JEPQ vs QYLD: Grades, Fees and Holdings Compared

JPMorgan Nasdaq Equity Premium Income ETF

JEPQANasdaq

Global X Nasdaq 100 Covered Call ETF

QYLDANasdaq

Overlap

72.4%by weight

Expense ratio

JEPQ −0.25pt a year

JEPQ0.35%QYLD0.60%

Avg volume · 30D

JEPQ 1.4×the volume

JEPQ6.6MQYLD4.59M

3Y return · a year

JEPQ +3.2pt

JEPQ+17.6%QYLD+14.4%

JEPQ vs QYLD Performance

Nov 7, 2025 – Nov 9, 2026

+9.4%JEPQ+14.8%QYLD

Expense ratio: JEPQ 0.35%, better; QYLD 0.60%
Fund size: JEPQ $40.7B; QYLD $7.84B
1Y total return: JEPQ +9.4%; QYLD +14.8%, better
Yield (12M): JEPQ 12.39%, better; QYLD 12.11%
Holdings: JEPQ 111; QYLD 103
Avg volume (30D): JEPQ 6.6M sh, better; QYLD 4.59M sh
NAV per share: JEPQ $54.36; QYLD $17.11
52W range

ETF.net Grade

Pillar letters and Scores for JEPQ, QYLD, with each pillar’s weight
Pillar	JEPQ	QYLD
Cost30% weight	A82Higher	B65
Mission25% weight	A99	A100Higher
Risk15% weight	B60	A71Higher
Tradability15% weight	A77	A90Higher
Holdings10% weight	C50	A73Higher
Durability5% weight	A91	A91

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. JEPQ and QYLD 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 ›

QYLD ranks 2nd and JEPQ 4th 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

Our read on each fund

ETF.net Research

JEPQAJPMorgan Nasdaq Equity Premium Income ETF

QYLDAGlobal X Nasdaq 100 Covered Call 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.

QYLD Running since 2013, QYLD is the no-frills version of the Nasdaq-100 income trade: own the index, sell calls against it, pay out monthly. No stock picking, no manager discretion, just a rules-based buy-write index followed closely.

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.

QYLD QYLD seeks, before fees and expenses, to generally match the price and yield performance of the Cboe NASDAQ-100® BuyWrite V2 Index. It uses a buy-write strategy that holds NASDAQ-100 stocks and sells corresponding call options.

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

QYLD Simple machine: holds Nasdaq-100 stocks, sells the matching calls, and tracks the Cboe NASDAQ-100 BuyWrite V2 Index closely. Nothing to second-guess.
Income arrives monthly, and the 0.60% fee sits under the median for Nasdaq-100 options-income funds.
A multi-billion-dollar fund that trades very actively, so getting in and out is rarely the hard part.

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

QYLD Writing calls sells the upside. When the Nasdaq-100 runs past the strike, that gain goes to the option buyer, not the fund.
Leaner options on the same index: QQA at 0.33%, GPIQ and JEPQ at 0.35%.
Payouts are funded by option premium and no target rate is declared, so the monthly check varies with volatility.

Full JEPQ profile⁠

Full QYLD profile⁠

JEPQ vs QYLD Holdings

How JEPQ and QYLD differ

Overlap by weight

72.4%

Shared holdings make up 90.8% of QYLD and 77.4% of JEPQ.

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

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

Level by level

Holdings75 in both72.4%
Sector11 Sectors98.4%
Countryby domicile99.2%
Asset classStocks100%

Sector

Sector weights in JEPQ and QYLD, widest gap first
Sector	Gap	JEPQ	QYLD
Industrials	QYLD +0.8 points	4.4%	5.2%
Consumer Staples	QYLD +0.4 points	6.4%	6.8%
Consumer Discretionary	JEPQ +0.4 points	11.4%	11.0%
Communication	JEPQ +0.4 points	11.5%	11.1%
Financials	JEPQ +0.3 points	0.5%	0.2%
Technology	JEPQ +0.2 points	58.3%	58.1%
Health Care	JEPQ +0.2 points	5.0%	4.8%
Real Estate	JEPQ +0.2 points	0.2%	0.0%
Materials	QYLD +0.2 points	0.9%	1.1%
Utilities	QYLD +0.1 points	1.1%	1.2%
Energy	QYLD +0.1 points	0.4%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in JEPQ and QYLD, widest gap first
Country	Gap	JEPQ	QYLD
United States	JEPQ +0.4 points	97.7%	97.3%
Netherlands	JEPQ +0.3 points	1.1%	0.8%
Canada	QYLD +0.4 points	0.7%	1.1%
Brazil	Same weight	0.4%	0.4%
China	QYLD +0.2 points	0.1%	0.3%
United Kingdom	QYLD +0.2 points	0.0%	0.2%

