Dividend comparison
JEPI vs QDTE: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and Roundhill Nasdaq-100 0DTE Covered Call ETF Strategy ETF, side by side. Updated October 21, 2026.
- Fees. JEPI is cheaper at 0.35% a year versus 0.96% for QDTE. On $10,000 that is $61 a year less in fees.
- Income. QDTE pays more income, yielding 44.45% over the last twelve months versus 7.96% for JEPI. That is about $3,649 more a year on $10,000. JEPI pays monthly, QDTE pays weekly.
- Performance. Over the last 1 year, JEPI returned 1.6% versus -18.7% for QDTE, with dividends reinvested. $10,000 would have grown to $10,159 in JEPI and $8,130 in QDTE.
- Risk. QDTE has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -24.3%, against -13.7% for JEPI.
- Diversification. JEPI holds 135 positions and QDTE holds 6. The ten largest positions make up 18.3% of JEPI and 191.0% of QDTE.
- Size. JEPI is the larger fund with $46.0 billion in assets, against $913 million for QDTE.
Bottom line: JEPI fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification. QDTE fits better if you care most about more income today.
| Metric | JEPI JPMorgan Equity Premium Income ETF | QDTE Roundhill Nasdaq-100 0DTE Covered Call ETF Strategy ETF |
|---|---|---|
| Dividend yield (TTM) | 7.96% | 44.45% |
| Dividend / share (TTM) | $4.56 | $12.50 |
| Payout frequency | Monthly | Weekly |
| Last dividend | $0.3413 on Oct 5, 2026 | $0.1292 on Oct 16, 2026 |
| Ex-dividend date | Oct 1, 2026 | Oct 15, 2026 |
| Dividend growth (CAGR) | 2.5% over 4 yrs | — |
| Price | $57.36 | $28.13 |
| Dividend growth streak | 1 year | — |
| Beta | 0.43 | 1.25 |
| Max drawdown (5Y) | -13.7% | -24.3% |
| Market cap | $45.72B | $902.1M |
| Exchange | AMEX | CBOE |
| Expense ratio | 0.35% | 0.96% |
| Assets under management | $46.01B | $912.7M |
| Number of holdings | 135 | 6 |
| Top 10 concentration | 18.3% | 191.0% |
JEPI
$66.30/mo
$796 /yr at 7.96% yield
QDTE
$370.39/mo
$4445 /yr at 44.45% yield
| Year | JEPI | QDTE |
|---|---|---|
| 2025 | $4.6876 | $13.5402 |
| 2024 | $4.2494 | — |
| 2023 | $4.7634 | — |
| 2022 | $6.2478 | — |
| 2021 | $4.2455 | — |
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 QDTE 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
| Period | JEPI | QDTE |
|---|---|---|
| 1 month | 1.99% | -2.33% |
| 3 months | 1.43% | -3.43% |
| Year to date | 0.21% | -8.79% |
| 1 year | 1.59% | -18.70% |
| 3 years | 29.10% | — |
| 5 years | 33.92% | — |
- JEPI
- QDTE
Both series indexed to 100 on 2024-03-07 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPI
- QDTE
JEPI135 holdings total
| Name | Weight |
|---|---|
| MSFTMICROSOFT CORP COMMON | 1.99% |
| AAPLAPPLE INC COMMON STOCK | 1.94% |
| AMZNAMAZON.COM INC COMMON | 1.91% |
| MAMASTERCARD INC COMMON | 1.91% |
| VVISA INC COMMON STOCK | 1.82% |
| NVDANVIDIA CORP COMMON STOCK | 1.80% |
| METAMETA PLATFORMS INC | 1.80% |
| ABBVABBVIE INC COMMON STOCK | 1.74% |
| GOOGLALPHABET INC-CL A - | 1.72% |
| EOGEOG RESOURCES INC COMMON | 1.71% |
QDTE6 holdings total
| Name | Weight |
|---|---|
| 4QQQ 271119C00070110QQQ 11/19/2027 70.11 C | 73.39% |
| 4NDX 270319C02510150NDX 03/19/2027 2510.15 C | 25.86% |
| 4NDX 261218C024501004NDX US 12/18/26 C2450.1 FLX | 25.04% |
| 4NDX 270611C03059420NDX 06/11/2027 3059.42 C | 22.05% |
| 4NDX 260918C022500004NDX US 09/18/26 C2250 FLX | 18.15% |
| 4QQQ 270917C00070690QQQ 09/17/2027 70.69 C | 17.65% |
| WEEKRoundhill Weekly T-Bill ETF | 5.25% |
| FGXXXFirst American Government Obligations Fund 12/01/2031 | 3.59% |
Quick verdict
JEPI fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification. QDTE fits better if you care most about more income today. 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.