JEPI vs SPYI: Yield, Cost and Returns Compared
As of Nov 7, 2026, SPYI yields more: 12.33% (dividend yield) against 7.47% for JEPI. JEPI is cheaper to own at 0.35% a year vs 0.68%. Over the same 4 years (Aug 2022 to Oct 2026), SPYI returned 14.8% a year with distributions reinvested, and JEPI 9.9%.
JEPIJPMorgan Equity Premium Income ETF7.47%dividend yield
SPYINeos S&P 500(R) High Income ETF12.33%dividend yield| Compared | JEPI | SPYI |
|---|---|---|
| YieldDividend yield | 7.47% | 12.33% |
| Expense ratio | 0.35% | 0.68% |
| Total return, 1 yr | +9.6% | +11.9% |
| Total return, 3 yr (a year) | +11.5% | +18.0% |
| Total return, 5 yr (a year) | +7.4% | — |
| Worst drop since Aug 2022 | -6.3% | -7.8% |
| Share price since Aug 2022 | +4% | +7% |
| Pays | Monthly | Monthly |
| Issuer | JPMorgan | Neos |
| Assets | $46.2B | $12.5B |
| Started | 2020 | 2022 |
| Type | Derivative Income | Derivative Income |
Higher yield
SPYI
12.33%
Lower cost
JEPI
0.35%
Better total return
SPYI
14.8%/yr
Smaller worst drop
JEPI
-6.3%
Key facts: JEPI vs SPYI
Data as of · Source: SmarterDividends data
- As of Nov 7, 2026, JEPI yields 7.47% (dividend yield) and SPYI yields 12.33% (dividend yield).
- JEPI's expense ratio is 0.35% and SPYI's is 0.68%: $35 vs $68 a year on $10,000.
- From Aug 2022 to Oct 2026, $10,000 in JEPI grew to $14,821 (9.9% a year) and $10,000 in SPYI to $17,743 (14.8% a year), distributions reinvested.
- Their worst month-end drops over that time: -6.3% for JEPI and -7.8% for SPYI.
- 2 of JEPI's top ten holdings are also in SPYI's top ten, an overlap of at least 4% of the fund.
Cite this page
SmarterDividends, "JEPI vs SPYI: Yield, Cost and Returns Compared," updated Nov 7, 2026, https://smarterdividends.com/compare/jepi-vs-spyi
$10,000 in each, Aug 2022 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
JEPI became
$14,821
9.9% a year
SPYI became
$17,743
14.8% a year
Year by year
| Year | JEPI | SPYI |
|---|---|---|
| 2025 | +8.1% | +16.7% |
| 2024 | +12.6% | +19.0% |
| 2023 | +9.8% | +18.1% |
Total return each calendar year, distributions reinvested.
Top holdings
2 of the top ten overlap, at least 4% of each fund.
JEPI
- MA Mastercard Inc Class A2.0%
- AAPL Apple Inc1.9%
- MSFT Microsoft Corp1.9%
- V Visa Inc Class A1.9%
- NEE NextEra Energy Inc1.8%
- JNJ Johnson & Johnson1.8%
- EOG EOG Resources Inc1.8%
- MMM 3M Co1.8%
- JIMXX JPMorgan Prime Money Market IM1.8%
- ABBV AbbVie Inc1.8%
SPYI
- AAPL Apple Inc7.7%
- NVDA NVIDIA Corp7.6%
- MSFT Microsoft Corp5.9%
- AMZN Amazon.com Inc3.6%
- GOOGL Alphabet Inc Class A2.5%
- AVGO Broadcom Inc2.4%
- META Meta Platforms Inc Class A2.0%
- GOOG Alphabet Inc Class C2.0%
- LLY Eli Lilly and Co1.7%
- TSLA Tesla Inc1.7%
JEPI vs SPYI: questions
Is JEPI or SPYI better?
It depends on the job. SPYI pays more today (12.33% vs 7.47%), JEPI costs less, and SPYI has the better total return over Aug 2022 to Oct 2026, with JEPI holding up better in its worst stretch. For income, look at yield and whether the payouts hold up; for growth, total return and drawdowns.
Which pays a higher dividend, JEPI or SPYI?
SPYI, at 12.33% against 7.47% for JEPI as of Nov 7, 2026. On $10,000 that's about $1,233 vs $747 a year at today's rates.
Which has the better total return?
SPYI. From Aug 2022 to Oct 2026, it returned 14.8% a year with distributions reinvested, against 9.9% for JEPI. $10,000 became $17,743 vs $14,821.
Which is cheaper, JEPI or SPYI?
JEPI, with a 0.35% expense ratio against 0.68%.
Do JEPI and SPYI hold the same things?
Partly. 2 of their top ten holdings match (AAPL, MSFT), at least 4% of each fund. Owning both doubles up on those.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. SPYI leads on 4 of 6 measures above. For information only, not investment advice. Last fund data: Nov 7, 2026.