Dividend comparison
JEPI vs QYLD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and Global X - Nasdaq 100 Covered Call ETF, side by side. Updated October 24, 2026.
- Fees. JEPI is cheaper at 0.35% a year versus 0.60% for QYLD. On $10,000 that is $25 a year less in fees.
- Income. QYLD pays more income, yielding 12.79% over the last twelve months versus 8.03% for JEPI. That is about $476 more a year on $10,000. Both pay monthly.
- Performance. Over the last 5 years, JEPI returned 33.0% versus 32.9% for QYLD, with dividends reinvested. $10,000 would have grown to $13,305 in JEPI and $13,287 in QYLD.
- Risk. QYLD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -24.5%, against -13.7% for JEPI.
- Diversification. JEPI holds 135 positions and QYLD holds 102. The ten largest positions make up 18.4% of JEPI and 48.9% of QYLD.
- Overlap. At least 26% of the two portfolios overlap by weight, across 33 shared holdings.
- Dividend growth. JEPI grew its yearly payout 2.5% a year over the last 4 years, versus -2.0% for QYLD.
- Size. JEPI is the larger fund with $45.9 billion in assets, against $8.4 billion for QYLD.
Bottom line: JEPI fits better if you care most about lower fees, smaller drawdowns and faster dividend growth. QYLD fits better if you care most about more income today.
| Metric | JEPI JPMorgan Equity Premium Income ETF | QYLD Global X - Nasdaq 100 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 8.03% | 12.79% |
| Dividend / share (TTM) | $4.56 | $2.31 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.3413 on Oct 5, 2026 | $0.1830 on Oct 22, 2026 |
| Ex-dividend date | Oct 1, 2026 | Oct 19, 2026 |
| Dividend growth (CAGR) | 2.5% over 4 yrs | -2.0% over 4 yrs |
| Price | $56.85 | $18.09 |
| Dividend growth streak | 1 year | — |
| Beta | 0.43 | 0.48 |
| Max drawdown (5Y) | -13.7% | -24.5% |
| Market cap | $45.72B | $8.38B |
| Exchange | AMEX | NASDAQ |
| Expense ratio | 0.35% | 0.60% |
| Assets under management | $45.93B | $8.36B |
| Number of holdings | 135 | 102 |
| Top 10 concentration | 18.4% | 48.9% |
JEPI
$66.90/mo
$803 /yr at 8.03% yield
QYLD
$106.59/mo
$1279 /yr at 12.79% yield
| Year | JEPI | QYLD |
|---|---|---|
| 2025 | $4.6876 | $2.3793 |
| 2024 | $4.2494 | $2.1045 |
| 2023 | $4.7634 | $2.0380 |
| 2022 | $6.2478 | $2.5261 |
| 2021 | $4.2455 | $2.5810 |
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 QYLD 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 follows the Cboe Nasdaq-100 BuyWrite V2 Index: hold the constituents, then write a one-month index call struck at roughly the current level. Writing at the money collects the maximum premium but leaves almost no room to participate when the index rises, so in an up year the fund keeps the premium and forfeits the move. Global X's stated guideline caps the monthly distribution at the lower of half the premiums received or 1% of net asset value, with the excess reinvested.
Suits an investor whose priority is the largest, steadiest monthly payment available from Nasdaq exposure and who does not need the principal to grow. It is a poor long-horizon holding: surrendering nearly all upside on a high-growth index while paying out the premium has historically left the share price grinding lower over full cycles.
Maximum current income, capped upside
| Period | JEPI | QYLD |
|---|---|---|
| 1 month | 0.97% | -2.59% |
| 3 months | 1.13% | 1.52% |
| Year to date | 0.09% | 2.26% |
| 1 year | 1.25% | 6.04% |
| 3 years | 28.94% | 41.06% |
| 5 years | 33.05% | 32.87% |
- JEPI
- QYLD
Both series indexed to 100 on 2021-10-22 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPI
- QYLD
| Largest shared holdings | JEPI weight | QYLD weight |
|---|---|---|
| MSFTMICROSOFT CORP COMMON | 1.98% | 6.30% |
| AAPLAPPLE INC COMMON STOCK | 1.94% | 7.80% |
| AMZNAMAZON.COM INC COMMON | 1.90% | 4.39% |
| NVDANVIDIA CORP COMMON STOCK | 1.83% | 8.55% |
| METAMETA PLATFORMS INC | 1.77% | 3.46% |
| GOOGLALPHABET INC-CL A - | 1.67% | 3.25% |
| AVGOBROADCOM INC COMMON | 1.58% | 2.65% |
| COSTCOSTCO WHOLESALE CORP | 1.55% | 1.84% |
| LRCXLAM RESEARCH CORP COMMON | 1.32% | 1.68% |
| AMDADVANCED MICRO DEVICES | 1.02% | 4.20% |
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, smaller drawdowns and faster dividend growth. QYLD 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.