JEPQ vs SEPQ: Grades, Fees and Holdings Compared

JPMorgan Nasdaq Equity Premium Income ETF

JEPQANasdaq

STF Tactical Growth & Income ETF

SEPQBNasdaq

Overlap

68.5%by weight

Expense ratio

JEPQ −0.30pt a year

JEPQ0.35%SEPQ0.65%

Avg volume · 30D

JEPQ 231.6×the volume

JEPQ6.35MSEPQ27.4K

JEPQ vs SEPQ Performance

Jul 31, 2026 – Oct 30, 2026

+2.1%JEPQ+0.3%SEPQ

Expense ratio: JEPQ 0.35%, better; SEPQ 0.65%
Fund size: JEPQ $42.5B; SEPQ $93M
1Y total return: JEPQ +9.5%; SEPQ No data
Yield (12M): JEPQ 11.96%; SEPQ 12.02%, better
Holdings: JEPQ 111; SEPQ 97
Avg volume (30D): JEPQ 6.35M sh, better; SEPQ 27.4K sh
NAV per share: JEPQ $57.56; SEPQ $25.95
52W range

ETF.net Grade

Pillar letters and Scores for JEPQ, SEPQ, with each pillar’s weight
Pillar	JEPQ	SEPQ
Cost30% weight	A82Higher	B60
Mission25% weight	A100	Not scored
Risk15% weight	B69Higher	B67
Tradability15% weight	A76Higher	D33
Holdings10% weight	C47	B59Higher
Durability5% weight	A91Higher	C50

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. JEPQ and SEPQ 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 SEPQ 15th 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 15BHEQQJPMorgan Nasdaq Hedged Equity Laddered Overlay ETFScore 55
Rank 15BSEPQSTF Tactical Growth & Income ETFScore 55
Rank 17CXQQINEOS Boosted Nasdaq-100 High Income ETFScore 53

Our read on each fund

ETF.net Research

JEPQAJPMorgan Nasdaq Equity Premium Income ETF

SEPQBSTF Tactical Growth & 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.

SEPQ No data

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.

SEPQ No data

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

SEPQ No data

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

SEPQ No data

Full JEPQ profile⁠

Full SEPQ profile⁠

JEPQ vs SEPQ Holdings

How JEPQ and SEPQ differ

Overlap by weight

68.5%

Shared holdings make up 86.8% of SEPQ and 74.9% of JEPQ.

Level by level

Holdings68 in both68.5%
Countryby domicile99.2%
Asset classEquity100%

Sector

No Sector split for SEPQ.

Country, concentration and asset class

Country by domicile

Country weights in JEPQ and SEPQ, widest gap first
Country	More in JEPQMore in SEPQ	JEPQ	SEPQ
United States	JEPQ +0.5 points	97.6%	97.1%
Other countries (5)	SEPQ +0.5 points	2.4%	2.9%

Concentration

Weight in the 10 largest Holdings

JEPQ42.3%
SEPQ48.1%

Securities held

JEPQ110
SEPQ96

Asset class

JEPQ: Equity
SEPQ: Equity

Holdings

Only in JEPQ42
In both68
Only in SEPQ28

Only in JEPQ

42 securities, 25.0% of JEPQ by weight

Space Exploration1.55%
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%
Sandisk Corp Common0.46%
Teradyne Inc Common Stock0.43%
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%
Arm Holdings PLC Adr USD0.22%
Bristol-Myers Squibb Co0.22%
The Coca-Cola Company0.22%
Thermo Fisher Scientific0.22%
Corpay Inc0.19%
Chipotle Mexican Grill0.18%
Nebius Group NV Common0.18%
Moderna Inc Common Stock0.16%
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%
Astera Labs Inc Common0.05%

Only in SEPQ

28 securities, 9.2% of SEPQ by weight

Alphabet Inc2.77%
Automatic Data Processing Inc0.56%
Fortinet Inc0.52%
Cadence Design Systems Inc0.47%
Cintas Corp0.44%
American Electric Power Co Inc0.33%
Fastenal Co0.30%
Baker Hughes Co0.27%
PACCAR Inc0.26%
Autodesk Inc0.25%
Coca-Cola Europacific Partners PLC0.24%
Roper Technologies Inc0.23%
Exelon Corp0.22%
Keurig Dr Pepper Inc0.22%
Ferrovial NV0.22%
IDEXX Laboratories Inc0.21%
Zscaler Inc0.20%
Paychex Inc0.19%
Old Dominion Freight Line Inc0.18%
GE HealthCare Technologies Inc0.17%
Axon Enterprise Inc0.17%
Atlassian Corp0.15%
Cognizant Technology Solutions Corp0.15%
Kraft Heinz Co/The0.14%
Verisk Analytics Inc0.13%
Insmed Inc0.12%
Charter Communications Inc0.07%
CoStar Group Inc0.06%

Weight gaps

All 68 Holdings in both funds, largest gap first.

