Dividend comparison
JEPI vs ROCY: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and JPMorgan Equity Premium Yield ETF, side by side. Updated October 21, 2026.
- Fees. Both charge about 0.35% a year, so cost is not what separates them.
- Income. JEPI pays more income, yielding 7.96% over the last twelve months versus 3.85% for ROCY. That is about $411 more a year on $10,000. JEPI pays monthly, ROCY pays quarterly.
- Risk. JEPI has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -13.7%, against -3.5% for ROCY.
- Diversification. JEPI holds 135 positions and ROCY holds 114. The ten largest positions make up 18.3% of JEPI and 42.8% of ROCY.
- Overlap. At least 45% of the two portfolios overlap by weight, across 64 shared holdings.
- Size. JEPI is the larger fund with $46.0 billion in assets, against $836 million for ROCY.
Bottom line: JEPI fits better if you care most about more income today. ROCY fits better if you care most about smaller drawdowns.
| Metric | JEPI JPMorgan Equity Premium Income ETF | ROCY JPMorgan Equity Premium Yield ETF |
|---|---|---|
| Dividend yield (TTM) | 7.96% | 3.85% |
| Dividend / share (TTM) | $4.56 | $2.12 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.3413 on Oct 5, 2026 | $0.3054 on Oct 5, 2026 |
| Ex-dividend date | Oct 1, 2026 | Oct 1, 2026 |
| Dividend growth (CAGR) | 2.5% over 4 yrs | — |
| Price | $57.36 | $55.15 |
| Dividend growth streak | 1 year | — |
| Beta | 0.43 | 0.69 |
| Max drawdown (5Y) | -13.7% | -3.5% |
| Market cap | $45.72B | $109.1M |
| Exchange | AMEX | NASDAQ |
| Expense ratio | 0.35% | 0.35% |
| Assets under management | $46.01B | $835.9M |
| Number of holdings | 135 | 114 |
| Top 10 concentration | 18.3% | 42.8% |
JEPI
$66.30/mo
$796 /yr at 7.96% yield
ROCY
$32.05/mo
$385 /yr at 3.85% yield
| Year | JEPI | ROCY |
|---|---|---|
| 2025 | $4.6876 | — |
| 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 ROCY 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 | ROCY |
|---|---|---|
| 1 month | 1.99% | 0.60% |
| 3 months | 1.43% | 1.81% |
| Year to date | 0.21% | — |
| 1 year | 1.59% | — |
| 3 years | 29.10% | — |
| 5 years | 33.92% | — |
- JEPI
- ROCY
Both series indexed to 100 on 2026-04-21 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPI
- ROCY
| Largest shared holdings | JEPI weight | ROCY weight |
|---|---|---|
| MSFTMICROSOFT CORP COMMON | 1.99% | 6.68% |
| AAPLAPPLE INC COMMON STOCK | 1.94% | 7.54% |
| AMZNAMAZON.COM INC COMMON | 1.91% | 4.11% |
| NVDANVIDIA CORP COMMON STOCK | 1.80% | 8.46% |
| METAMETA PLATFORMS INC | 1.80% | 2.89% |
| MAMASTERCARD INC COMMON | 1.91% | 1.79% |
| GOOGLALPHABET INC-CL A - | 1.72% | 4.80% |
| AVGOBROADCOM INC COMMON | 1.58% | 2.14% |
| ABBVABBVIE INC COMMON STOCK | 1.74% | 1.57% |
| PMPHILIP MORRIS | 1.62% | 1.31% |
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% |
ROCY114 holdings total
| Name | Weight |
|---|---|
| NVDANVIDIA CORP COMMON STOCK | 8.46% |
| AAPLAPPLE INC COMMON STOCK | 7.54% |
| MSFTMICROSOFT CORP COMMON | 6.68% |
| GOOGLALPHABET INC-CL A - | 4.80% |
| AMZNAMAZON.COM INC COMMON | 4.11% |
| METAMETA PLATFORMS INC | 2.89% |
| MUMICRON TECHNOLOGY INC | 2.16% |
| AVGOBROADCOM INC COMMON | 2.14% |
| XOMEXXONMOBIL HOLDINGS CORP | 2.02% |
| WFCWELLS FARGO & CO COMMON | 1.97% |
Quick verdict
JEPI fits better if you care most about more income today. ROCY fits better if you care most about smaller drawdowns. Model the holding inside your real portfolio before deciding.
Frequently asked questions
Is JEPI or ROCY better for dividend income?
What is the difference between JEPI and ROCY?
Which is cheaper, JEPI or ROCY?
Which is riskier, JEPI or ROCY?
How much do JEPI and ROCY overlap?
How often do JEPI and ROCY pay dividends?
How much income does $10,000 in JEPI vs ROCY generate?
Can I hold both JEPI and ROCY?
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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.