Data as of Oct 27, 2026.
JEPI vs ULTY: Dividend Yield & Total Return
Over the year to Oct 27, 2026, ULTY paid 43.6% of its price in cash against JEPI’s 7.9%, though JEPI returned more with it reinvested.
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Net assets on Oct 26, 2026: $45.8bn for JPMorgan Equity Premium Income ETF and $622m for YieldMax Ultra Option Income Strategy ETF.
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% 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, 2026.6.7 pts ahead of its own holdings
ULTY over 1 year: paid 43.6%, price −54.8%, total −11.5%, its own holdings −18.2%, +6.7 pts. Data to Oct 27, 2026.
its own holdings
−18.2%
ULTY
−11.5%
6.7 pts ahead of its own holdings
Total return, distributions reinvested
6.7 pts ahead of its own holdings
ULTY over 1 year: paid 43.6%, price −54.8%, total −11.5%, its own holdings −18.2%, +6.7 pts. Data to Oct 27, 2026.
its own holdings
−18.2%
ULTY
−11.5%
43.6% of it arrived as cash. Both charts share one scale, with zero at the line. ULTY over 1 year: paid 43.6%, price −54.8%, total −11.5%, its own holdings −18.2%, +6.7 pts. Data to Oct 27, 2026.
Data to Oct 27, 2026.Pair scorecard
JEPI costs 0.95 points a year less; their one-year returns differ by 19.1 points; JEPI is far larger, $45.8bn against $622m.
Points (pts) are percentage points.
| Measure | JEPI | ULTY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +7.6% | −11.5% |
| Price change, 1 year | fell 0.6% | fell 54.8% |
| Return of capital, issuer estimate | 100% of the Oct 29, 2026 payment | |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | its own holdings |
| Cost and size | ||
| Expense ratio | 0.35% | 1.30% |
| Net assets, as of Oct 26, 2026 | $45.8bn | $622m |
| Holdings | ||
| Holdings in common | 8% | |
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
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. Method
Risk and return
Mar 8, 2024 to Oct 23, 2026 · 137 weekly returnsJEPI returned more: +22.3% to −0.3%. JEPI swung less: 9.2% to 24.1%. JEPI fell less at its worst: −11.5% to −25.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | JEPI | ULTY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +22.3% | −0.3% | JEPI | Price change plus distributions, reinvested. |
| Annualized | +7.9% | −0.1% | JEPI | Total return as a yearly rate. |
| Price return | −0.4% | −88.7% | JEPI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 9.2% | 24.1% | JEPI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 6.8% | 18.4% | JEPI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.5% | −25.9% | JEPI | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.41 | −0.06 | JEPI | Return above Treasury bills per unit of volatility. |
| Sortino | 0.55 | −0.08 | JEPI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.69 | 0.00 | JEPI | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 137 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, JEPI and ULTY hold 8% of their money in the same securities at the same weight. Holdings dated Oct 26, 2026.
half
8% in common
Only in one fund ↓
Side by side
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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | JEPI | ULTY | JEPI | ULTY | JEPI | ULTY |
| 3 months | +1.5% | +2.2% | 1.9% | 15.1% | −2.7 pts | −6.2 pts |
| 6 months | +4.3% | +0.6% | 4.0% | 28.1% | −4.4 pts | −4.9 pts |
| 1 year | +7.6% | −11.5% | 7.9% | 43.6% | −5.9 pts | +6.7 pts |
| 3 years | +40.9% | – | 26.3% | – | −53.4 pts | – |
| Since launchNot the same days: JEPI May 2020 · ULTY Feb 2024 | +97.2% | +4.5% | 61.5% | 87.6% | −88.2 pts | not measured |
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JEPI and ULTY are built for the same job. How do they differ in cost, holdings and results?
- Income paid. JEPI paid 7.9% and ULTY 43.6% (cash paid over 1 year, as a share of its price at the start), a gap of 35.7 points.
- What each is measured against. JEPI is measured against S&P 500 through SPY and ULTY against its own holdings.
- Holdings in common. 8% of the weight is in the same securities (holdings dated Oct 26, 2026).
Data as of Oct 27, 2026.
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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.
ULTY
Over the year to Oct 27, 2026, ULTY paid 43.6% of its starting value in cash distributions while its price fell 54.8%. With every distribution reinvested, the fund returned −11.5%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 23, 2026) returned −18.2% over the same days, so a holder was ahead by 6.7 pts. At its price on Oct 27, 2026 the latest distribution annualizes to 62.8%, paid weekly. YieldMax estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
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 ULTY, data as of Oct 27, 2026. https://etfiq.com/compare/income/jepi-vs-ulty
ETFIQ. (Oct 27, 2026). JEPI against ULTY. Retrieved from https://etfiq.com/compare/income/jepi-vs-ulty
[JEPI against ULTY (ETFIQ, Oct 27, 2026)](https://etfiq.com/compare/income/jepi-vs-ulty)
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