JEPI vs DIVO
Two equity-income-via-options funds with different intensities — broad ELN income versus selective covered calls plus dividends. Here’s how JEPI and DIVO compare for dividend investors — with a calculator for each so you can model the income yourself.
JEPI
JPMorgan Equity Premium Income ETF
- Type
- Covered-call income ETF
- Issuer
- JPMorgan
- Pays
- monthly
JEPI holds a defensive basket of U.S. stocks and sells equity-linked notes to generate options premium, paying a high monthly distribution. Its yield is well above the broad market, but much of the return comes from income rather than price appreciation.
JEPI dividend calculatorDIVO
Amplify CWP Enhanced Dividend Income ETF
- Type
- Covered-call income ETF
- Issuer
- Amplify
- Pays
- monthly
DIVO is an actively managed fund that holds high-quality dividend payers and writes covered calls tactically on individual positions, paying monthly. It aims for a blend of dividend income, option income, and some growth.
DIVO dividend calculatorJEPI vs DIVO dividend, side by side
Current dividend figures for JEPI and DIVO as of Oct 13, 2026. Yields and payouts change — verify the latest numbers with your broker before investing.
JEPI vs DIVO at a glance
| JEPI | DIVO | |
|---|---|---|
| Fund | JPMorgan Equity Premium Income ETF | Amplify CWP Enhanced Dividend Income ETF |
| How it earns option income | Sells S&P 500 calls, mostly through linked notes | Sells calls now and then on its own stocks |
| Holdings | 135 | 33 |
| Expense ratio | 0.35% | 0.56% |
| Trailing yield | 8.01% (Oct 13, 2026) | 6.34% (Oct 13, 2026) |
| 30-day SEC yield | 7.45% | 1.40% |
| Pays | Monthly | Monthly |
| Total return, 1 year | 6.62% | 11.43% |
| Total return, 3 years | 10.05% a year | 16.38% a year |
| Total return, 5 years | 7.78% a year | 11.55% a year |
From J.P. Morgan’s and Amplify’s own fund pages, read on October 16, 2026. Returns count reinvested payouts at net asset value, through September 30, 2026.
JEPI vs DIVO payout change by year
| Year | JEPI | DIVO |
|---|---|---|
| 2025 | +11.93% | +50.74% |
| 2024 | -8.70% | +11.28% |
| 2023 | -27.41% | +0.08% |
| 2022 | +52.89% | -6.56% |
Change in dividends paid per share from the year before, grouped by ex-dividend date, from each fund’s verified payment history. DIVO’s 2025 includes one large December payment. The higher figure each year is marked.
Two ways to turn options into income
Both funds pay monthly and both sell call options, but they do it very differently. JEPI, from J.P. Morgan, owns about 135 large U.S. stocks and sells options on the whole S&P 500, mostly through notes linked to those options. The option premium is a big, steady part of every check.
DIVO, from Amplify, is a smaller list of 20 to 25 dividend-growing companies, 33 holdings in all. Its manager sells calls only from time to time, on single stocks it already owns. So much more of DIVO’s return depends on the stocks themselves.
Income: JEPI pays far more today
Over the 12 months to Oct 13, 2026, JEPI’s trailing yield was about 8.01% and DIVO’s about 6.34%. The 30-day SEC yield, which counts only income after costs, was 7.45% for JEPI against 1.40% for DIVO.
In dollars, $10,000 in JEPI paid about $801 over that year and $10,000 in DIVO about $634. DIVO’s figure is lifted by a one-time $0.953397 payment in December 2025; Amplify’s distribution rate, based on the latest regular check, was 4.88%.
How steady are the payouts?
Neither fund pays a fixed amount. Comparing each year’s total with the year before, DIVO’s payout grew faster in 2023, 2024 and 2025, and JEPI won the other 1. JEPI’s strongest year against DIVO was 2022 (52.89% against -6.56%), a gap of 59.45 percentage points.
DIVO’s best year by this measure was 2025 (50.74% against 11.93%), thanks largely to that December special. Across 2021 to 2025, DIVO’s yearly payout grew about 11.9% a year and JEPI’s about 3.2%.
