Data as of .
JEPI vs TPAY: which paid, and which earned it?
JEPI and TPAY both write options for income.
What they hold in common
By the books each fund has filed, JEPI and TPAY hold 0% of their money in the same securities at the same weight.
| Only in JEPI | Only in TPAY |
|---|---|
| AbbVie, Inc. 1.74% | SPY 03/12/2027 33.67 C 61.75% |
| Howmet Aerospace, Inc. 1.70% | SPY 04/16/2027 33.18 C 33.20% |
| Johnson & Johnson 1.68% | SPYM 03/12/2027 3.33 C 5.05% |
| Eaton Corp. plc 1.64% | |
| Trane Technologies plc 1.62% | |
| Lam Research Corp. 1.57% | |
| Apple, Inc. 1.53% | |
| NVIDIA Corp. 1.53% |
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 and Sep 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| JEPI | TPAY | JEPI | TPAY | JEPI | TPAY | |
| 3 months | +2.3% | +1.5% | 2.0% | 2.4% | 0.0 pts | −0.8 pts |
| 6 months | +4.6% | +17.3% | 4.3% | 5.3% | −13.5 pts | −0.7 pts |
| 1 year | +7.0% | not published | 8.1% | not published | −9.5 pts | not published |
| 3 years | +29.4% | not published | 24.6% | not published | −49.0 pts | not published |
| Since launch | +92.6% | +11.0% | 60.9% | 5.8% | −89.9 pts | −0.8 pts |
| JEPI JPMorgan Equity Premium Income ETF Covered call on SPY, paying monthly | TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | JPMorgan | Roundhill |
| Strategy | covered call | option income |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.9% | 9.5% |
| Expense ratio | 0.35% | 0.49% |
| Cash paid, 1 year | 8.1% | 5.8% (since launch on Feb 18, 2026) |
| Price change, 1 year | −1.2% | +4.9% |
| Total return, 1 year | +7.0% | +11.0% (since launch on Feb 18, 2026) |
| Benchmark return, 1 year | +16.6% | +11.8% |
| Ahead or behind | −9.5 pts | −0.8 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 2311 days | 212 days |
| Net assets | $45.3bn | $2m |
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.
TPAY in plain words
Over the period since launch on Feb 18, 2026 to Sep 18, 2026, TPAY paid 5.8% of its starting value in cash distributions while its price rose 4.9%. With every distribution reinvested, the fund returned +11.0%. S&P 500 (SPY) returned +11.8% over the same days, so a holder was behind by 0.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.5%, paid monthly.
Questions people ask
- Which is cheaper, JEPI or TPAY?
- JEPI charges 0.35% a year and TPAY charges 0.49%, 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 TPAY, data as of Sep 18, 2026. https://etfiq.com/compare/income/jepi-vs-tpay Free to use with attribution; the underlying files are at Open data.