JEPQ vs QQQH: Grades, Fees and Holdings Compared

JPMorgan Nasdaq Equity Premium Income ETF

JEPQANasdaq

NEOS Nasdaq-100 Hedged Equity Income ETF

QQQHBNasdaq

Overlap

72.6%by weight

Expense ratio

JEPQ −0.33pt a year

JEPQ0.35%QQQH0.68%

Avg volume · 30D

JEPQ 172.5×the volume

JEPQ6.35MQQQH36.8K

3Y return · a year

JEPQ+20.0%QQQH+20.0%

JEPQ vs QQQH Performance

Oct 31, 2025 – Oct 30, 2026

+9.5%JEPQ+4.2%QQQH

Expense ratio: JEPQ 0.35%, better; QQQH 0.68%
Fund size: JEPQ $42.5B; QQQH $368M
1Y total return: JEPQ +9.5%, better; QQQH +4.2%
Yield (12M): JEPQ 11.96%, better; QQQH 9.28%
Holdings: JEPQ 111; QQQH 103
Avg volume (30D): JEPQ 6.35M sh, better; QQQH 36.8K sh
NAV per share: JEPQ $57.56; QQQH $52.85
52W range

ETF.net Grade

Pillar letters and Scores for JEPQ, QQQH, with each pillar’s weight
Pillar	JEPQ	QQQH
Cost30% weight	A82Higher	C53
Mission25% weight	A100	Not scored
Risk15% weight	B69Higher	C47
Tradability15% weight	A76Higher	B57
Holdings10% weight	C47	A84Higher
Durability5% weight	A91Higher	A76

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. JEPQ and QQQH 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 QQQH 14th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 83
Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 3AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 80
Rank 4AQYLDGlobal X Nasdaq 100 Covered Call ETFScore 79
Rank 13BEDGQGlobal X Nasdaq-100 Income Edge ETFScore 61
Rank 14BQQQHNEOS Nasdaq-100 Hedged Equity Income ETFScore 58
Rank 15BHEQQJPMorgan Nasdaq Hedged Equity Laddered Overlay ETFScore 55

Our read on each fund

ETF.net Research

JEPQAJPMorgan Nasdaq Equity Premium Income ETF

QQQHBNEOS Nasdaq-100 Hedged Equity Income ETF

In short

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.

QQQH Most Nasdaq-100 income funds just sell calls. QQQH spends part of that premium on a put spread, so the collar is built to cushion drawdowns as well as pay monthly. Downside cushion in, some upside out.

Stated mandate

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.

QQQH The fund seeks high monthly income in a tax-efficient manner while providing a measure of downside protection. It uses Nasdaq-100 stocks together with a put-spread options collar.

Why people hold it

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

QQQH Three legs: sold calls, bought puts, sold lower puts. The prospectus targets a net credit, so premium pays for the hedge instead of the hedge eating the income.sec.gov
Owns the Nasdaq-100 stocks outright rather than renting exposure through swaps or another ETF, so share dividends stack on top of the index-option premium.sec.gov
Pays monthly with no advertised target rate, so the payout follows what the options market actually pays rather than a number set in marketing.
Live since 2019, first as NUSI, with NEOS taking it over in 2024. Real trading history through real drawdowns, not a backtest.neosfunds.com

Worth knowing

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

QQQH 0.68% sits right at the middle of the Nasdaq-100 income group. QQA (0.33%), JEPQ and GPIQ (0.35%) charge roughly half for their own spin on the trade.
Upside is capped by design. The prospectus says plainly that gains are limited, which is the price of the put spread underneath.sec.gov
Trades thinner than the category's giants, so limit orders earn their keep. Part of the distribution can be return of capital, which the fund discloses.

Full JEPQ profile⁠

Full QQQH profile⁠

JEPQ vs QQQH Holdings

How JEPQ and QQQH differ

Overlap by weight

72.6%

Shared holdings make up 88.4% of QQQH and 78.0% of JEPQ.

