IQQQ vs JEPQ: Grades, Fees and Holdings Compared

ProShares Nasdaq-100 High Income ETF

IQQQBNasdaq

JPMorgan Nasdaq Equity Premium Income ETF

JEPQANasdaq

Overlap

69.2%by weight

Expense ratio

JEPQ −0.20pt a year

IQQQ0.55%JEPQ0.35%

Avg volume · 30D

JEPQ 133.2×the volume

IQQQ47.7KJEPQ6.35M

IQQQ vs JEPQ Performance

Oct 31, 2025 – Nov 2, 2026

+3.6%IQQQ+8.0%JEPQ

Expense ratio: IQQQ 0.55%; JEPQ 0.35%, better
Fund size: IQQQ $377M; JEPQ $42.5B
1Y total return: IQQQ +3.6%; JEPQ +8.0%, better
Yield (12M): IQQQ 7.18%; JEPQ 13.20%, better
Holdings: IQQQ 102; JEPQ 111
Avg volume (30D): IQQQ 47.7K sh; JEPQ 6.35M sh, better
NAV per share: IQQQ $45.53; JEPQ $57.56
52W range

ETF.net Grade

Pillar letters and Scores for IQQQ, JEPQ, with each pillar’s weight
Pillar	IQQQ	JEPQ
Cost30% weight	A70	A82Higher
Mission25% weight	A89	A100Higher
Risk15% weight	D32	B69Higher
Tradability15% weight	A73Higher	A71
Holdings10% weight	C45	C47Higher
Durability5% weight	B65	A91Higher

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. IQQQ 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 3rd and IQQQ 10th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 84
Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 3AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 79
Rank 3AQYLDGlobal X Nasdaq 100 Covered Call ETFScore 79
Rank 9BROCQJPMorgan Nasdaq Equity Premium Yield ETFScore 69
Rank 10BIQQQProShares Nasdaq-100 High Income ETFScore 66
Rank 10BQRMIGlobal X Nasdaq 100 Risk Managed Income ETFScore 66

Our read on each fund

ETF.net Research

IQQQBProShares Nasdaq-100 High Income ETF

JEPQAJPMorgan Nasdaq Equity Premium Income ETF

In short

IQQQ ProShares runs the covered-call playbook on a daily clock: IQQQ sells calls on the Nasdaq-100 that expire every session, then pays out monthly with a stated floor of 6% annualized income. Big-tech exposure with a rent check attached.

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

IQQQ IQQQ seeks high income through a daily covered-call strategy while pursuing long-term total returns consistent with the Nasdaq-100 Index.

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

IQQQ Sells Nasdaq-100 calls that expire daily rather than monthly, so premium is harvested every session and the option positions reset constantly.proshares.com
ProShares states a target of at least 6% annualized income, paid monthly. Most peers just pay what the options market gives them that month.proshares.com
0.55% a year undercuts the median fee in its Nasdaq-100 income cohort, and it sits in the upper half of that 27-fund group on our review.
Holds roughly 100 stocks and keeps chasing Nasdaq-100 total return alongside the income, so it stays a growth-index fund with a yield overlay, not a bond substitute.

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

IQQQ Written calls hand away part of a strong Nasdaq rally. The income is paid for with upside.proshares.com
ProShares discloses that distributions can include return of capital, meaning some of a payout may be your own money coming back.proshares.com
Launched in 2024, so the record is short, and cheaper Nasdaq-100 income rivals exist: QQA at 0.33%, GPIQ and JEPQ at 0.35%.

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 IQQQ profile⁠

Full JEPQ profile⁠

IQQQ vs JEPQ Holdings

How IQQQ and JEPQ differ

Overlap by weight

69.2%

Shared holdings make up 78.4% of IQQQ and 77.1% of JEPQ.

