Data as of Nov 4, 2026.
JEPI vs XPAY: Dividend Yield & Total Return
Over the year to Nov 4, 2026, XPAY paid 19.7% of its price in cash against JEPI’s 8.1%, and returned more with it reinvested.
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Net assets: $46.1bn on Nov 3, 2026 for JPMorgan Equity Premium Income ETF, and $187m on Nov 4, 2026 for Roundhill S&P 500 Target 20 Managed Distribution ETF.
2.8 pts behind SPY
JEPI over 1 year: paid 8.1%, price +3.4%, total +12.0%, SPY +14.8%, −2.8 pts. Data to Nov 4, 2026.
SPY
+14.8%
JEPI
+12.0%
8.1% of it arrived as cash
2.8 pts behind SPY
Total return, distributions reinvested
2.8 pts behind SPY
JEPI over 1 year: paid 8.1%, price +3.4%, total +12.0%, SPY +14.8%, −2.8 pts. Data to Nov 4, 2026.
SPY
+14.8%
JEPI
+12.0%
8.1% cash
2.8 pts behind SPY
8.1% of it arrived as cash. Total return, distributions reinvested. JEPI over 1 year: paid 8.1%, price +3.4%, total +12.0%, SPY +14.8%, −2.8 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.0.8 pts behind VOO
XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.
VOO
+14.8%
XPAY
+14.0%
19.7% of it arrived as cash
0.8 pts behind VOO
Total return, distributions reinvested
0.8 pts behind VOO
XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.
VOO
+14.8%
XPAY
+14.0%
19.7% as cash
0.8 pts behind VOO
19.7% of it arrived as cash. Both charts share one scale, with zero at the line. XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
JEPI costs 0.14 points a year less; their one-year returns differ by 2.0 points; JEPI is far larger, $46.8bn against $187m.
Points (pts) are percentage points.
| Measure | JEPI | XPAY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +12.0% | +14.0% |
| Price change, 1 year | rose 3.4% | fell 7.2% |
| Return of capital, issuer estimate | 100% of the Oct 15, 2026 payment | |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | Vanguard S&P 500 ETF, measured through VOO |
| Cost and size | ||
| Expense ratio | 0.35% | 0.49% |
| Net assets | $46.8bn | $187m |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
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 →
Risk and return
Nov 8, 2024 to Oct 30, 2026 · 103 weekly returnsEach against its own benchmark: JEPI against SPY, May 29, 2020 to Oct 30, 2026; XPAY against VOO, Nov 8, 2024 to Oct 30, 2026.
From Nov 2024 to Oct 2026, XPAY returned more: +27.3% to +12.1%. JEPI swung less: 9.7% to 14.9%. JEPI fell less at its worst: −11.5% to −17.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | JEPI | XPAY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +12.1% | +27.3% | XPAY | Price change plus distributions, reinvested. |
| Annualized | +5.9% | +12.9% | XPAY | Total return as a yearly rate. |
| Price return | −4.1% | −14.6% | JEPI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 9.7% | 14.9% | JEPI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.4% | 9.9% | JEPI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.5% | −17.1% | JEPI | Deepest fall from a high to the low after it. |
| Upside capture | 42.2% | 99.7% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 58.9% | 101.5% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.57 | 1.01 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.75 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.23 | 0.62 | XPAY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.30 | 0.93 | XPAY | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.136 | 0.091 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.52 | 0.76 | XPAY | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | VOO | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | −0.9% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.03 | −1.35 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −4.2% to +4.0% | −2.3% to +0.4% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.69 | −0.82 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 8.7% | 1.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 103 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, JEPI and XPAY hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 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 | XPAY | JEPI | XPAY | JEPI | XPAY |
| 3 months | +3.3% | −0.3% | 1.8% | 5.0% | +3.4 pts | −0.2 pts |
| 6 months | +7.3% | +4.9% | 3.9% | 10.0% | +2.3 pts | −0.1 pts |
| 1 year | +12.0% | +14.0% | 8.1% | 19.7% | −2.8 pts | −0.9 pts |
| 3 years | +37.9% | – | 25.2% | – | −45.1 pts | – |
| Since launchNot the same days: JEPI May 2020 · XPAY Oct 2024 | +102.1% | +35.6% | 62.2% | 39.0% | −82.3 pts | −2.6 pts |
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JEPI
Over the year to Nov 4, 2026, JEPI paid 8.1% of its starting value in cash distributions while its price rose 3.4%. With every distribution reinvested, the fund returned +12.0%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 2.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 7.1%, paid monthly.
XPAY
Over the year to Nov 4, 2026, XPAY paid 19.7% of its starting value in cash distributions while its price fell 7.2%. With every distribution reinvested, the fund returned +14.0%. Vanguard S&P 500 ETF (VOO) returned +14.8% over the same days, so a holder was behind by 0.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 21.1%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
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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 XPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/jepi-vs-xpay
ETFIQ. (Nov 4, 2026). JEPI against XPAY. Retrieved from https://etfiq.com/compare/income/jepi-vs-xpay
[JEPI against XPAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/jepi-vs-xpay)
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