Which paid more, JEPI or QDTE?

Over the year to Oct 27, 2026, JEPI paid 7.9% of its starting price in cash and QDTE paid 34.4%, so QDTE 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 QDTE?

With every distribution reinvested, JEPI returned +7.6% and QDTE +16.4% over the year to Oct 27, 2026.

Which is cheaper, JEPI or QDTE?

JEPI charges 0.35% a year and QDTE charges 0.96%, so JEPI is cheaper. Fees come from each fund's prospectus.

Data as of Oct 27, 2026.

Income ETFs

JEPI vs QDTE: Dividend Yield & Total Return

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Over the year to Oct 27, 2026, QDTE paid 34.4% of its price in cash against JEPI’s 7.9%, and returned more with it reinvested.

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Net assets: $45.8bn on Oct 26, 2026 for JPMorgan Equity Premium Income ETF, and $916m on Oct 27, 2026 for Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF.

JEPI on its own →QDTE on its own →

At a glance

7.9%

JEPI cash paid, 1 year

34.4%

QDTE cash paid, 1 year

+7.6%

JEPI total return, 1 year

+16.4%

QDTE total return, 1 year

JEPI · 1 year to Oct 27, 2026 5.9 pts behind SPY

JEPI

+7.6%

SPY

+13.5%

5.9 pts behind SPY

JEPI over 1 year: paid 7.9%, price −0.6%, total +7.6%, SPY +13.5%, −5.9 pts. Data to Oct 27, 2026.

SPY

+13.5%

JEPI

+7.6%

7.9% of it arrived as cash

5.9 pts behind SPY

Total return, distributions reinvested

5.9 pts behind SPY

JEPI over 1 year: paid 7.9%, price −0.6%, total +7.6%, SPY +13.5%, −5.9 pts. Data to Oct 27, 2026.

SPY

+13.5%

JEPI

+7.6%

5.9 pts behind SPY

7.9% of it arrived as cash. Total return, distributions reinvested. JEPI over 1 year: paid 7.9%, price −0.6%, total +7.6%, SPY +13.5%, −5.9 pts. Data to Oct 27, 2026.

Data to Oct 27, 2026.

QDTE · 1 year to Oct 27, 2026 1 pt ahead of QQQ

QDTE

+16.4%

QQQ

+15.4%

1 pt ahead of QQQ

QDTE over 1 year: paid 34.4%, price −21.7%, total +16.4%, QQQ +15.4%, +1.0 pts. Data to Oct 27, 2026.

QQQ

+15.4%

QDTE

+16.4%

34.4% of it arrived as cash

1 pt ahead of QQQ

Total return, distributions reinvested

1 pt ahead of QQQ

QDTE over 1 year: paid 34.4%, price −21.7%, total +16.4%, QQQ +15.4%, +1.0 pts. Data to Oct 27, 2026.

QQQ

+15.4%

QDTE

+16.4%

34.4% as cash

1 pt ahead of QQQ

34.4% of it arrived as cash. Both charts share one scale, with zero at the line. QDTE over 1 year: paid 34.4%, price −21.7%, total +16.4%, QQQ +15.4%, +1.0 pts. Data to Oct 27, 2026.

Data to Oct 27, 2026.

Pair scorecard

JEPI costs 0.61 points a year less; their one-year returns differ by 8.8 points; JEPI is far larger, $45.9bn against $916m.

Points (pts) are percentage points.

JEPI vs QDTE: Dividend Yield & Total Return
Measure	JEPI	QDTE
Paid and earned
Measure	JEPI	QDTE
Total return, 1 year	+7.6%	+16.4%
Price change, 1 year	fell 0.6%	fell 21.7%
Return of capital, issuer estimate		100% of the Oct 23, 2026 payment
Against its benchmark
Measure	JEPI	QDTE
Benchmark	S&P 500, measured through SPY	Nasdaq-100, measured through QQQ
Against its benchmark, same days	behind by 5.9 pts	ahead by 1.0 pts
Cost and size
Measure	JEPI	QDTE
Expense ratio	0.35%	0.96%
Net assets	$45.9bn	$916m
Holdings
Measure	JEPI	QDTE
Holdings in common	0%

ETFIQ Distribution Coverage Score · JEPI scores higher How much of what it paid out did its total return cover?

