FTQI vs JEPQ: Grades, Fees and Holdings Compared

First Trust Nasdaq BuyWrite Income ETF

FTQIANasdaq

JPMorgan Nasdaq Equity Premium Income ETF

JEPQANasdaq

Overlap

43.1%by weight

Expense ratio

JEPQ −0.40pt a year

FTQI0.75%JEPQ0.35%

Avg volume · 30D

JEPQ 16.0×the volume

FTQI412KJEPQ6.6M

3Y return · a year

JEPQ +1.2pt

FTQI+16.4%JEPQ+17.6%

FTQI vs JEPQ Performance

Nov 7, 2025 – Nov 9, 2026

+15.3%FTQI+9.4%JEPQ

Expense ratio: FTQI 0.75%; JEPQ 0.35%, better
Fund size: FTQI $954M; JEPQ $40.7B
1Y total return: FTQI +15.3%, better; JEPQ +9.4%
Yield (12M): FTQI 11.83%; JEPQ 12.39%, better
Holdings: FTQI 175; JEPQ 111
Avg volume (30D): FTQI 412K sh; JEPQ 6.6M sh, better
NAV per share: FTQI $20.58; JEPQ $54.36
52W range

ETF.net Grade

Pillar letters and Scores for FTQI, JEPQ, with each pillar’s weight
Pillar	FTQI	JEPQ
Cost30% weight	C42	A82Higher
Mission25% weight	A100Higher	A99
Risk15% weight	A74Higher	B60
Tradability15% weight	A71	A77Higher
Holdings10% weight	A84Higher	C50
Durability5% weight	A89	A91Higher

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. FTQI and JEPQ are both graded against the same 30 Nasdaq-100 Option Income funds, so their Grades compare head to head.

Nasdaq-100 Option Income⁠

Category · 30 funds

See all 30 ›

JEPQ ranks 4th and FTQI 7th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 2AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 80
Rank 2AQYLDGlobal X Nasdaq 100 Covered Call ETFScore 80
Rank 4AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 79
Rank 5AQYLGGlobal X Nasdaq 100 Covered Call & Growth ETFScore 76
Rank 7ABALQiShares Nasdaq Premium Income Active ETFScore 72
Rank 7AFTQIFirst Trust Nasdaq BuyWrite Income ETFScore 72
Rank 9AEDGQGlobal X Nasdaq-100 Income Edge ETFScore 71

Our read on each fund

ETF.net Research

FTQIAFirst Trust Nasdaq BuyWrite Income ETF

JEPQAJPMorgan Nasdaq Equity Premium Income ETF

In short

FTQI Most Nasdaq-100 income funds sell calls on everything, all the time. FTQI works a dial: a hand-picked stock basket with index calls written on 50% to 100% of assets, so managers choose how much upside gets sold. Running since 2014, pays monthly.

JEPQ Most Nasdaq income funds bolt call options onto the index and call it a day. JEPQ picks its own roughly 110 US large-cap stocks, then writes out-of-the-money Nasdaq-100 calls on top, aiming for monthly income with less volatility than the index itself.

Stated mandate

FTQI The fund seeks current income by investing primarily in U.S.-listed equities and writing exchange-traded covered calls on the Nasdaq-100 Index to obtain option-premium cash flow.

JEPQ The fund seeks current income while preserving potential for capital appreciation. It combines a data-science-driven portfolio of U.S. large-cap stocks with written out-of-the-money Nasdaq-100 Index call options and seeks lower volatility than the Nasdaq-100 Index.

Why people hold it

FTQI The overlay is adjustable by design. The prospectus sets call notional at 50% to 100% of assets, so coverage can flex rather than run wide open every cycle.sec.gov
Managers may also buy a higher-strike Nasdaq-100 call against the ones they sell, a spread built to keep some index upside above the short strike.sec.gov
The equity sleeve is actively chosen (roughly 230 US-listed stocks) instead of a straight index clone, with the option premium paid out monthly.ftportfolios.com
Trading since 2014, it predates most of the Nasdaq-100 premium-income wave and stands in the upper tier of a now-crowded peer group.

