Dividend comparison
JEPI vs VYM: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and Vanguard High Dividend Yield ETF, side by side. Updated October 21, 2026.
- Fees. VYM is cheaper at 0.04% a year versus 0.35% for JEPI. On $10,000 that is $31 a year less in fees.
- Income. JEPI pays more income, yielding 7.96% over the last twelve months versus 2.28% for VYM. That is about $568 more a year on $10,000. JEPI pays monthly, VYM pays quarterly.
- Performance. Over the last 5 years, VYM returned 67.0% versus 33.9% for JEPI, with dividends reinvested. $10,000 would have grown to $16,701 in VYM and $13,392 in JEPI.
- Risk. VYM has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -15.8%, against -13.7% for JEPI.
- Diversification. VYM holds 589 positions and JEPI holds 135. The ten largest positions make up 18.3% of JEPI and 26.2% of VYM.
- Overlap. At least 24% of the two portfolios overlap by weight, across 41 shared holdings.
- Dividend growth. VYM grew its yearly payout 3.1% a year over the last 4 years, versus 2.5% for JEPI.
- Size. VYM is the larger fund with $95.8 billion in assets, against $46.0 billion for JEPI.
Bottom line: JEPI fits better if you care most about more income today. VYM fits better if you care most about lower fees, stronger 5-year returns and broader diversification.
| Metric | JEPI JPMorgan Equity Premium Income ETF | VYM Vanguard High Dividend Yield ETF |
|---|---|---|
| Dividend yield (TTM) | 7.96% | 2.28% |
| Dividend / share (TTM) | $4.56 | $3.68 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.3413 on Oct 5, 2026 | $0.8869 on Sep 22, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 18, 2026 |
| Dividend growth (CAGR) | 2.5% over 4 yrs | 3.1% over 4 yrs |
| Price | $57.36 | $161.15 |
| Dividend growth streak | 1 year | 15 years |
| Beta | 0.43 | 0.75 |
| Max drawdown (5Y) | -13.7% | -15.8% |
| Market cap | $45.72B | $95.79B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.35% | 0.04% |
| Assets under management | $46.01B | $95.80B |
| Number of holdings | 135 | 589 |
| Top 10 concentration | 18.3% | 26.2% |
JEPI
$66.30/mo
$796 /yr at 7.96% yield
VYM
$19.01/mo
$228 /yr at 2.28% yield
| Year | JEPI | VYM |
|---|---|---|
| 2025 | $4.6876 | $3.5008 |
| 2024 | $4.2494 | $3.4945 |
| 2023 | $4.7634 | $3.4780 |
| 2022 | $6.2478 | $3.2518 |
| 2021 | $4.2455 | $3.0961 |
Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.
What JEPI vs VYM 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 FTSE High Dividend Yield Index, which ranks US dividend payers by forecast yield, excludes REITs, and works down that ranking until roughly half the market value of the eligible universe is covered. Selection is on yield alone with no quality or growth screen, so the portfolio is wide and diversified but includes some payers a stricter screen would reject. Weighting is by market cap, meaning the biggest dividend-paying companies dominate.
Suits an investor who wants dependable above-market income with maximum breadth and minimum concentration risk. Less suitable if you specifically want dividend growth or a fundamental quality filter, since neither is part of the selection rule.
Core dividend holding
| Period | JEPI | VYM |
|---|---|---|
| 1 month | 1.99% | 1.19% |
| 3 months | 1.43% | 0.62% |
| Year to date | 0.21% | 12.28% |
| 1 year | 1.59% | 14.10% |
| 3 years | 29.10% | 68.66% |
| 5 years | 33.92% | 67.01% |
- JEPI
- VYM
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPI
- VYM
| Largest shared holdings | JEPI weight | VYM weight |
|---|---|---|
| ABBVABBVIE INC COMMON STOCK | 1.74% | 1.96% |
| JNJJOHNSON & COMMON | 1.68% | 2.71% |
| AVGOBROADCOM INC COMMON | 1.58% | 6.93% |
| PMPHILIP MORRIS | 1.62% | 1.26% |
| RTXRTX CORP | 1.20% | 1.06% |
| CCITIGROUP INC COMMON | 0.98% | 0.91% |
| DISTHE WALT DISNEY COMPANY | 1.03% | 0.77% |
| PEPPEPSICO INC COMMON STOCK | 1.03% | 0.73% |
| ETNEATON CORP PLC COMMON | 1.30% | 0.71% |
| NEENEXTERA ENERGY INC | 1.70% | 0.67% |
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 more income today. VYM fits better if you care most about lower fees, stronger 5-year returns and broader diversification. 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.