IQ Income Score58.2JEPI36.1QDTE

How much of its payouts the fund's total return covered, ranked against 165 income ETFs not writing on a single company. 100 is best. How it is computed

JEPI 58.2

QDTE 36.1

0.3, the lowest in this set 99.7, the highest

A percentile among the 165 income ETFs not writing on a single company. 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 →

Holdings in common uses holdings dated Oct 26, 2026 and Oct 27, 2026. Method

Risk and return

Mar 15, 2024 to Oct 23, 2026 · 136 weekly returns

JEPI QDTE

Return

Total return edge QDTE +22.5% +60.8%

Annualized edge QDTE +8.1% +19.9%

Price return edge JEPI −0.2% −38.8%

Risk

Volatility edge JEPI 9.2% 17.8%

Max drawdown edge JEPI −11.5% −20.5%

Downside capture 59.6% 91.4%

Beta 0.57 0.85

Risk-adjusted

Sharpe edge QDTE 0.42 0.87

Sortino edge QDTE 0.57 1.27

Treynor 0.133 0.182

Calmar edge QDTE 0.70 0.97

Against the benchmark

Alpha −0.3% a year +1.2% a year

Alpha t-stat −0.15 0.39

Information ratio −0.73 −0.23

Tracking error 8.7% 5.7%

Each against its own benchmark: JEPI against SPY, May 29, 2020 to Oct 23, 2026; QDTE against QQQ, Mar 15, 2024 to Oct 23, 2026.

Reading

QDTE returned more: +60.8% to +22.5%. JEPI swung less: 9.2% to 17.8%. JEPI fell less at its worst: −11.5% to −20.5%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: JEPI vs QDTE: Dividend Yield & Total Return
Measure	JEPI	QDTE	Edge	How it is measured
Return
Total return	+22.5%	+60.8%	QDTE	Price change plus distributions, reinvested.
Annualized	+8.1%	+19.9%	QDTE	Total return as a yearly rate.
Price return	−0.2%	−38.8%	JEPI	Price change alone, distributions left out.
Risk
Volatility	9.2%	17.8%	JEPI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	6.8%	12.2%	JEPI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−11.5%	−20.5%	JEPI	Deepest fall from a high to the low after it.
Upside capture	42.2%	81.9%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	59.6%	91.4%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.57	0.85	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.75	0.93	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.42	0.87	QDTE	Return above Treasury bills per unit of volatility.
Sortino	0.57	1.27	QDTE	Return above Treasury bills per unit of downside deviation.
Treynor	0.133	0.182		Return above Treasury bills per unit of beta.
Calmar	0.70	0.97	QDTE	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	SPY	QQQ		The ETF each fund is measured against.
Alpha	−0.3% a year	+1.2% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.15	0.39	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−4.4% to +3.8%	−4.8% to +7.2%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.73	−0.23		Return against its benchmark per unit of tracking error.
Tracking error	8.7%	5.7%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 136 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, JEPI and QDTE hold 0% of their money in the same securities at the same weight. Holdings dated Oct 26, 2026 and Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first JEPI QDTE

Only in one fund ↓

Only in JEPI

MICROSOFT CORP COMMON 1.98%

APPLE INC COMMON STOCK 1.94%

MASTERCARD INC COMMON 1.90%

VISA INC COMMON STOCK 1.82%

AMAZON.COM INC COMMON 1.81%

NVIDIA CORP COMMON STOCK 1.79%

TRANE TECHNOLOGIES PLC 1.78%

3M CO COMMON STOCK USD 1.77%

Only in QDTE

QQQ 11/19/2027 70.11 C 73.42%

QQQ 09/17/2027 70.69 C 17.66%

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 QDTE Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF · 0DTE covered call on QQQ, paying weekly

