Dividend comparison

JEPQ vs GPIQ: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and Goldman Sachs Nasdaq-100 Premium Income ETF, side by side. Updated October 25, 2026.

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JEPQ vs GPIQ: key differences

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

Fees. Both charge about 0.35% a year, so cost is not what separates them.
Income. JEPQ pays more income, yielding 11.78% over the last twelve months versus 10.44% for GPIQ. That is about $134 more a year on $10,000. Both pay monthly.
Performance. Over the last 3 years, GPIQ returned 587.5% versus 57.7% for JEPQ, with dividends reinvested. $10,000 would have grown to $68,755 in GPIQ and $15,771 in JEPQ.
Risk. GPIQ has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -100.0%, against -20.1% for JEPQ.
Diversification. JEPQ holds 109 positions and GPIQ holds 107. The ten largest positions make up 42.6% of JEPQ and 47.3% of GPIQ.
Overlap. At least 70% of the two portfolios overlap by weight, across 73 shared holdings. Owning both adds little diversification.
Size. JEPQ is the larger fund with $42.8 billion in assets, against $6.3 billion for GPIQ.

Bottom line: JEPQ fits better if you care most about more income today and smaller drawdowns. GPIQ fits better if you care most about stronger 3-year returns. With 70% overlap, most investors would hold one or the other rather than both.

Side-by-side snapshot

Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.

Metric	JEPQ JPMorgan Nasdaq Equity Premium Income ETF	GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF
Dividend yield (TTM)	11.78%	10.44%
Dividend / share (TTM)	$6.88	$5.77
Payout frequency	Monthly	Monthly
Last dividend	$0.5669 on Oct 5, 2026	$0.5088 on Oct 7, 2026
Ex-dividend date	Oct 1, 2026	Oct 1, 2026
Dividend growth (CAGR)	7.6% over 2 yrs	—
Price	$58.43	$55.21
Dividend growth streak	2 years	1 year
Beta	0.83	1.16
Max drawdown (5Y)	-20.1%	-100.0%
Market cap	$43.19B	$1.19B
Exchange	NASDAQ	NASDAQ
Expense ratio	0.35%	0.35%
Assets under management	$42.76B	$6.25B
Number of holdings	109	107
Top 10 concentration	42.6%	47.3%

Income on a $10,000 investment

Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

JEPQ

$98.19/mo

$1178 /yr at 11.78% yield

GPIQ

$87.03/mo

$1044 /yr at 10.44% yield

Dividend history

Total dividends paid per share in each calendar year. JEPQ pays monthly; GPIQ pays monthly.

Year	JEPQ	GPIQ
2025	$6.0025	$5.1860
2024	$5.3800	$4.8875
2023	$5.1840	—

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 JEPQ vs GPIQ actually do

JEPQ

The Nasdaq-100 version of the same JPMorgan strategy: an actively managed portfolio of large-cap growth stocks plus call options written through equity-linked notes.

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

GPIQ

Goldman Sachs's actively managed Nasdaq-100 income ETF, pairing the index with a variable call overlay.

Rather than overwriting the whole portfolio every month, the manager sells calls against roughly 25% to 75% of the equity exposure and adjusts that share with market conditions. Leaving part of the book uncovered is the deliberate design choice: it produces a smaller distribution than a full overwrite but keeps more of a rally. Fees sit well below most options-income peers, which matters over time in a category where the overlay already caps returns.

Suits an investor who wants Nasdaq-100 income but is not willing to give up the whole upside to get the highest headline yield. Less suitable for someone comparing purely on distribution rate, since a partial overwrite by design pays less than a full one.

Balanced income and growth

Performance

Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 19, 2023 would now be worth $15,640 in JEPQ and $68,755 in GPIQ.

Period	JEPQ	GPIQ
1 month	-4.37%	-4.83%
3 months	-0.17%	-1.02%
Year to date	0.53%	5.34%
1 year	2.26%	6.25%
3 years	57.71%	587.55%
5 years	—	—

JEPQ
GPIQ

Both series indexed to 100 on 2023-10-19 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.

