Dividend comparison

JEPI vs XDTE: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Income ETF and Roundhill Investments - S&P 500 0DTE Covered Call Strategy ETF, side by side. Updated October 21, 2026.

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JEPI vs XDTE: key differences

The short answer, from the latest data on this page.

Fees. JEPI is cheaper at 0.35% a year versus 0.97% for XDTE. On $10,000 that is $62 a year less in fees.
Income. XDTE pays more income, yielding 30.05% over the last twelve months versus 7.96% for JEPI. That is about $2,209 more a year on $10,000. JEPI pays monthly, XDTE pays weekly.
Performance. Over the last 1 year, JEPI returned 1.6% versus -11.3% for XDTE, with dividends reinvested. $10,000 would have grown to $10,159 in JEPI and $8,872 in XDTE.
Risk. XDTE has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -19.1%, against -13.7% for JEPI.
Diversification. JEPI holds 135 positions and XDTE holds 6. The ten largest positions make up 18.3% of JEPI and 192.2% of XDTE.
Size. JEPI is the larger fund with $46.0 billion in assets, against $324 million for XDTE.

Bottom line: JEPI fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification. XDTE 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.

Metric	JEPI JPMorgan Equity Premium Income ETF	XDTE Roundhill Investments - S&P 500 0DTE Covered Call Strategy ETF
Dividend yield (TTM)	7.96%	30.05%
Dividend / share (TTM)	$4.56	$11.46
Payout frequency	Monthly	Weekly
Last dividend	$0.3413 on Oct 5, 2026	$0.1440 on Oct 16, 2026
Ex-dividend date	Oct 1, 2026	Oct 15, 2026
Dividend growth (CAGR)	2.5% over 4 yrs	—
Price	$57.36	$38.14
Dividend growth streak	1 year	—
Beta	0.43	0.92
Max drawdown (5Y)	-13.7%	-19.1%
Market cap	$45.72B	$322.3M
Exchange	AMEX	CBOE
Expense ratio	0.35%	0.97%
Assets under management	$46.01B	$324.2M
Number of holdings	135	6
Top 10 concentration	18.3%	192.2%

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

XDTE

$250.41/mo

$3005 /yr at 30.05% yield

Dividend history

Total dividends paid per share in each calendar year. JEPI pays monthly; XDTE pays weekly.

Year	JEPI	XDTE
2025	$4.6876	$13.4830
2024	$4.2494	—
2023	$4.7634	—
2022	$6.2478	—
2021	$4.2455	—

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 XDTE 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 Mar 7, 2024 would now be worth $11,523 in JEPI and $11,281 in XDTE.

Period	JEPI	XDTE
1 month	1.99%	-0.57%
3 months	1.43%	-0.88%
Year to date	0.21%	-3.86%
1 year	1.59%	-11.28%
3 years	29.10%	—
5 years	33.92%	—

JEPI
XDTE

Both series indexed to 100 on 2024-03-07 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
XDTE

JEPI vs XDTE 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

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%

XDTE6 holdings total

Name	Weight
4SPY 271119C00077430SPY 11/19/2027 77.43 C	89.76%
4SPX 270319C00678800SPX 03/19/2027 678.8 C	67.92%
4SPX 270611C00678800SPX 06/11/2027 678.8 C	24.55%
WEEKRoundhill Weekly T-Bill ETF	7.48%
FGXXXFirst American Government Obligations Fund 12/01/2031	2.52%

Quick verdict

JEPI fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification. XDTE 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 XDTE better for dividend income?

It depends on your goals. JEPI currently yields 7.96% Trailing Twelve Months (TTM) while XDTE yields 30.05%. 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 XDTE?

JPMorgan Equity Premium Income ETF (JEPI) is an ETF listed on AMEX. Roundhill Investments - S&P 500 0DTE Covered Call Strategy ETF (XDTE) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.

Which is cheaper, JEPI or XDTE?

JEPI has the lower expense ratio. JEPI charges 0.35% a year and XDTE charges 0.97%, a difference of $62 a year on a $10,000 investment.

Which has performed better, JEPI or XDTE?

Over the last 1 year, JEPI has the higher total return with dividends reinvested: JEPI returned 1.6% and XDTE returned -11.3%. Past performance does not predict future returns.

Which is riskier, JEPI or XDTE?

Measured by the worst peak-to-trough decline over the last five years, XDTE has been riskier: JEPI fell as much as 13.7% and XDTE as much as 19.1%. Their betas are 0.43 and 0.92.

How often do JEPI and XDTE pay dividends?

JEPI pays monthly and XDTE pays weekly.

How much income does $10,000 in JEPI vs XDTE generate?

At current TTM yields, $10,000 in JEPI would generate roughly $66.30 per month ($796 annually). The same amount in XDTE would produce about $250.41 per month ($3005 annually). Actual payouts vary with distribution changes and reinvestment.

Can I hold both JEPI and XDTE?

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 XDTE with my full portfolio?

Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how JEPI and XDTE 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.