Level by level

Holdings75 in both69.2%
Sector11 Sectors84.2%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in IQQQ and JEPQ, widest gap first
Sector	More in IQQQMore in JEPQ	IQQQ	JEPQ
Financials	IQQQ +14.3 points	14.7%	0.4%
Technology	JEPQ +10.6 points	50.4%	61.0%
Communication	JEPQ +3.1 points	9.5%	12.6%
Consumer Discretionary	JEPQ +1.5 points	9.0%	10.5%
Industrials	IQQQ +1.0 points	4.9%	3.9%
Health Care	JEPQ +0.4 points	3.8%	4.2%
Consumer Staples	IQQQ +0.3 points	5.5%	5.2%
Real Estate	JEPQ +0.2 points	0.0%	0.2%
Materials	IQQQ +0.1 points	0.9%	0.8%
Energy	Same weight	0.4%	0.3%
Utilities	Same weight	0.9%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in IQQQ and JEPQ, widest gap first
Country	More in IQQQMore in JEPQ	IQQQ	JEPQ
United States	JEPQ +0.3 points	97.3%	97.6%
Netherlands	JEPQ +0.4 points	0.8%	1.1%
Canada	IQQQ +0.4 points	1.1%	0.7%
Brazil	Same weight	0.4%	0.4%
China	IQQQ +0.1 points	0.2%	0.1%
United Kingdom	IQQQ +0.2 points	0.2%	0.0%

Concentration

Weight in the 10 largest Holdings

IQQQ53.0%
JEPQ41.8%

Securities held

IQQQ102
JEPQ110

Asset class

IQQQ: Equity
JEPQ: Equity

Holdings

Only in IQQQ27
In both75
Only in JEPQ35

Only in IQQQ

27 securities, 22.8% of IQQQ by weight

Proshares Genius Mny Mkt Etf15.12%
Alphabet Inc-Cl A2.30%
Automatic Data Processing0.45%
Fortinet Inc0.39%
Cadence Design Sys Inc0.35%
Cintas Corp0.34%
Lumentum Holdings Inc0.29%
American Electric Power0.27%
Fastenal Co0.23%
Monolithic Power Systems Inc0.23%
Baker Hughes Co0.21%
Paccar Inc0.21%
Autodesk Inc0.20%
Coca-Cola Europacific Partne0.19%
Keurig Dr Pepper Inc0.19%
Exelon Corp0.18%
Roper Technologies Inc0.18%
Thomson Reuters Corp0.17%
Idexx Laboratories Inc0.17%
Microchip Technology Inc0.16%
Ferrovial NV0.16%
Paychex Inc0.15%
Old Dominion Freight Line0.14%
Axon Enterprise Inc0.13%
Ge Healthcare Technology0.13%
Rocket Lab Corp0.13%
Coreweave Inc-Cl A0.10%

Only in JEPQ

35 securities, 22.2% of JEPQ by weight

NDX_131.17%
NDX_141.17%
NDX_121.17%
NDX_151.16%
NDX_171.16%
NDX_161.16%
NDX_111.15%
NDX_181.14%
NDX_101.13%
NDX_91.12%
NDX_81.09%
NDX_51.09%
NDX_41.08%
NDX_61.08%
NDX_71.08%
JPMorgan Prime Money1.04%
AbbVie Inc Common Stock0.49%
Eaton Corp PLC Common0.31%
Deere & Co Common Stock0.30%
Mastercard Inc Common0.28%
The Southern Company0.27%
Nextera Energy Inc0.27%
Lowe's Cos Inc Common0.24%
The Coca-Cola Company0.22%
Bristol-Myers Squibb Co0.22%
Thermo Fisher Scientific0.21%
Hilton Worldwide Holdings0.21%
Corpay Inc0.19%
Chipotle Mexican Grill0.19%
Prologis Inc Reit USD0.16%
UnitedHealth Group Inc0.16%
Servicenow Inc Common0.15%
Uber Technologies Inc0.13%
Hubspot Inc Common Stock0.08%
United Parcel Service0.06%

Weight gaps

All 75 Holdings in both funds, largest gap first.

