Dividend comparison
JEPI vs DIVO: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and Amplify CWP Enhanced Dividend Income ETF, side by side. Updated October 24, 2026.
- Fees. JEPI is cheaper at 0.35% a year versus 0.56% for DIVO. On $10,000 that is $21 a year less in fees.
- Income. JEPI pays more income, yielding 8.03% over the last twelve months versus 6.34% for DIVO. That is about $169 more a year on $10,000. JEPI pays monthly, DIVO pays quarterly.
- Performance. Over the last 5 years, DIVO returned 57.1% versus 32.0% for JEPI, with dividends reinvested. $10,000 would have grown to $15,710 in DIVO and $13,203 in JEPI.
- Risk. Their worst declines over the last 5 years were similar: -13.7% for JEPI and -13.7% for DIVO from peak to trough.
- Diversification. JEPI holds 135 positions and DIVO holds 34.
- Dividend growth. DIVO grew its yearly payout 11.9% a year over the last 4 years, versus 2.5% for JEPI.
- Size. JEPI is the larger fund with $45.9 billion in assets, against $8.1 billion for DIVO.
Bottom line: JEPI fits better if you care most about lower fees, more income today and broader diversification. DIVO fits better if you care most about stronger 5-year returns and faster dividend growth.
| Metric | JEPI JPMorgan Equity Premium Income ETF | DIVO Amplify CWP Enhanced Dividend Income ETF |
|---|---|---|
| Dividend yield (TTM) | 8.03% | 6.34% |
| Dividend / share (TTM) | $4.56 | $3.02 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.3413 on Oct 5, 2026 | $0.1890 on Sep 30, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 29, 2026 |
| Dividend growth (CAGR) | 2.5% over 4 yrs | 11.9% over 4 yrs |
| Price | $56.85 | $47.57 |
| Dividend growth streak | 1 year | 3 years |
| Beta | 0.43 | 0.56 |
| Max drawdown (5Y) | -13.7% | -13.7% |
| Market cap | $45.72B | $8.01B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.35% | 0.56% |
| Assets under management | $45.93B | $8.07B |
| Number of holdings | 135 | 34 |
| Top 10 concentration | 18.4% | — |
JEPI
$66.90/mo
$803 /yr at 8.03% yield
DIVO
$52.85/mo
$634 /yr at 6.34% yield
| Year | JEPI | DIVO |
|---|---|---|
| 2025 | $4.6876 | $2.8660 |
| 2024 | $4.2494 | $1.9013 |
| 2023 | $4.7634 | $1.7085 |
| 2022 | $6.2478 | $1.7074 |
| 2021 | $4.2455 | $1.8280 |
Payouts are variable rather than contractual, are often taxed as ordinary income, and a fund that pays out more than the strategy earns will see its net asset value drift down over time.
What JEPI vs DIVO actually do
The equity sleeve is picked from S&P 500 names screened for lower volatility and quality rather than for dividend yield, so it usually moves like a calmer version of the index. Separately the fund holds equity-linked notes whose payoff comes from writing roughly one-month, slightly out-of-the-money calls on the S&P 500 itself, not on the individual stocks it owns. The premium from those notes is distributed monthly, which is why the payout is far larger than the dividends the underlying companies actually pay.
Suits an investor who wants a large monthly cash payment from US large caps and accepts a trimmed share of any strong rally. It fits badly in a high-bracket taxable account, since option income arrives as ordinary income, and badly for an account whose only job is long-run growth.
Moderate-risk equity income
The manager runs a hand-picked book of roughly 20 to 30 large-cap dividend stocks rather than tracking an index. Instead of keeping every position covered, calls are written tactically on single names, typically when a holding has run up or its implied volatility is elevated. That preserves far more upside than a blanket index overwrite, but it makes option income lumpy and puts the outcome on manager judgment rather than a published rule.
Suits an investor who wants dividend income lifted by option premium without surrendering most of the appreciation. Less suitable for anyone who wants a fully rules-based product, the lowest fee, or the highest available distribution rate.
Moderate income with growth
| Period | JEPI | DIVO |
|---|---|---|
| 1 month | 0.48% | 1.02% |
| 3 months | 0.76% | 2.35% |
| Year to date | -0.68% | 6.90% |
| 1 year | 0.19% | 6.90% |
| 3 years | 28.39% | 53.70% |
| 5 years | 32.03% | 57.10% |
- JEPI
- DIVO
Both series indexed to 100 on 2021-10-23 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPI
- DIVO
JEPI135 holdings total
| Name | Weight |
|---|---|
| MSFTMICROSOFT CORP COMMON | 1.98% |
| AAPLAPPLE INC COMMON STOCK | 1.94% |
| MAMASTERCARD INC COMMON | 1.92% |
| AMZNAMAZON.COM INC COMMON | 1.90% |
| VVISA INC COMMON STOCK | 1.83% |
| NVDANVIDIA CORP COMMON STOCK | 1.83% |
| MMM3M CO COMMON STOCK USD | 1.78% |
| METAMETA PLATFORMS INC | 1.77% |
| ABBVABBVIE INC COMMON STOCK | 1.74% |
| EOGEOG RESOURCES INC COMMON | 1.70% |
Quick verdict
JEPI fits better if you care most about lower fees, more income today and broader diversification. DIVO fits better if you care most about stronger 5-year returns and faster dividend growth. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.