Data as of .
JEPI vs TCAL: which paid, and which earned it?
Over the year TCAL paid 11.4% of its price in cash against JEPI’s 8.1%, though JEPI returned more with it reinvested.
ETFIQ Return Stability Score: JEPI scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 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 TCAL hold 27% of their money in the same securities at the same weight.
| Holding | JEPI | TCAL |
|---|---|---|
| Amazon.com, Inc. | 1.48% | 1.53% |
| Visa, Inc. | 1.42% | 1.69% |
| Yum! Brands, Inc. | 1.40% | 1.72% |
| Mastercard, Inc. | 1.34% | 1.50% |
| Microsoft Corp. | 1.30% | 1.50% |
| Stryker Corp. | 1.23% | 1.50% |
| McDonald's Corp. | 1.22% | 1.70% |
| PepsiCo, Inc. | 1.21% | 1.16% |
| Costco Wholesale Corp. | 1.12% | 1.20% |
| Meta Platforms, Inc. | 1.22% | 1.01% |
| Entergy Corp. | 1.08% | 0.95% |
| Broadcom, Inc. | 1.33% | 0.95% |
| Only in JEPI | Only in TCAL |
|---|---|
| AbbVie, Inc. 1.74% | WATERS CORP 1.97% |
| Howmet Aerospace, Inc. 1.70% | VERALTO CORP 1.87% |
| Eaton Corp. plc 1.64% | WASTE CONNECTIONS INC 1.80% |
| Trane Technologies plc 1.62% | LINDE PLC 1.63% |
| Lam Research Corp. 1.57% | LOCKHEED MARTIN CORP 1.60% |
| Apple, Inc. 1.53% | NORTHROP GRUMMAN CORP 1.56% |
| NVIDIA Corp. 1.53% | TELEDYNE TECHNOLOGIES INC 1.56% |
| Ross Stores, Inc. 1.52% | THERMO FISHER SCIENTIFIC INC 1.49% |
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 | TCAL | JEPI | TCAL | JEPI | TCAL | |
| 3 months | +2.3% | +4.2% | 2.0% | 3.5% | 0.0 pts | +1.9 pts |
| 6 months | +4.6% | +5.3% | 4.3% | 6.3% | −13.5 pts | −12.7 pts |
| 1 year | +7.0% | +3.0% | 8.1% | 11.4% | −9.5 pts | −13.5 pts |
| 3 years | +29.4% | not published | 24.6% | not published | −49.0 pts | not published |
| Since launch | +92.6% | +3.9% | 60.9% | 15.2% | −89.9 pts | −32.7 pts |
| JEPI JPMorgan Equity Premium Income ETF Covered call on SPY, paying monthly | TCAL T. Rowe Price Capital Appreciation Premium Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | JPMorgan | T. Rowe Price |
| Strategy | covered call | covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY), used as a default proxy |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.9% | 9.4% |
| Expense ratio | 0.35% | 0.34% |
| Cash paid, 1 year | 8.1% | 11.4% |
| Price change, 1 year | −1.2% | −8.6% |
| Total return, 1 year | +7.0% | +3.0% |
| Benchmark return, 1 year | +16.6% | +16.6% |
| Ahead or behind | −9.5 pts | −13.5 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 2311 days | 540 days |
| Net assets | $45.3bn | $276m |
JEPI in plain words
Over the year to Sep 18, 2026, JEPI paid 8.1% of its starting value in cash distributions while its price fell 1.2%. With every distribution reinvested, the fund returned +7.0%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 9.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.9%, paid monthly.
TCAL in plain words
Over the year to Sep 18, 2026, TCAL paid 11.4% of its starting value in cash distributions while its price fell 8.6%. With every distribution reinvested, the fund returned +3.0%. S&P 500 (SPY), used as a default proxy returned +16.6% over the same days, so a holder was behind by 13.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.4%, paid monthly.
Questions people ask
- Which paid more, JEPI or TCAL?
- Over the year to Sep 18, 2026, JEPI paid 8.1% of its starting price in cash and TCAL paid 11.4%, so TCAL 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 TCAL?
- With every distribution reinvested, JEPI returned +7.0% and TCAL returned +3.0% over the year to Sep 18, 2026, so JEPI returned more.
- Which is cheaper, JEPI or TCAL?
- JEPI charges 0.35% a year and TCAL charges 0.34%, so TCAL 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 TCAL, data as of Sep 18, 2026. https://etfiq.com/compare/income/jepi-vs-tcal Free to use with attribution; the underlying files are at Open data.