Data as of . Every figure is the income desk's own, on published data.
JEPI vs SPYI
What they hold in common
By the books each fund has filed, JEPI and SPYI hold 32% of their money in the same securities at the same weight.
| Holding | JEPI | SPYI |
|---|---|---|
| Apple, Inc. | 1.53% | 6.59% |
| NVIDIA Corp. | 1.53% | 7.57% |
| Alphabet, Inc. | 1.52% | 3.28% |
| Amazon.com, Inc. | 1.48% | 3.65% |
| Broadcom, Inc. | 1.33% | 2.80% |
| Microsoft Corp. | 1.30% | 4.32% |
| Meta Platforms, Inc. | 1.22% | 1.92% |
| Eli Lilly & Co. | 1.05% | 1.47% |
| Johnson & Johnson | 1.68% | 0.95% |
| Visa, Inc. | 1.42% | 0.90% |
| Lam Research Corp. | 1.57% | 0.84% |
| Walmart, Inc. | 0.92% | 0.77% |
| Only in JEPI | Only in SPYI |
|---|---|
| Eaton Corp. plc 1.64% | Alphabet Inc 2.61% |
| Trane Technologies plc 1.62% | Micron Technology Inc 1.99% |
| BNP Paribas Issuance BV 0.97% | Tesla Inc 1.85% |
| BNP Paribas Issuance BV 0.96% | JPMorgan Chase & Co 1.37% |
| National Bank of Canada 0.95% | Intel Corp 1.01% |
| Barclays Bank plc 0.95% | Applied Materials Inc 0.89% |
| BNP Paribas Issuance BV 0.94% | Caterpillar Inc 0.77% |
| Citigroup Global Markets Holdings, Inc. 0.94% | 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.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| JEPI | SPYI | JEPI | SPYI | JEPI | SPYI | |
| 3 months | +5.1% | +5.2% | 2.0% | 3.0% | +0.4 pts | +0.5 pts |
| 6 months | +2.7% | +11.8% | 4.1% | 6.2% | −12.4 pts | −3.3 pts |
| 1 year | +9.2% | +17.5% | 8.1% | 12.2% | −10.7 pts | −2.5 pts |
| 3 years | +31.9% | +56.8% | 24.6% | 37.3% | −46.0 pts | −21.2 pts |
| Since launch | +96.0% | +77.8% | 60.9% | 49.2% | −89.0 pts | −26.2 pts |
| JEPI JPMorgan Equity Premium Income ETF | SPYI NEOS S&P 500(R) High Income ETF | |
|---|---|---|
| Issuer | JPMorgan | NEOS |
| Strategy | covered call | covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualised | 7.8% | 12.1% |
| Expense ratio | 0.35% | 0.68% |
| Cash paid, 1 year | 8.1% | 12.2% |
| Price change, 1 year | +0.8% | +4.2% |
| Total return, 1 year | +9.2% | +17.5% |
| Benchmark return, 1 year | +20.0% | +20.0% |
| Ahead or behind | −10.7 pts | −2.5 pts |
| Return of capital, latest estimate | not published | 93% |
| Age | 2297 days | 1466 days |
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.
SPYI in plain words
Over the year to Sep 4, 2026, SPYI paid 12.2% of its starting value in cash distributions while its price rose 4.2%. With every distribution reinvested, the fund returned +17.5%. S&P 500 (SPY) returned +20.0% over the same days, so a holder was behind by 2.5 pts. At its price on Sep 4, 2026 the latest distribution annualises to 12.1%, paid monthly. NEOS estimates that 93% of the distribution paid Jun 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterisation rather than a measure of erosion).
Questions people ask
- Which paid more, JEPI or SPYI?
- Over the year to Sep 4, 2026, JEPI paid 8.1% of its starting price in cash and SPYI paid 12.2%, so SPYI paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, JEPI or SPYI?
- With every distribution reinvested, JEPI returned +9.2% and SPYI returned +17.5% over the year to Sep 4, 2026, so SPYI returned more.
- Which is cheaper, JEPI or SPYI?
- JEPI charges 0.35% a year and SPYI charges 0.68%, so JEPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
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 SPYI, data as of Sep 4, 2026. https://etfiq.com/compare/income/JEPI-SPYI.html Free to use with attribution; the underlying files are at Open data.