Level by level

Holdings75 in both72.6%
Sector11 Sectors97.4%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in JEPQ and QQQH, widest gap first
Sector	More in JEPQMore in QQQH	JEPQ	QQQH
Communication	JEPQ +1.5 points	12.6%	11.1%
Consumer Staples	QQQH +1.1 points	5.2%	6.3%
Technology	JEPQ +0.8 points	61.0%	60.2%
Health Care	QQQH +0.4 points	4.2%	4.6%
Industrials	QQQH +0.3 points	3.9%	4.2%
Utilities	QQQH +0.3 points	0.9%	1.2%
Materials	QQQH +0.2 points	0.8%	1.0%
Consumer Discretionary	QQQH +0.1 points	10.5%	10.6%
Real Estate	JEPQ +0.2 points	0.2%	0.0%
Financials	JEPQ +0.2 points	0.4%	0.2%
Energy	QQQH +0.1 points	0.3%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in JEPQ and QQQH, widest gap first
Country	More in JEPQMore in QQQH	JEPQ	QQQH
United States	JEPQ +0.4 points	97.6%	97.2%
Netherlands	JEPQ +0.3 points	1.1%	0.9%
Canada	QQQH +0.4 points	0.7%	1.1%
Brazil	Same weight	0.4%	0.4%
China	QQQH +0.2 points	0.1%	0.3%
United Kingdom	QQQH +0.2 points	0.0%	0.2%

Concentration

Weight in the 10 largest Holdings

JEPQ42.3%
QQQH46.8%

Securities held

JEPQ110
QQQH103

Asset class

JEPQ: Equity
QQQH: Equity

Holdings

Only in JEPQ35
In both75
Only in QQQH28

Only in JEPQ

35 securities, 21.9% of JEPQ by weight

NDX_141.18%
NDX_131.18%
NDX_121.17%
NDX_151.16%
NDX_111.16%
NDX_161.16%
NDX_171.16%
NDX_101.13%
NDX_91.13%
NDX_51.10%
NDX_81.10%
NDX_31.09%
NDX_41.09%
NDX_61.09%
NDX_71.09%
JPMorgan Prime Money0.91%
AbbVie Inc Common Stock0.50%
Eaton Corp PLC Common0.31%
Deere & Co Common Stock0.30%
Mastercard Inc Common0.27%
The Southern Company0.27%
Nextera Energy Inc0.26%
Lowe's Cos Inc Common0.23%
Bristol-Myers Squibb Co0.22%
The Coca-Cola Company0.22%
Thermo Fisher Scientific0.22%
Corpay Inc0.19%
Chipotle Mexican Grill0.18%
UnitedHealth Group Inc0.16%
Prologis Inc Reit USD0.16%
Servicenow Inc Common0.15%
Hilton Worldwide Holdings0.15%
Uber Technologies Inc0.12%
Hubspot Inc Common Stock0.08%
United Parcel Service0.06%

Only in QQQH

28 securities, 14.2% of QQQH by weight

Cash & Other3.74%
Alphabet Inc2.62%
Ndx Us 12/18/26 P268001.59%
Automatic Data Processing Inc0.52%
Fortinet Inc0.46%
Cadence Design Systems Inc0.42%
Cintas Corp0.40%
American Electric Power Co Inc0.31%
Lumentum Holdings Inc0.29%
Monolithic Power Systems Inc0.27%
Fastenal Co0.26%
Baker Hughes Co0.24%
PACCAR Inc0.24%
Keurig Dr Pepper Inc0.23%
Autodesk Inc0.23%
Exelon Corp0.23%
Coca-Cola Europacific Partners PLC0.22%
IDEXX Laboratories Inc0.21%
Roper Technologies Inc0.21%
Microchip Technology Inc0.20%
Thomson Reuters Corp0.20%
Paychex Inc0.19%
Old Dominion Freight Line Inc0.17%
Ferrovial NV0.17%
GE HealthCare Technologies Inc0.17%
Axon Enterprise Inc0.17%
Rocket Lab Corp0.15%
CoreWeave Inc0.11%

Weight gaps

All 75 Holdings in both funds, largest gap first.

