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ETF Comparison

ROCQ vs JEPQ: 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.

Data updated August 26, 2026

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

JEPQ has lagged ROCQ over the year to date, posting a 10.17% total return against 15.18%. 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.
SymbolYTDSince Mar 2026Volatility Sharpe Sortino Max drawdown
JEPQ10.17%11.00%17.0%1.161.72-7.7%
ROCQ15.18%15.18%19.0%1.482.20-8.0%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 25, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Mar 2026” measures every fund from March 19, 2026 — 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 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$59.75 as of August 26, 2026$55.12 as of August 26, 2026
Distribution yield14.16%15.41%
Distribution Safety Score™ 9050
Expense ratio0.35%0.35%
AUM$41.4B$491M
Distribution frequencyMonthlyMonthly
Underlying indexNasdaq-100Nasdaq-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
Beta0.8—
Last dividend$0.7050$0.7080
Ex-dividend date08/03/202608/03/2026

Bottom lineWe won't call this one: ROCQ launched March 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional.

ROCQ vs JEPQ: two JPMorgan Nasdaq income books

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

JEPQROCQ
Income designEquity-linked notes on a Nasdaq-100 sleeveCovered calls on Nasdaq-100 stocks
Expense ratio0.35%0.35%
Distribution yield14.16%15.41%
Fund size$41.4B$491M
Better fit forThe established JPMorgan Nasdaq income bookThe newer sister fund with a covered-call overwrite

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:
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Income calculator

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

JPMorgan
ETFs78
Total AUM$344B

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 JPMorgan ETFs

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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.

ROCQ offers the higher yield at 15.41% vs 14.16% for JEPQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

JEPQ has $41.4B in assets vs $491M for ROCQ, but ROCQ only launched March 2026 — AUM comparisons will become more meaningful as it builds a track record.

Deep dive

Yield & income

On a $10,000 investment, JEPQ would generate roughly $118.00/month, while ROCQ would produce $128.42/month, at current distribution rates. Both pay monthly distributions.

JEPQ yield14.16%
ROCQ yield15.41%
Monthly diff on $10K$10.42

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

Both JEPQ and ROCQ wrap NASDAQ 100 with options-based income overlays (covered call and covered call). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic.

JEPQ beta0.8
ROCQ beta—

Fund details

JEPQ is managed by JPMorgan (launched 05/03/2022) with $41.4B in assets. ROCQ is managed by JPMorgan (launched 03/19/2026) with $491M in assets.

JEPQ AUM$41.4B
ROCQ AUM$491M
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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) writes covered calls on Nasdaq-100 stocks. Cost is 0.35% versus 0.35%; distributions are 14.16% and 15.41% as of August 2026. JEPQ is the older, larger book ($41.4B vs $491M). The yield gap is overlay design and history, not two different markets.

What is the current distribution yield for JEPQ and ROCQ?

JEPQ currently distributes 14.16% and ROCQ 15.41%, based on fund data updated August 2026. Distribution yield 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. ROCQ 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?

You can, but expect significant overlap. Both funds use options-based income strategies on NASDAQ 100, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than 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 90, ROCQ scores 50, so JEPQ's payout currently looks the more resilient of the two. 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 $118.00 per month ($1,416.00 annually). The same in ROCQ would produce about $128.42 per month ($1,541.00 annually).

Which has performed better historically, JEPQ or ROCQ?

JEPQ has lagged ROCQ over the year to date, posting a 10.17% total return against 15.18%. 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 August 23, 2026.

Overview

JEPQ and ROCQ are both JPMorgan ETFs that generate monthly income by pairing actively managed Nasdaq-100 equity portfolios with call-option overlays. The key difference: JEPQ targets a 14.14% distribution rate and has $41.3B in assets after nearly two years in market, while ROCQ, launched in March 2026, pursues a higher 15.40% yield from a much smaller $491M base. Both charge 0.35% in expenses and use the same underlying strategy, making them functionally similar vehicles aimed at different yield thresholds.

How they differ

ROCQ's distribution rate runs 126 basis points higher than JEPQ's (15.40% vs. 14.14%), reflecting a tighter call-strike selection or wider option spreads on similar Nasdaq-100 exposure. The scale difference is stark: JEPQ has accumulated $41.3B in assets over its two-year track record, while ROCQ sits at $491M as a newly launched fund. Both charge identical 0.35% expense ratios, so the yield premium isn't offset by higher fees. ROCQ's recent inception (March 2026) means it carries no meaningful performance history, while JEPQ offers nearly two years of realized returns and price discovery. Expense ratios are thin relative to the monthly distributions, meaning the bulk of yield comes from option premium rather than underlying dividend capture.

Who each is best for

JEPQ: Fits investors seeking a high-income Nasdaq-100 exposure with a longer track record and substantial asset base, where deep liquidity and two years of observed behavior matter more than marginal yield gains.

ROCQ: Designed for yield-focused investors willing to accept a newly launched fund with smaller liquidity pools in exchange for the higher current distribution rate that the tighter option strikes provide.

Key risks to know

  • NAV erosion at 100%+ synthetic yields. Both funds distribute well above typical equity total-return levels (14–15% annually), a signature of option-income strategies where capital erosion often accompanies high monthly payouts unless underlying equities appreciate significantly. Over a full market cycle, NAV typically trails the headline yield.
  • Call-cap risk on rallies. The covered-call overlays cap upside in the Nasdaq-100; large gains in mega-cap tech stocks will be partially forfeited as positions are called away at predetermined strikes. Investors sacrificing meaningful upside for the income premium.
  • Concentration in Nasdaq-100 constituents. Both funds are fully exposed to the sector and single-name risks embedded in the Nasdaq-100 (heavily weighted to large-cap technology and growth). Their overlapping holdings mean they share identical company-level volatility.
  • ROCQ's liquidity and operational risk. At $491M in AUM with an inception date of March 2026, ROCQ has minimal trading history and no crisis-period data. Early-stage funds can face wider bid-ask spreads and less predictable option-pricing behavior as the fund matures.
  • Options market dislocation. Both strategies depend on consistent, liquid call-option markets. A sudden spike in implied volatility or a shift in call-strike demand could reduce available premium and pressure distributions downward.

Bottom line

If you value liquidity, a two-year operating history, and $41.3B in established assets, JEPQ's lower 14.14% yield still offers substantial income from a proven structure. If the extra 126 basis points of current yield outweighs the risks of a newly launched $491M fund with no track record, ROCQ may appeal to shorter-term income seekers. Either way, neither fund is suited for total-return seekers; both are built to distribute, not to grow principal. Past performance, especially for a fund as new as ROCQ, 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

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