Dividend comparison

JEPQ vs QDVO: 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 Growth & Income ETF, side by side. Updated October 21, 2026.

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JEPQ vs QDVO: key differences
The short answer, from the latest data on this page.
  • Fees. JEPQ is cheaper at 0.35% a year versus 0.56% for QDVO. 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 10.69% for QDVO. That is about $89 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 1 year, JEPQ returned 4.3% versus 2.1% for QDVO, with dividends reinvested. $10,000 would have grown to $10,426 in JEPQ and $10,208 in QDVO.
  • Risk. JEPQ has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -20.1%, against -17.7% for QDVO.
  • Diversification. JEPQ holds 110 positions and QDVO holds 45. The ten largest positions make up 43.1% of JEPQ and 58.0% of QDVO.
  • Overlap. At least 51% of the two portfolios overlap by weight, across 26 shared holdings.
  • Size. JEPQ is the larger fund with $43.8 billion in assets, against $763 million for QDVO.

Bottom line: JEPQ has the edge on these figures, with lower fees, more income today, stronger 1-year returns and broader diversification. QDVO does not lead on any of the measures compared here.

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
QDVO
Amplify CWP Growth & Income ETF
Dividend yield (TTM)11.58%10.69%
Dividend / share (TTM)$6.88$3.15
Payout frequencyMonthlyMonthly
Last dividend$0.5669 on Oct 5, 2026$0.2787 on Sep 30, 2026
Ex-dividend dateOct 1, 2026Sep 29, 2026
Dividend growth (CAGR)7.6% over 2 yrs—
Price$59.44$29.46
Dividend growth streak2 years—
Beta0.831.02
Max drawdown (5Y)-20.1%-17.7%
Market cap$43.19B$767.2M
ExchangeNASDAQAMEX
Expense ratio0.35%0.56%
Assets under management$43.83B$763.0M
Number of holdings11045
Top 10 concentration43.1%58.0%
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

QDVO

$89.08/mo

$1069 /yr at 10.69% yield

Dividend history
Total dividends paid per share in each calendar year. JEPQ pays monthly; QDVO pays monthly.
YearJEPQQDVO
2025$6.0025$2.8784
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 QDVO 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 Aug 22, 2024 would now be worth $12,871 in JEPQ and $13,520 in QDVO.
PeriodJEPQQDVO
1 month-1.33%-1.41%
3 months1.59%-0.07%
Year to date2.27%1.52%
1 year4.26%2.08%
3 years61.00%—
5 years——
  • JEPQ
  • QDVO
90117145202420252026129135

Both series indexed to 100 on 2024-08-22 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
  • QDVO
0%15%30%46%61%Technology61.0%49.2%Communication Services12.6%13.5%Consumer Cyclical10.5%10.3%Healthcare4.2%8.0%Consumer Defensive5.2%7.0%Financial Services0.4%7.9%Industrials3.9%3.4%Basic Materials0.8%1.4%Utilities0.9%0.5%Energy0.3%0.3%Other0.2%
JEPQ vs QDVO holdings overlap
At least 51% overlap by weight, with 26 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 holdingsJEPQ weightQDVO weight
NVDANVIDIA CORP COMMON STOCK7.17%10.25%
AAPLAPPLE INC COMMON STOCK6.73%9.59%
MSFTMICROSOFT CORP COMMON5.54%6.61%
AMZNAMAZON.COM INC COMMON4.02%5.24%
MUMICRON TECHNOLOGY INC4.29%3.71%
AMDADVANCED MICRO DEVICES3.55%3.29%
METAMETA PLATFORMS INC2.96%3.95%
TSLATESLA INC COMMON STOCK2.13%3.05%
AVGOBROADCOM INC COMMON1.90%3.26%
WMTWALMART INC COMMON STOCK1.86%1.46%
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%

QDVO45 holdings total

NameWeight
NVDANVIDIA Corp10.25%
AAPLApple Inc9.59%
GOOGLAlphabet Inc8.39%
MSFTMicrosoft Corp6.61%
AMZNAmazon.com Inc5.24%
METAMeta Platforms Inc3.95%
LLYEli Lilly & Co3.73%
MUMicron Technology Inc3.71%
AMDAdvanced Micro Devices Inc3.29%
AVGOBroadcom Inc3.26%

Quick verdict

JEPQ has the edge on these figures, with lower fees, more income today, stronger 1-year returns and broader diversification. QDVO does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is JEPQ or QDVO better for dividend income?
It depends on your goals. JEPQ currently yields 11.58% Trailing Twelve Months (TTM) while QDVO yields 10.69%. 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 QDVO?
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an ETF listed on NASDAQ. Amplify CWP Growth & Income ETF (QDVO) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, JEPQ or QDVO?
JEPQ has the lower expense ratio. JEPQ charges 0.35% a year and QDVO charges 0.56%, a difference of $21 a year on a $10,000 investment.
Which has performed better, JEPQ or QDVO?
Over the last 1 year, JEPQ has the higher total return with dividends reinvested: JEPQ returned 4.3% and QDVO returned 2.1%. Past performance does not predict future returns.
Which is riskier, JEPQ or QDVO?
Measured by the worst peak-to-trough decline over the last five years, JEPQ has been riskier: JEPQ fell as much as 20.1% and QDVO as much as 17.7%. Their betas are 0.83 and 1.02.
How much do JEPQ and QDVO overlap?
At least 51% of the two portfolios overlap by weight, across 26 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do JEPQ and QDVO pay dividends?
Both pay monthly. The most recent payments were $0.5669 for JEPQ and $0.2787 for QDVO.
How much income does $10,000 in JEPQ vs QDVO generate?
At current TTM yields, $10,000 in JEPQ would generate roughly $96.52 per month ($1158 annually). The same amount in QDVO would produce about $89.08 per month ($1069 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both JEPQ and QDVO?
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 QDVO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how JEPQ and QDVO 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.