Dividend comparison

JEPI vs RYLD: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and Global X - Russell 2000 Covered Call ETF, side by side. Updated October 21, 2026.

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JEPI vs RYLD: key differences
The short answer, from the latest data on this page.
  • Fees. JEPI is cheaper at 0.35% a year versus 0.60% for RYLD. On $10,000 that is $25 a year less in fees.
  • Income. RYLD pays more income, yielding 12.32% over the last twelve months versus 7.96% for JEPI. That is about $436 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 5 years, JEPI returned 33.9% versus -1.1% for RYLD, with dividends reinvested. $10,000 would have grown to $13,392 in JEPI and $9,889 in RYLD.
  • Risk. RYLD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -21.5%, against -13.7% for JEPI.
  • Diversification. JEPI holds 135 positions and RYLD holds 8. The ten largest positions make up 18.3% of JEPI and 100.0% of RYLD.
  • Dividend growth. JEPI grew its yearly payout 2.5% a year over the last 4 years, versus -9.1% for RYLD.
  • Size. JEPI is the larger fund with $46.0 billion in assets, against $1.3 billion for RYLD.

Bottom line: JEPI fits better if you care most about lower fees, stronger 5-year returns, smaller drawdowns, faster dividend growth and broader diversification. RYLD fits better if you care most about more income today.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricJEPI
JPMorgan Equity Premium Income ETF
RYLD
Global X - Russell 2000 Covered Call ETF
Dividend yield (TTM)7.96%12.32%
Dividend / share (TTM)$4.56$1.87
Payout frequencyMonthlyMonthly
Last dividend$0.3413 on Oct 5, 2026$0.1475 on Sep 24, 2026
Ex-dividend dateOct 1, 2026Oct 19, 2026
Next payment—$0.1480 on Oct 22, 2026
Dividend growth (CAGR)2.5% over 4 yrs-9.1% over 4 yrs
Price$57.36$15.19
Dividend growth streak1 year—
Beta0.430.54
Max drawdown (5Y)-13.7%-21.5%
Market cap$45.72B$1.29B
ExchangeAMEXAMEX
Expense ratio0.35%0.60%
Assets under management$46.01B$1.29B
Number of holdings1358
Top 10 concentration18.3%100.0%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

JEPI

$66.30/mo

$796 /yr at 7.96% yield

RYLD

$102.65/mo

$1232 /yr at 12.32% yield

Dividend history
Total dividends paid per share in each calendar year. JEPI pays monthly; RYLD pays monthly.
YearJEPIRYLD
2025$4.6876$2.0022
2024$4.2494$1.9660
2023$4.7634$2.1365
2022$6.2478$2.6570
2021$4.2455$2.9360
Strategy: Options income
These funds own equities and sell call options against them, converting a share of future price appreciation into cash paid out now. How much upside is surrendered depends on the design: writing at the money on the whole portfolio pays the most and keeps the least, while writing on a partial slice or using purchased offsets keeps more of a rally. Distributions come mainly from option premium rather than from company dividends, so the headline yield is not comparable to a dividend fund's.

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 RYLD actually do

JEPI
An actively managed ETF that holds a defensive slice of US large-cap stocks and earns extra income from S&P 500 call options sold through equity-linked notes.

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

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,392 in JEPI and $9,889 in RYLD.
PeriodJEPIRYLD
1 month1.99%-2.57%
3 months1.43%-6.00%
Year to date0.21%-0.72%
1 year1.59%-0.20%
3 years29.10%21.33%
5 years33.92%-1.11%
  • JEPI
  • RYLD
7610914220212022202320242025202613499

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • JEPI
  • RYLD
0%5%10%15%20%Healthcare11.6%20.1%Technology15.5%13.9%Financial Services9.7%18.4%Industrials10.1%13.2%Consumer Cyclical8.7%9.0%Cash & Others17.4%0.0%Consumer Defensive8.5%2.8%Energy3.1%6.7%Communication Services7.5%2.3%Real Estate1.9%6.5%Other5.9%7.1%
JEPI vs RYLD holdings overlap
At least 0% overlap by weight, with 0 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Top 10 holdings
Largest positions by portfolio weight.

JEPI135 holdings total

NameWeight
MSFTMICROSOFT CORP COMMON1.99%
AAPLAPPLE INC COMMON STOCK1.94%
AMZNAMAZON.COM INC COMMON1.91%
MAMASTERCARD INC COMMON1.91%
VVISA INC COMMON STOCK1.82%
NVDANVIDIA CORP COMMON STOCK1.80%
METAMETA PLATFORMS INC1.80%
ABBVABBVIE INC COMMON STOCK1.74%
GOOGLALPHABET INC-CL A -1.72%
EOGEOG RESOURCES INC COMMON1.71%

RYLD8 holdings total

NameWeight
RSSLGLOBAL X RUSSELL 2000 ETF100.03%
RAINRAIN ONCOLOGY INC0.00%

Quick verdict

JEPI fits better if you care most about lower fees, stronger 5-year returns, smaller drawdowns, faster dividend growth and broader diversification. RYLD fits better if you care most about more income today. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is JEPI or RYLD better for dividend income?
It depends on your goals. JEPI currently yields 7.96% Trailing Twelve Months (TTM) while RYLD yields 12.32%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between JEPI and RYLD?
JPMorgan Equity Premium Income ETF (JEPI) is an ETF listed on AMEX. Global X - Russell 2000 Covered Call ETF (RYLD) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, JEPI or RYLD?
JEPI has the lower expense ratio. JEPI charges 0.35% a year and RYLD charges 0.60%, a difference of $25 a year on a $10,000 investment.
Which has performed better, JEPI or RYLD?
Over the last 5 years, JEPI has the higher total return with dividends reinvested: JEPI returned 33.9% and RYLD returned -1.1%. Past performance does not predict future returns.
Which is riskier, JEPI or RYLD?
Measured by the worst peak-to-trough decline over the last five years, RYLD has been riskier: JEPI fell as much as 13.7% and RYLD as much as 21.5%. Their betas are 0.43 and 0.54.
How often do JEPI and RYLD pay dividends?
Both pay monthly. The most recent payments were $0.3413 for JEPI and $0.1475 for RYLD.
How much income does $10,000 in JEPI vs RYLD generate?
At current TTM yields, $10,000 in JEPI would generate roughly $66.30 per month ($796 annually). The same amount in RYLD would produce about $102.65 per month ($1232 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both JEPI and RYLD?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare JEPI vs RYLD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how JEPI and RYLD fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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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.