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Data as of Nov 4, 2026.

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Income ETFs

JEPI vs LOCT: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, JEPI paid 8.1% of its price in cash against LOCT’s 5.2%, and returned more with it reinvested.

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Net assets: $46.1bn on Nov 3, 2026 for JPMorgan Equity Premium Income ETF, and $11m on Nov 4, 2026 for Innovator Premium Income 15 Buffer ETF - October.

JEPI on its own →LOCT on its own →
At a glance
8.1%
JEPI cash paid, 1 year
5.2%
LOCT cash paid, 1 year
+12.0%
JEPI total return, 1 year
+5.8%
LOCT total return, 1 year
JEPI · 1 year to Nov 4, 2026 2.8 pts behind SPY
JEPI
+12.0%
SPY
+14.8%

2.8 pts behind SPY

JEPI over 1 year: paid 8.1%, price +3.4%, total +12.0%, SPY +14.8%, −2.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

JEPI

+12.0%

8.1% of it arrived as cash

2.8 pts behind SPY

Total return, distributions reinvested

2.8 pts behind SPY

JEPI over 1 year: paid 8.1%, price +3.4%, total +12.0%, SPY +14.8%, −2.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

JEPI

+12.0%

8.1% cash

2.8 pts behind SPY

8.1% of it arrived as cash. Total return, distributions reinvested. JEPI over 1 year: paid 8.1%, price +3.4%, total +12.0%, SPY +14.8%, −2.8 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.
LOCT · 1 year to Nov 4, 2026 9 pts behind VOO
LOCT
+5.8%
VOO
+14.8%

9 pts behind VOO

LOCT over 1 year: paid 5.2%, price +0.4%, total +5.8%, VOO +14.8%, −9.0 pts. Data to Nov 4, 2026.

VOO

+14.8%

LOCT

+5.8%

5.2% of it arrived as cash

9 pts behind VOO

Total return, distributions reinvested

9 pts behind VOO

LOCT over 1 year: paid 5.2%, price +0.4%, total +5.8%, VOO +14.8%, −9.0 pts. Data to Nov 4, 2026.

VOO

+14.8%

LOCT

+5.8%

9 pts behind VOO

5.2% of it arrived as cash. Both charts share one scale, 0 to +14.8%. LOCT over 1 year: paid 5.2%, price +0.4%, total +5.8%, VOO +14.8%, −9.0 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +14.8%. Data to Nov 4, 2026.

Pair scorecard

JEPI costs 0.44 points a year less; their one-year returns differ by 6.2 points; JEPI is far larger, $46.8bn against $11m.

Points (pts) are percentage points.

JEPI vs LOCT: Dividend Yield & Total Return
MeasureJEPILOCT
Paid and earned
Total return, 1 year+12.0%+5.8%
Price change, 1 yearrose 3.4%rose 0.4%
Return of capital, issuer estimate35% of the Nov 2, 2026 payment
Against its benchmark
BenchmarkS&P 500, measured through SPYVanguard S&P 500 ETF, measured through VOO
Against its benchmark, same daysbehind by 2.8 ptsbehind by 9.0 pts
Cost and size
Expense ratio0.35%0.79%
Net assets$46.8bn$11m
Holdings
Holdings in common0%
ETFIQ Distribution Coverage Score · JEPI scores higher How much of what it paid out did its total return cover?
IQ Income Score76.9JEPI65.6LOCT

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

What they share

0%

By the books each fund has filed, JEPI and LOCT hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first JEPI LOCT
Only in one fund ↓
Only in JEPI
MASTERCARD INC COMMON 1.99%
MICROSOFT CORP COMMON 1.93%
VISA INC COMMON STOCK USD 1.88%
APPLE INC COMMON STOCK 1.86%
AMAZON.COM INC COMMON 1.81%
NEXTERA ENERGY INC 1.81%
3M CO COMMON STOCK USD 1.80%
JOHNSON & JOHNSON COMMON 1.75%
Only in LOCT
Check overlap with more funds →

Side by side

JEPI JPMorgan Equity Premium Income ETF · Writes calls through equity-linked notes (ELNs) on the S&P 500, paying monthly LOCT Innovator Premium Income 15 Buffer ETF - October · Buffer with income on VOO, paying monthly
Issuer JPMorgan Innovator
Strategy covered call buffer with income
Benchmark S&P 500 (SPY) Vanguard S&P 500 ETF (VOO)
Pays monthly monthly
Payout rate, annualized 7.1% 5.8%
Expense ratio 0.35% 0.79%
Cash paid, 1 year 8.1% 5.2%
Price change, 1 year +3.4% +0.4%
Total return, 1 year +12.0% +5.8%
Benchmark return, 1 year +14.8% +14.8%
Ahead or behind −2.8 pts −9.0 pts
Return of capital, latest estimate not published 35%
Age 6.5 years 3.1 years
Net assets, JEPI as of Nov 3, 2026 and LOCT as of Nov 4, 2026 $46.1bn $11m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: JEPI vs LOCT: Dividend Yield & Total Return
Total returnCash paidAgainst the benchmark
WindowJEPILOCTJEPILOCTJEPILOCT
3 months+3.3%+1.2%1.8%1.3%+3.4 pts+1.3 pts
6 months+7.3%+2.4%3.9%2.6%+2.3 pts−2.6 pts
1 year+12.0%+5.8%8.1%5.2%−2.8 pts−9.0 pts
3 years+37.9%+17.9%25.2%16.8%−45.1 pts−65.4 pts
Since launchNot the same days: JEPI May 2020 · LOCT Oct 2023+102.1%+19.3%62.2%17.5%−82.3 pts−67.1 pts

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About each fund
JEPI

Over the year to Nov 4, 2026, JEPI paid 8.1% of its starting value in cash distributions while its price rose 3.4%. With every distribution reinvested, the fund returned +12.0%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 2.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 7.1%, paid monthly.

LOCT

Over the year to Nov 4, 2026, LOCT paid 5.2% of its starting value in cash distributions while its price rose 0.4%. With every distribution reinvested, the fund returned +5.8%. Vanguard S&P 500 ETF (VOO) returned +14.8% over the same days, so a holder was behind by 9.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 5.8%, paid monthly. Innovator estimates that 35% of the distribution paid Nov 2, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, JEPI or LOCT?
Over the year to Nov 4, 2026, JEPI paid 8.1% of its starting price in cash and LOCT paid 5.2%, so JEPI 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 LOCT?
With every distribution reinvested, JEPI returned +12.0% and LOCT +5.8% over the year to Nov 4, 2026.
Which is cheaper, JEPI or LOCT?
JEPI charges 0.35% a year and LOCT charges 0.79%, so JEPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
JEPI vs LAPRJEPI vs LJANJEPI vs LJULJEPI vs XIDELOCT vs SPYILOCT vs XYLDLOCT vs OMAHLOCT vs ROCY
Where to next
S&P 500 (SPY) →Vanguard S&P 500 ETF (VOO) →JEPI on its own →LOCT on its own →JEPI dividend history →JEPI holdings →LOCT dividend history →Method →Standards and sources →
Sources and dates
JEPI filings on SEC EDGAR ↗
JEPI prospectus with the expense ratio (SEC) ↗
JPMorgan website ↗
LOCT filings on SEC EDGAR ↗
LOCT prospectus with the expense ratio (SEC) ↗
LOCT 19a-1 distribution notice ↗
Innovator page for LOCT ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, JEPI against LOCT, data as of Nov 4, 2026. https://etfiq.com/compare/income/jepi-vs-loct

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