JEPQ vs QYLD

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