Data as of Sep 4, 2026. Both funds on the fields they both publish, from the same sources.
JEPI vs SPY
JPMorgan Equity Premium Income ETF and SPDR S&P 500 ETF Trust.
What they hold in common
By the books each fund has filed, JEPI and SPY hold 33% of their money in the same securities at the same weight.
| Holding | JEPI | SPY |
|---|---|---|
| Apple, Inc. | 1.53% | 6.59% |
| NVIDIA Corp. | 1.53% | 7.52% |
| Alphabet, Inc. | 1.52% | 3.25% |
| Amazon.com, Inc. | 1.48% | 3.62% |
| Broadcom, Inc. | 1.33% | 2.77% |
| Microsoft Corp. | 1.30% | 4.30% |
| Meta Platforms, Inc. | 1.22% | 1.92% |
| Eli Lilly & Co. | 1.05% | 1.47% |
| Johnson & Johnson | 1.68% | 0.95% |
| Visa, Inc. | 1.42% | 0.88% |
| Lam Research Corp. | 1.57% | 0.84% |
| Walmart, Inc. | 0.92% | 0.77% |
| Only in JEPI | Only in SPY |
|---|---|
| BNP Paribas Issuance BV 0.97% | Alphabet, Inc. 2.59% |
| BNP Paribas Issuance BV 0.96% | Micron Technology, Inc. 2.02% |
| Barclays Bank plc 0.95% | Tesla, Inc. 1.84% |
| National Bank of Canada 0.95% | JPMorgan Chase & Co. 1.36% |
| BNP Paribas Issuance BV 0.94% | Intel Corp. 1.02% |
| Citigroup Global Markets Holdings, Inc. 0.94% | Applied Materials, Inc. 0.89% |
| BofA Finance LLC 0.93% | Caterpillar, Inc. 0.76% |
| Royal Bank of Canada 0.92% | Cisco Systems, Inc. 0.72% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for Jun 30, 2026.
| JEPI JPMorgan Equity Premium Income ETF | SPY SPDR S&P 500 ETF Trust | |
|---|---|---|
| Where it sits | Income desk | Core fund |
| Issuer | JPMorgan | State Street |
| What it is | covered call, vs SPY | S&P 500, book from IVV |
| Total return, 1 year | +9.2% | +20.0% |
| S&P 500 over the same days | +20.0% | +20.0% |
| Gap to the S&P 500 | −10.7 pts | +0.0 pts |
| Cash paid, 1 year | 8.1% | not an income fund |
| Expense ratio | 0.35% | not published |
| Holdings | n/a | 504 |
JEPI in plain words
Over the year to Sep 4, 2026, JEPI paid 8.1% of its starting value in cash distributions while its price rose 0.8%. With every distribution reinvested, the fund returned +9.2%. S&P 500 (SPY) returned +20.0% over the same days, so a holder was behind by 10.7 pts. At its price on Sep 4, 2026 the latest distribution annualises to 7.8%, paid monthly.
SPY in plain words
SPY is a index equity fund tracking S&P 500, book from IVV. Over the year to Sep 4, 2026 it returned +20.0% with distributions reinvested, against +20.0% for the S&P 500 and +25.6% for the Nasdaq-100. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 36.4%.
Questions people ask
- Which returned more over the last year, JEPI or SPY?
- In the year to Sep 4, 2026, with distributions reinvested, JEPI returned +9.2% and SPY returned +20.0%, so SPY returned more. One year is one year; the longer windows are in the table.
- Are JEPI and SPY the same kind of fund?
- No. JEPI is an option-income ETF and SPY is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, JEPI against SPY, data as of Sep 4, 2026. https://etfiq.com/compare/any/JEPI-SPY.html Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources