Data as of Nov 4, 2026.
JEPQ vs PBP: Dividend Yield & Total Return
Over the year to Nov 4, 2026, JEPQ paid 11.9% of its price in cash against PBP’s 11.7%, though PBP returned more with it reinvested.
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Net assets on Nov 3, 2026: $42.1bn for JPMorgan Nasdaq Equity Premium Income ETF and $389m for Invesco S&P 500 BuyWrite ETF.
1.9 pts behind QQQ
JEPQ over 1 year: paid 11.9%, price −1.9%, total +10.4%, QQQ +12.3%, −1.9 pts. Data to Nov 4, 2026.
QQQ
+12.3%
JEPQ
+10.4%
11.9% of it arrived as cash
1.9 pts behind QQQ
Total return, distributions reinvested
1.9 pts behind QQQ
JEPQ over 1 year: paid 11.9%, price −1.9%, total +10.4%, QQQ +12.3%, −1.9 pts. Data to Nov 4, 2026.
QQQ
+12.3%
JEPQ
+10.4%
11.9% cash
1.9 pts behind QQQ
11.9% of it arrived as cash. Total return, distributions reinvested. JEPQ over 1 year: paid 11.9%, price −1.9%, total +10.4%, QQQ +12.3%, −1.9 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.1.4 pts ahead of SPY
PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.
SPY
+14.8%
PBP
+16.2%
11.7% of it arrived as cash
1.4 pts ahead of SPY
Total return, distributions reinvested
1.4 pts ahead of SPY
PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.
SPY
+14.8%
PBP
+16.2%
11.7% as cash
1.4 pts ahead of SPY
11.7% of it arrived as cash. Both charts share one scale, with zero at the line. PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PBP costs 0.06 points a year less; their one-year returns differ by 5.8 points; JEPQ is far larger, $42.1bn against $389m.
Points (pts) are percentage points.
| Measure | JEPQ | PBP |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +10.4% | +16.2% |
| Price change, 1 year | fell 1.9% | rose 3.6% |
| Return of capital, issuer estimate | 95% of the Oct 23, 2026 payment | |
| Against its benchmark | ||
| Benchmark | Nasdaq-100, measured through QQQ | S&P 500, measured through SPY |
| Cost and size | ||
| Expense ratio | 0.35% | 0.29% |
| Net assets, as of Nov 3, 2026 | $42.1bn | $389m |
| Holdings | ||
| Holdings in common | 50% | |
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
May 13, 2022 to Oct 30, 2026 · 233 weekly returnsEach against its own benchmark: JEPQ against QQQ, May 13, 2022 to Oct 30, 2026; PBP against SPY, Dec 28, 2007 to Oct 30, 2026.
From May 2022 to Oct 2026, JEPQ returned more: +95.6% to +50.4%. PBP swung less: 9.8% to 15.6%. PBP fell less at its worst: −14.3% to −18.5%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | JEPQ | PBP | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +95.6% | +50.4% | JEPQ | Price change plus distributions, reinvested. |
| Annualized | +16.2% | +9.5% | JEPQ | Total return as a yearly rate. |
| Price return | +19.2% | +6.7% | JEPQ | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 15.6% | 9.8% | PBP | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.6% | 7.3% | PBP | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −18.5% | −14.3% | PBP | Deepest fall from a high to the low after it. |
| Upside capture | 56.8% | 43.1% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 79.0% | 66.8% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.71 | 0.63 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.92 | 0.78 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.76 | 0.54 | JEPQ | Return above Treasury bills per unit of volatility. |
| Sortino | 1.12 | 0.72 | JEPQ | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.168 | 0.072 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.87 | 0.67 | JEPQ | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | QQQ | SPY | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | −2.2% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.06 | −1.56 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −4.3% to +4.1% | −5.0% to +0.6% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.67 | −0.68 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 7.7% | 9.1% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 233 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, JEPQ and PBP hold 50% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
50% 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 | JEPQ | PBP | JEPQ | PBP | JEPQ | PBP |
| 3 months | −0.9% | +2.5% | 3.0% | 2.5% | +2.6 pts | +2.6 pts |
| 6 months | +2.3% | +8.1% | 6.2% | 5.3% | +2.6 pts | +3.1 pts |
| 1 year | +10.4% | +16.2% | 11.9% | 11.7% | −1.8 pts | +1.4 pts |
| 3 years | +66.7% | +49.6% | 38.3% | 33.4% | −24.7 pts | −33.3 pts |
| Since launchNot the same days: JEPQ May 2022 · PBP Dec 2007 | +85.2% | +172.0% | 51.4% | 92.4% | −30.6 pts | −467.6 pts |
Client brief:
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JEPQ
Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting value in cash distributions while its price fell 1.9%. With every distribution reinvested, the fund returned +10.4%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 1.9 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 11.3%, paid monthly.
PBP
Over the year to Nov 4, 2026, PBP paid 11.7% of its starting value in cash distributions while its price rose 3.6%. With every distribution reinvested, the fund returned +16.2%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was ahead by 1.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.5%, paid monthly. Invesco estimates that 95% of the distribution paid Oct 23, 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, JEPQ against PBP, data as of Nov 4, 2026. https://etfiq.com/compare/income/jepq-vs-pbp
ETFIQ. (Nov 4, 2026). JEPQ against PBP. Retrieved from https://etfiq.com/compare/income/jepq-vs-pbp
[JEPQ against PBP (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/jepq-vs-pbp)
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