JEPQ vs SPYI: Yield, Cost and Returns Compared
As of Nov 7, 2026, SPYI yields more: 12.33% (dividend yield) against 11.80% for JEPQ. JEPQ is cheaper to own at 0.35% a year vs 0.68%. Over the same 4 years (Aug 2022 to Oct 2026), JEPQ returned 18.0% a year with distributions reinvested, and SPYI 14.8%.
JEPQJPMorgan Nasdaq Equity Premium Income ETF11.80%dividend yield
SPYINeos S&P 500(R) High Income ETF12.33%dividend yield| Compared | JEPQ | SPYI |
|---|---|---|
| YieldDividend yield | 11.80% | 12.33% |
| Expense ratio | 0.35% | 0.68% |
| Total return, 1 yr | +9.5% | +11.9% |
| Total return, 3 yr (a year) | +20.0% | +18.0% |
| Worst drop since Aug 2022 | -8.9% | -7.8% |
| Share price since Aug 2022 | +25% | +7% |
| Pays | Monthly | Monthly |
| Issuer | JPMorgan | Neos |
| Assets | $42.5B | $12.5B |
| Started | 2022 | 2022 |
| Type | Derivative Income | Derivative Income |
Higher yield
SPYI
12.33%
Lower cost
JEPQ
0.35%
Better total return
JEPQ
18.0%/yr
Smaller worst drop
SPYI
-7.8%
Key facts: JEPQ vs SPYI
Data as of · Source: SmarterDividends data
- As of Nov 7, 2026, JEPQ yields 11.80% (dividend yield) and SPYI yields 12.33% (dividend yield).
- JEPQ'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 JEPQ grew to $19,958 (18.0% a year) and $10,000 in SPYI to $17,743 (14.8% a year), distributions reinvested.
- Their worst month-end drops over that time: -8.9% for JEPQ and -7.8% for SPYI.
- 7 of JEPQ's top ten holdings are also in SPYI's top ten, an overlap of at least 29% of the fund.
Cite this page
SmarterDividends, "JEPQ vs SPYI: Yield, Cost and Returns Compared," updated Nov 7, 2026, https://smarterdividends.com/compare/jepq-vs-spyi
$10,000 in each, Aug 2022 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
JEPQ became
$19,958
18.0% a year
SPYI became
$17,743
14.8% a year
Year by year
| Year | JEPQ | SPYI |
|---|---|---|
| 2025 | +15.2% | +16.7% |
| 2024 | +24.8% | +19.0% |
| 2023 | +36.3% | +18.1% |
Total return each calendar year, distributions reinvested.
Top holdings
7 of the top ten overlap, at least 29% of each fund.
JEPQ
- AAPL Apple Inc7.0%
- NVDA NVIDIA Corp7.0%
- MSFT Microsoft Corp5.6%
- MU Micron Technology Inc4.3%
- GOOG Alphabet Inc Class C4.1%
- AMZN Amazon.com Inc3.8%
- AMD Advanced Micro Devices Inc3.4%
- META Meta Platforms Inc Class A2.7%
- TSLA Tesla Inc2.4%
- WMT Walmart Inc2.0%
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%
JEPQ vs SPYI: questions
Is JEPQ or SPYI better?
It depends on the job. SPYI pays more today (12.33% vs 11.80%), JEPQ costs less, and JEPQ has the better total return over Aug 2022 to Oct 2026, with SPYI 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, JEPQ or SPYI?
SPYI, at 12.33% against 11.80% for JEPQ as of Nov 7, 2026. On $10,000 that's about $1,233 vs $1,180 a year at today's rates.
Which has the better total return?
JEPQ. From Aug 2022 to Oct 2026, it returned 18.0% a year with distributions reinvested, against 14.8% for SPYI. $10,000 became $19,958 vs $17,743.
Which is cheaper, JEPQ or SPYI?
JEPQ, with a 0.35% expense ratio against 0.68%.
Do JEPQ and SPYI hold the same things?
Partly. 7 of their top ten holdings match (AAPL, NVDA, MSFT, AMZN), at least 29% 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. For information only, not investment advice. Last fund data: Nov 7, 2026.