Dividend comparison
JEPQ vs QYLD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and Global X - Nasdaq 100 Covered Call ETF, side by side. Updated October 24, 2026.
- Fees. JEPQ is cheaper at 0.35% a year versus 0.60% for QYLD. On $10,000 that is $25 a year less in fees.
- Income. QYLD pays more income, yielding 12.79% over the last twelve months versus 11.78% for JEPQ. That is about $101 more a year on $10,000. Both pay monthly.
- Performance. Over the last 3 years, JEPQ returned 58.2% versus 41.1% for QYLD, with dividends reinvested. $10,000 would have grown to $15,823 in JEPQ and $14,106 in QYLD.
- Risk. QYLD has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -24.5%, against -20.1% for JEPQ.
- Diversification. JEPQ holds 109 positions and QYLD holds 102. The ten largest positions make up 43.0% of JEPQ and 48.9% of QYLD.
- Overlap. At least 74% of the two portfolios overlap by weight, across 73 shared holdings. Owning both adds little diversification.
- Dividend growth. JEPQ grew its yearly payout 7.6% a year over the last 2 years, versus -2.0% for QYLD.
- Size. JEPQ is the larger fund with $43.1 billion in assets, against $8.4 billion for QYLD.
Bottom line: JEPQ fits better if you care most about lower fees, stronger 3-year returns, smaller drawdowns and faster dividend growth. QYLD fits better if you care most about more income today. With 74% overlap, most investors would hold one or the other rather than both.
| Metric | JEPQ JPMorgan Nasdaq Equity Premium Income ETF | QYLD Global X - Nasdaq 100 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 11.78% | 12.79% |
| Dividend / share (TTM) | $6.88 | $2.31 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.5669 on Oct 5, 2026 | $0.1830 on Oct 22, 2026 |
| Ex-dividend date | Oct 1, 2026 | Oct 19, 2026 |
| Dividend growth (CAGR) | 7.6% over 2 yrs | -2.0% over 4 yrs |
| Price | $58.43 | $18.09 |
| Dividend growth streak | 2 years | — |
| Beta | 0.83 | 0.48 |
| Max drawdown (5Y) | -20.1% | -24.5% |
| Market cap | $43.19B | $8.38B |
| Exchange | NASDAQ | NASDAQ |
| Expense ratio | 0.35% | 0.60% |
| Assets under management | $43.15B | $8.36B |
| Number of holdings | 109 | 102 |
| Top 10 concentration | 43.0% | 48.9% |
JEPQ
$98.19/mo
$1178 /yr at 11.78% yield
QYLD
$106.59/mo
$1279 /yr at 12.79% yield
| Year | JEPQ | QYLD |
|---|---|---|
| 2025 | $6.0025 | $2.3793 |
| 2024 | $5.3800 | $2.1045 |
| 2023 | $5.1840 | $2.0380 |
| 2022 | — | $2.5261 |
| 2021 | — | $2.5810 |
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 QYLD 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
It follows the Cboe Nasdaq-100 BuyWrite V2 Index: hold the constituents, then write a one-month index call struck at roughly the current level. Writing at the money collects the maximum premium but leaves almost no room to participate when the index rises, so in an up year the fund keeps the premium and forfeits the move. Global X's stated guideline caps the monthly distribution at the lower of half the premiums received or 1% of net asset value, with the excess reinvested.
Suits an investor whose priority is the largest, steadiest monthly payment available from Nasdaq exposure and who does not need the principal to grow. It is a poor long-horizon holding: surrendering nearly all upside on a high-growth index while paying out the premium has historically left the share price grinding lower over full cycles.
Maximum current income, capped upside
| Period | JEPQ | QYLD |
|---|---|---|
| 1 month | -4.50% | -2.59% |
| 3 months | -1.75% | 1.52% |
| Year to date | 0.52% | 2.26% |
| 1 year | 2.94% | 6.04% |
| 3 years | 58.23% | 41.06% |
| 5 years | — | 32.87% |
- JEPQ
- QYLD
Both series indexed to 100 on 2022-05-04 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPQ
- QYLD
| Largest shared holdings | JEPQ weight | QYLD weight |
|---|---|---|
| NVDANVIDIA CORP COMMON STOCK | 7.27% | 8.55% |
| AAPLAPPLE INC COMMON STOCK | 6.69% | 7.80% |
| MSFTMICROSOFT CORP COMMON | 5.49% | 6.30% |
| MUMICRON TECHNOLOGY INC | 4.30% | 4.83% |
| AMZNAMAZON.COM INC COMMON | 3.98% | 4.39% |
| AMDADVANCED MICRO DEVICES | 3.62% | 4.20% |
| GOOGALPHABET INC-CL C - | 4.66% | 3.02% |
| METAMETA PLATFORMS INC | 2.90% | 3.46% |
| TSLATESLA INC COMMON STOCK | 2.22% | 3.11% |
| AVGOBROADCOM INC COMMON | 1.90% | 2.65% |
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% |
Quick verdict
JEPQ fits better if you care most about lower fees, stronger 3-year returns, smaller drawdowns and faster dividend growth. QYLD fits better if you care most about more income today. With 74% 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.