Concentration

Weight in the 10 largest Holdings

JEPQ42.5%
QYLD47.0%

Securities held

JEPQ110
QYLD102

Asset class

JEPQ: Stocks
QYLD: Stocks

Holdings

Only in JEPQ35
In both75
Only in QYLD27

Only in JEPQ

35 securities, 22.6% of JEPQ by weight

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%
NDX_81.08%
NDX_71.08%
NDX_61.07%
JPMorgan Prime Money1.00%
AbbVie Inc Common Stock0.52%
Deere & Co Common Stock0.32%
Eaton Corp PLC Common0.30%
Mastercard Inc Common0.29%
Nextera Energy Inc Common0.28%
The Southern Company0.28%
Lowe's Cos Inc Common0.26%
The Coca-Cola Company0.23%
Bristol-Myers Squibb Co0.23%
Thermo Fisher Scientific0.23%
Hilton Worldwide Holdings0.22%
Corpay Inc0.22%
Chipotle Mexican Grill0.21%
Prologis Inc Reit USD0.16%
UnitedHealth Group Inc0.16%
Servicenow Inc Common0.15%
Uber Technologies Inc0.14%
Hubspot Inc Common Stock0.07%
United Parcel Service Inc0.07%

Only in QYLD

27 securities, 9.1% of QYLD by weight

Alphabet Inc-Cl A2.86%
Automatic Data Processing0.57%
Cintas Corp0.41%
Cadence Design Sys Inc0.41%
Fortinet Inc0.41%
American Electric Power0.32%
Fastenal Co0.28%
Monolithic Power Systems Inc0.27%
Autodesk Inc0.26%
Paccar Inc0.25%
Idexx Laboratories Inc0.25%
Coca-Cola Europacific Partners PLC0.24%
Keurig Dr Pepper Inc0.24%
Lumentum Holdings Inc0.23%
Baker Hughes Co0.22%
Roper Technologies Inc0.22%
Exelon Corp0.22%
Ferrovial NV0.20%
Thomson Reuters Corp0.20%
Paychex Inc0.20%
Ge Healthcare Technology0.18%
Old Dominion Freight Line0.16%
Rocket Lab Corp0.15%
Microchip Technology Inc0.15%
Axon Enterprise Inc0.12%
Coreweave Inc-Cl A0.10%
Other Payable & Receivables<0.01%

Weight gaps

All 75 Holdings in both funds, largest gap first.

