Data as of . Every figure is the income desk's own, on published data.
JEPI vs ULTY
What they hold in common
By the books each fund has filed, JEPI and ULTY hold 8% of their money in the same securities at the same weight.
| Holding | JEPI | ULTY |
|---|---|---|
| Lam Research Corp. | 1.57% | 4.99% |
| NVIDIA Corp. | 1.53% | 4.80% |
| Alphabet, Inc. | 1.52% | 5.66% |
| Amazon.com, Inc. | 1.48% | 5.16% |
| Analog Devices, Inc. | 1.11% | 5.47% |
| Advanced Micro Devices, Inc. | 0.47% | 4.15% |
| Fortinet, Inc. | 0.23% | 3.56% |
| Only in JEPI | Only in ULTY |
|---|---|
| AbbVie, Inc. 1.74% | Ciena Corp 4.95% |
| Howmet Aerospace, Inc. 1.70% | Quanta Services Inc 4.95% |
| Johnson & Johnson 1.68% | Lumentum Holdings Inc 4.86% |
| Eaton Corp. plc 1.64% | IREN Ltd 4.80% |
| Trane Technologies plc 1.62% | Strategy Inc 4.65% |
| Apple, Inc. 1.53% | Astera Labs Inc 4.56% |
| Ross Stores, Inc. 1.52% | Coherent Corp 4.50% |
| NextEra Energy, Inc. 1.50% | Palantir Technologies Inc 4.40% |
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 Apr 30, 2026 and Jun 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| JEPI | ULTY | JEPI | ULTY | JEPI | ULTY | |
| 3 months | +5.1% | +2.9% | 2.0% | 14.5% | +0.4 pts | −1.8 pts |
| 6 months | +2.7% | +12.9% | 4.1% | 29.9% | −12.4 pts | −2.3 pts |
| 1 year | +9.2% | −2.9% | 8.1% | 48.3% | −10.7 pts | −22.8 pts |
| 3 years | +31.9% | n/a | 24.6% | n/a | −46.0 pts | n/a |
| Since launch | +96.0% | +10.0% | 60.9% | 86.5% | −89.0 pts | −46.2 pts |
| JEPI JPMorgan Equity Premium Income ETF | ULTY YieldMax(R) Ultra Option Income Strategy ETF | |
|---|---|---|
| Issuer | JPMorgan | YieldMax |
| Strategy | covered call | synthetic covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY), used as a default proxy |
| Pays | monthly | weekly |
| Payout rate, annualised | 7.8% | 60.4% |
| Expense ratio | 0.35% | 1.30% |
| Cash paid, 1 year | 8.1% | 48.3% |
| Price change, 1 year | +0.8% | −52.1% |
| Total return, 1 year | +9.2% | −2.9% |
| Benchmark return, 1 year | +20.0% | +20.0% |
| Ahead or behind | −10.7 pts | −22.8 pts |
| Return of capital, latest estimate | not published | 100% |
| Age | 2297 days | 918 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.
ULTY in plain words
Over the year to Sep 4, 2026, ULTY paid 48.3% of its starting value in cash distributions while its price fell 52.1%. With every distribution reinvested, the fund returned −2.9%. S&P 500 (SPY), used as a default proxy returned +20.0% over the same days, so a holder was behind by 22.8 pts. At its price on Sep 4, 2026 the latest distribution annualises to 60.4%, paid weekly. YieldMax estimates that 100% of the distribution paid Sep 3, 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 ULTY?
- Over the year to Sep 4, 2026, JEPI paid 8.1% of its starting price in cash and ULTY paid 48.3%, so ULTY 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 ULTY?
- With every distribution reinvested, JEPI returned +9.2% and ULTY returned −2.9% over the year to Sep 4, 2026, so JEPI returned more.
- Which is cheaper, JEPI or ULTY?
- JEPI charges 0.35% a year and ULTY charges 1.30%, 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 ULTY, data as of Sep 4, 2026. https://etfiq.com/compare/income/JEPI-ULTY.html Free to use with attribution; the underlying files are at Open data.