Dividend comparison

DGRO vs JEPQ: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Core Dividend Growth ETF and JPMorgan Nasdaq Equity Premium Income ETF, side by side. Updated October 21, 2026.

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DGRO vs JEPQ: key differences

The short answer, from the latest data on this page.

Fees. DGRO is cheaper at 0.08% a year versus 0.35% for JEPQ. On $10,000 that is $27 a year less in fees.
Income. JEPQ pays more income, yielding 11.58% over the last twelve months versus 1.88% for DGRO. That is about $970 more a year on $10,000. DGRO pays quarterly, JEPQ pays monthly.
Performance. Over the last 3 years, DGRO returned 70.7% versus 61.0% for JEPQ, with dividends reinvested. $10,000 would have grown to $17,071 in DGRO and $16,100 in JEPQ.
Risk. Their worst declines over the last 3 years were similar: -19.3% for DGRO and -20.1% for JEPQ from peak to trough.
Diversification. DGRO holds 391 positions and JEPQ holds 110.
Dividend growth. DGRO grew its yearly payout 7.9% a year over the last 2 years, versus 7.6% for JEPQ.

Bottom line: DGRO fits better if you care most about lower fees, stronger 3-year returns and broader diversification. JEPQ fits better if you care most about more income today.

Side-by-side snapshot

Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.

Metric	DGRO iShares Core Dividend Growth ETF	JEPQ JPMorgan Nasdaq Equity Premium Income ETF
Dividend yield (TTM)	1.88%	11.58%
Dividend / share (TTM)	$1.49	$6.88
Payout frequency	Quarterly	Monthly
Last dividend	$0.3850 on Sep 18, 2026	$0.5669 on Oct 5, 2026
Ex-dividend date	Sep 15, 2026	Oct 1, 2026
Dividend growth (CAGR)	7.9% over 4 yrs	7.6% over 2 yrs
Price	$79.26	$59.44
Dividend growth streak	10 years	2 years
Beta	0.67	0.83
Max drawdown (5Y)	-19.3%	-20.1%
Market cap	$43.96B	$43.19B
Exchange	AMEX	NASDAQ
Expense ratio	0.08%	0.35%
Assets under management	$44.19B	$43.83B
Number of holdings	391	110
Top 10 concentration	—	43.1%

Income on a $10,000 investment

Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

DGRO

$15.71/mo

$188 /yr at 1.88% yield

JEPQ

$96.52/mo

$1158 /yr at 11.58% yield

Dividend history

Total dividends paid per share in each calendar year. DGRO pays quarterly; JEPQ pays monthly.

Year	DGRO	JEPQ
2025	$1.4506	$6.0025
2024	$1.3851	$5.3800
2023	$1.3159	$5.1840
2022	$1.1679	—
2021	$1.0718	—

Strategy: Dividend equity

Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.

Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.

What DGRO vs JEPQ actually do

DGRO

An iShares fund holding a wide set of US companies with a record of raising their dividends.

It tracks the Morningstar US Dividend Growth Index, which requires at least five consecutive years of dividend growth, a payout ratio under 75%, a positive earnings forecast, no REITs, and excludes the top 10% of the universe by yield. The five-year requirement is looser than VIG's ten, so the portfolio is broader, running to several hundred names. Holdings are weighted by the total dollar value of dividends paid rather than by market cap, which tilts weight toward the largest actual dividend payers rather than the largest companies.

Suits an investor who wants dividend growth with more names and a slightly higher starting yield than a stricter growth screen delivers. Less suitable for someone who wants concentrated exposure to only the longest-running dividend raisers.

Dividend growth, broad

JEPQ

The Nasdaq-100 version of the same JPMorgan strategy: an actively managed portfolio of large-cap growth stocks plus call options written through equity-linked notes.

The equity sleeve stays close to the Nasdaq-100 while applying JPMorgan's own research overlay, and equity-linked notes supply the short call exposure on the index. Because Nasdaq-100 options carry higher implied volatility than S&P 500 options, the fund collects more premium and pays a bigger monthly distribution than its S&P 500 sibling. The trade is symmetrical: the underlying portfolio is more volatile, so drawdowns are deeper and the capped upside costs more in a technology-led melt-up.

Suits an income investor who wants exposure to large-cap technology but would rather be paid monthly than wait for capital gains. Not a fit for anyone who wants full participation in Nasdaq rallies or who cannot tolerate a growth-heavy, concentrated portfolio underneath the options.

Aggressive equity income

Performance

Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on May 4, 2022 would now be worth $16,444 in DGRO and $17,289 in JEPQ.

Period	DGRO	JEPQ
1 month	3.08%	-1.33%
3 months	2.75%	1.59%
Year to date	14.17%	2.27%
1 year	15.72%	4.26%
3 years	70.71%	61.00%
5 years	64.54%	—

DGRO
JEPQ

Both series indexed to 100 on 2022-05-04 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation

Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.

DGRO
JEPQ

Top 10 holdings

Largest positions by portfolio weight.

JEPQ110 holdings total

Name	Weight
NVDANVIDIA CORP COMMON STOCK	7.17%
AAPLAPPLE INC COMMON STOCK	6.73%
MSFTMICROSOFT CORP COMMON	5.54%
GOOGALPHABET INC-CL C -	4.83%
MUMICRON TECHNOLOGY INC	4.29%
AMZNAMAZON.COM INC COMMON	4.02%
AMDADVANCED MICRO DEVICES	3.55%
METAMETA PLATFORMS INC	2.96%
TSLATESLA INC COMMON STOCK	2.13%
AVGOBROADCOM INC COMMON	1.90%

Quick verdict

DGRO fits better if you care most about lower fees, stronger 3-year returns and broader diversification. JEPQ fits better if you care most about more income today. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is DGRO or JEPQ better for dividend income?

It depends on your goals. DGRO currently yields 1.88% Trailing Twelve Months (TTM) while JEPQ yields 11.58%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.

What is the difference between DGRO and JEPQ?

iShares Core Dividend Growth ETF (DGRO) is an ETF listed on AMEX. JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.

Which is cheaper, DGRO or JEPQ?

DGRO has the lower expense ratio. DGRO charges 0.08% a year and JEPQ charges 0.35%, a difference of $27 a year on a $10,000 investment.

Which has performed better, DGRO or JEPQ?

Over the last 3 years, DGRO has the higher total return with dividends reinvested: DGRO returned 70.7% and JEPQ returned 61.0%. Past performance does not predict future returns.

Which is riskier, DGRO or JEPQ?

Measured by the worst peak-to-trough decline over the last five years, JEPQ has been riskier: DGRO fell as much as 19.3% and JEPQ as much as 20.1%. Their betas are 0.67 and 0.83.

How often do DGRO and JEPQ pay dividends?

DGRO pays quarterly and JEPQ pays monthly.

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

At current TTM yields, $10,000 in DGRO would generate roughly $15.71 per month ($188 annually). The same amount in JEPQ would produce about $96.52 per month ($1158 annually). Actual payouts vary with distribution changes and reinvestment.

Can I hold both DGRO and JEPQ?

Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.

Where can I compare DGRO vs JEPQ with my full portfolio?

Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how DGRO and JEPQ fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.