Dividend comparison
JEPI vs QQQI: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and NEOS Nasdaq-100 High Income ETF, side by side. Updated October 21, 2026.
- Fees. JEPI is cheaper at 0.35% a year versus 0.68% for QQQI. On $10,000 that is $33 a year less in fees.
- Income. QQQI pays more income, yielding 14.11% over the last twelve months versus 7.96% for JEPI. That is about $615 more a year on $10,000. Both pay monthly.
- Performance. Over the last 1 year, JEPI returned 1.6% versus 0.7% for QQQI, with dividends reinvested. $10,000 would have grown to $10,159 in JEPI and $10,069 in QQQI.
- Risk. QQQI has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -20.0%, against -13.7% for JEPI.
- Diversification. JEPI holds 135 positions and QQQI holds 10. The ten largest positions make up 18.3% of JEPI and 47.0% of QQQI.
- Overlap. At least 27% of the two portfolios overlap by weight, across 33 shared holdings.
- Size. JEPI is the larger fund with $46.0 billion in assets, against $15.1 billion for QQQI.
Bottom line: JEPI fits better if you care most about lower fees, smaller drawdowns and broader diversification. QQQI fits better if you care most about more income today.
| Metric | JEPI JPMorgan Equity Premium Income ETF | QQQI NEOS Nasdaq-100 High Income ETF |
|---|---|---|
| Dividend yield (TTM) | 7.96% | 14.11% |
| Dividend / share (TTM) | $4.56 | $7.64 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.3413 on Oct 5, 2026 | $0.6339 on Sep 18, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 16, 2026 |
| Dividend growth (CAGR) | 2.5% over 4 yrs | — |
| Price | $57.36 | $54.16 |
| Dividend growth streak | 1 year | — |
| Beta | 0.43 | 0.93 |
| Max drawdown (5Y) | -13.7% | -20.0% |
| Market cap | $45.72B | $14.89B |
| Exchange | AMEX | NASDAQ |
| Expense ratio | 0.35% | 0.68% |
| Assets under management | $46.01B | $15.08B |
| Number of holdings | 135 | 10 |
| Top 10 concentration | 18.3% | 47.0% |
JEPI
$66.30/mo
$796 /yr at 7.96% yield
QQQI
$117.57/mo
$1411 /yr at 14.11% yield
| Year | JEPI | QQQI |
|---|---|---|
| 2025 | $4.6876 | $7.4435 |
| 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 QQQI 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
It owns Nasdaq-100 constituents and applies the same call strategy of sold and purchased index options, sized actively rather than as a fixed full overwrite. Nasdaq-100 volatility is structurally higher, so the option premium collected is larger and the monthly distribution is bigger than the S&P 500 version. NDX options are also section 1256 contracts, so the same 60/40 tax treatment and loss-harvesting mechanics apply.
Suits someone who wants technology-heavy exposure converted into monthly cash with attention paid to tax character. A poor fit if you are holding the Nasdaq-100 specifically to compound growth, because the call overlay gives away the tail of exactly the rallies that index is bought for.
Aggressive tax-aware income
| Period | JEPI | QQQI |
|---|---|---|
| 1 month | 1.99% | -0.42% |
| 3 months | 1.43% | -0.09% |
| Year to date | 0.21% | 0.56% |
| 1 year | 1.59% | 0.69% |
| 3 years | 29.10% | — |
| 5 years | 33.92% | — |
- JEPI
- QQQI
Both series indexed to 100 on 2024-01-30 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPI
- QQQI
| Largest shared holdings | JEPI weight | QQQI weight |
|---|---|---|
| MSFTMICROSOFT CORP COMMON | 1.99% | 6.11% |
| AAPLAPPLE INC COMMON STOCK | 1.94% | 7.81% |
| AMZNAMAZON.COM INC COMMON | 1.91% | 4.47% |
| NVDANVIDIA CORP COMMON STOCK | 1.80% | 8.20% |
| METAMETA PLATFORMS INC | 1.80% | 3.25% |
| GOOGLALPHABET INC-CL A - | 1.72% | 3.13% |
| AVGOBROADCOM INC COMMON | 1.58% | 2.51% |
| COSTCOSTCO WHOLESALE CORP | 1.55% | 1.91% |
| LRCXLAM RESEARCH CORP COMMON | 1.39% | 1.43% |
| AMDADVANCED MICRO DEVICES | 1.00% | 3.81% |
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% |
Quick verdict
JEPI fits better if you care most about lower fees, smaller drawdowns and broader diversification. QQQI 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.