Dividend comparison

JEPY vs SPYI: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JEPY and Neos S&P 500(R) High Income ETF, side by side. Updated October 21, 2026.

Start freeOpen interactive compareSee pricing
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricJEPY
JEPY
SPYI
Neos S&P 500(R) High Income ETF
Dividend yield (TTM)—11.81%
Dividend / share (TTM)—$6.34
Payout frequencyQuarterlyMonthly
Last dividend$0.1981 on Nov 6, 2025$0.5338 on Sep 18, 2026
Ex-dividend date—Sep 16, 2026
Dividend growth (CAGR)—3.1% over 2 yrs
Price—$53.70
Dividend growth streak—2 years
Beta—0.70
Max drawdown (5Y)—-16.5%
Market cap—$10.50B
Exchange—CBOE
Expense ratio—0.68%
Assets under management—$12.56B
Number of holdings—10
Top 10 concentration—38.5%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

JEPY

—/mo

Yield data unavailable

SPYI

$98.39/mo

$1181 /yr at 11.81% yield

Dividend history
Total dividends paid per share in each calendar year. JEPY pays quarterly; SPYI pays monthly.
YearJEPYSPYI
2025$9.8983$6.1458
2024$21.5709$6.1182
2023—$5.7873
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 JEPY vs SPYI actually do

SPYI
A NEOS ETF that holds the S&P 500 and runs a call-writing program on SPX index options for monthly income.

It owns the index constituents, then layers on a data-driven call strategy that can include both sold and purchased SPX options, so the manager can dial how much upside is given away instead of overwriting the whole book every month. SPX options are section 1256 contracts, which are marked to market and taxed 60% long-term and 40% short-term regardless of holding period, and NEOS also harvests losses inside the options sleeve. Together those choices change the tax character of what lands in your account, which is the main thing separating this from an ordinary buy-write fund.

Suits a taxable-account holder who wants S&P 500 exposure with a much larger monthly payout and cares about how that income is taxed. Not for someone who wants uncapped participation in a strong bull market or the lowest possible expense ratio.

Tax-aware equity income

Performance
Total returns with dividends reinvested, from the adjusted closing price series.
PeriodJEPYSPYI
1 month—1.15%
3 months—1.19%
Year to date—2.23%
1 year—3.99%
3 years—49.83%
5 years——
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.
  • JEPY
  • SPYI
0%10%20%29%39%Technology39.1%Financial Services11.5%Communication Services9.7%Healthcare9.6%Consumer Cyclical9.2%Industrials7.4%Consumer Defensive4.7%Energy3.7%Utilities1.9%Real Estate1.7%Other1.5%
Top 10 holdings
Largest positions by portfolio weight.

SPYI10 holdings total

NameWeight
NVDANVIDIA Corp7.94%
AAPLApple Inc7.49%
MSFTMicrosoft Corp5.97%
AMZNAmazon.com Inc3.90%
GOOGLAlphabet Inc3.00%
GOOGAlphabet Inc2.41%
AVGOBroadcom Inc2.40%
METAMeta Platforms Inc2.29%
TSLATesla Inc1.59%
LLYEli Lilly & Co1.55%

Quick verdict

Compare the metrics above, then add both tickers to a Dividend Wealth portfolio to see combined income forecasts and diversification impact.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how JEPY vs SPYI fits with the rest of your holdings. Free to start — no credit card required for the trial.
Start freeInteractive DRIP compare

Frequently asked questions

Is JEPY or SPYI better for dividend income?
Compare yield, payout sustainability, and how each fund or stock fits your income goals. Use Dividend Wealth to model both holdings inside a real portfolio forecast.
What is the difference between JEPY and SPYI?
JEPY (JEPY) is a stock. Neos S&P 500(R) High Income ETF (SPYI) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
How often do JEPY and SPYI pay dividends?
JEPY pays quarterly and SPYI pays monthly.
Can I hold both JEPY and SPYI?
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 JEPY vs SPYI with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how JEPY and SPYI 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.

Related comparisons

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.