Holding weights in JEPQ and QQQH, widest gap first
Holding	More in JEPQMore in QQQH	JEPQ	QQQH
Alphabet Inc-Cl C -GOOG	JEPQ +1.62 points	4.08%	2.46%
Apple Inc Common StockAAPL	QQQH +1.07 points	6.99%	8.06%
Tesla Inc Common StockTSLA	QQQH +0.91 points	2.40%	3.31%
NVIDIA Corp Common StockNVDA	QQQH +0.88 points	6.99%	7.87%
Gilead Sciences IncGILD	QQQH +0.80 points	0.15%	0.95%
Kla Corp Common Stock USDKLAC	QQQH +0.80 points	0.12%	0.92%
Intel Corp Common StockINTC	QQQH +0.71 points	0.82%	1.53%
Costco Wholesale CorpCOST	QQQH +0.69 points	1.28%	1.97%
Amgen Inc Common StockAMGN	QQQH +0.67 points	0.47%	1.14%
Walmart Inc Common StockWMT	QQQH +0.64 points	2.00%	2.64%
Cisco Systems Inc CommonCSCO	QQQH +0.63 points	1.18%	1.81%
Seagate TechnologySTX	JEPQ +0.61 points	1.27%	0.66%
Applied Materials IncAMAT	QQQH +0.61 points	0.75%	1.36%
Microsoft Corp CommonMSFT	QQQH +0.58 points	5.60%	6.18%
Palantir Technologies IncPLTR	QQQH +0.56 points	1.31%	1.87%
Broadcom Inc CommonAVGO	QQQH +0.56 points	1.91%	2.47%
Constellation EnergyCEG	QQQH +0.38 points	0.05%	0.43%
Space ExplorationSPCX	JEPQ +0.38 points	1.55%	1.17%
Amazon.com Inc CommonAMZN	QQQH +0.35 points	3.80%	4.15%
Texas Instruments IncTXN	QQQH +0.34 points	0.89%	1.23%
Linde PLC Common StockLIN	QQQH +0.32 points	0.75%	1.07%
Lam Research Corp CommonLRCX	JEPQ +0.32 points	1.63%	1.31%
Sandisk Corp CommonSNDK	QQQH +0.29 points	0.46%	0.75%
Analog Devices IncADI	JEPQ +0.27 points	1.19%	0.92%
Shopify Inc Common StockSHOP	QQQH +0.27 points	0.58%	0.85%
Starbucks Corp CommonSBUX	QQQH +0.26 points	0.28%	0.54%
Asml Holding NV Ny RegASML	JEPQ +0.25 points	0.91%	0.66%
Meta Platforms Inc CommonMETA	QQQH +0.24 points	2.67%	2.91%
Qualcomm Inc Common StockQCOM	QQQH +0.24 points	0.53%	0.77%
Csx Corp Common Stock USDCSX	JEPQ +0.24 points	0.68%	0.44%
T-Mobile Us Inc CommonTMUS	QQQH +0.24 points	0.51%	0.75%
Teradyne Inc Common StockTER	JEPQ +0.23 points	0.43%	0.20%
Datadog Inc Common StockDDOG	QQQH +0.23 points	0.13%	0.36%
Nxp Semiconductors NVNXPI	JEPQ +0.22 points	0.52%	0.30%
Airbnb Inc Common StockABNB	QQQH +0.20 points	0.10%	0.30%
Western Digital CorpWDC	QQQH +0.20 points	0.30%	0.50%
Pdd Holdings Inc Adr USDPDD	QQQH +0.19 points	0.06%	0.25%
Arm Holdings PLC Adr USDARM	QQQH +0.18 points	0.22%	0.40%
Adobe Inc Common StockADBE	QQQH +0.16 points	0.28%	0.44%
Moderna Inc Common StockMRNA	QQQH +0.16 points	0.16%	0.32%
Regeneron PharmaceuticalsREGN	JEPQ +0.16 points	0.60%	0.44%
Advanced Micro DevicesAMD	QQQH +0.15 points	3.45%	3.60%
Astera Labs Inc CommonALAB	QQQH +0.15 points	0.05%	0.20%
Pepsico Inc Common StockPEP	QQQH +0.15 points	0.70%	0.85%
Strategy Inc Common StockMSTR	QQQH +0.13 points	0.05%	0.18%
Marvell Technology IncMRVL	JEPQ +0.13 points	0.91%	0.78%
Mondelez InternationalMDLZ	JEPQ +0.13 points	0.50%	0.37%
Synopsys Inc CommonSNPS	JEPQ +0.13 points	0.54%	0.41%
Marriott InternationalMAR	QQQH +0.12 points	0.36%	0.48%
Doordash Inc CommonDASH	QQQH +0.12 points	0.21%	0.33%
O'reilly Automotive IncORLY	JEPQ +0.11 points	0.45%	0.34%
PayPal Holdings IncPYPL	QQQH +0.11 points	0.11%	0.22%
Ross Stores Inc CommonROST	QQQH +0.11 points	0.23%	0.34%
Monster Beverage CorpMNST	JEPQ +0.11 points	0.53%	0.42%
Diamondback Energy IncFANG	JEPQ +0.09 points	0.35%	0.26%
Crowdstrike Holdings IncCRWD	QQQH +0.08 points	1.06%	1.14%
Workday Inc Common StockWDAY	QQQH +0.08 points	0.09%	0.17%
Micron Technology IncMU	QQQH +0.08 points	4.32%	4.40%
Copart Inc Common StockCPRT	JEPQ +0.07 points	0.21%	0.14%
Applovin Corp CommonAPP	QQQH +0.07 points	0.24%	0.31%
Honeywell Aerospace IncHONA	QQQH +0.06 points	0.16%	0.22%
Xcel Energy Inc CommonXEL	JEPQ +0.06 points	0.29%	0.24%
Booking Holdings IncBKNG	JEPQ +0.05 points	0.55%	0.50%
Take-Two InteractiveTTWO	JEPQ +0.05 points	0.22%	0.17%
Netflix Inc Common StockNFLX	QQQH +0.05 points	1.10%	1.15%
Intuit Inc Common StockINTU	JEPQ +0.04 points	0.47%	0.43%
Vertex PharmaceuticalsVRTX	JEPQ +0.04 points	0.69%	0.65%
Dexcom Inc Common StockDXCM	JEPQ +0.04 points	0.19%	0.15%
Mercadolibre Inc CommonMELI	QQQH +0.03 points	0.35%	0.38%
Nebius Group NV CommonNBIS	JEPQ +0.02 points	0.18%	0.16%
Alnylam PharmaceuticalsALNY	JEPQ +0.02 points	0.12%	0.10%
Honeywell InternationalHON	JEPQ +0.01 points	0.31%	0.30%
Comcast Corp CommonCMCSA	JEPQ +0.01 points	0.39%	0.38%
Intuitive Surgical IncISRG	Same weight	0.68%	0.68%
Palo Alto Networks IncPANW	Same weight	1.33%	1.33%

