JEPI vs SCHD
High monthly options income versus a growing quarterly dividend — the classic income-now-vs-income-growth decision. Here’s how JEPI and SCHD 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 calculatorSCHD
Schwab U.S. Dividend Equity ETF
- Type
- Dividend-growth ETF
- Issuer
- Charles Schwab
- Pays
- quarterly
SCHD tracks the Dow Jones U.S. Dividend 100 Index, which screens for companies with a long record of paying dividends plus quality and financial-strength filters. It is one of the most widely held dividend-growth ETFs, favoured for its low expense ratio and steadily rising payout.
SCHD dividend calculatorJEPI vs SCHD dividend, side by side
Current dividend figures for JEPI and SCHD as of Oct 13, 2026. Yields and payouts change — verify the latest numbers with your broker before investing.
JEPI vs SCHD at a glance
| JEPI | SCHD | |
|---|---|---|
| Fund | JPMorgan Equity Premium Income ETF | Schwab U.S. Dividend Equity ETF |
| Where the income comes from | Stock dividends plus option premium | Stock dividends only |
| Holdings | 135 (Oct 15, 2026) | 98 stocks (Oct 15, 2026) |
| Expense ratio | 0.35% | 0.06% |
| Trailing yield | 8.01% (Oct 13, 2026) | 3.17% (Oct 13, 2026) |
| 30-day SEC yield | 7.45% (Sep 30, 2026) | 3.26% (Oct 14, 2026) |
| Pays | Monthly, amount varies | Quarterly |
| Dividends per share, 2025 | $4.7198 | $1.0476 |
| Total return, 1 year | 6.62% | 23.36% |
| Total return, 3 years | 10.05% a year | 15.44% a year |
| Total return, 5 years | 7.78% a year | 9.48% a year |
From J.P. Morgan’s and Schwab’s own pages, read on October 16, 2026. Returns count reinvested payouts at net asset value and run to September 30, 2026.
JEPI vs SCHD returns by year
| Year | JEPI | SCHD |
|---|---|---|
| 2025 | +8.07% | +4.45% |
| 2024 | +12.56% | +11.60% |
| 2023 | +9.88% | +4.58% |
| 2022 | -3.54% | -3.23% |
| 2021 | +21.61% | +29.78% |
Calendar-year total return at net asset value: JEPI from J.P. Morgan (its first full year was 2021), SCHD from Schwab’s fact sheet. The higher return each year is marked.
Two different kinds of income
SCHD’s income is plain stock dividends. It owns about 100 U.S. companies picked for high yield and strong finances, and passes on what they pay, four times a year.
JEPI adds a second source. It holds a list of large U.S. stocks and also sells call options on the S&P 500, mostly through notes linked to those options. The premium from selling the options is paid out each month with the dividends. That lifts the yield, but it also caps how much JEPI gains when the market rises fast.
JEPI vs SCHD dividend yield
JEPI pays much more today. Over the 12 months to Oct 13, 2026, it yielded about 8.01%, against about 3.17% for SCHD. The SEC yields point the same way: 7.45% for JEPI and 3.26% for SCHD.
On $100,000 that is roughly $8,010 a year from JEPI and $3,170 from SCHD, at those yields.
Steady growth vs bigger, bumpier checks
SCHD’s payout per share has risen every year from 2015 to 2025, about 10.6% a year over that decade. JEPI’s has moved up and down with option prices: $6.3622 a share in 2022, then $4.6183 in 2023, $4.2166 in 2024 and $4.7198 in 2025.
So JEPI hands over more cash now, while SCHD’s smaller check has tended to grow. Which matters more depends on whether you need the money today or over the next decades.
JEPI vs SCHD performance
Across the five calendar years from 2021 to 2025, SCHD returned more in 2021 and 2022 and JEPI in the other 3. The gap peaked at 8.17 percentage points in 2021 (29.78% against 21.61%), a strong year for stocks. JEPI’s best edge was 2023 (9.88% against 4.58%).
Compounded, $10,000 at the start of 2021 grew to about $15,700 in JEPI and $15,300 in SCHD by the end of 2025, before taxes. Since then SCHD has pulled ahead: in the year to September 30, 2026 it returned 23.36% against JEPI’s 6.62%, and it also leads over three and five years.
What is the downside to JEPI?
Three trade-offs show up in the numbers. Its fee is 0.35% a year, against 0.06% for SCHD, so $35 versus $6 on every $10,000. Its monthly payout changes each time and has not grown steadily. And because it sells away part of the upside, it has lagged in strong markets; over the year to September 30, 2026 the S&P 500 returned 15.74% while JEPI returned 6.62%.
Returns, yields, holdings and fees come from J.P. Morgan’s and Schwab’s own pages. Dividend totals come from each fund’s researched guide, where every payment is matched across at least two public records. Last checked Oct 16, 2026. Sources: J.P. Morgan — JEPI fund page; Schwab Asset Management — SCHD fund page; SEC — Schwab U.S. Dividend Equity ETF summary prospectus (Feb 27, 2026); stockanalysis.com — JEPI dividend history. Past returns do not predict future ones. Not financial advice.
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How JEPI and SCHD 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.
SCHD — SCHD tracks the Dow Jones U.S. Dividend 100 Index, which screens for companies with a long record of paying dividends plus quality and financial-strength filters. It is one of the most widely held dividend-growth ETFs, favoured for its low expense ratio and steadily rising payout.
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 SCHD suits one who wants a rising dividend over time rather than the highest starting yield. 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 SCHD 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 SCHD FAQ
- How many shares of JEPI to make $1,000 a month?
- At JEPI’s trailing payout of $4.56 a share over 12 months, about 2,632 shares, roughly $149,813. The same income from SCHD at its 3.17% yield would take about $378,549. JEPI’s monthly amount changes, so the real figure moves.
- Is JEPI or SCHD better for retirees?
- This page does not give advice. JEPI pays more cash now and pays monthly. SCHD pays less now, quarterly, but its payout has grown every year since 2015, and it costs less.
- Can you own both JEPI and SCHD?
- Many investors do, using JEPI for higher current income and SCHD for dividend growth. The two make their income in different ways.
- What's the main difference between JEPI and SCHD?
- JEPI is a covered-call income etf from JPMorgan; SCHD is a dividend-growth etf from Charles Schwab. High monthly options income versus a growing quarterly dividend — the classic income-now-vs-income-growth decision.
- Does JEPI or SCHD pay more dividends?
- As of Oct 13, 2026, JEPI yields about 8.01% and SCHD about 3.17%, so JEPI currently pays the higher yield. JEPI pays monthly (varies); SCHD pays quarterly. 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 SCHD?
- Neither is universally better — they suit different goals. JEPI fits an investor who wants maximum current monthly income and accepts capped price growth; SCHD fits one who wants a rising dividend over time rather than the highest starting yield. Match the fund to your objective, time horizon, and tax situation, and consider a licensed advisor.
- Can I hold both JEPI and SCHD?
- 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.