Dividend comparison
JEPQ vs VOO: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Nasdaq Equity Premium Income ETF and Vanguard S&P 500 ETF, side by side. Updated October 21, 2026.
- Fees. VOO is cheaper at 0.03% a year versus 0.35% for JEPQ. On $10,000 that is $32 a year less in fees.
- Income. JEPQ pays more income, yielding 11.58% over the last twelve months versus 1.05% for VOO. That is about $1,053 more a year on $10,000. JEPQ pays monthly, VOO pays quarterly.
- Performance. Over the last 3 years, VOO returned 89.2% versus 61.0% for JEPQ, with dividends reinvested. $10,000 would have grown to $18,923 in VOO and $16,100 in JEPQ.
- Risk. VOO 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. VOO holds 505 positions and JEPQ holds 110. The ten largest positions make up 43.1% of JEPQ and 39.1% of VOO.
- Overlap. At least 48% of the two portfolios overlap by weight, across 48 shared holdings.
- Dividend growth. JEPQ grew its yearly payout 7.6% a year over the last 2 years, versus 6.8% for VOO.
- Size. VOO is the larger fund with $1.7 trillion in assets, against $43.8 billion for JEPQ.
Bottom line: JEPQ fits better if you care most about more income today and smaller drawdowns. VOO fits better if you care most about lower fees, stronger 3-year returns and broader diversification.
| Metric | JEPQ JPMorgan Nasdaq Equity Premium Income ETF | VOO Vanguard S&P 500 ETF |
|---|---|---|
| Dividend yield (TTM) | 11.58% | 1.05% |
| Dividend / share (TTM) | $6.88 | $7.43 |
| Payout frequency | Monthly | Quarterly |
| Last dividend | $0.5669 on Oct 5, 2026 | $1.8226 on Sep 30, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 28, 2026 |
| Dividend growth (CAGR) | 7.6% over 2 yrs | 6.8% over 4 yrs |
| Price | $59.44 | $706.80 |
| Dividend growth streak | 2 years | 5 years |
| Beta | 0.83 | 1.01 |
| Max drawdown (5Y) | -20.1% | -24.5% |
| Market cap | $43.19B | $1.70T |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.03% |
| Assets under management | $43.83B | $1.70T |
| Number of holdings | 110 | 505 |
| Top 10 concentration | 43.1% | 39.1% |
JEPQ
$96.52/mo
$1158 /yr at 11.58% yield
VOO
$8.76/mo
$105 /yr at 1.05% yield
| Year | JEPQ | VOO |
|---|---|---|
| 2025 | $6.0025 | $7.0678 |
| 2024 | $5.3800 | $6.7035 |
| 2023 | $5.1840 | $6.3572 |
| 2022 | — | $5.9467 |
| 2021 | — | $5.4367 |
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 VOO 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 replicates the index in full and makes no attempt to pick winners, so its return is the index return less a very small fee. As an open-end fund it can lend securities and put incoming dividends back to work inside the portfolio between the quarterly payment dates. Dividends are whatever the underlying companies happen to pay, which means yield is an output of the strategy and never a target of it.
Suits almost any long-horizon US equity allocation, including as the growth engine sitting behind higher-yielding income positions. Not a fit for someone whose portfolio needs to produce meaningful current cash flow.
Core holding
| Period | JEPQ | VOO |
|---|---|---|
| 1 month | -1.33% | 0.97% |
| 3 months | 1.59% | 3.87% |
| Year to date | 2.27% | 13.68% |
| 1 year | 4.26% | 15.84% |
| 3 years | 61.00% | 89.23% |
| 5 years | — | 81.78% |
- JEPQ
- VOO
Both series indexed to 100 on 2022-05-04 using the adjusted closing price series. Past performance does not guarantee future results.
- JEPQ
- VOO
| Largest shared holdings | JEPQ weight | VOO weight |
|---|---|---|
| NVDANVIDIA CORP COMMON STOCK | 7.17% | 8.39% |
| AAPLAPPLE INC COMMON STOCK | 6.73% | 7.38% |
| MSFTMICROSOFT CORP COMMON | 5.54% | 5.78% |
| AMZNAMAZON.COM INC COMMON | 4.02% | 3.71% |
| GOOGALPHABET INC-CL C - | 4.83% | 2.45% |
| METAMETA PLATFORMS INC | 2.96% | 2.43% |
| AVGOBROADCOM INC COMMON | 1.90% | 2.54% |
| MUMICRON TECHNOLOGY INC | 4.29% | 1.83% |
| TSLATESLA INC COMMON STOCK | 2.13% | 1.52% |
| AMDADVANCED MICRO DEVICES | 3.55% | 1.52% |
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. VOO fits better if you care most about lower fees, stronger 3-year returns and broader diversification. 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.