JEPQ
GPIQ

JEPQ vs GPIQ holdings overlap

At least 70% overlap by weight, with 73 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.

Largest shared holdings	JEPQ weight	GPIQ weight
NVDANVIDIA CORP COMMON STOCK	7.14%	8.16%
AAPLAPPLE INC COMMON STOCK	6.96%	8.10%
MSFTMICROSOFT CORP COMMON	5.51%	6.20%
MUMICRON TECHNOLOGY INC	4.14%	4.26%
AMZNAMAZON.COM INC COMMON	3.90%	4.26%
AMDADVANCED MICRO DEVICES	3.42%	3.66%
METAMETA PLATFORMS INC	2.77%	3.13%
TSLATESLA INC COMMON STOCK	2.21%	3.08%
WMTWALMART INC COMMON STOCK	1.93%	2.30%
GOOGALPHABET INC-CL C -	4.64%	1.88%

Top 10 holdings

Largest positions by portfolio weight.

JEPQ109 holdings total

Name	Weight
NVDANVIDIA CORP COMMON STOCK	7.14%
AAPLAPPLE INC COMMON STOCK	6.96%
MSFTMICROSOFT CORP COMMON	5.51%
GOOGALPHABET INC-CL C -	4.64%
MUMICRON TECHNOLOGY INC	4.14%
AMZNAMAZON.COM INC COMMON	3.90%
AMDADVANCED MICRO DEVICES	3.42%
METAMETA PLATFORMS INC	2.77%
TSLATESLA INC COMMON STOCK	2.21%
WMTWALMART INC COMMON STOCK	1.93%

GPIQ107 holdings total

Name	Weight
NVDANVIDIA CORPORATION	8.16%
AAPLAPPLE INC.	8.10%
MSFTMICROSOFT CORPORATION	6.20%
MUMICRON TECHNOLOGY, INC.	4.26%
AMZNAMAZON.COM INC	4.26%
GOOGLALPHABET INC.	3.79%
AMDADVANCED MICRO DEVICES INC.	3.66%
METAMETA PLATFORMS INC-CLASS A	3.13%
TSLATESLA INC.	3.08%
SPCXSPACE EXPLORATION TECHNOLOGIES CORP.	2.70%

Quick verdict

JEPQ fits better if you care most about more income today and smaller drawdowns. GPIQ fits better if you care most about stronger 3-year returns. With 70% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is JEPQ or GPIQ better for dividend income?

It depends on your goals. JEPQ currently yields 11.78% Trailing Twelve Months (TTM) while GPIQ yields 10.44%. 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 JEPQ and GPIQ?

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an ETF listed on NASDAQ. Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.

Which is cheaper, JEPQ or GPIQ?

They cost about the same: JEPQ charges 0.35% a year and GPIQ charges 0.35%.

Which has performed better, JEPQ or GPIQ?

Over the last 3 years, GPIQ has the higher total return with dividends reinvested: JEPQ returned 57.7% and GPIQ returned 587.5%. Past performance does not predict future returns.

Which is riskier, JEPQ or GPIQ?

Measured by the worst peak-to-trough decline over the last five years, GPIQ has been riskier: JEPQ fell as much as 20.1% and GPIQ as much as 100.0%. Their betas are 0.83 and 1.16.

How much do JEPQ and GPIQ overlap?

At least 70% of the two portfolios overlap by weight, across 73 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both adds little diversification.

How often do JEPQ and GPIQ pay dividends?

Both pay monthly. The most recent payments were $0.5669 for JEPQ and $0.5088 for GPIQ.

How much income does $10,000 in JEPQ vs GPIQ generate?

At current TTM yields, $10,000 in JEPQ would generate roughly $98.19 per month ($1178 annually). The same amount in GPIQ would produce about $87.03 per month ($1044 annually). Actual payouts vary with distribution changes and reinvestment.

Can I hold both JEPQ and GPIQ?

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 JEPQ vs GPIQ with my full portfolio?

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