Dividend comparison
JEPQ vs SCHD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and Schwab U.S. Dividend Equity ETF, side by side. Updated October 21, 2026.
- Fees. SCHD is cheaper at 0.06% a year versus 0.35% for JEPQ. On $10,000 that is $29 a year less in fees.
- Income. JEPQ pays more income, yielding 11.58% over the last twelve months versus 3.04% for SCHD. That is about $854 more a year on $10,000. JEPQ pays monthly, SCHD pays quarterly.
- Performance. Over the last 3 years, SCHD returned 66.2% versus 61.0% for JEPQ, with dividends reinvested. $10,000 would have grown to $16,622 in SCHD and $16,100 in JEPQ.
- Risk. JEPQ has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -20.1%, against -16.8% for SCHD.
- Diversification. JEPQ holds 110 positions and SCHD holds 102. The ten largest positions make up 43.1% of JEPQ and 41.7% of SCHD.
- Overlap. At least 3% of the two portfolios overlap by weight, across 9 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 2 years, versus 7.6% for JEPQ.
- Size. SCHD is the larger fund with $114.7 billion in assets, against $43.8 billion for JEPQ.
Bottom line: JEPQ fits better if you care most about more income today. SCHD fits better if you care most about lower fees, stronger 3-year returns, smaller drawdowns and faster dividend growth.
| Metric | JEPQ JPMorgan Nasdaq Equity Premium Income ETF | SCHD Schwab U.S. Dividend Equity ETF |
|---|---|---|
| Dividend yield (TTM) | 11.58% | 3.04% |
| Dividend / share (TTM) | $6.88 | $1.05 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.5669 on Oct 5, 2026 | $0.2665 on Sep 28, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 7.6% over 2 yrs | 8.7% over 4 yrs |
| Price | $59.44 | $34.69 |
| Dividend growth streak | 2 years | 13 years |
| Beta | 0.83 | 0.58 |
| Max drawdown (5Y) | -20.1% | -16.8% |
| Market cap | $43.19B | $98.31B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.06% |
| Assets under management | $43.83B | $114.71B |
| Number of holdings | 110 | 102 |
| Top 10 concentration | 43.1% | 41.7% |
JEPQ
$96.52/mo
$1158 /yr at 11.58% yield
SCHD
$25.32/mo
$304 /yr at 3.04% yield
| Year | JEPQ | SCHD |
|---|---|---|
| 2025 | $6.0025 | $1.0476 |
| 2024 | $5.3800 | $0.9944 |
| 2023 | $5.1840 | $0.8862 |
| 2022 | — | $0.8540 |
| 2021 | — | $0.7499 |
Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.
What JEPQ vs SCHD 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 tracks the Dow Jones U.S. Dividend 100 Index, which first requires at least ten consecutive years of dividends, then ranks the survivors on a composite of cash flow to total debt, return on equity, dividend yield and five-year dividend growth. The top 100 are held at market-cap weights with a 4% cap per stock and 25% per sector, reconstituted annually and rebalanced quarterly. Those quality screens push the portfolio toward mature value sectors and largely out of high-growth technology, which is the single biggest reason its return diverges from the S&P 500 in either direction.
Suits an investor who wants a growing dividend stream plus share-price participation and can sit out technology-led rallies without changing course. Not a match for someone who needs the highest available current yield or wants full market exposure.
Core dividend holding
| Period | JEPQ | SCHD |
|---|---|---|
| 1 month | -1.33% | 3.83% |
| 3 months | 1.59% | 6.77% |
| Year to date | 2.27% | 29.59% |
| 1 year | 4.26% | 33.01% |
| 3 years | 61.00% | 66.22% |
| 5 years | — | 57.90% |
- JEPQ
- SCHD
Both series indexed to 100 on 2022-05-04 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPQ
- SCHD
| Largest shared holdings | JEPQ weight | SCHD weight |
|---|---|---|
| TXNTEXAS INSTRUMENTS INC | 0.79% | 4.40% |
| PEPPEPSICO INC COMMON STOCK | 0.66% | 3.86% |
| QCOMQUALCOMM INC COMMON | 0.54% | 4.15% |
| AMGNAMGEN INC COMMON STOCK | 0.41% | 3.90% |
| CMCSACOMCAST CORP COMMON | 0.35% | 1.91% |
| KOTHE COCA-COLA COMPANY | 0.21% | 4.30% |
| BMYBRISTOL-MYERS SQUIBB CO | 0.20% | 2.96% |
| UNHUNITEDHEALTH GROUP INC | 0.15% | 4.14% |
| UPSUNITED PARCEL SERVICE | 0.06% | 1.80% |
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. SCHD fits better if you care most about lower fees, stronger 3-year returns, smaller drawdowns and faster dividend growth. 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.