JEPQ combines actively selected equities with option exposure through equity-linked notes. VYM tracks the FTSE High Dividend Yield Index, which excludes REITs. Compare selection rules and current holdings before using yield to choose.
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 VYM over the trailing twelve months, posting a 19.73% total return against 13.16%. The lead holds up over 3 years too: JEPQ has compounded at 21.60% a year, against 18.20% for VYM. VYM has been the steadier holding, though — annualized volatility of 12.4% against 15.6% 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.
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.
Seeks to track the performance of the FTSE High Dividend Yield Index, which offers exposure to dividend-paying large-cap companies that exhibit value characteristics within the U.S. equity market. The index includes stocks with a history of paying above-average dividends.
Bottom lineChoose JEPQ if you want ELN-based option income and accept equity and note risks. Choose VYM if you want high-dividend index exposure and accept dividend cuts and equity losses. Distributions can change and may include return of capital. A payout rate is not total return, and tax character alone does not establish economic loss.
ELN-based option exposure versus a high-dividend index
JEPQ combines actively selected equities with option exposure through equity-linked notes. VYM tracks the FTSE High Dividend Yield Index, which excludes REITs. Compare selection rules and current holdings before using yield to choose.
JEPQ
VYM
Approach
Active equities and ELNs
FTSE High Dividend Yield Index; excludes REITs
Risk review
Equity concentration and ELN issuer/liquidity risks
Equity losses, dividend cuts, and dividend-style concentration
Expense ratio
0.35%
0.04%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
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.
Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.
See our curated list of related YouTube videos on VYM.
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and VYM (Vanguard High Dividend Yield ETF) are both dividend ETFs, but they take different approaches.
JEPQ offers the higher yield at 13.37% vs 2.29% for VYM. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
VYM is cheaper with an expense ratio of 0.04% compared to 0.35%.
They have different reference exposures: JEPQ is linked to Nasdaq-100 while VYM is linked to FTSE High Dividend Yield Index, which means their performance drivers differ.
VYM is the larger fund by assets ($80.2B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, JEPQ would generate roughly $111.42 cash per distribution, while VYM would produce $57.25 cash per distribution, at current distribution rates.
JEPQ yield13.37%
VYM yield2.29%
Cash diff on $10K$54.17
Cost & efficiency
Over 10 years on $10,000, JEPQ would cost approximately $350 in fees vs $40 for VYM (simplified, not compounded). The $310.00 difference may be offset by yield or performance.
JEPQ ER0.35%
VYM ER0.04%
Strategy & risk
JEPQ combines actively selected equities with option exposure through equity-linked notes. VYM tracks the FTSE High Dividend Yield Index, which excludes REITs. Compare selection rules and current holdings before using yield to choose. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
JEPQ beta0.81
VYM beta0.66
Fund details
JEPQ is managed by JPMorgan (launched 05/03/2022) with $43.9B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $80.2B in assets.
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Frequently asked questions
Does VYM include REITs, and is its portfolio static?
VYM's benchmark excludes REITs. Its holdings and weights can change as the index is maintained; it is not a permanently fixed basket. JEPQ follows a different active equity and ELN strategy. Review current sector weights and distribution definitions rather than assuming a sector tilt or a fixed payout.
How should I compare risk and ownership costs?
Use matching dates and definitions for returns, distributions, and fees. Beta describes historical benchmark sensitivity, not guaranteed downside protection. Check current bid-ask spreads and premiums or discounts; AUM alone does not determine the price available for your order.
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