DV
Dividend Vision

ETF Comparison

JEPQ vs ROCQ: Same Issuer, Different Nasdaq Income Design

A head-to-head comparison of JPMorgan's Nasdaq Equity Premium Yield ETF and Nasdaq Equity Premium Income ETF covering overlay design, cost, track record, and portfolio role.

Updated October 16, 2026

How these figures are calculated: methodology.

Best for

  • JEPQInvestors who want equity-linked notes for call-option exposure.
  • ROCQInvestors who want a covered-call overlay and will review its coverage.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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 ROCQ over the year to date, posting a 10.65% total return against 14.50%. 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.
SymbolYTD cumulativeSince Mar 2026Volatility Sharpe Sortino Max drawdown
JEPQ10.65%11.54%15.6%0.941.37-7.7%
ROCQ14.50%14.50%17.7%1.081.57-8.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 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 2026” measures every fund from March 19, 2026 — 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 shared window since Mar 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 Mar 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.
MetricJEPQROCQ
Full nameJPMorgan Nasdaq Equity Premium Income ETFJPMorgan Nasdaq Equity Premium Yield ETF
IssuerJPMorganJPMorgan
Last Close$58.81 as of October 16, 2026$53.84 as of October 16, 2026
Distribution rate11.57%10.94%
Trailing 12-month yield11.71%6.28%
Distribution Safety Score™ 8550
Safety-Adjusted Yield 9.83%—
Expense ratio0.35%0.35%
AUM$44.7B$731M
Distribution frequencyMonthlyMonthly
Underlying indexActively managed (no tracked index recorded)Nasdaq-100
ObjectiveSeeks 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.Designed to deliver current yield while maintaining prospects for capital appreciation and total return.
Asset classEquityEquity
Inception date05/03/202203/19/2026
Beta0.81.2193
Last dividend$0.56687$0.491
Ex-dividend date10/01/202610/01/2026

Bottom lineChoose JEPQ if you want equity-linked notes for call-option exposure. Choose ROCQ if you want a covered-call overlay and will review its coverage. JEPQ and ROCQ 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.

ROCQ vs JEPQ: two JPMorgan Nasdaq income books

Same issuer, same Nasdaq-100 neighborhood. JEPQ uses equity-linked notes on an active sleeve. ROCQ sells laddered call spreads. History and size still favor JEPQ; the yield gap is overlay design.

JEPQROCQ
Income designEquity-linked notes on a Nasdaq-100 sleeveLaddered two-week call spreads on Nasdaq-100 stocks
Expense ratio0.35%0.35%
Distribution rate11.57%10.94%
Fund size$44.7B$731M
Better fit forThe established JPMorgan Nasdaq income bookThe newer sister fund with a call-spread overlay

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 ROCQ 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

Model this comparison:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

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

JPMorgan
ETFs78
Total AUM$353B

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 and ROCQ.

See all ETFs from JPMorgan

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and ROCQ (JPMorgan Nasdaq Equity Premium Yield ETF) are both monthly-pay dividend ETFs, but they take different approaches.

JEPQ offers the higher yield at 11.57% vs 10.94% for ROCQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

JEPQ is the larger fund by assets ($44.7B), 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.
  • Want to maximize current income — JEPQ distributes roughly 11.57% from selling options premium, vs 10.94% for ROCQ.
  • 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 ROCQ.

Choose ROCQ

JPMorgan Nasdaq Equity Premium Yield ETF

  • Want a covered-call overlay 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.

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 $96.42 cash per distribution, while ROCQ would produce $91.17 cash per distribution, at current distribution rates. Both pay monthly distributions.

JEPQ yield11.57%
ROCQ yield10.94%
Cash diff on $10K$5.25

Cost & efficiency

Over 10 years on $10,000, JEPQ would cost approximately $350 in fees vs $350 for ROCQ (simplified, not compounded). Both charge the same expense ratio.

JEPQ ER0.35%
ROCQ ER0.35%

Strategy & risk

JEPQ is actively managed around Nasdaq-100 exposure with an ELN-based call-option approach, while ROCQ tracks Nasdaq-100 with a covered call approach. Beta is 0.8 for JEPQ and 1.2193 for ROCQ, making JEPQ the less volatile of the two by this measure.

JEPQ beta0.8
ROCQ beta1.2193

Fund details

JEPQ is managed by JPMorgan (launched 05/03/2022) with $44.7B in assets. ROCQ is managed by JPMorgan (launched 03/19/2026) with $731M in assets.

