JEPQ vs XQQI

JEPQAJPMorgan Nasdaq Equity Premium Income ETF

XQQICNEOS Boosted Nasdaq-100 High 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.

XQQI Take the NEOS Nasdaq-100 covered-call recipe and turn the exposure dial to roughly 150% of notional. Same index-option income machinery as the plain version, with leverage amplifying both the premium collected and the drawdowns.

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.

XQQI The Fund seeks to boost performance by generating high monthly income in a tax-efficient manner, with potential for enhanced equity appreciation in rising markets.

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

• XQQI Mechanically simple boost: bought index calls plus sold index puts lift long exposure to about 150% of notional, and the NDX call overlay then writes premium on that larger base.neosfunds.com
• Distributions are paid monthly, and the NDX index options it writes are Section 1256 contracts taxed at blended 60/40 rates, with opportunistic tax loss harvesting on top.neosfunds.com
• The leverage is built from listed index options rather than a swap counterparty, inside a plain 1940 Act ETF wrapper with the usual prospectus and holdings disclosure.neosfunds.comneosfunds.com 2
• It leans on an established franchise: NEOS built the boosted suite on the options framework already running in its largest Nasdaq-100, S&P 500 and bitcoin income funds.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

• XQQI At 0.98% a year it costs more than the typical Nasdaq-100 income fund, where the median is 0.68%, also the fee on the unlevered sibling QQQI.
• Leverage cuts both ways: roughly 150% exposure magnifies Nasdaq-100 declines, while the sold calls hand back part of a strong rally.neosfunds.comneosfunds.com 2
• It launched in 2026, so the record is short, and payouts have been classified as return of capital, which can reduce net asset value over time.neosfunds.com

Full JEPQ profile⁠

Full XQQI profile⁠