Dividend comparison
JEPQ vs QQQM: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and Invesco NASDAQ 100 ETF, side by side. Updated October 21, 2026.
- Fees. QQQM is cheaper at 0.15% a year versus 0.35% for JEPQ. On $10,000 that is $20 a year less in fees.
- Income. JEPQ pays more income, yielding 11.58% over the last twelve months versus 0.45% for QQQM. That is about $1,114 more a year on $10,000. JEPQ pays monthly, QQQM pays quarterly.
- Performance. Over the last 3 years, QQQM returned 105.3% versus 61.0% for JEPQ, with dividends reinvested. $10,000 would have grown to $20,529 in QQQM and $16,100 in JEPQ.
- Risk. QQQM has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -35.0%, against -20.1% for JEPQ.
- Diversification. JEPQ holds 110 positions and QQQM holds 103. The ten largest positions make up 43.1% of JEPQ and 47.2% of QQQM.
- Overlap. At least 73% of the two portfolios overlap by weight, across 76 shared holdings. Owning both adds little diversification.
- Dividend growth. QQQM grew its yearly payout 17.8% a year over the last 2 years, versus 7.6% for JEPQ.
- Size. QQQM is the larger fund with $108.6 billion in assets, against $43.8 billion for JEPQ.
Bottom line: JEPQ fits better if you care most about more income today and smaller drawdowns. QQQM fits better if you care most about lower fees, stronger 3-year returns and faster dividend growth. With 73% overlap, most investors would hold one or the other rather than both.
| Metric | JEPQ JPMorgan Nasdaq Equity Premium Income ETF | QQQM Invesco NASDAQ 100 ETF |
|---|---|---|
| Dividend yield (TTM) | 11.58% | 0.45% |
| Dividend / share (TTM) | $6.88 | $1.32 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.5669 on Oct 5, 2026 | $0.3127 on Sep 25, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 21, 2026 |
| Dividend growth (CAGR) | 7.6% over 2 yrs | 17.8% over 4 yrs |
| Price | $59.44 | $295.59 |
| Dividend growth streak | 2 years | — |
| Beta | 0.83 | 1.23 |
| Max drawdown (5Y) | -20.1% | -35.0% |
| Market cap | $43.19B | $78.87B |
| Exchange | NASDAQ | NASDAQ |
| Expense ratio | 0.35% | 0.15% |
| Assets under management | $43.83B | $108.58B |
| Number of holdings | 110 | 103 |
| Top 10 concentration | 43.1% | 47.2% |
JEPQ
$96.52/mo
$1158 /yr at 11.58% yield
QQQM
$3.71/mo
$45 /yr at 0.45% yield
| Year | JEPQ | QQQM |
|---|---|---|
| 2025 | $6.0025 | $1.2592 |
| 2024 | $5.3800 | $1.2755 |
| 2023 | $5.1840 | $1.0965 |
| 2022 | — | $0.9145 |
| 2021 | — | $0.6549 |
Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.
What JEPQ vs QQQM 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
Launched in 2020 as an open-end fund, it holds identical constituents at identical weights to its older sibling and charges a lower expense ratio. The gap in fee is small in any one year but compounds across a long holding period, which is the entire reason the fund exists. What it gives up is trading depth: spreads are wider and the options market on it is thin next to QQQ's.
Suits a long-term holder accumulating Nasdaq-100 exposure inside a retirement or taxable account. Not the right choice for active traders or anyone writing options against the position.
Growth-tilted core, concentrated
| Period | JEPQ | QQQM |
|---|---|---|
| 1 month | -1.33% | -0.34% |
| 3 months | 1.59% | 3.24% |
| Year to date | 2.27% | 16.87% |
| 1 year | 4.26% | 17.41% |
| 3 years | 61.00% | 105.29% |
| 5 years | — | 96.99% |
- JEPQ
- QQQM
Both series indexed to 100 on 2022-05-04 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPQ
- QQQM
| Largest shared holdings | JEPQ weight | QQQM weight |
|---|---|---|
| NVDANVIDIA CORP COMMON STOCK | 7.17% | 8.17% |
| AAPLAPPLE INC COMMON STOCK | 6.73% | 7.82% |
| MSFTMICROSOFT CORP COMMON | 5.54% | 6.19% |
| MUMICRON TECHNOLOGY INC | 4.29% | 4.41% |
| AMZNAMAZON.COM INC COMMON | 4.02% | 4.42% |
| AMDADVANCED MICRO DEVICES | 3.55% | 3.79% |
| METAMETA PLATFORMS INC | 2.96% | 3.28% |
| GOOGALPHABET INC-CL C - | 4.83% | 2.94% |
| TSLATESLA INC COMMON STOCK | 2.13% | 3.02% |
| AVGOBROADCOM INC COMMON | 1.90% | 2.49% |
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 more income today and smaller drawdowns. QQQM fits better if you care most about lower fees, stronger 3-year returns and faster dividend growth. With 73% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.