What is the expense ratio of JEPI vs JEPQ?

JEPI has an expense ratio of 0.35%, while JEPQ has an expense ratio of 0.35%.

JEPI vs JEPQ

JPMorgan Equity Premium Income ETF vs JPMorgan Nasdaq Equity Premium Income ETF

Last updated: 2026-04-02

JPMorgan Equity Premium Income ETF (JEPI) is an exchange-traded fund that provides exposure to us covered call securities. It charges an above-average expense ratio of 0.35%. The fund offers a high dividend yield of 8.44%. Launched in 2020, the fund has a 6-year track record.

AUM: $43.1B ER: 0.35% Yield: 8.44% Since: May 20, 2020

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an exchange-traded fund that provides exposure to us covered call securities. It charges an above-average expense ratio of 0.35%. The fund offers a high dividend yield of 11.10%. Launched in 2022, the fund has a 4-year track record.

AUM: $34.3B ER: 0.35% Yield: 11.10% Since: May 3, 2022

Quick Verdict

Over the past year, JEPQ has significantly outperformed with a 7.6% return vs -0.6%. Income investors may prefer JEPQ for its higher yield (11.1% vs 8.4%).

Key Metrics

Metric	JEPI	JEPQ
Expense Ratio	0.35%	0.35%
Dividend Yield	8.4%	11.1%
Fund Family	N/A	N/A
Category	US Covered Call	US Covered Call

Performance Chart

Indexed to 100 at start (5-year comparison)

JEPI -3.1%

JEPQ +8.7%

Performance Comparison

Period	JEPI	JEPQ	Difference
1 Month	-5.00%	-3.58%	-1.42%
3 Months	-1.59%	-4.42%	+2.83%
6 Months	-1.09%	-3.07%	+1.98%
YTD	-1.59%	-4.42%	+2.83%
1 Year	-0.63%	+7.58%	-8.21%
3 Years	+3.96%	+24.65%	-20.69%
5 Years	-3.14%	+8.66%	-11.80%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	JEPI Fees	JEPQ Fees	You Save
$10.000	10 years	$690	$690	$0
$10.000	20 years	$2.930	$2.930	$0
$10.000	30 years	$9.337	$9.337	$0
$50.000	10 years	$3.448	$3.448	$0
$50.000	30 years	$46.685	$46.685	$0
$100.000	30 years	$93.370	$93.370	$0

Risk Metrics

Based on 5 years of daily returns

Metric	JEPI	JEPQ
Annualized Volatility	11.3%	17.2%
Max Drawdown	-20.0%	-21.6%
Sharpe Ratio	-0.40	-0.05

Dividend Comparison

Metric	JEPI	JEPQ
Annual Dividend (per share)	$4.76	$6.17
Dividend Yield	8.44%	11.11%
Distribution Frequency	Monthly	Monthly

Top Holdings

1 of top 10 holdings overlap (10% overlap in top holdings)

JEPI Top Holdings

Name	Weight
Johnson & JohnsonJNJ	1.76%
Ross Stores, Inc.ROST	1.72%
EOG Resources, Inc.EOG	1.70%
NextEra Energy, Inc.NEE	1.65%
Howmet Aerospace Inc.HWM	1.60%
AbbVie Inc.ABBV	1.57%
RTX CorporationRTX	1.52%
Walmart Inc.WMT	1.44%
PepsiCo, Inc.PEP	1.44%
Eaton Corporation plcETN	1.44%

JEPQ Top Holdings

Name	Weight
NVIDIA CorporationNVDA	7.41%
Apple Inc.AAPL	6.44%
Alphabet Inc.GOOG	5.14%
Microsoft CorporationMSFT	4.86%
Amazon.com, Inc.AMZN	4.05%
Meta Platforms, Inc.META	3.05%
Tesla, Inc.TSLA	2.62%
Walmart Inc.WMT	2.49%
Broadcom Inc.AVGO	2.25%
Netflix, Inc.NFLX	2.09%

Which One Should You Choose?

Choose JEPQ if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose JEPQ if...

you prioritize dividend income and want higher regular distributions from your portfolio.

Either works if...

you just need broad us covered call exposure. Both are solid options — pick whichever your brokerage offers commission-free.

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