Data as of . Every figure is the income desk's own, on published data.
JEPQ vs ULTY
What they hold in common
By the books each fund has filed, JEPQ and ULTY hold 18% of their money in the same securities at the same weight.
| Holding | JEPQ | ULTY |
|---|---|---|
| NVIDIA Corp. | 6.68% | 4.80% |
| Advanced Micro Devices, Inc. | 3.87% | 4.15% |
| Amazon.com, Inc. | 3.67% | 5.16% |
| Lam Research Corp. | 2.89% | 4.99% |
| Analog Devices, Inc. | 1.12% | 5.47% |
| Palantir Technologies, Inc. | 0.79% | 4.40% |
| Shopify, Inc. | 0.38% | 3.69% |
| Astera Labs, Inc. | 0.09% | 4.56% |
| Strategy, Inc. | 0.03% | 4.65% |
| Only in JEPQ | Only in ULTY |
|---|---|
| Apple, Inc. 5.83% | Alphabet Inc 5.66% |
| Micron Technology, Inc. 5.58% | Ciena Corp 4.95% |
| Alphabet, Inc. 5.05% | Quanta Services Inc 4.95% |
| Microsoft Corp. 3.90% | Lumentum Holdings Inc 4.86% |
| Tesla, Inc. 2.39% | IREN Ltd 4.80% |
| Meta Platforms, Inc. 2.38% | Coherent Corp 4.50% |
| Broadcom, Inc. 2.16% | VanEck Gold Miners ETF/USA 4.33% |
| Seagate Technology Holdings plc 1.93% | Comfort Systems USA Inc 4.31% |
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 | |||
|---|---|---|---|---|---|---|
| JEPQ | ULTY | JEPQ | ULTY | JEPQ | ULTY | |
| 3 months | +5.2% | +2.9% | 3.4% | 14.5% | +3.1 pts | −1.8 pts |
| 6 months | +12.2% | +12.9% | 6.6% | 29.9% | −8.0 pts | −2.3 pts |
| 1 year | +20.7% | −2.9% | 12.2% | 48.3% | −4.9 pts | −22.8 pts |
| 3 years | +70.7% | n/a | 36.9% | n/a | −22.8 pts | n/a |
| Since launch | +90.5% | +10.0% | 49.2% | 86.5% | −33.5 pts | −46.2 pts |
| JEPQ JPMorgan Nasdaq Equity Premium Income ETF | ULTY YieldMax(R) Ultra Option Income Strategy ETF | |
|---|---|---|
| Issuer | JPMorgan | YieldMax |
| Strategy | covered call | synthetic covered call |
| Benchmark | Nasdaq-100 (QQQ) | S&P 500 (SPY), used as a default proxy |
| Pays | monthly | weekly |
| Payout rate, annualised | 13.7% | 60.4% |
| Expense ratio | 0.35% | 1.30% |
| Cash paid, 1 year | 12.2% | 48.3% |
| Price change, 1 year | +7.6% | −52.1% |
| Total return, 1 year | +20.7% | −2.9% |
| Benchmark return, 1 year | +25.6% | +20.0% |
| Ahead or behind | −4.9 pts | −22.8 pts |
| Return of capital, latest estimate | not published | 100% |
| Age | 1584 days | 918 days |
JEPQ in plain words
Over the year to Sep 4, 2026, JEPQ paid 12.2% of its starting value in cash distributions while its price rose 7.6%. With every distribution reinvested, the fund returned +20.7%. Nasdaq-100 (QQQ) returned +25.6% over the same days, so a holder was behind by 4.9 pts. At its price on Sep 4, 2026 the latest distribution annualises to 13.7%, 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, JEPQ or ULTY?
- Over the year to Sep 4, 2026, JEPQ paid 12.2% 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, JEPQ or ULTY?
- With every distribution reinvested, JEPQ returned +20.7% and ULTY returned −2.9% over the year to Sep 4, 2026, so JEPQ returned more.
- Which is cheaper, JEPQ or ULTY?
- JEPQ charges 0.35% a year and ULTY charges 1.30%, so JEPQ 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, JEPQ against ULTY, data as of Sep 4, 2026. https://etfiq.com/compare/income/JEPQ-ULTY.html Free to use with attribution; the underlying files are at Open data.