Which paid more, JEPQ or SCLZ?

Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting price in cash and SCLZ paid 8.5%, 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 SCLZ?

With every distribution reinvested, JEPQ returned +10.4% and SCLZ +10.6% over the year to Nov 4, 2026.

Which is cheaper, JEPQ or SCLZ?

JEPQ charges 0.35% a year and SCLZ charges 0.79%, so JEPQ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

JEPQ vs SCLZ: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, JEPQ paid 11.9% of its price in cash against SCLZ’s 8.5% and the two finished level on total return.

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Net assets: $42.1bn on Nov 3, 2026 for JPMorgan Nasdaq Equity Premium Income ETF, and $20m on Jun 30, 2026 for Swan Enhanced Dividend Income ETF.

JEPQ on its own →SCLZ on its own →

At a glance

11.9%

JEPQ cash paid, 1 year

8.5%

SCLZ cash paid, 1 year

+10.4%

JEPQ total return, 1 year

+10.6%

SCLZ total return, 1 year

JEPQ · 1 year to Nov 4, 2026 1.9 pts behind QQQ

JEPQ

+10.4%

QQQ

+12.3%

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% as 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.

SCLZ · 1 year to Nov 4, 2026 4.2 pts behind SPY

SCLZ

+10.6%

SPY

+14.8%

4.2 pts behind SPY

SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

SPY

+14.8%

SCLZ

+10.6%

8.5% of it arrived as cash

4.2 pts behind SPY

Total return, distributions reinvested

4.2 pts behind SPY

SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

SPY

+14.8%

SCLZ

+10.6%

8.5% cash

4.2 pts behind SPY

8.5% of it arrived as cash. Both charts share one scale, with zero at the line. SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

JEPQ costs 0.44 points a year less; their one-year returns differ by 0.2 points.

Points (pts) are percentage points.

JEPQ vs SCLZ: Dividend Yield & Total Return
Measure	JEPQ	SCLZ
Paid and earned
Measure	JEPQ	SCLZ
Total return, 1 year	+10.4%	+10.6%
Price change, 1 year	fell 1.9%	rose 1.6%
Against its benchmark
Measure	JEPQ	SCLZ
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Cost and size
Measure	JEPQ	SCLZ
Expense ratio	0.35%	0.79%
Net assets, JEPQ as of Nov 3, 2026 and SCLZ as of Jun 30, 2026	$42.1bn	$20m
Holdings
Measure	JEPQ	SCLZ
Holdings in common	47%

ETFIQ Distribution Coverage Score · SCLZ scores higher How much of what it paid out did its total return cover?

IQ Income Score50JEPQ71.6SCLZ

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

JEPQ 50

SCLZ 71.6

0.3, the lowest in this set 99.7, the highest

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 →

Method

Risk and return

Mar 8, 2024 to Oct 30, 2026 · 138 weekly returns

JEPQ SCLZ

Return

Total return edge JEPQ +44.3% +35.2%

Annualized edge JEPQ +14.8% +12.0%

Price return edge SCLZ +8.3% +11.0%

Risk

Volatility edge SCLZ 14.6% 10.0%

Max drawdown edge SCLZ −18.5% −10.5%

Downside capture 79.0% 74.2%

Beta 0.71 0.64

Risk-adjusted

Sharpe edge SCLZ (slight) 0.72 0.75

Sortino edge SCLZ (slight) 1.03 1.09

Treynor 0.168 0.119

Calmar edge SCLZ 0.80 1.15

Against the benchmark

Alpha −0.1% a year −0.5% a year

Alpha t-stat −0.06 −0.19

Information ratio −0.67 −0.77

Tracking error 7.7% 6.6%

Each against its own benchmark: JEPQ against QQQ, May 13, 2022 to Oct 30, 2026; SCLZ against SPY, Mar 8, 2024 to Oct 30, 2026.

Reading

From Mar 2024 to Oct 2026, JEPQ returned more: +44.3% to +35.2%. SCLZ swung less: 10.0% to 14.6%. SCLZ fell less at its worst: −10.5% to −18.5%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: JEPQ vs SCLZ: Dividend Yield & Total Return
Measure	JEPQ	SCLZ	Edge	How it is measured
Return
Total return	+44.3%	+35.2%	JEPQ	Price change plus distributions, reinvested.
Annualized	+14.8%	+12.0%	JEPQ	Total return as a yearly rate.
Price return	+8.3%	+11.0%	SCLZ	Price change alone, distributions left out.
Risk
Volatility	14.6%	10.0%	SCLZ	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	10.2%	6.9%	SCLZ	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−18.5%	−10.5%	SCLZ	Deepest fall from a high to the low after it.
Upside capture	56.8%	58.8%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	79.0%	74.2%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.71	0.64	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.92	0.84	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.72	0.75	SCLZ (slight)	Return above Treasury bills per unit of volatility.
Sortino	1.03	1.09	SCLZ (slight)	Return above Treasury bills per unit of downside deviation.
Treynor	0.168	0.119		Return above Treasury bills per unit of beta.
Calmar	0.80	1.15	SCLZ	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	−0.5% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.06	−0.19	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−4.3% to +4.1%	−5.4% to +4.5%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.67	−0.77		Return against its benchmark per unit of tracking error.
Tracking error	7.7%	6.6%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 138 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