All 110 JEPQ holdings⁠All QQQH 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.

JEPQ vs QQQH Cost

Overpaying QQQH vs JEPQ

$6,126

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

JEPQ 0.35%
$7,126
QQQH 0.68%
$13,252

Amount$10,000

Years30 years

Cost over time

JEPQ 0.35%
QQQH 0.68%
Overpaying

Year by year

Year	JEPQ	QQQH	Overpaying
10	$634	$1,215	$581
20	$2,454	$4,633	$2,179
30	$7,126	$13,252	$6,126

Expense ratio

0.35%JEPQ, cheaper
0.68%QQQH

JEPQ0.35%QQQH0.68%

0.00%1.20%

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

JEPQ 4th cheapest of 30 funds

QQQH 13th cheapest of 30 funds

JEPQ vs QQQH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JEPQ 11.96%, better; QQQH 9.28%
Payout (12M): JEPQ $6.88; QQQH $4.91
Last payment: JEPQ $0.57; QQQH $0.41
Ex-dividend: JEPQ Oct 1, 2026; QQQH Oct 28, 2026
Paid on: JEPQ Oct 5, 2026; QQQH Oct 30, 2026
Frequency: JEPQ Monthly; QQQH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JEPQMonthly · 45 paymentsAll JEPQ payments⁠

QQQHMonthly · 46 paymentsAll QQQH payments⁠

JEPQ vs QQQH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JEPQ 11.8%QQQH 11.0%, better
Return per unit of riskSharpe ratio, 3 years: JEPQ 1.24QQQH 1.33, better
Worst fallMax drawdown, 5 years: JEPQ −20.1%since May 2022QQQH −52.7%
Market sensitivityBeta, 5 years: JEPQ 0.83QQQH 0.78; Market = 1

JEPQ and QQQH 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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JEPQ vs QQQH

In short

Stated mandate

Why people hold it