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 SCHD over the trailing twelve months, posting a 19.92% total return against 23.02%. The picture flips over 3 years, though — JEPQ has compounded at 21.79% a year, ahead of SCHD at 15.99%. 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 October 2, 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.
Seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 Index, which measures the performance of high dividend yielding stocks issued by U.S. companies with a record of consistently paying dividends, selected for fundamental strength relative to their peers based on financial ratios.
Bottom lineChoose JEPQ if you want to maximize current income — roughly 11.14%, generated by selling options premium. Choose SCHD if you want a quality-dividend tilt rather than the whole market. There's no free lunch: JEPQ's payout comes from selling options, which caps upside and can erode the share price over time, while SCHD keeps full price exposure.
JEPQ vs SCHD: Nasdaq overlay or dividend quality?
JEPQ sells Nasdaq-100 options for monthly cash. SCHD screens US dividend payers for quality. Opposite jobs, not two versions of income.
JEPQ
SCHD
What it owns
Nasdaq-100 plus option overlay
Quality US dividend payers
Expense ratio
0.35%
0.06%
Distribution rate
11.14%
3.26%
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.
Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.
See our curated list of related YouTube videos on SCHD.
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both dividend ETFs, but they take different approaches.
JEPQ offers the higher yield at 11.14% vs 3.26% for SCHD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SCHD is cheaper with an expense ratio of 0.06% compared to 0.35%.
They have different reference exposures: JEPQ is linked to Nasdaq-100 while SCHD is linked to Dow Jones U.S. Dividend 100 Index, which means their performance drivers differ.
SCHD 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 11.14% from selling options premium, vs 3.26% for SCHD.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Choose SCHD
Schwab U.S. Dividend Equity ETF
Want a quality-dividend tilt — screened payers rather than the broad index.
Want to keep costs low — a 0.06% expense ratio vs 0.35% for JEPQ.
Prefer lower volatility — a beta of 0.6 vs 0.8 for JEPQ.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track JEPQ & SCHD 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 $92.83 cash per distribution, while SCHD would produce $81.50 cash per distribution, at current distribution rates.
JEPQ yield11.14%
SCHD yield3.26%
Cash diff on $10K$11.33
Cost & efficiency
Over 10 years on $10,000, JEPQ would cost approximately $350 in fees vs $60 for SCHD (simplified, not compounded). The $290.00 difference may be offset by yield or performance.
JEPQ ER0.35%
SCHD ER0.06%
Strategy & risk
JEPQ is actively managed around Nasdaq-100 exposure with a covered call approach, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 0.81 for JEPQ and 0.56 for SCHD, making SCHD the less volatile of the two by this measure.
JEPQ beta0.81
SCHD beta0.56
Fund details
JEPQ is managed by JPMorgan (launched 05/03/2022) with $43.9B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $110B in assets.
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Frequently asked questions
What is the difference between JEPQ and SCHD?
Different jobs. JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) sells Nasdaq-100 options for monthly cash (11.14%). SCHD (Schwab U.S. Dividend Equity ETF) screens Dow Jones U.S. Dividend 100 Index for quality dividend payers and distributes 3.26% quarterly. Cost is 0.35% versus 0.06%. The larger yield is option premium, not a safer dividend. Figures as of October 2026.
What is the current distribution rate for JEPQ and SCHD?
JEPQ currently distributes 11.14% and SCHD 3.26%, 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 SCHD 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 SCHD?
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 SCHD safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SCHD scores 100, JEPQ scores 90, so SCHD's payout currently looks the more resilient of the two. SCHD has also shown lower price volatility (beta 0.56 vs 0.81 for JEPQ). 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 SCHD?
JEPQ has an expense ratio of 0.35% while SCHD charges 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in JEPQ vs SCHD generate?
At current rates, $10,000 in JEPQ would generate roughly $92.83 cash per distribution ($1,114.00 annually). The same in SCHD would produce about $81.50 cash per distribution ($326.00 annually).
Which has performed better historically, JEPQ or SCHD?
JEPQ has lagged SCHD over the trailing twelve months, posting a 19.92% total return against 23.02%. The picture flips over 3 years, though — JEPQ has compounded at 21.79% a year, ahead of SCHD at 15.99%. 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.
JEPQ and SCHD are both dividend-focused equity ETFs, but they pursue fundamentally different strategies. SCHD tracks a passive index of 100 large-cap U.S. dividend stocks with a history of consistent payouts, while JEPQ actively manages a Nasdaq-100-derived portfolio and uses equity-linked notes to sell call options on that benchmark, generating income through the premium.
How they differ
The single biggest difference is strategy: SCHD is a straightforward dividend-equity tracker with no derivatives, while JEPQ actively layers equity-linked notes that embed short calls to harvest option premium. That structural gap drives the second key difference — yield and distribution frequency. The third distinction is cost and scale. SCHD has a 0.06% expense ratio and $110B in assets under management, making it roughly 65638777157 larger than JEPQ's $43.9B; JEPQ's 0.35% fee is higher, though reasonable for an actively managed options overlay.
Who each is best for
JEPQ: Fits income-focused investors who can tolerate capped stock price appreciation and monthly income statements, and who are comfortable holding equity derivatives. The high yield appeals to those building a consistent monthly cash flow but expect muted or negative price returns over time.
SCHD: Fits total-return investors seeking modest, growing dividend income with low cost and structural simplicity. The low beta and diversified dividend-growth profile suits investors who want equity exposure with reduced volatility and no derivative mechanics.
Key risks to know
NAV erosion at high distribution yield (JEPQ). A 11.14% annualized yield from a portfolio with 0.81 beta is not easily funded by underlying equity returns alone. Investors should monitor whether distributions begin to exceed realized price appreciation plus reinvested dividends.
Capped upside and call assignment (JEPQ). The equity-linked notes embed short calls that limit stock price appreciation. If the Nasdaq-100 rallies sharply, JEPQ's gains are capped while shareholders miss the full upside. Call assignments or periodic note rollovers may also create tax or reinvestment timing friction.
Nasdaq-100 concentration risk (JEPQ).JEPQ's underlying is the Nasdaq-100, which skews toward mega-cap tech. That concentration can amplify losses during sector downturns and provides less diversification than SCHD's 100-stock dividend-quality basket across market caps and sectors.
Dividend-cut risk (SCHD).SCHD holds companies selected for their dividend-payout consistency and fundamental quality, but recessions or business deterioration can force dividend cuts. Unlike JEPQ's synthetic income stream, SCHD's yield depends on corporate decisions and economic cycles. The tradeoff is between manufactured, high current income (JEPQ) and sustainable, moderate income with upside participation (SCHD). Past performance 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.
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