JEPQ vs YMAX: Yield, Cost and Returns Compared
As of Nov 7, 2026, YMAX yields more: 62.53% (dividend yield) against 11.80% for JEPQ. JEPQ is cheaper to own at 0.35% a year vs 1.33%. Over the same 2 years (Jan 2024 to Oct 2026), JEPQ returned 16.2% a year with distributions reinvested, and YMAX 10.8%.
JEPQJPMorgan Nasdaq Equity Premium Income ETF11.80%dividend yield
YMAXYieldMax Universe Fund of Option Income ETFs62.53%dividend yield| Compared | JEPQ | YMAX |
|---|---|---|
| YieldDividend yield | 11.80% | 62.53% |
| Expense ratio | 0.35% | 1.33% |
| Total return, 1 yr | +9.5% | −7.7% |
| Total return, 3 yr (a year) | +20.0% | — |
| Worst drop since Jan 2024 | -8.4% | -21.0% |
| Share price since Jan 2024 | +12% | −66% |
| Pays | Monthly | Weekly |
| Issuer | JPMorgan | YieldMax |
| Assets | $42.5B | $336.0M |
| Started | 2022 | 2024 |
| Type | Derivative Income | Derivative Income |
Higher yield
YMAX
62.53%
Lower cost
JEPQ
0.35%
Better total return
JEPQ
16.2%/yr
Smaller worst drop
JEPQ
-8.4%
Key facts: JEPQ vs YMAX
Data as of · Source: SmarterDividends data
- As of Nov 7, 2026, JEPQ yields 11.80% (dividend yield) and YMAX yields 62.53% (dividend yield).
- JEPQ's expense ratio is 0.35% and YMAX's is 1.33%: $35 vs $133 a year on $10,000.
- From Jan 2024 to Oct 2026, $10,000 in JEPQ grew to $15,122 (16.2% a year) and $10,000 in YMAX to $13,243 (10.8% a year), distributions reinvested.
- Their worst month-end drops over that time: -8.4% for JEPQ and -21.0% for YMAX.
- 0 of JEPQ's top ten holdings are also in YMAX's top ten.
Cite this page
SmarterDividends, "JEPQ vs YMAX: Yield, Cost and Returns Compared," updated Nov 7, 2026, https://smarterdividends.com/compare/jepq-vs-ymax
$10,000 in each, Jan 2024 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
JEPQ became
$15,122
16.2% a year
YMAX became
$13,243
10.8% a year
Top holdings
No overlap in the top ten.
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%
YMAX
- MRNY YieldMax MRNA Option Income Strategy ETF5.2%
- PLTY YieldMax PLTR Option Income Strategy ETF5.0%
- AMDY YieldMax AMD Option Income Strategy ETF4.8%
- AIYY YieldMax AI Option Income Strategy ETF4.8%
- MSFO YieldMax MSFT Option Income Strategy ETF4.7%
- FBY YieldMax META Option Income Strategy ETF4.6%
- XOMO YieldMax XOM Option Income Strategy ETF4.5%
- YBIT YieldMax Bitcoin Option Inc Strat ETF4.3%
- SNOY YieldMax SNOW Option Income Strategy ETF4.3%
- APLY YieldMax AAPL Option Income Strategy ETF4.3%
JEPQ vs YMAX: questions
Is JEPQ or YMAX better?
It depends on the job. YMAX pays more today (62.53% vs 11.80%), JEPQ costs less, and JEPQ has the better total return over Jan 2024 to Oct 2026, with JEPQ 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 YMAX?
YMAX, at 62.53% against 11.80% for JEPQ as of Nov 7, 2026. On $10,000 that's about $6,253 vs $1,180 a year at today's rates.
Which has the better total return?
JEPQ. From Jan 2024 to Oct 2026, it returned 16.2% a year with distributions reinvested, against 10.8% for YMAX. $10,000 became $15,122 vs $13,243.
Which is cheaper, JEPQ or YMAX?
JEPQ, with a 0.35% expense ratio against 1.33%.
Do JEPQ and YMAX hold the same things?
Not at the top: none of their top ten holdings match.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. JEPQ leads on 4 of 5 measures above. For information only, not investment advice. Last fund data: Nov 7, 2026.