Data as of .
JEPQ vs PAPI: which paid, and which earned it?
Over the year JEPQ paid 11.9% of its price in cash against PAPI’s 7.9%, and returned more with it reinvested.
ETFIQ Return Stability Score: JEPQ 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, JEPQ and PAPI hold 7% of their money in the same securities at the same weight.
| Holding | JEPQ | PAPI |
|---|---|---|
| Cisco Systems, Inc. | 1.34% | 0.77% |
| Texas Instruments, Inc. | 0.85% | 0.71% |
| Analog Devices, Inc. | 1.12% | 0.63% |
| Alphabet, Inc. | 5.05% | 0.59% |
| QUALCOMM, Inc. | 0.59% | 0.58% |
| Linde plc | 0.73% | 0.54% |
| Costco Wholesale Corp. | 1.16% | 0.49% |
| PepsiCo, Inc. | 0.67% | 0.46% |
| AbbVie, Inc. | 0.41% | 0.64% |
| Microsoft Corp. | 3.90% | 0.39% |
| Comcast Corp. | 0.39% | 0.40% |
| Intuit, Inc. | 0.35% | 0.35% |
| Only in JEPQ | Only in PAPI |
|---|---|
| NVIDIA Corp. 6.68% | Corning, Inc. 1.01% |
| Apple, Inc. 5.83% | TD SYNNEX Corp. 0.81% |
| Micron Technology, Inc. 5.58% | Power Integrations, Inc. 0.73% |
| Advanced Micro Devices, Inc. 3.87% | Royalty Pharma plc 0.73% |
| Amazon.com, Inc. 3.67% | Millicom International Cellular SA 0.72% |
| Lam Research Corp. 2.89% | Avnet, Inc. 0.71% |
| Tesla, Inc. 2.39% | Cummins, Inc. 0.70% |
| Meta Platforms, Inc. 2.38% | Reynolds Consumer Products, Inc. 0.68% |
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 | |||
|---|---|---|---|---|---|---|
| JEPQ | PAPI | JEPQ | PAPI | JEPQ | PAPI | |
| 3 months | +1.6% | +4.7% | 3.3% | 2.0% | +4.1 pts | +2.5 pts |
| 6 months | +15.1% | +5.6% | 6.7% | 4.0% | −9.2 pts | −12.4 pts |
| 1 year | +18.5% | +12.8% | 11.9% | 7.9% | −3.2 pts | −3.8 pts |
| 3 years | +73.0% | not published | 37.2% | not published | −25.1 pts | not published |
| Since launch | +91.7% | +35.6% | 49.2% | 22.5% | −33.0 pts | −49.6 pts |
| JEPQ JPMorgan Nasdaq Equity Premium Income ETF Covered call on QQQ, paying monthly | PAPI Parametric Equity Premium Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | JPMorgan | Parametric |
| Strategy | covered call | covered call |
| Benchmark | Nasdaq-100 (QQQ) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 13.6% | 7.2% |
| Expense ratio | 0.35% | 0.29% |
| Cash paid, 1 year | 11.9% | 7.9% |
| Price change, 1 year | +5.7% | +4.5% |
| Total return, 1 year | +18.5% | +12.8% |
| Benchmark return, 1 year | +21.8% | +16.6% |
| Ahead or behind | −3.2 pts | −3.8 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1598 days | 1065 days |
| Net assets | $43.0bn | $400m |
JEPQ in plain words
Over the year to Sep 18, 2026, JEPQ paid 11.9% of its starting value in cash distributions while its price rose 5.7%. With every distribution reinvested, the fund returned +18.5%. Nasdaq-100 (QQQ) returned +21.8% over the same days, so a holder was behind by 3.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 13.6%, paid monthly.
PAPI in plain words
Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting value in cash distributions while its price rose 4.5%. With every distribution reinvested, the fund returned +12.8%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 3.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.2%, paid monthly.
Questions people ask
- Which paid more, JEPQ or PAPI?
- Over the year to Sep 18, 2026, JEPQ paid 11.9% of its starting price in cash and PAPI paid 7.9%, so JEPQ paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, JEPQ or PAPI?
- With every distribution reinvested, JEPQ returned +18.5% and PAPI returned +12.8% over the year to Sep 18, 2026, so JEPQ returned more.
- Which is cheaper, JEPQ or PAPI?
- JEPQ charges 0.35% a year and PAPI charges 0.29%, so PAPI 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, JEPQ against PAPI, data as of Sep 18, 2026. https://etfiq.com/compare/income/jepq-vs-papi Free to use with attribution; the underlying files are at Open data.