Data as of .
JEPI vs SPYI: which paid, and which earned it?
Over the year SPYI paid 12.1% of its price in cash against JEPI’s 8.0%, and returned more with it reinvested.
ETFIQ Return Stability Score: SPYI scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 161 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
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% |
| Barclays Bank plc 0.95% | Intel Corp 1.01% |
| National Bank of Canada 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 dated Jun 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| JEPI | SPYI | JEPI | SPYI | JEPI | SPYI | |
| 3 months | +3.1% | +4.0% | 2.0% | 3.0% | −0.2 pts | +0.7 pts |
| 6 months | +3.5% | +12.6% | 4.2% | 6.3% | −12.5 pts | −3.4 pts |
| 1 year | +7.2% | +15.8% | 8.0% | 12.1% | −10.3 pts | −1.7 pts |
| 3 years | +30.3% | +56.5% | 24.6% | 37.4% | −47.6 pts | −21.3 pts |
| Since launch | +94.0% | +76.9% | 60.9% | 49.2% | −88.7 pts | −25.6 pts |
| JEPI JPMorgan Equity Premium Income ETF Covered call on SPY, paying monthly | SPYI NEOS S&P 500(R) High Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | JPMorgan | NEOS |
| Strategy | covered call | covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.9% | 12.2% |
| Expense ratio | 0.35% | 0.68% |
| Cash paid, 1 year | 8.0% | 12.1% |
| Price change, 1 year | −1.1% | +2.6% |
| Total return, 1 year | +7.2% | +15.8% |
| Benchmark return, 1 year | +17.5% | +17.5% |
| Ahead or behind | −10.3 pts | −1.7 pts |
| Return of capital, latest estimate | not published | 93% |
| Age | 2304 days | 1473 days |
JEPI in plain words
Over the year to Sep 11, 2026, JEPI paid 8.0% of its starting value in cash distributions while its price fell 1.1%. With every distribution reinvested, the fund returned +7.2%. S&P 500 (SPY) returned +17.5% over the same days, so a holder was behind by 10.3 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 7.9%, paid monthly.
SPYI in plain words
Over the year to Sep 11, 2026, SPYI paid 12.1% of its starting value in cash distributions while its price rose 2.6%. With every distribution reinvested, the fund returned +15.8%. S&P 500 (SPY) returned +17.5% over the same days, so a holder was behind by 1.7 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 12.2%, paid monthly. NEOS estimates that 93% of the distribution paid Jun 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which paid more, JEPI or SPYI?
- Over the year to Sep 11, 2026, JEPI paid 8.0% of its starting price in cash and SPYI paid 12.1%, 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 +7.2% and SPYI returned +15.8% over the year to Sep 11, 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 11, 2026. https://etfiq.com/compare/income/jepi-vs-spyi Free to use with attribution; the underlying files are at Open data.