Dividend comparison
JEPQ vs DIVO: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and Amplify CWP Enhanced Dividend Income ETF, side by side. Updated October 21, 2026.
- Fees. JEPQ is cheaper at 0.35% a year versus 0.56% for DIVO. On $10,000 that is $21 a year less in fees.
- Income. JEPQ pays more income, yielding 11.58% over the last twelve months versus 6.28% for DIVO. That is about $530 more a year on $10,000. JEPQ pays monthly, DIVO pays quarterly.
- Performance. Over the last 3 years, JEPQ returned 61.0% versus 54.5% for DIVO, with dividends reinvested. $10,000 would have grown to $16,100 in JEPQ and $15,445 in DIVO.
- Risk. JEPQ has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -20.1%, against -13.7% for DIVO.
- Diversification. JEPQ holds 110 positions and DIVO holds 30.
- Dividend growth. DIVO grew its yearly payout 11.9% a year over the last 2 years, versus 7.6% for JEPQ.
- Size. JEPQ is the larger fund with $43.8 billion in assets, against $8.0 billion for DIVO.
Bottom line: JEPQ fits better if you care most about lower fees, more income today, stronger 3-year returns and broader diversification. DIVO fits better if you care most about smaller drawdowns and faster dividend growth.
| Metric | JEPQ JPMorgan Nasdaq Equity Premium Income ETF | DIVO Amplify CWP Enhanced Dividend Income ETF |
|---|---|---|
| Dividend yield (TTM) | 11.58% | 6.28% |
| Dividend / share (TTM) | $6.88 | $3.02 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.5669 on Oct 5, 2026 | $0.1890 on Sep 30, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 29, 2026 |
| Dividend growth (CAGR) | 7.6% over 2 yrs | 11.9% over 4 yrs |
| Price | $59.44 | $48.02 |
| Dividend growth streak | 2 years | 3 years |
| Beta | 0.83 | 0.56 |
| Max drawdown (5Y) | -20.1% | -13.7% |
| Market cap | $43.19B | $8.01B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.56% |
| Assets under management | $43.83B | $7.99B |
| Number of holdings | 110 | 30 |
| Top 10 concentration | 43.1% | — |
JEPQ
$96.52/mo
$1158 /yr at 11.58% yield
DIVO
$52.35/mo
$628 /yr at 6.28% yield
| Year | JEPQ | DIVO |
|---|---|---|
| 2025 | $6.0025 | $2.8660 |
| 2024 | $5.3800 | $1.9013 |
| 2023 | $5.1840 | $1.7085 |
| 2022 | — | $1.7074 |
| 2021 | — | $1.8280 |
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 JEPQ vs DIVO actually do
The equity sleeve stays close to the Nasdaq-100 while applying JPMorgan's own research overlay, and equity-linked notes supply the short call exposure on the index. Because Nasdaq-100 options carry higher implied volatility than S&P 500 options, the fund collects more premium and pays a bigger monthly distribution than its S&P 500 sibling. The trade is symmetrical: the underlying portfolio is more volatile, so drawdowns are deeper and the capped upside costs more in a technology-led melt-up.
Suits an income investor who wants exposure to large-cap technology but would rather be paid monthly than wait for capital gains. Not a fit for anyone who wants full participation in Nasdaq rallies or who cannot tolerate a growth-heavy, concentrated portfolio underneath the options.
Aggressive equity income
The manager runs a hand-picked book of roughly 20 to 30 large-cap dividend stocks rather than tracking an index. Instead of keeping every position covered, calls are written tactically on single names, typically when a holding has run up or its implied volatility is elevated. That preserves far more upside than a blanket index overwrite, but it makes option income lumpy and puts the outcome on manager judgment rather than a published rule.
Suits an investor who wants dividend income lifted by option premium without surrendering most of the appreciation. Less suitable for anyone who wants a fully rules-based product, the lowest fee, or the highest available distribution rate.
Moderate income with growth
| Period | JEPQ | DIVO |
|---|---|---|
| 1 month | -1.33% | 1.37% |
| 3 months | 1.59% | 3.58% |
| Year to date | 2.27% | 7.91% |
| 1 year | 4.26% | 8.28% |
| 3 years | 61.00% | 54.45% |
| 5 years | — | 59.59% |
- JEPQ
- DIVO
Both series indexed to 100 on 2022-05-04 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPQ
- DIVO
JEPQ110 holdings total
| Name | Weight |
|---|---|
| NVDANVIDIA CORP COMMON STOCK | 7.17% |
| AAPLAPPLE INC COMMON STOCK | 6.73% |
| MSFTMICROSOFT CORP COMMON | 5.54% |
| GOOGALPHABET INC-CL C - | 4.83% |
| MUMICRON TECHNOLOGY INC | 4.29% |
| AMZNAMAZON.COM INC COMMON | 4.02% |
| AMDADVANCED MICRO DEVICES | 3.55% |
| METAMETA PLATFORMS INC | 2.96% |
| TSLATESLA INC COMMON STOCK | 2.13% |
| AVGOBROADCOM INC COMMON | 1.90% |
Quick verdict
JEPQ fits better if you care most about lower fees, more income today, stronger 3-year returns and broader diversification. DIVO fits better if you care most about smaller drawdowns and faster dividend growth. Model the holding inside your real portfolio before deciding.
Frequently asked questions
Is JEPQ or DIVO better for dividend income?
What is the difference between JEPQ and DIVO?
Which is cheaper, JEPQ or DIVO?
Which has performed better, JEPQ or DIVO?
Which is riskier, JEPQ or DIVO?
How often do JEPQ and DIVO pay dividends?
How much income does $10,000 in JEPQ vs DIVO generate?
Can I hold both JEPQ and DIVO?
Where can I compare JEPQ vs DIVO 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.