Holding weights in JEPQ and QYLD, widest gap first
Holding	Gap	JEPQ	QYLD
Alphabet Inc-Cl C -GOOG	JEPQ +1.68 points	4.37%	2.69%
Apple Inc Common StockAAPL	QYLD +1.26 points	7.29%	8.55%
Space ExplorationSPCX	QYLD +1.12 points	1.60%	2.72%
NVIDIA Corp Common StockNVDA	QYLD +1.01 points	6.69%	7.70%
Tesla Inc Common StockTSLA	QYLD +0.97 points	2.25%	3.22%
Gilead Sciences IncGILD	QYLD +0.83 points	0.15%	0.98%
Costco Wholesale CorpCOST	QYLD +0.81 points	1.40%	2.21%
Microsoft Corp CommonMSFT	QYLD +0.77 points	5.98%	6.75%
Walmart Inc Common StockWMT	QYLD +0.76 points	2.13%	2.89%
Kla Corp Common Stock USDKLAC	QYLD +0.75 points	0.11%	0.86%
Amgen Inc Common StockAMGN	QYLD +0.70 points	0.48%	1.18%
Intel Corp Common StockINTC	QYLD +0.67 points	0.73%	1.40%
Cisco Systems Inc CommonCSCO	QYLD +0.64 points	1.11%	1.75%
Broadcom Inc CommonAVGO	QYLD +0.58 points	1.81%	2.39%
Applied Materials IncAMAT	QYLD +0.58 points	0.67%	1.25%
Palantir Technologies IncPLTR	QYLD +0.55 points	1.19%	1.74%
Amazon.com Inc CommonAMZN	QYLD +0.48 points	4.31%	4.79%
Seagate TechnologySTX	JEPQ +0.46 points	0.95%	0.49%
Constellation EnergyCEG	QYLD +0.37 points	0.05%	0.42%
Texas Instruments IncTXN	QYLD +0.34 points	0.86%	1.20%
Linde PLC Common StockLIN	QYLD +0.33 points	0.79%	1.12%
Meta Platforms Inc CommonMETA	QYLD +0.33 points	2.78%	3.11%
Moderna Inc Common StockMRNA	QYLD +0.27 points	0.20%	0.47%
Shopify Inc Common StockSHOP	QYLD +0.27 points	0.58%	0.85%
Starbucks Corp CommonSBUX	QYLD +0.27 points	0.30%	0.57%
T-Mobile Us Inc CommonTMUS	QYLD +0.26 points	0.56%	0.82%
Qualcomm Inc Common StockQCOM	QYLD +0.26 points	0.56%	0.82%
Analog Devices Inc CommonADI	JEPQ +0.26 points	1.09%	0.83%
Airbnb Inc Common StockABNB	QYLD +0.25 points	0.12%	0.37%
Advanced Micro DevicesAMD	QYLD +0.24 points	3.22%	3.46%
Csx Corp Common Stock USDCSX	JEPQ +0.25 points	0.67%	0.42%
Lam Research Corp CommonLRCX	JEPQ +0.24 points	1.43%	1.19%
Asml Holding NV Ny RegASML	JEPQ +0.24 points	0.87%	0.63%
Nxp Semiconductors NVNXPI	JEPQ +0.23 points	0.52%	0.29%
Sandisk Corp Common StockSNDK	QYLD +0.23 points	0.35%	0.58%
Western Digital CorpWDC	QYLD +0.22 points	0.23%	0.45%
Teradyne Inc Common StockTER	JEPQ +0.20 points	0.36%	0.16%
Marriott InternationalMAR	QYLD +0.18 points	0.33%	0.51%
Pdd Holdings Inc Adr USDPDD	QYLD +0.18 points	0.07%	0.25%
Regeneron PharmaceuticalsREGN	JEPQ +0.18 points	0.61%	0.43%
Datadog Inc Common StockDDOG	QYLD +0.18 points	0.10%	0.28%
Strategy Inc Common StockMSTR	QYLD +0.17 points	0.05%	0.22%
Adobe Inc Common StockADBE	QYLD +0.17 points	0.28%	0.45%
Arm Holdings PLC Adr USDARM	QYLD +0.16 points	0.20%	0.36%
Pepsico Inc Common StockPEP	QYLD +0.15 points	0.76%	0.91%
Micron Technology IncMU	QYLD +0.14 points	3.54%	3.68%
O'reilly Automotive IncORLY	JEPQ +0.14 points	0.48%	0.34%
Synopsys Inc Common StockSNPS	JEPQ +0.14 points	0.54%	0.40%
Mondelez InternationalMDLZ	JEPQ +0.14 points	0.53%	0.39%
Applovin Corp CommonAPP	QYLD +0.12 points	0.43%	0.55%
Doordash Inc Common StockDASH	QYLD +0.12 points	0.22%	0.34%
PayPal Holdings IncPYPL	QYLD +0.12 points	0.12%	0.24%
Astera Labs Inc CommonALAB	QYLD +0.12 points	0.04%	0.16%
Monster Beverage CorpMNST	JEPQ +0.11 points	0.53%	0.42%
Marvell Technology IncMRVL	JEPQ +0.10 points	0.69%	0.59%
Copart Inc Common StockCPRT	JEPQ +0.10 points	0.24%	0.14%
Ross Stores Inc CommonROST	QYLD +0.09 points	0.25%	0.34%
Crowdstrike Holdings IncCRWD	QYLD +0.09 points	0.96%	1.05%
Workday Inc Common StockWDAY	QYLD +0.09 points	0.09%	0.18%
Diamondback Energy IncFANG	JEPQ +0.08 points	0.31%	0.23%
Xcel Energy Inc CommonXEL	JEPQ +0.07 points	0.31%	0.24%
Take-Two InteractiveTTWO	JEPQ +0.07 points	0.26%	0.19%
Netflix Inc Common StockNFLX	QYLD +0.07 points	1.18%	1.25%
Honeywell Aerospace IncHONA	QYLD +0.07 points	0.16%	0.23%
Intuit Inc Common StockINTU	JEPQ +0.06 points	0.49%	0.43%
Vertex PharmaceuticalsVRTX	JEPQ +0.05 points	0.71%	0.66%
Booking Holdings IncBKNG	JEPQ +0.05 points	0.62%	0.57%
Dexcom Inc Common StockDXCM	JEPQ +0.05 points	0.19%	0.14%
Comcast Corp Common StockCMCSA	JEPQ +0.03 points	0.43%	0.40%
Alnylam PharmaceuticalsALNY	JEPQ +0.02 points	0.12%	0.10%
Mercadolibre Inc CommonMELI	QYLD +0.02 points	0.34%	0.36%
Nebius Group NV CommonNBIS	JEPQ +0.02 points	0.16%	0.14%
Palo Alto Networks IncPANW	QYLD +0.01 points	1.20%	1.21%
Intuitive Surgical IncISRG	QYLD +0.01 points	0.75%	0.76%
Honeywell InternationalHON	JEPQ +0.01 points	0.33%	0.32%

