Dividend comparison

JEPQ vs QQQI: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and NEOS Nasdaq-100 High Income ETF, side by side. Updated October 24, 2026.

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JEPQ vs QQQI: key differences

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

Fees. JEPQ is cheaper at 0.35% a year versus 0.68% for QQQI. On $10,000 that is $33 a year less in fees.
Income. QQQI pays more income, yielding 15.74% over the last twelve months versus 11.78% for JEPQ. That is about $395 more a year on $10,000. Both pay monthly.
Performance. Over the last 1 year, JEPQ returned 2.9% versus -1.6% for QQQI, with dividends reinvested. $10,000 would have grown to $10,294 in JEPQ and $9,841 in QQQI.
Risk. Their worst declines over the last 1 year were similar: -20.1% for JEPQ and -20.0% for QQQI from peak to trough.
Diversification. JEPQ holds 109 positions and QQQI holds 10. The ten largest positions make up 43.0% of JEPQ and 46.9% of QQQI.
Overlap. At least 73% of the two portfolios overlap by weight, across 73 shared holdings. Owning both adds little diversification.
Size. JEPQ is the larger fund with $43.1 billion in assets, against $15.2 billion for QQQI.

Bottom line: JEPQ fits better if you care most about lower fees, stronger 1-year returns and broader diversification. QQQI fits better if you care most about more income today. With 73% 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	QQQI NEOS Nasdaq-100 High Income ETF
Dividend yield (TTM)	11.78%	15.74%
Dividend / share (TTM)	$6.88	$8.28
Payout frequency	Monthly	Monthly
Last dividend	$0.5669 on Oct 5, 2026	$0.6340 on Oct 23, 2026
Ex-dividend date	Oct 1, 2026	Oct 21, 2026
Dividend growth (CAGR)	7.6% over 2 yrs	—
Price	$58.43	$52.59
Dividend growth streak	2 years	—
Beta	0.83	0.93
Max drawdown (5Y)	-20.1%	-20.0%
Market cap	$43.19B	$14.89B
Exchange	NASDAQ	NASDAQ
Expense ratio	0.35%	0.68%
Assets under management	$43.15B	$15.22B
Number of holdings	109	10
Top 10 concentration	43.0%	46.9%

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

QQQI

$131.13/mo

$1574 /yr at 15.74% yield

Dividend history

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

Year	JEPQ	QQQI
2025	$6.0025	$7.4435
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 QQQI 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

QQQI

The Nasdaq-100 counterpart to NEOS's S&P 500 income fund, holding the index and writing NDX index options for monthly distributions.

It owns Nasdaq-100 constituents and applies the same call strategy of sold and purchased index options, sized actively rather than as a fixed full overwrite. Nasdaq-100 volatility is structurally higher, so the option premium collected is larger and the monthly distribution is bigger than the S&P 500 version. NDX options are also section 1256 contracts, so the same 60/40 tax treatment and loss-harvesting mechanics apply.

Suits someone who wants technology-heavy exposure converted into monthly cash with attention paid to tax character. A poor fit if you are holding the Nasdaq-100 specifically to compound growth, because the call overlay gives away the tail of exactly the rallies that index is bought for.

Aggressive tax-aware income

Performance

Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jan 30, 2024 would now be worth $13,749 in JEPQ and $13,717 in QQQI.

Period	JEPQ	QQQI
1 month	-4.50%	-5.80%
3 months	-1.75%	-3.22%
Year to date	0.52%	-2.36%
1 year	2.94%	-1.59%
3 years	58.23%	—
5 years	—	—

JEPQ
QQQI

Both series indexed to 100 on 2024-01-30 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
QQQI

JEPQ vs QQQI holdings overlap

At least 73% 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	QQQI weight
NVDANVIDIA CORP COMMON STOCK	7.27%	8.28%
AAPLAPPLE INC COMMON STOCK	6.69%	7.79%
MSFTMICROSOFT CORP COMMON	5.49%	6.03%
MUMICRON TECHNOLOGY INC	4.30%	4.42%
AMZNAMAZON.COM INC COMMON	3.98%	4.40%
AMDADVANCED MICRO DEVICES	3.62%	3.88%
METAMETA PLATFORMS INC	2.90%	3.22%
GOOGALPHABET INC-CL C -	4.66%	2.81%
TSLATESLA INC COMMON STOCK	2.22%	3.01%
AVGOBROADCOM INC COMMON	1.90%	2.50%

Top 10 holdings

Largest positions by portfolio weight.

JEPQ109 holdings total

Name	Weight
NVDANVIDIA CORP COMMON STOCK	7.27%
AAPLAPPLE INC COMMON STOCK	6.69%
MSFTMICROSOFT CORP COMMON	5.49%
GOOGALPHABET INC-CL C -	4.66%
MUMICRON TECHNOLOGY INC	4.30%
AMZNAMAZON.COM INC COMMON	3.98%
AMDADVANCED MICRO DEVICES	3.62%
METAMETA PLATFORMS INC	2.90%
TSLATESLA INC COMMON STOCK	2.22%
AVGOBROADCOM INC COMMON	1.90%

QQQI10 holdings total

Name	Weight
NVDANVIDIA Corp	8.28%
AAPLApple Inc	7.79%
MSFTMicrosoft Corp	6.03%
MUMicron Technology Inc	4.42%
AMZNAmazon.com Inc	4.40%
AMDAdvanced Micro Devices Inc	3.88%
METAMeta Platforms Inc	3.22%
GOOGLAlphabet Inc	3.03%
TSLATesla Inc	3.01%
GOOGAlphabet Inc	2.81%

Quick verdict

JEPQ fits better if you care most about lower fees, stronger 1-year returns and broader diversification. QQQI fits better if you care most about more income today. With 73% 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 QQQI better for dividend income?

It depends on your goals. JEPQ currently yields 11.78% Trailing Twelve Months (TTM) while QQQI yields 15.74%. 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 QQQI?

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an ETF listed on NASDAQ. NEOS Nasdaq-100 High Income ETF (QQQI) 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 QQQI?

JEPQ has the lower expense ratio. JEPQ charges 0.35% a year and QQQI charges 0.68%, a difference of $33 a year on a $10,000 investment.

Which has performed better, JEPQ or QQQI?

Over the last 1 year, JEPQ has the higher total return with dividends reinvested: JEPQ returned 2.9% and QQQI returned -1.6%. Past performance does not predict future returns.

Which is riskier, JEPQ or QQQI?

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 QQQI as much as 20.0%. Their betas are 0.83 and 0.93.

How much do JEPQ and QQQI overlap?

At least 73% 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 QQQI pay dividends?

Both pay monthly. The most recent payments were $0.5669 for JEPQ and $0.6340 for QQQI.

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

At current TTM yields, $10,000 in JEPQ would generate roughly $98.19 per month ($1178 annually). The same amount in QQQI would produce about $131.13 per month ($1574 annually). Actual payouts vary with distribution changes and reinvestment.

Can I hold both JEPQ and QQQI?

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 QQQI with my full portfolio?

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