Two of the market's most popular income ETFs compared side-by-side. See which one fits your yield strategy.
What this means: Both JEPI and QYLD fall intoTier 4: Harvest. This suggests they share a similar risk profile and volatility expectation.
| Metric | JEPI | QYLD |
|---|---|---|
| Total Return (1Y) | 7.37% | 11.51% |
| NAV Change (1Y) | -1.38% | -0.50% |
| Max Drawdown | -14.35% | -20.58% |
| Beta | 0.65 | 0.78 |
* Returns include dividend reinvestment. Drawdown calculates peak-to-trough decline over trailing 12 months.
JEPI (JPMorgan Equity Premium Income) is a options-based income fund managed by JPMorgan. It tracks the S&P 500 index across approximately 130 positions. With $41.5B in assets under management, this fund has been operational since May 2020.
Strategy: Generates enhanced income through covered call options on equity holdings, trading upside potential for premium income.
QYLD (Global X Nasdaq 100 Covered Call) is a options-based income fund managed by GlobalX. It tracks the Nasdaq-100 index across approximately 103 positions. With $8.2B in assets under management, this fund has been operational since Dec 2013.
Strategy: Generates enhanced income through covered call options on equity holdings, trading upside potential for premium income.
In the head-to-head battle of JEPI vs QYLD, the choice depends on your specific goal. QYLD wins for Immediate Income with a 12.01% yield. However, QYLD is the better choice for Long-Term Growth due to superior total return performance.
Which fund is safer for retirement income? We analyze the yield sustainability and structural risk.
The Bottom Line Question: If you invest $100,000 today, how much cash will you actually receive each month? Here's the exact math:
JEPI
Annual Yield: 8.75%
$729/mo
($8,750/year)
Frequency: monthly
QYLD
Annual Yield: 12.01%
$1,001/mo
($12,007/year)
Frequency: monthly
Income Gap: QYLD generates $3,257/year more than JEPI on the same $100k investment.
Over 20 years, that's $65,135 in additional cash flow (before reinvestment).
Context Matters: Higher income doesn't always mean better investment. Review the "Yield Trap" and "Total Return" sections above—you want income that's sustainable, not just headline-grabbing.
Historical data reveals how these funds behave during market stress. QYLD has delivered a superior Total Return of 11.51% over the past year.
What is Max Drawdown? Max drawdown measures the largest peak-to-trough decline in portfolio value during a specific period. Unlike NAV change (which only looks at start vs. end), max drawdown captures the worst moment of pain an investor experienced.
Real-World Scenario: $100,000 Investment
JEPI (More Resilient)
Max Drawdown: -14.35%
-$14,350
Worst unrealized loss
QYLD (More Volatile)
Max Drawdown: -20.58%
-$20,580
Worst unrealized loss
Protection Value: JEPI saved investors $6,230 in drawdown severity on a $100k position.
Why This Matters More Than Total Return: During bear markets or corrections, investors with lower max drawdown are:
⚖️ Capital Preservation Winner: JEPI demonstrated superior downside protection, making it the better choice for retirees who cannot afford steep temporary losses.
What is Beta? Beta measures how much a fund moves relative to the broader market. A beta of 1.0 means it moves in lockstep with the market. Higher beta = more volatility = more risk.
JEPI EFFICIENCY SCORE
13.46%
Beta: 0.65 | Yield: 8.75%
QYLD EFFICIENCY SCORE
15.39%
Beta: 0.78 | Yield: 12.01%
Winner: QYLD generates 15.39% yield per unit of market risk, compared to JEPI's 13.46%.
Practical Application: For defensive portfolios (retirees, conservative investors), QYLD delivers more income per "unit of stress." This makes it the superior choice for sleep-well-at-night income generation.
What is an Expense Ratio? The annual fee charged by the fund, expressed as a percentage of assets. It's deducted daily from the fund's NAV, making it invisible to most investors—but it compounds over time.
JEPI (LOWER COST)
0.350%
Annual expense ratio
QYLD (HIGHER COST)
0.600%
Annual expense ratio
20-YEAR FEE IMPACT SIMULATION ($100,000 INITIAL INVESTMENT)
The Hidden Cost of "Just 0.25%": That seemingly small difference of 0.250% annually becomes $5,000 in lost wealth over 20 years. Factor in compound growth, and you're giving up ~$13,892 in potential portfolio value.
💡 Cost Efficiency Winner: JEPI is the clear winner for long-term buy-and-hold investors. Lower fees mean more capital compounds in YOUR account, not the fund manager's.
Every investor has a unique risk profile. Use our Portfolio Intelligence tool to see the impact of adding these ETFs to your holdings.