JEPQ Charges 0.35% a year, roughly half the typical fee among Nasdaq options-income funds and well under QYLD's 0.60%.
Income is manufactured by writing out-of-the-money Nasdaq-100 calls and paid out monthly, rather than harvested from high-dividend stocks.jpmorgan.com
One of the largest and most heavily traded funds in the Nasdaq options-income group, which generally means tight spreads and easy entry and exit.
The calls are struck out of the money, so the mandate keeps room for capital appreciation in the stock sleeve alongside the payout.jpmorgan.com

Worth knowing

FTQI At 0.75%, it prices above the category median, and Nasdaq-100 income rivals such as QQA, GPIQ and JEPQ sit meaningfully lower.
The Nasdaq mandate dates to a 2022 rename. Before that it ran a hedged S&P 500 buywrite, so the longest stretch of its record reflects a different strategy.cbonds.com
Selling index calls trades away part of a Nasdaq rally for premium, and the monthly payout can include return of capital, which reduces your cost basis.sec.gov

JEPQ The overlay clips the top off big Nasdaq rallies: premium comes in, but stock gains above the call strikes go to the option buyer.jpmorgan.com
Monthly payouts float with option premiums, which move with market volatility. This is variable income, not a fixed coupon.
About 110 US large-cap holdings paired with a Nasdaq-100 overlay: concentrated, tech-leaning exposure rather than a broad-market portfolio.jpmorgan.com

Full FTQI profile⁠

Full JEPQ profile⁠

FTQI vs JEPQ Holdings

How FTQI and JEPQ differ

Overlap by weight

43.1%

Shared holdings make up 55.8% of FTQI and 53.6% of JEPQ.

About this figure: FTQI earns income from options, which aren’t counted.

JEPQ earns income from options, which aren’t counted.

Level by level

Holdings25 in both43.1%
Sector11 Sectors83.3%
Countryby domicile97.8%
Asset classStocks100%

Sector

Sector weights in FTQI and JEPQ, widest gap first
Sector	Gap	FTQI	JEPQ
Technology	JEPQ +10.5 points	47.8%	58.3%
Financials	FTQI +5.8 points	6.3%	0.5%
Health Care	FTQI +5.5 points	10.5%	5.0%
Consumer Staples	JEPQ +3.3 points	3.1%	6.4%
Communication	JEPQ +3.1 points	8.4%	11.5%
Energy	FTQI +2.3 points	2.7%	0.4%
Consumer Discretionary	FTQI +1.2 points	12.6%	11.4%
Real Estate	FTQI +1.0 points	1.1%	0.2%
Industrials	FTQI +0.4 points	4.8%	4.4%
Utilities	FTQI +0.3 points	1.4%	1.1%
Materials	FTQI +0.2 points	1.1%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in FTQI and JEPQ, widest gap first
Country	Gap	FTQI	JEPQ
Netherlands	JEPQ +1.1 points	0.0%	1.1%
United Kingdom	FTQI +0.7 points	0.7%	0.0%
Canada	JEPQ +0.7 points	0.0%	0.7%
Other countries (8)	FTQI +1.1 points	99.3%	98.2%

Concentration

Weight in the 10 largest Holdings

FTQI43.1%
JEPQ42.5%

Securities held

FTQI174
JEPQ110

Asset class

FTQI: Stocks
JEPQ: Stocks

Holdings

Only in FTQI149
In both25
Only in JEPQ85

Only in FTQI

149 securities, 38.7% of FTQI by weight

Alphabet Inc. (Class A)1.82%
CME Group Inc.1.16%
eBay Inc.1.01%
Medpace Holdings, Inc.0.88%
Woodward, Inc.0.80%
Expedia Group, Inc.0.80%
Illumina, Inc.0.73%
Equinix, Inc.0.72%
DocuSign, Inc.0.71%
Texas Roadhouse, Inc.0.68%
VeriSign, Inc.0.62%
Incyte Corporation0.62%
F5, Inc.0.62%
Caterpillar Inc.0.61%
Guardant Health, Inc.0.58%
J.B. Hunt Transport Services, Inc.0.57%
Casey's General Stores, Inc.0.56%
Interactive Brokers Group, Inc. (Class A)0.55%
argenx SE (ADR)0.53%
Alliant Energy Corporation0.52%
Royalty Pharma Plc (Class A)0.51%
InterDigital, Inc.0.51%
Robinhood Markets, Inc. (Class A)0.47%
Nasdaq, Inc.0.47%
Qualys, Inc.0.46%
Monolithic Power Systems, Inc.0.46%
GE Vernova Inc.0.45%
Commvault Systems, Inc.0.44%
GE Aerospace0.43%
Coca-Cola Consolidated, Inc.0.42%
BP p.l.c. (ADR)0.42%
Lincoln Electric Holdings, Inc.0.40%
Genmab A/S (ADR)0.40%
Nordson Corporation0.36%
Littelfuse, Inc.0.36%
Talen Energy Corporation0.34%
U.S. Bancorp0.34%
Evergy, Inc.0.34%
Natera, Inc.0.33%
The PNC Financial Services Group, Inc.0.32%
Dollar Tree, Inc.0.31%
SEI Investments Company0.31%
TotalEnergies SE0.30%
Cavco Industries, Inc.0.30%
Gen Digital Inc.0.29%
Arch Capital Group Ltd.0.29%
East West Bancorp, Inc.0.29%
HealthEquity, Inc.0.28%
Five Below, Inc.0.28%
Northern Trust Corporation0.25%