Issuer JPMorgan Roundhill

Strategy covered call 0DTE covered call

Benchmark S&P 500 (SPY) Nasdaq-100 (QQQ)

Pays monthly weekly

Payout rate, annualized 7.2% 20.9%

Expense ratio 0.35% 0.96%

Cash paid, 1 year 7.9% 34.4%

Price change, 1 year −0.6% −21.7%

Total return, 1 year +7.6% +16.4%

Benchmark return, 1 year +13.5% +15.4%

Ahead or behind −5.9 pts +1.0 pts

Return of capital, latest estimate not published 100%

Age 6.4 years 2.6 years

Net assets, JEPI as of Oct 26, 2026 and QDTE as of Oct 27, 2026 $45.8bn $916m

As of Oct 27, 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 QDTE: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JEPI	QDTE	JEPI	QDTE	JEPI	QDTE
3 months	+1.5%	+6.4%	1.9%	6.5%	−2.7 pts	−0.5 pts
6 months	+4.3%	+10.0%	4.0%	15.0%	−4.4 pts	+0.1 pts
1 year	+7.6%	+16.4%	7.9%	34.4%	−5.9 pts	+1.1 pts
3 years	+40.9%	–	26.3%	–	−53.4 pts	–
Since launchNot the same days: JEPI May 2020 · QDTE Mar 2024	+97.2%	+60.0%	61.5%	75.3%	−88.2 pts	−4.2 pts

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Client brief · page 1 of 2 Report BR-A70544B090

JEPI and QDTE are built for the same job. How do they differ in cost, holdings and results?

Income paid. JEPI paid 7.9% and QDTE 34.4% (cash paid over 1 year, as a share of its price at the start), a gap of 26.5 points.
What each is measured against. JEPI is measured against S&P 500 through SPY and QDTE against Nasdaq-100 through QQQ.
Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 26, 2026 and Oct 27, 2026).

Data as of Oct 27, 2026.

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About each fund

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.

QDTE

Over the year to Oct 27, 2026, QDTE paid 34.4% of its starting value in cash distributions while its price fell 21.7%. With every distribution reinvested, the fund returned +16.4%. Nasdaq-100 (QQQ) returned +15.4% over the same days, so a holder was ahead by 1.0 pts. At its price on Oct 27, 2026 the latest distribution annualizes to 20.9%, paid weekly. Roundhill estimates that 100% of the distribution paid Oct 23, 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 QDTE?: Over the year to Oct 27, 2026, JEPI paid 7.9% of its starting price in cash and QDTE paid 34.4%, so QDTE 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 QDTE?: With every distribution reinvested, JEPI returned +7.6% and QDTE +16.4% over the year to Oct 27, 2026.
Which is cheaper, JEPI or QDTE?: JEPI charges 0.35% a year and QDTE charges 0.96%, so JEPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

JEPI vs ROCQ JEPI vs XQQI JEPI vs QYLD JEPI vs QQQI QDTE vs SPYI QDTE vs XYLD QDTE vs OMAH QDTE vs ROCY

Where to next

S&P 500 (SPY) →Nasdaq-100 (QQQ) →JEPI on its own →QDTE on its own →JEPI dividend history →JEPI holdings →QDTE dividend history →QDTE holdings →Method →Standards and sources →

Sources and dates

JEPI filings on SEC EDGAR ↗

JEPI prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

QDTE filings on SEC EDGAR ↗

QDTE prospectus with the expense ratio (SEC) ↗

QDTE 19a-1 distribution notice ↗

Roundhill page for QDTE ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, JEPI against QDTE, data as of Oct 27, 2026. https://etfiq.com/compare/income/jepi-vs-qdte

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