Which is cheaper, JEPI or XSPI?

JEPI charges 0.35% a year and XSPI charges 0.98%, so JEPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

JEPI vs XSPI: Dividend Yield & Total Return

JEPI and XSPI both write options for income.

askIQ about this page

Net assets: $46.1bn on Nov 3, 2026 for JPMorgan Equity Premium Income ETF, and $140m on Oct 28, 2026 for NEOS Boosted S&P 500 High Income ETF.

JEPI on its own →XSPI on its own →

At a glance

8.1%

JEPI cash paid, 1 year

13.9%

XSPI cash paid, since launch, Feb 3, 2026

+12.0%

JEPI total return, 1 year

+12.4%

XSPI total return, since launch, Feb 3, 2026

JEPI · 1 year to Nov 4, 2026 2.8 pts behind SPY

JEPI

+12.0%

SPY

+14.8%

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.

XSPI · since launch to Nov 4, 2026 About even with SPY

XSPI

+12.4%

SPY

+12.1%

About even with SPY

XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.

SPY

+12.1%

XSPI

+12.4%

13.9% of it arrived as cash

about even with SPY

Total return, distributions reinvested

About even with SPY

XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.

SPY

+12.1%

XSPI

+12.4%

13.9% as cash

about even with SPY

13.9% of it arrived as cash. Both charts share one scale, with zero at the line. XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

JEPI costs 0.63 points a year less; JEPI is far larger, $46.1bn against $140m.

Points (pts) are percentage points.

JEPI vs XSPI: Dividend Yield & Total Return
Measure	JEPI	XSPI
Paid and earned
Measure	JEPI	XSPI
Total return, 1 year	+12.0%	not published
Price change	rose 3.4% (1 year)	fell 2.3% (since Feb 3, 2026)
Return of capital, issuer estimate		98% of the Oct 9, 2026 payment
Against its benchmark
Measure	JEPI	XSPI
Benchmark	S&P 500, measured through SPY	S&P 500, measured through SPY
Cost and size
Measure	JEPI	XSPI
Expense ratio	0.35%	0.98%
Net assets, as of Oct 28, 2026	$46.1bn	$140m
Holdings
Measure	JEPI	XSPI
Holdings in common	39%

Method

What they share

39%

By the books each fund has filed, JEPI and XSPI hold 39% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

39% in common

Positions both hold · largest shared weight first JEPI XSPI

MICROSOFT CORP COMMON 1.93% 6.26%

APPLE INC COMMON STOCK 1.86% 7.92%

AMAZON.COM INC COMMON 1.81% 3.98%

NVIDIA CORP COMMON STOCK 1.73% 8.10%

BROADCOM INC COMMON 1.69% 2.52%

ALPHABET INC-CL A 1.67% 2.66%

META PLATFORMS INC COMMON 1.66% 2.14%

ELI LILLY AND COMPANY 1.17% 1.79%

VISA INC COMMON STOCK USD 1.88% 1.10%

JOHNSON & JOHNSON COMMON 1.75% 1.03%

MICRON TECHNOLOGY INC 0.92% 1.49%

ADVANCED MICRO DEVICES 0.89% 1.23%

Only in one fund ↓

Only in JEPI

S&P 500 equity-linked note 10 0.96%

S&P 500 equity-linked note 11 0.96%

S&P 500 equity-linked note 12 0.96%

S&P 500 equity-linked note 22 0.96%

S&P 500 equity-linked note 18 0.92%

S&P 500 equity-linked note 14 0.91%

S&P 500 equity-linked note 15 0.91%

S&P 500 equity-linked note 16 0.91%

Only in XSPI

Alphabet Inc 2.12%

JPMORGAN CHASE & CO. 1.45%

SPX US 01/15/27 C7695 1.12%

Chevron Corp 0.67%

Cisco Systems Inc 0.66%

GE AEROSPACE 0.54%

Bank of America Corp 0.53%

Home Depot Inc 0.52%

Check overlap with more funds →

Side by side

JEPI JPMorgan Equity Premium Income ETF · Writes calls through equity-linked notes (ELNs) on the S&P 500, paying monthly XSPI NEOS Boosted S&P 500 High Income ETF · Option income on SPY, paying monthly

Issuer JPMorgan NEOS

Strategy covered call option income

Benchmark S&P 500 (SPY) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 7.1% 16.6%

Expense ratio 0.35% 0.98%

Cash paid, 1 year 8.1% 13.9% (since launch, Feb 3, 2026)

Price change, 1 year +3.4% −2.3% (since launch, Feb 3, 2026)

Total return, 1 year +12.0% +12.4% (since launch, Feb 3, 2026)

Benchmark return, 1 year +14.8% +12.1% (since launch, Feb 3, 2026)

Ahead or behind −2.8 pts +0.3 pts (since launch, Feb 3, 2026)

Return of capital, latest estimate not published 98%

Age 6.5 years 274 days

Net assets, JEPI as of Nov 3, 2026 and XSPI as of Oct 28, 2026 $46.1bn $140m

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

Window by window: JEPI vs XSPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JEPI	XSPI	JEPI	XSPI	JEPI	XSPI
3 months	+3.3%	+1.1%	1.8%	4.2%	+3.4 pts	+1.2 pts
6 months	+7.3%	+7.0%	3.9%	8.5%	+2.3 pts	+2.0 pts
1 year	+12.0%	–	8.1%	–	−2.8 pts	–
3 years	+37.9%	–	25.2%	–	−45.1 pts	–
Since launchNot the same days: JEPI May 2020 · XSPI Feb 2026	+102.1%	+12.4%	62.2%	13.9%	−82.3 pts	+0.3 pts

– means no data for this window. Open this comparison in the app →

Alert

About each fund

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.

XSPI

Over the period from its first trade on Feb 3, 2026 to Nov 4, 2026, XSPI paid 13.9% of its starting value in cash distributions while its price fell 2.3%. With every distribution reinvested, the fund returned +12.4%. S&P 500 (SPY) returned +12.1% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 16.6%, paid monthly. NEOS estimates that 98% of the distribution paid Oct 9, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which is cheaper, JEPI or XSPI?: JEPI charges 0.35% a year and XSPI charges 0.98%, so JEPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

JEPI vs XDTE JEPI vs ROCY JEPI vs SCLZ JEPI vs OMAH XSPI vs XYLD XSPI vs SPYI XSPI vs OMAH XSPI vs ROCY

Where to next

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →JEPI on its own →XSPI on its own →JEPI dividend history →JEPI holdings →XSPI dividend history →XSPI holdings →Method →Standards and sources →

Sources and dates

JEPI filings on SEC EDGAR ↗

JEPI prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

XSPI filings on SEC EDGAR ↗

XSPI prospectus with the expense ratio (SEC) ↗

XSPI 19a-1 distribution notice ↗

NEOS page for XSPI ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, JEPI against XSPI, data as of Nov 4, 2026. https://etfiq.com/compare/income/jepi-vs-xspi

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.