Only in JEPQ

85 securities, 46.3% of JEPQ by weight

Walmart Inc Common Stock2.13%
Space Exploration1.60%
NDX_191.21%
NDX_181.20%
NDX_201.18%
NDX_131.18%
NDX_151.18%
NDX_121.18%
NDX_141.17%
NDX_171.17%
NDX_161.16%
NDX_111.15%
NDX_101.12%
NDX_91.11%
Analog Devices Inc Common1.09%
NDX_81.08%
NDX_71.08%
NDX_61.07%
JPMorgan Prime Money1.00%
Crowdstrike Holdings Inc0.96%
Asml Holding NV Ny Reg0.87%
Texas Instruments Inc0.86%
Linde PLC Common Stock0.79%
Pepsico Inc Common Stock0.76%
Intuitive Surgical Inc0.75%
Vertex Pharmaceuticals0.71%
Marvell Technology Inc0.69%
Csx Corp Common Stock USD0.67%
Booking Holdings Inc0.62%
Regeneron Pharmaceuticals0.61%
Shopify Inc Common Stock0.58%
Qualcomm Inc Common Stock0.56%
T-Mobile Us Inc Common0.56%
Synopsys Inc Common Stock0.54%
Monster Beverage Corp0.53%
Mondelez International0.53%
Nxp Semiconductors NV0.52%
Intuit Inc Common Stock0.49%
O'reilly Automotive Inc0.48%
Applovin Corp Common0.43%
Comcast Corp Common Stock0.43%
Teradyne Inc Common Stock0.36%
Sandisk Corp Common Stock0.35%
Mercadolibre Inc Common0.34%
Honeywell International0.33%
Marriott International0.33%
Deere & Co Common Stock0.32%
Diamondback Energy Inc0.31%
Xcel Energy Inc Common0.31%
Eaton Corp PLC Common0.30%

Weight gaps

All 25 Holdings in both funds, largest gap first.

Holding weights in FTQI and JEPQ, widest gap first
Holding	Gap	FTQI	JEPQ
Microsoft CorporationMSFT	JEPQ +4.34 points	1.64%	5.98%
Alphabet Inc. (Class C)GOOG	JEPQ +2.54 points	1.83%	4.37%
Apple Inc.AAPL	FTQI +2.36 points	9.65%	7.29%
Micron Technology, Inc.MU	JEPQ +1.85 points	1.69%	3.54%
Cisco Systems, Inc.CSCO	FTQI +1.83 points	2.94%	1.11%
Advanced Micro Devices, Inc.AMD	FTQI +1.35 points	4.57%	3.22%
Gilead Sciences, Inc.GILD	FTQI +1.31 points	1.46%	0.15%
Palantir Technologies Inc. (Class A)PLTR	FTQI +1.29 points	2.48%	1.19%
AbbVie Inc.ABBV	FTQI +1.05 points	1.57%	0.52%
KLA CorporationKLAC	FTQI +0.96 points	1.07%	0.11%
NVIDIA CorporationNVDA	JEPQ +0.84 points	5.85%	6.69%
Amgen Inc.AMGN	FTQI +0.65 points	1.13%	0.48%
Tesla, Inc.TSLA	FTQI +0.60 points	2.85%	2.25%
Lam Research CorporationLRCX	JEPQ +0.54 points	0.89%	1.43%
Seagate Technology Holdings PlcSTX	FTQI +0.31 points	1.26%	0.95%
Broadcom Inc.AVGO	JEPQ +0.30 points	1.51%	1.81%
Costco Wholesale CorporationCOST	FTQI +0.25 points	1.65%	1.40%
Amazon.com, Inc.AMZN	FTQI +0.25 points	4.56%	4.31%
Applied Materials, Inc.AMAT	FTQI +0.23 points	0.90%	0.67%
Palo Alto Networks, Inc.PANW	FTQI +0.13 points	1.33%	1.20%
Intel CorporationINTC	JEPQ +0.12 points	0.61%	0.73%
Astera Labs, Inc.ALAB	FTQI +0.09 points	0.13%	0.04%
Meta Platforms, Inc. (Class A)META	JEPQ +0.05 points	2.73%	2.78%
The Coca-Cola CompanyKO	FTQI +0.03 points	0.26%	0.23%
Netflix, Inc.NFLX	FTQI +0.01 points	1.19%	1.18%