47%

By the books each fund has filed, JEPQ and SCLZ hold 47% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

47% in common

Positions both hold · largest shared weight first JEPQ SCLZ

APPLE INC COMMON STOCK 6.76% 6.20%

NVIDIA CORP COMMON STOCK 7.09% 6.03%

MICRON TECHNOLOGY INC 4.19% 7.95%

ALPHABET INC-CL C 4.10% 5.22%

AMAZON.COM INC COMMON 3.98% 3.77%

MICROSOFT CORP COMMON 5.61% 3.74%

ADVANCED MICRO DEVICES 3.31% 5.18%

META PLATFORMS INC COMMON 2.70% 3.36%

BROADCOM INC COMMON 1.95% 4.74%

TESLA INC COMMON STOCK 2.40% 1.81%

WALMART INC COMMON STOCK 2.03% 1.49%

PALANTIR TECHNOLOGIES INC 1.25% 1.43%

Only in one fund ↓

Only in JEPQ

SPACE EXPLORATION TECHNOLOGIES CORP 1.61%

LAM RESEARCH CORP COMMON 1.58%

PALO ALTO NETWORKS INC 1.28%

ANALOG DEVICES INC 1.20%

SEAGATE TECHNOLOGY 1.20%

Nasdaq-100 equity-linked note 12 1.17%

Nasdaq-100 equity-linked note 13 1.17%

Nasdaq-100 equity-linked note 14 1.17%

Only in SCLZ

ELI LILLY & COMPANY 3.88%

JP MORGAN CHASE & COMPANY 3.53%

BERKSHIRE HATHAWAY INC 3.12%

GE AEROSPACE 2.76%

JOHNSON & JOHNSON 2.43%

VISA INC 2.29%

EXXON MOBIL CORP 1.94%

CATERPILLAR INC 1.86%

Check overlap with more funds →

Side by side

JEPQ JPMorgan Nasdaq Equity Premium Income ETF · Writes calls through equity-linked notes (ELNs) on the Nasdaq-100, paying monthly SCLZ Swan Enhanced Dividend Income ETF · Dividend stocks with call overlay on SPY, paying monthly

Issuer JPMorgan Swan

Strategy covered call dividend stocks with call overlay

Benchmark Nasdaq-100 (QQQ) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 11.3% 8.7%

Expense ratio 0.35% 0.79%

Cash paid, 1 year 11.9% 8.5%

Price change, 1 year −1.9% +1.6%

Total return, 1 year +10.4% +10.6%

Benchmark return, 1 year +12.3% +14.8%

Ahead or behind −1.9 pts −4.2 pts

Return of capital, latest estimate not published not published

Age 4.5 years 2.7 years

Net assets, JEPQ as of Nov 3, 2026 and SCLZ as of Jun 30, 2026 $42.1bn $20m

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: JEPQ vs SCLZ: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JEPQ	SCLZ	JEPQ	SCLZ	JEPQ	SCLZ
3 months	−0.9%	0.0%	3.0%	2.1%	+2.6 pts	+0.2 pts
6 months	+2.3%	+4.4%	6.2%	4.3%	+2.6 pts	−0.6 pts
1 year	+10.4%	+10.6%	11.9%	8.5%	−1.8 pts	−4.2 pts
3 years	+66.7%	–	38.3%	–	−24.7 pts	–
Since launchNot the same days: JEPQ May 2022 · SCLZ Feb 2024	+85.2%	+35.4%	51.4%	21.2%	−30.6 pts	−20.8 pts

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

Client brief

No client brief for this pair: the two funds' holdings are dated 126 days apart.

Alert

About each fund

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.

SCLZ

Over the year to Nov 4, 2026, SCLZ paid 8.5% of its starting value in cash distributions while its price rose 1.6%. With every distribution reinvested, the fund returned +10.6%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.7%, paid monthly.

Questions people ask

Which paid more, JEPQ or SCLZ?: Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting price in cash and SCLZ paid 8.5%, 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 SCLZ?: With every distribution reinvested, JEPQ returned +10.4% and SCLZ +10.6% over the year to Nov 4, 2026.
Which is cheaper, JEPQ or SCLZ?: JEPQ charges 0.35% a year and SCLZ charges 0.79%, so JEPQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

JEPQ vs QUSA JEPQ vs BIGY JEPQ vs NLSI JEPQ vs TPRY SCLZ vs QQQI SCLZ vs QYLD SCLZ vs QDTY SCLZ vs QRMI

Where to next

Nasdaq-100 (QQQ) →S&P 500 (SPY) →JEPQ on its own →SCLZ on its own →JEPQ dividend history →JEPQ holdings →SCLZ dividend history →SCLZ holdings →Method →Standards and sources →

Sources and dates

JEPQ filings on SEC EDGAR ↗

JEPQ prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

SCLZ filings on SEC EDGAR ↗

SCLZ prospectus with the expense ratio (SEC) ↗

Swan website ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, JEPQ against SCLZ, data as of Nov 4, 2026. https://etfiq.com/compare/income/jepq-vs-sclz

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