Dividend comparison

JEPQ vs QDTE: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and Roundhill Nasdaq-100 0DTE Covered Call ETF Strategy ETF, side by side. Updated October 21, 2026.

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JEPQ vs QDTE: key differences
The short answer, from the latest data on this page.
  • Fees. JEPQ is cheaper at 0.35% a year versus 0.96% for QDTE. On $10,000 that is $61 a year less in fees.
  • Income. QDTE pays more income, yielding 44.45% over the last twelve months versus 11.58% for JEPQ. That is about $3,287 more a year on $10,000. JEPQ pays monthly, QDTE pays weekly.
  • Performance. Over the last 1 year, JEPQ returned 4.3% versus -18.7% for QDTE, with dividends reinvested. $10,000 would have grown to $10,426 in JEPQ and $8,130 in QDTE.
  • Risk. QDTE has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -24.3%, against -20.1% for JEPQ.
  • Diversification. JEPQ holds 110 positions and QDTE holds 6. The ten largest positions make up 43.1% of JEPQ and 191.0% of QDTE.
  • Size. JEPQ is the larger fund with $43.8 billion in assets, against $913 million for QDTE.

Bottom line: JEPQ fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification. QDTE 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.
MetricJEPQ
JPMorgan Nasdaq Equity Premium Income ETF
QDTE
Roundhill Nasdaq-100 0DTE Covered Call ETF Strategy ETF
Dividend yield (TTM)11.58%44.45%
Dividend / share (TTM)$6.88$12.50
Payout frequencyMonthlyWeekly
Last dividend$0.5669 on Oct 5, 2026$0.1292 on Oct 16, 2026
Ex-dividend dateOct 1, 2026Oct 15, 2026
Dividend growth (CAGR)7.6% over 2 yrs—
Price$59.44$28.13
Dividend growth streak2 years—
Beta0.831.25
Max drawdown (5Y)-20.1%-24.3%
Market cap$43.19B$902.1M
ExchangeNASDAQCBOE
Expense ratio0.35%0.96%
Assets under management$43.83B$912.7M
Number of holdings1106
Top 10 concentration43.1%191.0%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

JEPQ

$96.52/mo

$1158 /yr at 11.58% yield

QDTE

$370.39/mo

$4445 /yr at 44.45% yield

Dividend history
Total dividends paid per share in each calendar year. JEPQ pays monthly; QDTE pays weekly.
YearJEPQQDTE
2025$6.0025$13.5402
2024$5.3800—
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 QDTE 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

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Mar 7, 2024 would now be worth $13,399 in JEPQ and $10,899 in QDTE.
PeriodJEPQQDTE
1 month-1.33%-2.33%
3 months1.59%-3.43%
Year to date2.27%-8.79%
1 year4.26%-18.70%
3 years61.00%—
5 years——
  • JEPQ
  • QDTE
91117142202420252026134109

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.
  • JEPQ
  • QDTE
0%24%47%71%95%Cash & Others0.0%94.7%Technology61.0%Communication Services12.6%Consumer Cyclical10.5%Financial Services0.4%5.3%Consumer Defensive5.2%Healthcare4.2%Industrials3.9%Utilities0.9%Basic Materials0.8%Other0.5%
JEPQ vs QDTE 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.

JEPQ110 holdings total

NameWeight
NVDANVIDIA CORP COMMON STOCK7.17%
AAPLAPPLE INC COMMON STOCK6.73%
MSFTMICROSOFT CORP COMMON5.54%
GOOGALPHABET INC-CL C -4.83%
MUMICRON TECHNOLOGY INC4.29%
AMZNAMAZON.COM INC COMMON4.02%
AMDADVANCED MICRO DEVICES3.55%
METAMETA PLATFORMS INC2.96%
TSLATESLA INC COMMON STOCK2.13%
AVGOBROADCOM INC COMMON1.90%

QDTE6 holdings total

NameWeight
4QQQ 271119C00070110QQQ 11/19/2027 70.11 C73.39%
4NDX 270319C02510150NDX 03/19/2027 2510.15 C25.86%
4NDX 261218C024501004NDX US 12/18/26 C2450.1 FLX25.04%
4NDX 270611C03059420NDX 06/11/2027 3059.42 C22.05%
4NDX 260918C022500004NDX US 09/18/26 C2250 FLX18.15%
4QQQ 270917C00070690QQQ 09/17/2027 70.69 C17.65%
WEEKRoundhill Weekly T-Bill ETF5.25%
FGXXXFirst American Government Obligations Fund 12/01/20313.59%

Quick verdict

JEPQ fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification. QDTE 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 JEPQ or QDTE better for dividend income?
It depends on your goals. JEPQ currently yields 11.58% Trailing Twelve Months (TTM) while QDTE yields 44.45%. 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 QDTE?
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an ETF listed on NASDAQ. Roundhill Nasdaq-100 0DTE Covered Call ETF Strategy ETF (QDTE) 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, JEPQ or QDTE?
JEPQ has the lower expense ratio. JEPQ charges 0.35% a year and QDTE charges 0.96%, a difference of $61 a year on a $10,000 investment.
Which has performed better, JEPQ or QDTE?
Over the last 1 year, JEPQ has the higher total return with dividends reinvested: JEPQ returned 4.3% and QDTE returned -18.7%. Past performance does not predict future returns.
Which is riskier, JEPQ or QDTE?
Measured by the worst peak-to-trough decline over the last five years, QDTE has been riskier: JEPQ fell as much as 20.1% and QDTE as much as 24.3%. Their betas are 0.83 and 1.25.
How often do JEPQ and QDTE pay dividends?
JEPQ pays monthly and QDTE pays weekly.
How much income does $10,000 in JEPQ vs QDTE generate?
At current TTM yields, $10,000 in JEPQ would generate roughly $96.52 per month ($1158 annually). The same amount in QDTE would produce about $370.39 per month ($4445 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both JEPQ and QDTE?
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 QDTE with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how JEPQ and QDTE 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.