All 181 FTQI holdings⁠All 110 JEPQ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTQI vs JEPQ Cost

Overpaying FTQI vs JEPQ

$7,356

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FTQI 0.75%
$14,482
JEPQ 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

FTQI 0.75%
JEPQ 0.35%
Overpaying

Year by year

Year	FTQI	JEPQ	Overpaying
10	$1,336	$634	$702
20	$5,078	$2,454	$2,624
30	$14,482	$7,126	$7,356

Expense ratio

0.75%FTQI
0.35%JEPQ, cheaper

JEPQ0.35%FTQI0.75%

0.00%1.20%

Middle half of Nasdaq-100 Option Income funds
Median 0.71%

JEPQ 4th cheapest of 30 funds

FTQI 17th cheapest of 30 funds

FTQI vs JEPQ Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FTQI 11.83%; JEPQ 12.39%, better
Payout (12M): FTQI $2.52; JEPQ $6.95
Last payment: FTQI $0.22; JEPQ $0.54
Ex-dividend: FTQI Oct 21, 2026; JEPQ Nov 2, 2026
Paid on: FTQI Oct 30, 2026; JEPQ Nov 4, 2026
Frequency: FTQI Monthly; JEPQ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FTQIMonthly · 46 paymentsAll FTQI payments⁠

JEPQMonthly · 46 paymentsAll JEPQ payments⁠

FTQI vs JEPQ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FTQI 9.2%, betterJEPQ 11.8%
Return per unit of riskSharpe ratio, 3 years: FTQI 1.41, betterJEPQ 1.24
Worst fallMax drawdown, 5 years: FTQI −19.4%JEPQ −20.1%since May 2022
Market sensitivityBeta, 5 years: FTQI 0.66JEPQ 0.84; Market = 1

FTQI and JEPQ in the news

All news⁠

Deep Dive
JEPQ falls 6% as call option strategy fails to stem Nazdaq 100-linked losses
Nov 5, 2026JEPQ
New ETFs
Five new ETFs from VanEck, XFUNDS, Tuttle, Tema and THOR do not share a market
Nov 4, 2026JEPQ
Deep Dive
How JEPQ trades Nasdaq-100 upside for monthly income. Here's how.
Oct 20, 2026JEPQ
ETF Filings
Franklin Templeton files two PayDay ETFs that would pay every two weeks
Oct 16, 2026JEPQ
ETF Filings
Aptus files the Aptus Nasdaq-100 Enhanced Yield ETF, JUCQ, targeting distributions of 5% to 12%
Oct 16, 2026JEPQ
Deep Dive
JPMorgan Equity Premium Income ETF paid $0.34 a share, and the 8% yield is not a promise
Oct 10, 2026JEPQ

Popular comparisons

FTQIAvsQQAA
First Trust Nasdaq BuyWrite Income ETF · Invesco QQQ Income Advantage ETF
Expense ratio
0.75% · 0.29%
Category
JEPQAvsQQQIA
JPMorgan Nasdaq Equity Premium Income ETF · NEOS Nasdaq-100 High Income ETF
Expense ratio
0.35% · 0.68%
Category
FTQIAvsGPIQA
First Trust Nasdaq BuyWrite Income ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.75% · 0.29%
Category
JEPQAvsGPIQA
JPMorgan Nasdaq Equity Premium Income ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.35% · 0.29%
Category
FTQIAvsQYLDA
First Trust Nasdaq BuyWrite Income ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.75% · 0.60%
Category
JEPQAvsQYLDA
JPMorgan Nasdaq Equity Premium Income ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.35% · 0.60%
Category

FTQI vs JEPQ

In short

Stated mandate

Why people hold it