Holding weights in IQQQ and JEPQ, widest gap first
Holding	More in IQQQMore in JEPQ	IQQQ	JEPQ
Alphabet Inc-Cl CGOOG	JEPQ +1.95 points	2.15%	4.10%
Kla CorpKLAC	IQQQ +0.68 points	0.80%	0.12%
Space Exploration Techn-Cl ASPCX	IQQQ +0.68 points	2.23%	1.55%
Gilead Sciences IncGILD	IQQQ +0.67 points	0.82%	0.15%
Seagate Technology HoldingsSTX	JEPQ +0.61 points	0.57%	1.18%
Intel CorpINTC	IQQQ +0.59 points	1.34%	0.75%
Tesla IncTSLA	IQQQ +0.51 points	2.94%	2.43%
Amgen IncAMGN	IQQQ +0.50 points	0.97%	0.47%
Applied Materials IncAMAT	IQQQ +0.48 points	1.20%	0.72%
Cisco Systems IncCSCO	IQQQ +0.43 points	1.59%	1.16%
Costco Wholesale CorpCOST	IQQQ +0.42 points	1.74%	1.32%
Analog Devices IncADI	JEPQ +0.40 points	0.78%	1.18%
Lam Research CorpLRCX	JEPQ +0.40 points	1.16%	1.56%
Palantir Technologies Inc-APLTR	IQQQ +0.37 points	1.64%	1.27%
Asml Holding Nv-Ny Reg ShsASML	JEPQ +0.33 points	0.57%	0.90%
Constellation EnergyCEG	IQQQ +0.31 points	0.36%	0.05%
Csx CorpCSX	JEPQ +0.31 points	0.37%	0.68%
Amazon.com IncAMZN	JEPQ +0.28 points	3.63%	3.91%
Broadcom IncAVGO	IQQQ +0.27 points	2.17%	1.90%
Nxp Semiconductors NVNXPI	JEPQ +0.27 points	0.25%	0.52%
Regeneron PharmaceuticalsREGN	JEPQ +0.26 points	0.36%	0.62%
Walmart IncWMT	IQQQ +0.24 points	2.32%	2.08%
Teradyne IncTER	JEPQ +0.24 points	0.17%	0.41%
Micron Technology IncMU	JEPQ +0.24 points	3.86%	4.10%
Western Digital CorpWDC	IQQQ +0.23 points	0.51%	0.28%
Sandisk CorpSNDK	IQQQ +0.22 points	0.65%	0.43%
Synopsys IncSNPS	JEPQ +0.19 points	0.35%	0.54%
O'reilly Automotive IncORLY	JEPQ +0.19 points	0.28%	0.47%
Mondelez International Inc-AMDLZ	JEPQ +0.19 points	0.32%	0.51%
Datadog Inc - Class ADDOG	IQQQ +0.18 points	0.30%	0.12%
Monster Beverage CorpMNST	JEPQ +0.18 points	0.36%	0.54%
Moderna IncMRNA	IQQQ +0.18 points	0.34%	0.16%
Starbucks CorpSBUX	IQQQ +0.17 points	0.46%	0.29%
Texas Instruments IncTXN	IQQQ +0.16 points	1.06%	0.90%
Airbnb Inc-Class AABNB	IQQQ +0.17 points	0.27%	0.10%
Linde PLCLIN	IQQQ +0.16 points	0.92%	0.76%
Shopify Inc - Class ASHOP	IQQQ +0.16 points	0.74%	0.58%
Qualcomm IncQCOM	IQQQ +0.15 points	0.67%	0.52%
Apple IncAAPL	IQQQ +0.15 points	7.05%	6.90%
Booking Holdings IncBKNG	JEPQ +0.14 points	0.43%	0.57%
Vertex Pharmaceuticals IncVRTX	JEPQ +0.14 points	0.55%	0.69%
Pdd Holdings IncPDD	IQQQ +0.13 points	0.20%	0.07%
Arm Holdings Plc-AdrARM	IQQQ +0.14 points	0.35%	0.21%
Marvell Technology IncMRVL	JEPQ +0.13 points	0.67%	0.80%
Strategy IncMSTR	IQQQ +0.13 points	0.18%	0.05%
Palo Alto Networks IncPANW	JEPQ +0.13 points	1.15%	1.28%
Astera Labs IncALAB	IQQQ +0.13 points	0.17%	0.04%
Intuit IncINTU	JEPQ +0.13 points	0.36%	0.49%
Copart IncCPRT	JEPQ +0.12 points	0.11%	0.23%
T-Mobile Us IncTMUS	IQQQ +0.12 points	0.65%	0.53%
Netflix IncNFLX	JEPQ +0.11 points	1.00%	1.11%
Diamondback Energy IncFANG	JEPQ +0.10 points	0.23%	0.33%
Xcel Energy IncXEL	JEPQ +0.11 points	0.19%	0.29%
Intuitive Surgical IncISRG	JEPQ +0.10 points	0.59%	0.69%
Adobe IncADBE	IQQQ +0.09 points	0.38%	0.29%
Marriott International -Cl AMAR	IQQQ +0.09 points	0.40%	0.31%
Take-Two Interactive SoftwreTTWO	JEPQ +0.08 points	0.14%	0.22%
Meta Platforms Inc-Class AMETA	JEPQ +0.09 points	2.56%	2.65%
Comcast Corp-Class ACMCSA	JEPQ +0.08 points	0.32%	0.40%
PayPal Holdings IncPYPL	IQQQ +0.08 points	0.19%	0.11%
Dexcom IncDXCM	JEPQ +0.08 points	0.12%	0.20%
Doordash Inc - ADASH	IQQQ +0.06 points	0.28%	0.22%
Workday Inc-Class AWDAY	IQQQ +0.06 points	0.15%	0.09%
Honeywell International IncHON	JEPQ +0.05 points	0.27%	0.32%
Mercadolibre IncMELI	JEPQ +0.05 points	0.32%	0.37%
Ross Stores IncROST	IQQQ +0.04 points	0.28%	0.24%
Microsoft CorpMSFT	JEPQ +0.04 points	5.43%	5.47%
NVIDIA CorpNVDA	JEPQ +0.03 points	6.91%	6.94%
Crowdstrike Holdings Inc - ACRWD	JEPQ +0.04 points	0.99%	1.03%
Alnylam Pharmaceuticals IncALNY	JEPQ +0.03 points	0.09%	0.12%
Applovin Corp-Class AAPP	IQQQ +0.03 points	0.27%	0.24%
Honeywell Aerospace IncHONA	IQQQ +0.03 points	0.19%	0.16%
Nebius Group NVNBIS	JEPQ +0.03 points	0.14%	0.17%
Advanced Micro DevicesAMD	JEPQ +0.01 points	3.19%	3.20%
Pepsico IncPEP	Same weight	0.72%	0.72%

