DV
Dividend Vision

ETF Comparison

JEPQ vs ROCY: Nasdaq Premium Income, or S&P Premium Yield?

A head-to-head of JPMorgan Nasdaq Equity Premium Income and Equity Premium Yield covering the index underneath and cost.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • JEPQInvestors who want Nasdaq-100 exposure and can accept a more concentrated book.
  • ROCYInvestors who want broader S&P 500 exposure and lower measured market sensitivity.

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 outpaced ROCY over the shared window since Mar 2026, posting a 15.11% total return against 13.91%. ROCY has been the steadier holding, though — annualized volatility of 10.6% against 15.8% for JEPQ. 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.
SymbolSince Mar 2026Volatility Sharpe Sortino Max drawdown
JEPQ15.11%15.8%1.392.09-7.7%
ROCY13.91%10.6%1.892.94-3.5%

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 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.
MetricJEPQROCY
Full nameJPMorgan Nasdaq Equity Premium Income ETFJPMorgan Equity Premium Yield ETF
IssuerJPMorganJPMorgan
Underlying indexNasdaq-100S&P 500
Last Close$61.26 as of September 30, 2026$55.03 as of September 30, 2026
Distribution rate13.37%5.69%
Trailing 12-month yield11.04%3.30%
Distribution Safety Score™ 9050
Safety-Adjusted Yield 12.03%—
Expense ratio0.35%0.35%
AUM$43.9B$752M
Distribution frequencyMonthlyMonthly
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
Beta0.810.7639
Last dividend$0.68255$0.261
Ex-dividend date09/01/202609/01/2026

Bottom lineChoose JEPQ if you want Nasdaq-100 exposure and can accept a more concentrated book. Choose ROCY if you want broader S&P 500 exposure and lower measured market sensitivity. JEPQ and ROCY 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.

JEPQ vs ROCY: Nasdaq income or S&P yield?

Same JPMorgan premium family. JEPQ is Nasdaq; ROCY is S&P.

JEPQROCY
IndexNasdaq-tiltedLarge-cap US
Expense ratio0.35%0.35%
Distribution rate13.37%5.69%
Fund size$43.9B$752M

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.

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$350B

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 ROCY.

See all JPMorgan ETFs

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 ROCY (JPMorgan Equity Premium Yield ETF) are both monthly-pay dividend ETFs, but they take different approaches.

JEPQ offers the higher yield at 13.37% vs 5.69% for ROCY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They have different reference exposures: JEPQ is linked to Nasdaq-100 while ROCY is linked to S&P 500, which means their performance drivers differ.

JEPQ is the larger fund by assets ($43.9B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

  • Want Nasdaq-100 exposure — fewer names, heavier technology weight, and typically a higher current distribution.
  • Want to maximize current income — JEPQ distributes roughly 13.37% from selling options premium, vs 5.69% for ROCY.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose ROCY

JPMorgan Equity Premium Yield ETF

  • Want broader S&P 500 exposure — more sectors, less mega-cap concentration, and typically lower beta.
  • Want broad equity exposure.

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 $111.42 cash per distribution, while ROCY would produce $47.42 cash per distribution, at current distribution rates. Both pay monthly distributions.

JEPQ yield13.37%
ROCY yield5.69%
Cash diff on $10K$64.00

Cost & efficiency

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

JEPQ ER0.35%
ROCY ER0.35%

Strategy & risk

JEPQ is actively managed around Nasdaq-100 exposure with a covered call approach, while ROCY combines actively managed equities with laddered call spreads. Beta is 0.81 for JEPQ and 0.7639 for ROCY — effectively similar market sensitivity.

JEPQ beta0.81
ROCY beta0.7639

Fund details

JEPQ is managed by JPMorgan (launched 05/03/2022) with $43.9B in assets. ROCY is managed by JPMorgan (launched 03/19/2026) with $752M in assets.

JEPQ AUM$43.9B
ROCY AUM$752M
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 JEPQ and ROCY?

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) overlays Nasdaq-tilted names. ROCY (JPMorgan Equity Premium Yield ETF) overlays large-cap US stocks. Same JPMorgan premium family, different index. Cost is 0.35% versus 0.35%; size is $43.9B versus $752M. Distributions are 13.37% and 5.69% as of September 2026. Index underneath, not headline yield, is the live difference.

What is the current distribution rate for JEPQ and ROCY?

JEPQ currently distributes 13.37% and ROCY 5.69%, 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 ROCY 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 ROCY?

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 ROCY 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, ROCY 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 ROCY?

JEPQ and ROCY 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 ROCY generate?

At current rates, $10,000 in JEPQ would generate roughly $111.42 cash per distribution ($1,337.00 annually). The same in ROCY would produce about $47.42 cash per distribution ($569.00 annually).

Which has performed better historically, JEPQ or ROCY?

JEPQ has outpaced ROCY over the shared window since Mar 2026, posting a 15.11% total return against 13.91%. ROCY has been the steadier holding, though — annualized volatility of 10.6% against 15.8% for JEPQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

JEPQ vs ROCY — at a glance

Generated September 26, 2026.

Overview

JEPQ and ROCY are both actively managed covered-call ETFs from JPMorgan that generate monthly income by selling call options against their equity holdings. Both charge 0.35% in expenses, but their yield gap reflects a deliberate strategic tradeoff between income intensity and capital appreciation potential. That matters because JEPQ's higher yield (13.37% versus 5.69%) comes from tighter call-option strikes—the manager sells closer-to-the-money calls on Nasdaq names to capture more premium. ROCY, by contrast, sells calls further out of the money, preserving more upside for holders but yielding less income.

JEPQ's 0.81 beta and ROCY's 0.7639 beta both sit below 1.0, suggesting the covered-call overlay dampens market moves in both cases, though ROCY's lower beta hints at less downside participation. Both have operated 4 years and 6 months, respectively, long enough to establish a monthly distribution rhythm. Works for those comfortable with Nasdaq-heavy exposure and defensive beta mechanics.

  • ROCY: Fits investors who want covered-call income from broad-market exposure but prioritize flexibility for capital gains over maximum payout; suits allocators seeking a middle-ground between S&P 500 indexing and aggressive call-writing strategies.

Key risks to know

  • NAV erosion at high distribution yields: JEPQ's 13.37% yield substantially exceeds typical earnings growth; investors should evaluate whether distributions are predominantly return of capital, which would erode principal over time.
  • Capped upside from call-option collar: Both funds forego appreciation above the call strikes they sell each month. During strong market rallies, JEPQ's Nasdaq exposure and ROCY's broad holdings would be called away, locking in gains but missing further moves higher.
  • Options repricing and income volatility: Monthly call strikes adjust based on market conditions and implied volatility. In falling-volatility environments or market downturns, the premiums the managers collect shrink, potentially forcing distribution cuts.

Bottom line

If you need maximum income from growth stocks and can accept capped upside, JEPQ's Nasdaq focus and 13.37% yield are built for that profile. If you want broader market diversification and are willing to accept lower yield (5.69%) in exchange for more capital-gains potential, ROCY's S&P 500 foundation offers that tradeoff. The smaller scale of ROCY's asset base could matter depending on your trade size. Past performance does not guarantee 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.