Dividend comparison
JEPI vs SCHD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and Schwab U.S. Dividend Equity ETF, side by side. Updated October 24, 2026.
- Fees. SCHD is cheaper at 0.06% a year versus 0.35% for JEPI. On $10,000 that is $29 a year less in fees.
- Income. JEPI pays more income, yielding 8.03% over the last twelve months versus 2.99% for SCHD. That is about $504 more a year on $10,000. JEPI pays monthly, SCHD pays quarterly.
- Performance. Over the last 5 years, SCHD returned 60.9% versus 32.0% for JEPI, with dividends reinvested. $10,000 would have grown to $16,090 in SCHD and $13,203 in JEPI.
- Risk. SCHD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -16.8%, against -13.7% for JEPI.
- Diversification. JEPI holds 135 positions and SCHD holds 102. The ten largest positions make up 18.4% of JEPI and 41.4% of SCHD.
- Overlap. At least 8% of the two portfolios overlap by weight, across 13 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 4 years, versus 2.5% for JEPI.
- Size. SCHD is the larger fund with $118.7 billion in assets, against $45.6 billion for JEPI.
Bottom line: JEPI fits better if you care most about more income today and smaller drawdowns. SCHD fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth.
| Metric | JEPI JPMorgan Equity Premium Income ETF | SCHD Schwab U.S. Dividend Equity ETF |
|---|---|---|
| Dividend yield (TTM) | 8.03% | 2.99% |
| Dividend / share (TTM) | $4.56 | $1.05 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.3413 on Oct 5, 2026 | $0.2665 on Sep 28, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 2.5% over 4 yrs | 8.7% over 4 yrs |
| Price | $56.85 | $35.27 |
| Dividend growth streak | 1 year | 13 years |
| Beta | 0.43 | 0.58 |
| Max drawdown (5Y) | -13.7% | -16.8% |
| Market cap | $45.72B | $98.31B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.35% | 0.06% |
| Assets under management | $45.61B | $118.70B |
| Number of holdings | 135 | 102 |
| Top 10 concentration | 18.4% | 41.4% |
JEPI
$66.90/mo
$803 /yr at 8.03% yield
SCHD
$24.91/mo
$299 /yr at 2.99% yield
| Year | JEPI | SCHD |
|---|---|---|
| 2025 | $4.6876 | $1.0476 |
| 2024 | $4.2494 | $0.9944 |
| 2023 | $4.7634 | $0.8862 |
| 2022 | $6.2478 | $0.8540 |
| 2021 | $4.2455 | $0.7499 |
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 SCHD 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 tracks the Dow Jones U.S. Dividend 100 Index, which first requires at least ten consecutive years of dividends, then ranks the survivors on a composite of cash flow to total debt, return on equity, dividend yield and five-year dividend growth. The top 100 are held at market-cap weights with a 4% cap per stock and 25% per sector, reconstituted annually and rebalanced quarterly. Those quality screens push the portfolio toward mature value sectors and largely out of high-growth technology, which is the single biggest reason its return diverges from the S&P 500 in either direction.
Suits an investor who wants a growing dividend stream plus share-price participation and can sit out technology-led rallies without changing course. Not a match for someone who needs the highest available current yield or wants full market exposure.
Core dividend holding
| Period | JEPI | SCHD |
|---|---|---|
| 1 month | 0.48% | 5.98% |
| 3 months | 0.76% | 8.39% |
| Year to date | -0.68% | 31.75% |
| 1 year | 0.19% | 35.08% |
| 3 years | 28.39% | 70.30% |
| 5 years | 32.03% | 60.90% |
- JEPI
- SCHD
Both series indexed to 100 on 2021-10-23 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPI
- SCHD
| Largest shared holdings | JEPI weight | SCHD weight |
|---|---|---|
| EOGEOG RESOURCES INC COMMON | 1.70% | 1.97% |
| PEPPEPSICO INC COMMON STOCK | 1.06% | 3.88% |
| COPCONOCOPHILLIPS COMMON | 0.87% | 4.17% |
| ACNACCENTURE PLC COMMON | 0.66% | 3.77% |
| BMYBRISTOL-MYERS SQUIBB CO | 0.64% | 3.06% |
| UNHUNITEDHEALTH GROUP INC | 0.62% | 4.18% |
| PGTHE PROCTER & GAMBLE | 0.60% | 4.41% |
| KOTHE COCA-COLA COMPANY | 0.50% | 4.25% |
| MRKMERCK & CO INC COMMON | 0.37% | 3.82% |
| VZVERIZON COMMUNICATIONS | 0.37% | 3.54% |
JEPI135 holdings total
| Name | Weight |
|---|---|
| AAPLAPPLE INC COMMON STOCK | 1.96% |
| MAMASTERCARD INC COMMON | 1.95% |
| MSFTMICROSOFT CORP COMMON | 1.94% |
| VVISA INC COMMON STOCK | 1.86% |
| AMZNAMAZON.COM INC COMMON | 1.82% |
| MMM3M CO COMMON STOCK USD | 1.79% |
| NEENEXTERA ENERGY INC | 1.77% |
| JNJJOHNSON & COMMON | 1.76% |
| NVDANVIDIA CORP COMMON STOCK | 1.75% |
| ABBVABBVIE INC COMMON STOCK | 1.75% |
Quick verdict
JEPI fits better if you care most about more income today and smaller drawdowns. SCHD fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth. Model the holding inside your real portfolio before deciding.
Frequently asked questions
Is JEPI or SCHD better for dividend income?
What is the difference between JEPI and SCHD?
Which is cheaper, JEPI or SCHD?
Which has performed better, JEPI or SCHD?
Which is riskier, JEPI or SCHD?
How much do JEPI and SCHD overlap?
How often do JEPI and SCHD pay dividends?
How much income does $10,000 in JEPI vs SCHD generate?
Can I hold both JEPI and SCHD?
Where can I compare JEPI vs SCHD with my full portfolio?
Related comparisons
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.