JEPQ vs QYLD
Two ways to harvest Nasdaq-100 option income — an actively managed premium-income approach versus a systematic at-the-money covered call. Here’s how JEPQ and QYLD compare for dividend investors — with a calculator for each so you can model the income yourself.
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
- Type
- Covered-call income ETF
- Issuer
- JPMorgan
- Pays
- monthly
JEPQ applies the same equity-premium-income strategy as JEPI but on a Nasdaq-100-oriented portfolio, writing options for a high monthly payout. It carries more technology exposure and typically a higher distribution than JEPI.
JEPQ dividend calculatorQYLD
Global X NASDAQ 100 Covered Call ETF
- Type
- Covered-call income ETF
- Issuer
- Global X
- Pays
- monthly
QYLD owns the Nasdaq-100 and systematically sells at-the-money call options on the whole index, distributing the premium monthly. This produces a very high yield but caps upside, so its share price has historically been flat to declining — a classic case for checking total return, not just yield.
QYLD dividend calculatorJEPQ vs QYLD dividend, side by side
Current dividend figures for JEPQ and QYLD as of Oct 13, 2026. Yields and payouts change — verify the latest numbers with your broker before investing.
JEPQ vs QYLD at a glance
| JEPQ | QYLD | |
|---|---|---|
| Fund | JPMorgan Nasdaq Equity Premium Income ETF | Global X Nasdaq 100 Covered Call ETF |
| Option approach | Actively managed; options mostly through linked notes | Rules-based; sells calls on the whole Nasdaq-100 |
| Holdings | 110 | 101 |
| Expense ratio | 0.35% | 0.60% |
| Launched | May 3, 2022 | Dec 11, 2013 |
| Trailing yield | 11.30% (Oct 13, 2026) | 11.41% (Oct 13, 2026) |
| Dividends per share, 2025 | $6.1227 | $2.0407 |
| Total return, 1 year | 19.45% | 22.94% |
| Total return, 3 years | 21.84% a year | 16.79% a year |
From J.P. Morgan’s and Global X’s own fund pages, read on October 16, 2026. Returns count reinvested payouts at net asset value, through September 30, 2026.
Same index, two ways to sell options
Both funds earn income from the Nasdaq-100 and pay it out monthly. QYLD, from Global X, follows a fixed rule: it holds the Nasdaq-100 stocks and sells call options on the whole index. That limits its upside in exchange for option income.
JEPQ, from J.P. Morgan, is actively managed. It has about 110 holdings, mostly Nasdaq stocks, and gets most of its option income through notes linked to index calls.
Income: both pay double digits
Over the 12 months to Oct 13, 2026, JEPQ’s trailing yield was about 11.30% and QYLD’s about 11.41%. J.P. Morgan put JEPQ’s 30-day SEC yield at 11.56% on September 30, 2026; Global X put QYLD’s distribution rate at 11.11% on October 15.
In dollars, $10,000 paid roughly $1,130 a year from JEPQ and $1,141 from QYLD at those trailing yields.
Payout trends
JEPQ’s yearly payout has climbed since its first full year: $5.0009 a share in 2023, $5.4433 in 2024 and $6.1227 in 2025, up 12.5% that year.
QYLD’s has moved the other way over time. It paid $2.5787 a share in 2014 and $2.0407 in 2025. In 2025 alone it fell 10.4%, after rising 11.5% in 2024. Monthly checks from both funds change with option prices.
Returns: JEPQ ahead over three years
Counting payouts, JEPQ returned 21.84% a year over the three years to September 30, 2026, against 16.79% for QYLD. Over the last year QYLD led, 22.94% against 19.45%.
Both trailed the Nasdaq-100 itself, which J.P. Morgan shows at 28.31% a year over three years. In calendar years, JEPQ made 36.28% in 2023, 24.82% in 2024 and 15.19% in 2025, while the index made 55.13%, 25.88% and 21.02%. QYLD has a longer record: 10.03% a year over ten years.
Fees and size
JEPQ costs 0.35% a year and held $44.07 billion. QYLD costs 0.60% and held $8.56 billion. On $10,000, that is $35 against $60 a year.
Every fund fact, yield and return here is taken from the issuers’ own pages at J.P. Morgan and Global X. Dividends per share come from each fund’s researched guide, checked against three public payment records. Last checked Oct 16, 2026. Sources: J.P. Morgan — JEPQ fund page; Global X — QYLD fund page; stockanalysis.com — JEPQ dividend history; stockanalysis.com — QYLD dividend history. Past returns do not predict future ones. Not financial advice.
Related dividend guides
How JEPQ and QYLD differ
JEPQ — JEPQ applies the same equity-premium-income strategy as JEPI but on a Nasdaq-100-oriented portfolio, writing options for a high monthly payout. It carries more technology exposure and typically a higher distribution than JEPI.
QYLD — QYLD owns the Nasdaq-100 and systematically sells at-the-money call options on the whole index, distributing the premium monthly. This produces a very high yield but caps upside, so its share price has historically been flat to declining — a classic case for checking total return, not just yield.
In practice the choice comes down to your goal. JEPQ suits an investor who wants maximum current monthly income and accepts capped price growth, while QYLD 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 JEPQ calculator and the QYLD calculator. To compare long-term compounding head to head, run the same contributions through the dividend reinvestment calculator with each fund’s assumptions.
JEPQ vs QYLD FAQ
- Where does JEPQ’s big monthly payout come from?
- Most of it is option premium, earned by selling calls on the Nasdaq-100 through linked notes, on top of the small dividends its stocks pay.
- Is QYLD a yield trap?
- This page does not give advice. QYLD has paid a high yield, but its payout per share was lower in 2025 than in 2014, and selling calls on the whole index limits how much its price can grow.
- Which is better, JEPQ or QYLD?
- They differ in method and cost. JEPQ is cheaper and returned more over three years; QYLD has a longer record and led over the latest year. Neither pays a fixed amount.
- What JEPQ or QYLD balance pays about $1,000 a month?
- At trailing yields from Oct 13, 2026, about $106,195 in JEPQ or $105,171 in QYLD, before taxes. Both pay monthly.
- What's the main difference between JEPQ and QYLD?
- JEPQ is a covered-call income etf from JPMorgan; QYLD is a covered-call income etf from Global X. Two ways to harvest Nasdaq-100 option income — an actively managed premium-income approach versus a systematic at-the-money covered call.
- Does JEPQ or QYLD pay more dividends?
- As of Oct 13, 2026, JEPQ yields about 11.30% and QYLD about 11.41%, so QYLD currently pays the higher yield. JEPQ pays monthly (varies); QYLD 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, JEPQ or QYLD?
- Neither is universally better — they suit different goals. JEPQ fits an investor who wants maximum current monthly income and accepts capped price growth; QYLD 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 JEPQ and QYLD?
- 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.