All 107 IQQQ 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.

IQQQ vs JEPQ Cost

Overpaying IQQQ vs JEPQ

$3,778

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

IQQQ 0.55%
$10,904
JEPQ 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

IQQQ 0.55%
JEPQ 0.35%
Overpaying

Year by year

Year	IQQQ	JEPQ	Overpaying
10	$988	$634	$354
20	$3,790	$2,454	$1,336
30	$10,904	$7,126	$3,778

Expense ratio

0.55%IQQQ
0.35%JEPQ, cheaper

JEPQ0.35%IQQQ0.55%

0.00%1.20%

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

JEPQ 4th cheapest of 30 funds

IQQQ 9th cheapest of 30 funds

IQQQ vs JEPQ Dividends

Last 12 months to Nov 2, 2026

Yield (12M): IQQQ 7.18%; JEPQ 13.20%, better
Payout (12M): IQQQ $3.21; JEPQ $7.42
Last payment: IQQQ $0.23; JEPQ $0.54
Ex-dividend: IQQQ Nov 2, 2026; JEPQ Nov 2, 2026
Paid on: IQQQ Pays Nov 6, 2026; JEPQ Pays Nov 4, 2026
Frequency: IQQQ Monthly; JEPQ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IQQQMonthly · 31 paymentsAll IQQQ payments⁠

JEPQMonthly · 46 paymentsAll JEPQ payments⁠

IQQQ vs JEPQ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IQQQ 16.7%since Apr 2024JEPQ 11.8%
Return per unit of riskSharpe ratio, 3 years: IQQQ 0.65since Apr 2024JEPQ 1.24
Worst fallMax drawdown, 5 years: IQQQ −20.4%since Mar 2024JEPQ −20.1%since May 2022
Market sensitivityBeta, 5 years: IQQQ 1.16JEPQ 0.83; Market = 1

IQQQ and JEPQ in the news

All news⁠

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
ETF Filings
Motley Fool files five Fool 100 ETFs, three for options income
Oct 9, 2026JEPQ
Income Watch
Even counting the checks, JPMorgan's income funds trailed the stock funds
Oct 4, 2026JEPQ

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