Dividend comparison

JEPQ vs RYLD: 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 - Russell 2000 Covered Call ETF, side by side. Updated October 21, 2026.

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JEPQ vs RYLD: key differences
The short answer, from the latest data on this page.
  • Fees. JEPQ is cheaper at 0.35% a year versus 0.60% for RYLD. On $10,000 that is $25 a year less in fees.
  • Income. RYLD pays more income, yielding 12.32% over the last twelve months versus 11.58% for JEPQ. That is about $74 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 3 years, JEPQ returned 61.0% versus 21.3% for RYLD, with dividends reinvested. $10,000 would have grown to $16,100 in JEPQ and $12,133 in RYLD.
  • Risk. Their worst declines over the last 3 years were similar: -20.1% for JEPQ and -21.5% for RYLD from peak to trough.
  • Diversification. JEPQ holds 110 positions and RYLD holds 8. The ten largest positions make up 43.1% of JEPQ and 100.0% of RYLD.
  • Dividend growth. JEPQ grew its yearly payout 7.6% a year over the last 2 years, versus -9.1% for RYLD.
  • Size. JEPQ is the larger fund with $43.8 billion in assets, against $1.3 billion for RYLD.

Bottom line: JEPQ fits better if you care most about lower fees, stronger 3-year returns, faster dividend growth and broader diversification. RYLD 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
RYLD
Global X - Russell 2000 Covered Call ETF
Dividend yield (TTM)11.58%12.32%
Dividend / share (TTM)$6.88$1.87
Payout frequencyMonthlyMonthly
Last dividend$0.5669 on Oct 5, 2026$0.1475 on Sep 24, 2026
Ex-dividend dateOct 1, 2026Oct 19, 2026
Next payment—$0.1480 on Oct 22, 2026
Dividend growth (CAGR)7.6% over 2 yrs-9.1% over 4 yrs
Price$59.44$15.19
Dividend growth streak2 years—
Beta0.830.54
Max drawdown (5Y)-20.1%-21.5%
Market cap$43.19B$1.29B
ExchangeNASDAQAMEX
Expense ratio0.35%0.60%
Assets under management$43.83B$1.29B
Number of holdings1108
Top 10 concentration43.1%100.0%
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

RYLD

$102.65/mo

$1232 /yr at 12.32% yield

Dividend history
Total dividends paid per share in each calendar year. JEPQ pays monthly; RYLD pays monthly.
YearJEPQRYLD
2025$6.0025$2.0022
2024$5.3800$1.9660
2023$5.1840$2.1365
2022—$2.6570
2021—$2.9360
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 RYLD 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 May 4, 2022 would now be worth $17,289 in JEPQ and $10,127 in RYLD.
PeriodJEPQRYLD
1 month-1.33%-2.57%
3 months1.59%-6.00%
Year to date2.27%-0.72%
1 year4.26%-0.20%
3 years61.00%21.33%
5 years—-1.11%
  • JEPQ
  • RYLD
7613118620222023202420252026173101

Both series indexed to 100 on 2022-05-04 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
  • RYLD
0%15%30%46%61%Technology61.0%13.9%Healthcare4.2%20.1%Consumer Cyclical10.5%9.0%Financial Services0.4%18.4%Industrials3.9%13.2%Communication Services12.6%2.3%Consumer Defensive5.2%2.8%Energy0.3%6.7%Real Estate0.2%6.5%Basic Materials0.8%4.3%Other0.9%2.9%
JEPQ vs RYLD 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%

RYLD8 holdings total

NameWeight
RSSLGLOBAL X RUSSELL 2000 ETF100.03%
RAINRAIN ONCOLOGY INC0.00%

Quick verdict

JEPQ fits better if you care most about lower fees, stronger 3-year returns, faster dividend growth and broader diversification. RYLD 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 RYLD better for dividend income?
It depends on your goals. JEPQ currently yields 11.58% Trailing Twelve Months (TTM) while RYLD yields 12.32%. 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 RYLD?
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an ETF listed on NASDAQ. Global X - Russell 2000 Covered Call ETF (RYLD) 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 RYLD?
JEPQ has the lower expense ratio. JEPQ charges 0.35% a year and RYLD charges 0.60%, a difference of $25 a year on a $10,000 investment.
Which has performed better, JEPQ or RYLD?
Over the last 3 years, JEPQ has the higher total return with dividends reinvested: JEPQ returned 61.0% and RYLD returned 21.3%. Past performance does not predict future returns.
Which is riskier, JEPQ or RYLD?
Measured by the worst peak-to-trough decline over the last five years, RYLD has been riskier: JEPQ fell as much as 20.1% and RYLD as much as 21.5%. Their betas are 0.83 and 0.54.
How often do JEPQ and RYLD pay dividends?
Both pay monthly. The most recent payments were $0.5669 for JEPQ and $0.1475 for RYLD.
How much income does $10,000 in JEPQ vs RYLD generate?
At current TTM yields, $10,000 in JEPQ would generate roughly $96.52 per month ($1158 annually). The same amount in RYLD would produce about $102.65 per month ($1232 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both JEPQ and RYLD?
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 RYLD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how JEPQ and RYLD 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.