JEPQ AUM$44.7B
ROCQ AUM$731M
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

What is the difference between ROCQ and JEPQ?

Both are JPMorgan Nasdaq-100 income funds that pay monthly. JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) uses equity-linked notes on an actively chosen sleeve. ROCQ (JPMorgan Nasdaq Equity Premium Yield ETF) sells laddered two-week call spreads over a Nasdaq-100 stock book; the bought call lets it re-participate in sharp rallies. Cost is 0.35% versus 0.35%; distributions are 11.57% and 10.94% as of October 2026. JEPQ is the older, larger book ($44.7B vs $731M). The yield gap is overlay design and history, not two different markets.

What is the current distribution rate for JEPQ and ROCQ?

JEPQ currently distributes 11.57% and ROCQ 10.94%, based on fund data updated October 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 ROCQ 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 ROCQ?

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 ROCQ 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 85, ROCQ scores 50, so JEPQ's payout currently looks the more resilient of the two. JEPQ has also shown lower price volatility (beta 0.80 vs 1.22 for ROCQ). 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 ROCQ?

JEPQ and ROCQ both charge the same expense ratio of 0.35%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in JEPQ vs ROCQ generate?

At current rates, $10,000 in JEPQ would generate roughly $96.42 cash per distribution ($1,157.00 annually). The same in ROCQ would produce about $91.17 cash per distribution ($1,094.00 annually).

Which has performed better historically, JEPQ or ROCQ?

JEPQ has lagged ROCQ over the year to date, posting a 10.65% total return against 14.50%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

JEPQ vs ROCQ — at a glance

Generated October 17, 2026.

Overview

JEPQ and ROCQ are both JPMorgan ETFs that generate monthly income by pairing a Nasdaq-100 equity portfolio with call-option overlays. The key distinction is that JEPQ uses an actively managed stock selection within the Nasdaq-100 universe and has been operating since mid-2022 with $44.7B in assets, while ROCQ launched in early 2026 as a newer entry with $731M in AUM and appears to follow a more passive or systematic approach to its equity component.

How they differ

Both charge the same 0.35% expense ratio and target monthly distributions, but JEPQ's distribution rate of 11.57% exceeds ROCQ's 10.94% by about 0.63 percentage points. JEPQ carries a 0.8 beta, meaning it typically moves less than the broad market when Nasdaq-100 swings occur; ROCQ's beta of 0.42 is substantially higher, suggesting greater price sensitivity to index moves. The difference in AUM is striking—JEPQ has accumulated $44.7B over nearly four years of operation, while ROCQ is a nascent fund with $731M, which may signal either that the market prefers JEPQ's track record or that ROCQ simply has not yet attracted scale. Both funds employ covered-call strategies on Nasdaq-100 holdings, but JEPQ's active management may give its portfolio tilt different from ROCQ's approach.

Who each is best for

  • JEPQ: Fits investors seeking monthly income from a Nasdaq-focused portfolio who value a longer operational track record and are comfortable with lower beta sensitivity—useful for those who want equity-index upside with dampened volatility.
  • ROCQ: Designed for income-focused investors who accept higher Nasdaq-100 correlation and are drawn to a newer fund structure, possibly for tax-lot management or who believe the newer inception aligns with their investment timeline. This structure may gradually erode net asset value if underlying equity returns lag the payout rate.
  • Call-option cap risk. Monthly call overlays cap upside in a strong rally. If Nasdaq-100 rallies sharply, both funds' equity gains will be capped at the strike price, so total return may significantly lag an unhedged Nasdaq-100 position.
  • Beta and volatility mismatch. JEPQ's 0.8 beta suggests lower volatility, but ROCQ's 1.2193 indicates it will amplify Nasdaq-100 moves—meaning its income may feel less stable during tech selloffs, and the higher beta can increase drawdown depth.
  • Concentration in Nasdaq-100. Both funds are fully exposed to Nasdaq-100 constituents (primarily large-cap technology), creating single-sector and single-geography concentration risk that may underperform during tech downturns or rotations to other asset classes.

Bottom line

If you prioritize a seasoned fund with lower market beta and $44.7B in established assets, JEPQ offers a longer operational history; if you're comfortable with higher correlation to Nasdaq-100 moves and prefer a newer fund structure, ROCQ's 10.94% yield and $731M footprint appeal to different investors. Both generate income via call overlays and face NAV-erosion and upside-cap risks inherent to that strategy—neither fund represents true capital appreciation, and past performance of the strategy does not predict 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

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener

These comparisons follow the Dividend Vision methodology.