JEPI vs JEPQ vs QYLD

JEPI is the S&P-like active overlay. JEPQ is the Nasdaq active overlay. QYLD is the systematic Nasdaq buy-write. Yield rank is the worst way to pick.

Covered Call StrategyIntermediate9 min readUpdated 2026-09-08

What it is

All three sell calls (or similar overlay) to raise distributions. The equity book is the first fork: S&P-like vs Nasdaq-100.

The second fork is how hard they overwrite. Systematic buy-writes often print higher trailing yields and give up more upside.

Hypothetical: same $10,000, different leftover upside

Labeled hypothetical — not a live yield, AUM, or tax bracket.

  1. Assume each fund distributes cash. Do not use a made-up live yield here — open the Nasdaq and S&P income lists for current trailing yields from our quote API.
  2. If Nasdaq rips 30% and a systematic overwrite keeps 8% total return, the “high yield” fund lost the year that mattered.
  3. If Nasdaq is flat, the more aggressive overwrite can win the cash race. That is a regime bet, not a personality trait of the ticker.

Live trailing yields

From our quote API, hourly cache. As of 2026-09-28. Not a forecast.

JEPI

JPMorgan Equity Premium Income ETF

8.07% TTM yield

On $10,000: about $807/year ($67/mo) if this snapshot held.

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

11.04% TTM yield

On $10,000: about $1,104/year ($92/mo) if this snapshot held.

QYLD

Global X - Nasdaq 100 Covered Call ETF

12.41% TTM yield

On $10,000: about $1,241/year ($103/mo) if this snapshot held.

QQQI

NEOS Nasdaq-100 High Income ETF

14.85% TTM yield

On $10,000: about $1,485/year ($124/mo) if this snapshot held.

Who this is for

  • Readers comparing the three names chatbots always cite.

Who this is not for

  • Treating QQQI or 0DTE tickers as a fourth “winner” without a new lesson.

What people get wrong

  • Picking the highest current yield as the best fund.
  • Holding JEPI and JEPQ and QYLD without running overlap.

How to check it on Dividend Wealth

Nasdaq income list for JEPQ/QQQI/QYLD. S&P income list for JEPI/SPYI/XYLD. Compare tool for a live pair.

Nasdaq-100 income ETFsS&P 500 income ETFsCompare dividend returns

Related lessons

FAQ

What is the difference between JEPI and JEPQ?

JEPI overlays a more S&P-like book. JEPQ overlays Nasdaq-100 exposure. Same manager family, different equity risk.

Is QYLD higher yield than JEPQ a win?

Usually it means a more aggressive overwrite and more capped upside. Compare total return in the compare tool.

Where do QQQI and SPYI fit?

NEOS-style high-income overlays on Nasdaq-100 and S&P 500. They sit on the Nasdaq and S&P income lists next to these three.

Educational only — not investment, tax, or legal advice. Dividend Wealth does not recommend 2x daily, inverse, or single-stock YieldMax products as “best income.” Yields change. Confirm filings and your own tax situation.