Data as of Oct 27, 2026.
JEPI vs QQQ: Differences, Returns & Fees
Over the year to Oct 27, 2026, JEPI returned +7.6% to QQQ's +15.4%, and QQQ charges 0.18% to JEPI's 0.35%.
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Net assets on Oct 26, 2026: $45.8bn for JPMorgan Equity Premium Income ETF and $476.7bn for Invesco QQQ Trust, Series 1.
Pair scorecard
QQQ costs 0.17 points a year less; their one-year returns differ by 7.8 points; QQQ is 10.4 times larger.
| Measure | JEPI | QQQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.6% | +15.4% |
| Price change, 1 year | fell 0.6% | rose 14.8% |
| Latest payout, annualized | 7.2% | |
| Drawdown | ||
| Below its high | 5.1%, high on Oct 6, 2026 | |
| Against its benchmark | ||
| What it tracks | Benchmark: S&P 500, measured through SPY | Nasdaq-100 Index |
| Against its benchmark, same days | behind by 5.9 pts | |
| Cost and size | ||
| Expense ratio | 0.35% | 0.18% |
| Net assets, as of Oct 26, 2026 | $45.8bn | $476.7bn |
| Holdings | ||
| Holdings in common | 26% | |
| In the S&P 500, by weight | 96% | |
| Top ten holdings, share of the fund | 46.6% | |
Holdings in common uses holdings dated Oct 26, 2026. Method
Risk and return
May 29, 2020 to Oct 23, 2026 · 334 weekly returnsEach against its own benchmark: JEPI against SPY, May 29, 2020 to Oct 23, 2026; QQQ against QQQM, Oct 23, 2020 to Oct 23, 2026.
QQQ returned more: +213.6% to +91.1%. JEPI swung less: 10.5% to 21.1%. JEPI fell less at its worst: −13.1% to −35.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | JEPI | QQQ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +91.1% | +213.6% | QQQ | Price change plus distributions, reinvested. |
| Annualized | +10.6% | +19.5% | QQQ | Total return as a yearly rate. |
| Price return | +11.0% | +201.9% | QQQ | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 10.5% | 21.1% | JEPI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.1% | 13.5% | JEPI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −13.1% | −35.1% | JEPI | Deepest fall from a high to the low after it. |
| Upside capture | 42.2% | 100.4% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 59.6% | 100.2% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.57 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.75 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.72 | 0.81 | QQQ | Return above Treasury bills per unit of volatility. |
| Sortino | 1.06 | 1.25 | QQQ | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.133 | 0.145 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.81 | 0.56 | JEPI | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | QQQM | The ETF each fund is measured against. | |
| Alpha | −0.3% a year | −0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.15 | −0.58 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −4.4% to +3.8% | −0.4% to +0.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.73 | −0.10 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 8.7% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 334 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, JEPI and QQQ hold 26% of their money in the same securities at the same weight. Holdings dated Oct 26, 2026.
half
26% in common
Only in one fund ↓
Side by side
JEPI and QQQ on the fields both publish, as of Oct 27, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price.
JEPI and QQQ do different jobs. What does each one do in a portfolio?
- What each follows. JEPI is measured against S&P 500 through SPY and QQQ follows Nasdaq-100 Index.
- Holdings in common. 26% of the weight is in the same securities (holdings dated Oct 26, 2026).
- One-year total return. Over 1 year to Oct 27, 2026 JEPI returned +7.6% and QQQ +15.4% with distributions reinvested, a gap of 7.8 points.
Data as of Oct 27, 2026.
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JEPI
Over the year to Oct 27, 2026, JEPI paid 7.9% of its starting value in cash distributions while its price fell 0.6%. With every distribution reinvested, the fund returned +7.6%. S&P 500 (SPY) returned +13.5% over the same days, so a holder was behind by 5.9 pts. At its price on Oct 27, 2026 the latest distribution annualizes to 7.2%, paid monthly.
QQQ
QQQ tracks the Nasdaq-100. Over the year to Oct 27, 2026 it returned +15.4% with distributions reinvested, against +15.4% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 26, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 103 positions, with the top ten at 46.6%. It sat 5.1% below its high of Oct 6, 2026 on Oct 27, 2026.
Questions people ask
- Are JEPI and QQQ in the same category?
- JEPI is an option-income ETF and QQQ is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, JEPI or QQQ?
- In the year to Oct 27, 2026, with distributions reinvested, JEPI returned +7.6% and QQQ +15.4%.
- Which is cheaper, JEPI or QQQ?
- QQQ is cheaper, by 0.17 percentage points a year. That is about $17 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, JEPI against QQQ, data as of Oct 27, 2026. https://etfiq.com/compare/any/jepi-vs-qqq
ETFIQ. (Oct 27, 2026). JEPI against QQQ. Retrieved from https://etfiq.com/compare/any/jepi-vs-qqq
[JEPI against QQQ (ETFIQ, Oct 27, 2026)](https://etfiq.com/compare/any/jepi-vs-qqq)
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