Holding weights in JEPQ and SEPQ, widest gap first
Holding	More in JEPQMore in SEPQ	JEPQ	SEPQ
Apple Inc Common StockAAPL	SEPQ +1.66 points	6.99%	8.65%
Alphabet Inc-Cl C -GOOG	JEPQ +1.53 points	4.08%	2.55%
Microsoft Corp CommonMSFT	SEPQ +1.03 points	5.60%	6.63%
Kla Corp Common Stock USDKLAC	SEPQ +0.99 points	0.12%	1.11%
Intel Corp Common StockINTC	SEPQ +0.98 points	0.82%	1.80%
Applied Materials IncAMAT	SEPQ +0.95 points	0.75%	1.70%
Costco Wholesale CorpCOST	SEPQ +0.95 points	1.28%	2.23%
Cisco Systems Inc CommonCSCO	SEPQ +0.94 points	1.18%	2.12%
Tesla Inc Common StockTSLA	SEPQ +0.87 points	2.40%	3.27%
Walmart Inc Common StockWMT	SEPQ +0.83 points	2.00%	2.83%
Gilead Sciences IncGILD	SEPQ +0.83 points	0.15%	0.98%
Analog Devices IncADI	JEPQ +0.73 points	1.19%	0.46%
Amgen Inc Common StockAMGN	SEPQ +0.71 points	0.47%	1.18%
Meta Platforms Inc CommonMETA	SEPQ +0.70 points	2.67%	3.37%
Netflix Inc Common StockNFLX	JEPQ +0.61 points	1.10%	0.49%
Texas Instruments IncTXN	JEPQ +0.58 points	0.89%	0.31%
Seagate TechnologySTX	JEPQ +0.50 points	1.27%	0.77%
Broadcom Inc CommonAVGO	SEPQ +0.51 points	1.91%	2.42%
Qualcomm Inc Common StockQCOM	SEPQ +0.46 points	0.53%	0.99%
Shopify Inc Common StockSHOP	SEPQ +0.44 points	0.58%	1.02%
Marvell Technology IncMRVL	JEPQ +0.43 points	0.91%	0.48%
Linde PLC Common StockLIN	SEPQ +0.40 points	0.75%	1.15%
Western Digital CorpWDC	SEPQ +0.39 points	0.30%	0.69%
Amazon.com Inc CommonAMZN	SEPQ +0.38 points	3.80%	4.17%
Constellation EnergyCEG	SEPQ +0.36 points	0.05%	0.41%
Advanced Micro DevicesAMD	SEPQ +0.32 points	3.45%	3.77%
T-Mobile Us Inc CommonTMUS	SEPQ +0.33 points	0.51%	0.84%
Datadog Inc Common StockDDOG	SEPQ +0.29 points	0.13%	0.42%
Starbucks Corp CommonSBUX	SEPQ +0.29 points	0.28%	0.57%
Crowdstrike Holdings IncCRWD	SEPQ +0.25 points	1.06%	1.31%
Intuit Inc Common StockINTU	JEPQ +0.25 points	0.47%	0.22%
Adobe Inc Common StockADBE	SEPQ +0.24 points	0.28%	0.52%
Asml Holding NV Ny RegASML	JEPQ +0.24 points	0.91%	0.67%
Airbnb Inc Common StockABNB	SEPQ +0.23 points	0.10%	0.33%
Pepsico Inc Common StockPEP	SEPQ +0.22 points	0.70%	0.92%
Csx Corp Common Stock USDCSX	JEPQ +0.22 points	0.68%	0.46%
Pdd Holdings Inc Adr USDPDD	SEPQ +0.21 points	0.06%	0.27%
NVIDIA Corp Common StockNVDA	SEPQ +0.20 points	6.99%	7.19%
Regeneron PharmaceuticalsREGN	JEPQ +0.20 points	0.60%	0.40%
Nxp Semiconductors NVNXPI	JEPQ +0.18 points	0.52%	0.34%
PayPal Holdings IncPYPL	SEPQ +0.16 points	0.11%	0.27%
Applovin Corp CommonAPP	SEPQ +0.15 points	0.24%	0.39%
Palantir Technologies IncPLTR	JEPQ +0.16 points	1.31%	1.15%
Marriott InternationalMAR	SEPQ +0.15 points	0.36%	0.51%
Doordash Inc CommonDASH	SEPQ +0.15 points	0.21%	0.36%
Ross Stores Inc CommonROST	SEPQ +0.13 points	0.23%	0.36%
Intuitive Surgical IncISRG	SEPQ +0.11 points	0.68%	0.79%
Workday Inc Common StockWDAY	SEPQ +0.11 points	0.09%	0.20%
Mondelez InternationalMDLZ	JEPQ +0.11 points	0.50%	0.39%
O'reilly Automotive IncORLY	JEPQ +0.10 points	0.45%	0.35%
Monster Beverage CorpMNST	JEPQ +0.10 points	0.53%	0.43%
Honeywell Aerospace IncHONA	SEPQ +0.08 points	0.16%	0.24%
Strategy Inc Common StockMSTR	SEPQ +0.09 points	0.05%	0.14%
Synopsys Inc CommonSNPS	JEPQ +0.08 points	0.54%	0.46%
Copart Inc Common StockCPRT	JEPQ +0.07 points	0.21%	0.14%
Xcel Energy Inc CommonXEL	JEPQ +0.07 points	0.29%	0.23%
Booking Holdings IncBKNG	SEPQ +0.06 points	0.55%	0.61%
Diamondback Energy IncFANG	JEPQ +0.05 points	0.35%	0.30%
Take-Two InteractiveTTWO	JEPQ +0.05 points	0.22%	0.17%
Mercadolibre Inc CommonMELI	SEPQ +0.04 points	0.35%	0.39%
Dexcom Inc Common StockDXCM	JEPQ +0.04 points	0.19%	0.15%
Palo Alto Networks IncPANW	JEPQ +0.04 points	1.33%	1.29%
Lam Research Corp CommonLRCX	JEPQ +0.04 points	1.63%	1.59%
Micron Technology IncMU	JEPQ +0.03 points	4.32%	4.29%
Honeywell InternationalHON	SEPQ +0.03 points	0.31%	0.34%
Comcast Corp CommonCMCSA	SEPQ +0.02 points	0.39%	0.41%
Vertex PharmaceuticalsVRTX	JEPQ +0.01 points	0.69%	0.68%
Alnylam PharmaceuticalsALNY	Same weight	0.12%	0.12%

All 110 JEPQ holdings⁠All 101 SEPQ 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 SEPQ Cost

Overpaying SEPQ vs JEPQ

$5,591

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

JEPQ 0.35%
$7,126
SEPQ 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

JEPQ 0.35%
SEPQ 0.65%
Overpaying

Year by year

Year	JEPQ	SEPQ	Overpaying
10	$634	$1,163	$529
20	$2,454	$4,440	$1,986
30	$7,126	$12,717	$5,591

Expense ratio

0.35%JEPQ, cheaper
0.65%SEPQ

JEPQ0.35%SEPQ0.65%

0.00%1.20%

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

JEPQ 4th cheapest of 30 funds

SEPQ 12th cheapest of 30 funds

JEPQ vs SEPQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JEPQ 11.96%; SEPQ 12.02%, better
Payout (12M): JEPQ $6.88; SEPQ $3.13
Last payment: JEPQ $0.57; SEPQ $0.27
Ex-dividend: JEPQ Oct 1, 2026; SEPQ Oct 22, 2026
Paid on: JEPQ Oct 5, 2026; SEPQ Oct 23, 2026
Frequency: JEPQ Monthly; SEPQ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JEPQMonthly · 45 paymentsAll JEPQ payments⁠

SEPQMonthly · 46 paymentsAll SEPQ payments⁠

JEPQ vs SEPQ 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%SEPQ No data
Return per unit of riskSharpe ratio, 3 years: JEPQ 1.24SEPQ No data
Worst fallMax drawdown, 5 years: JEPQ −20.1%since May 2022SEPQ No data
Market sensitivityBeta, 5 years: JEPQ 0.83SEPQ 0.81; Market = 1

JEPQ and SEPQ 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 SEPQ

In short

Stated mandate

Why people hold it

Worth knowing

How JEPQ and SEPQ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in JEPQ

Only in SEPQ

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

How JEPQ trades Nasdaq-100 upside for monthly income. Here's how.

Franklin Templeton files two PayDay ETFs that would pay every two weeks

Aptus files the Aptus Nasdaq-100 Enhanced Yield ETF, JUCQ, targeting distributions of 5% to 12%

JPMorgan Equity Premium Income ETF paid $0.34 a share, and the 8% yield is not a promise

Motley Fool files five Fool 100 ETFs, three for options income

Even counting the checks, JPMorgan's income funds trailed the stock funds