM scores 97, JEPQ scores 90, so QQQM's payout currently looks the more resilient of the two. JEPQ has also shown lower price volatility (beta 0.81 vs 1.18 for QQQM). 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 QQQM?
JEPQ has an expense ratio of 0.35% while QQQM charges 0.15%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in JEPQ vs QQQM generate?
At current rates, $10,000 in JEPQ would generate roughly $111.42 cash per distribution ($1,337.00 annually). The same in QQQM would produce about $10.25 cash per distribution ($41.00 annually).
Which has performed better historically, JEPQ or QQQM?
JEPQ has lagged QQQM over the trailing twelve months, posting a 19.73% total return against 24.20%. The lead holds up over 3 years too: QQQM has compounded at 27.83% a year, against 21.60% for JEPQ. JEPQ has been the steadier holding, though — annualized volatility of 15.6% against 20.2% for QQQM. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
The result is a stark yield divide: JEPQ targets 13.37% distribution yield through options income, while QQQM passes through the index's modest 0.41% as dividends.
How they differ
The most significant difference is strategy: QQQM passively mirrors the NASDAQ-100 with 0.15% fees, while JEPQ actively blends equities with systematic call selling and charges 0.35% for active management and derivatives overlay. The second distinction is structural volatility: QQQM carries a 1.18 beta, meaning it amplifies broad market moves roughly 1:1; JEPQ's 0.81 beta suggests its covered-call cushion dampens upside capture in rallies.
Who each is best for
JEPQ: Fits investors who prioritize steady monthly income from a large-cap growth portfolio and are comfortable capping upside in exchange for option-premium yield; best suited for those with a moderate risk tolerance and a preference for frequent distributions over price appreciation.
QQQM: Fits investors seeking long-term growth exposure to Nasdaq-100 constituents with minimal cost drag and no yield constraints; designed for those building core equity positions who view dividends as secondary to total return. If underlying equity returns and option premiums fall short of that payout rate, NAV will erode over time—a risk investors should monitor against the fund's rolling total return versus QQQM's index return.
Call-cap drag on rallies.JEPQ's covered-call strategy caps upside when Nasdaq-100 constituents surge past strike prices. In extended bull markets, this structure will lag QQQM's uncapped appreciation by design, offsetting income gains.
Concentration in large-cap technology. Both funds are heavily exposed to Nasdaq-100 constituents—mega-cap tech and growth stocks. Sector or multiple-compression downturns affect both, though QQQM's full index replication means no active manager buffer.
Options-implied volatility dependency.JEPQ's covered-call income depends partly on implied volatility levels. In periods of depressed option premiums, achievable yield may slip below published targets, while rising volatility could temporarily boost distributions without signaling improved fundamentals. The tradeoff isn't risk versus safety—it's income certainty versus appreciation potential.
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.
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