Total returns: DIVO has kept more of the upside
Counting payouts, DIVO returned 11.43% over the year to September 30, 2026, 16.38% a year over three years and 11.55% over five. JEPI made 6.62%, 10.05% and 7.78% over the same periods.
Both trailed the S&P 500, which returned 13.79% a year over five years by Amplify’s figures. That gap is the usual price of option income: selling calls caps part of each rally.
Fees and size
JEPI charges 0.35% a year, $35 on $10,000. DIVO charges 0.56%, or $56. JEPI is spread over about four times as many holdings. DIVO’s short list makes each stock matter more.
Fees, holdings, yields and returns come from J.P. Morgan’s and Amplify’s own pages. Yearly dividends come from each fund’s researched guide, checked against at least two public payment records and the issuers’ own distribution tables. Last checked Oct 16, 2026. Sources: Amplify ETFs — DIVO fund page; J.P. Morgan — JEPI fund page; stockanalysis.com — JEPI dividend history; stockanalysis.com — DIVO dividend history. Past returns do not predict future ones. Not financial advice.
Related dividend guides
How JEPI and DIVO differ
JEPI — JEPI holds a defensive basket of U.S. stocks and sells equity-linked notes to generate options premium, paying a high monthly distribution. Its yield is well above the broad market, but much of the return comes from income rather than price appreciation.
DIVO — DIVO is an actively managed fund that holds high-quality dividend payers and writes covered calls tactically on individual positions, paying monthly. It aims for a blend of dividend income, option income, and some growth.
In practice the choice comes down to your goal. JEPI suits an investor who wants maximum current monthly income and accepts capped price growth, while DIVO suits one who wants maximum current monthly income and accepts capped price growth. The two are not mutually exclusive — plenty of portfolios hold a growth-oriented fund and an income-oriented one together. What matters is matching each to its job and not judging a fund on its headline yield alone.
Rather than compare a single snapshot yield (which moves daily), open each calculator and enter current figures: the JEPI calculator and the DIVO calculator. To compare long-term compounding head to head, run the same contributions through the dividend reinvestment calculator with each fund’s assumptions.
JEPI vs DIVO FAQ
- Which is better, JEPI or DIVO?
- This page does not give advice. JEPI pays much more income each month; DIVO has paid less but returned more over one, three and five years to September 30, 2026, at a higher fee.
- Is DIVO a safe ETF?
- No stock fund is safe from losses. DIVO holds about 33 large dividend payers and sells some calls on them; Amplify notes its payouts may include return of capital.
- Why is JEPI considered high risk?
- JEPI is a stock fund, so it can fall with the market, and its option income limits how much it can gain in rallies. Its monthly payout also changes with option prices, as the large swings from 2022 to 2024 show.
- What size of JEPI or DIVO holding pays $1,000 a month?
- At trailing yields from Oct 13, 2026, about $149,813 in JEPI or $189,274 in DIVO. Both amounts move as the monthly payouts change.
- What's the main difference between JEPI and DIVO?
- JEPI is a covered-call income etf from JPMorgan; DIVO is a covered-call income etf from Amplify. Two equity-income-via-options funds with different intensities — broad ELN income versus selective covered calls plus dividends.
- Does JEPI or DIVO pay more dividends?
- As of Oct 13, 2026, JEPI yields about 8.01% and DIVO about 6.34%, so JEPI currently pays the higher yield. JEPI pays monthly (varies); DIVO pays monthly (varies). Yields move daily, so verify current figures and use the calculators below to model the income yourself. Covered-call income funds carry a much higher headline yield but little price growth, while dividend-growth and broad-market funds start lower and aim to grow the payout.
- Which is better, JEPI or DIVO?
- Neither is universally better — they suit different goals. JEPI fits an investor who wants maximum current monthly income and accepts capped price growth; DIVO fits one who wants maximum current monthly income and accepts capped price growth. Match the fund to your objective, time horizon, and tax situation, and consider a licensed advisor.
- Can I hold both JEPI and DIVO?
- Many investors do, to blend current income with growth. Just be aware of overlap — if both hold similar large-cap US stocks, you may be less diversified than the two tickers suggest.