All 110 JEPQ holdings⁠All 102 QYLD 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 QYLD Cost

Overpaying QYLD vs JEPQ

$4,691

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

JEPQ 0.35%
$7,126
QYLD 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

JEPQ 0.35%
QYLD 0.60%
Overpaying

Year by year

Year	JEPQ	QYLD	Overpaying
10	$634	$1,076	$442
20	$2,454	$4,116	$1,662
30	$7,126	$11,817	$4,691

Expense ratio

0.35%JEPQ, cheaper
0.60%QYLD

JEPQ0.35%QYLD0.60%

0.00%1.20%

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

JEPQ 4th cheapest of 30 funds

QYLD 10th cheapest of 30 funds

JEPQ vs QYLD Dividends

Last 12 months to Nov 9, 2026

Yield (12M): JEPQ 12.39%, better; QYLD 12.11%
Payout (12M): JEPQ $6.95; QYLD $2.14
Last payment: JEPQ $0.54; QYLD $0.18
Ex-dividend: JEPQ Nov 2, 2026; QYLD Oct 19, 2026
Paid on: JEPQ Nov 4, 2026; QYLD Oct 22, 2026
Frequency: JEPQ Monthly; QYLD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JEPQMonthly · 46 paymentsAll JEPQ payments⁠

QYLDMonthly · 46 paymentsAll QYLD payments⁠

JEPQ vs QYLD 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%QYLD 8.1%, better
Return per unit of riskSharpe ratio, 3 years: JEPQ 1.24QYLD 1.31, better
Worst fallMax drawdown, 5 years: JEPQ −20.1%since May 2022QYLD −24.6%
Market sensitivityBeta, 5 years: JEPQ 0.84QYLD 0.48; Market = 1

JEPQ and QYLD in the news

All news⁠

Category Review
The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points
Updated Oct 2, 2026JEPQQYLD
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

Popular comparisons

JEPQAvsQQQIA
JPMorgan Nasdaq Equity Premium Income ETF · NEOS Nasdaq-100 High Income ETF
Expense ratio
0.35% · 0.68%
Category
QYLDAvsQQQIA
Global X Nasdaq 100 Covered Call ETF · NEOS Nasdaq-100 High Income ETF
Expense ratio
0.60% · 0.68%
Category
JEPQAvsGPIQA
JPMorgan Nasdaq Equity Premium Income ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.35% · 0.29%
Category
QYLDAvsGPIQA
Global X Nasdaq 100 Covered Call ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.60% · 0.29%
Category
JEPQAvsQQAA
JPMorgan Nasdaq Equity Premium Income ETF · Invesco QQQ Income Advantage ETF
Expense ratio
0.35% · 0.29%
Category
QYLDAvsQQAA
Global X Nasdaq 100 Covered Call ETF · Invesco QQQ Income Advantage ETF
Expense ratio
0.60% · 0.29%
Category

JEPQ vs QYLD

In short

Stated mandate

Why people hold it