Which paid more, JEPQ or TCAL?

Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting price in cash and TCAL paid 11.4%, 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 TCAL?

With every distribution reinvested, JEPQ returned +10.4% and TCAL +11.2% over the year to Nov 4, 2026.

Which is cheaper, JEPQ or TCAL?

JEPQ charges 0.35% a year and TCAL charges 0.34%, so TCAL is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

JEPQ vs TCAL: 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 TCAL’s 11.4%, though TCAL 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 $324m for T. Rowe Price Capital Appreciation Premium Income ETF.

JEPQ on its own →TCAL on its own →

At a glance

11.9%

JEPQ cash paid, 1 year

11.4%

TCAL cash paid, 1 year

+10.4%

JEPQ total return, 1 year

+11.2%

TCAL 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.

TCAL · 1 year to Nov 4, 2026 3.4 pts behind its own stocks

TCAL

+11.2%

Own

+14.6%

3.4 pts behind its own stocks

TCAL over 1 year: paid 11.4%, price −1.2%, total +11.2%, its own stocks +14.6%, −3.4 pts. Data to Nov 4, 2026.

its own stocks

+14.6%

TCAL

+11.2%

11.4% of it arrived as cash

3.4 pts behind its own stocks

Total return, distributions reinvested

3.4 pts behind its own stocks

TCAL over 1 year: paid 11.4%, price −1.2%, total +11.2%, its own stocks +14.6%, −3.4 pts. Data to Nov 4, 2026.

its own stocks

+14.6%

TCAL

+11.2%

11.4% as cash

11.4% of it arrived as cash. Both charts share one scale, with zero at the line. TCAL over 1 year: paid 11.4%, price −1.2%, total +11.2%, its own stocks +14.6%, −3.4 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

TCAL costs 0.01 points a year less; their one-year returns differ by 0.8 points; JEPQ is far larger, $42.1bn against $324m.

Points (pts) are percentage points.

JEPQ vs TCAL: Dividend Yield & Total Return
Measure	JEPQ	TCAL
Paid and earned
Measure	JEPQ	TCAL
Total return, 1 year	+10.4%	+11.2%
Price change, 1 year	fell 1.9%	fell 1.2%
Against its benchmark
Measure	JEPQ	TCAL
Benchmark	Nasdaq-100, measured through QQQ	its own stocks
Cost and size
Measure	JEPQ	TCAL
Expense ratio	0.35%	0.34%
Net assets, as of Nov 3, 2026	$42.1bn	$324m
Holdings
Measure	JEPQ	TCAL
Holdings in common	16%

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

IQ Income Score50JEPQ54.8TCAL

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

TCAL 54.8

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

What they share

16%

By the books each fund has filed, JEPQ and TCAL hold 16% 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

16% in common

Positions both hold · largest shared weight first JEPQ TCAL

AMAZON.COM INC COMMON 3.98% 1.55%

MICROSOFT CORP COMMON 5.61% 1.51%

COSTCO WHOLESALE CORP 1.29% 1.21%

CISCO SYSTEMS INC COMMON 1.17% 1.15%

ADVANCED MICRO DEVICES 3.31% 1.05%

META PLATFORMS INC COMMON 2.70% 1.02%

BROADCOM INC COMMON 1.95% 0.96%

NETFLIX INC COMMON STOCK 1.13% 0.96%

WALMART INC COMMON STOCK 2.03% 0.78%

LINDE PLC COMMON STOCK 0.75% 1.65%

PEPSICO INC COMMON STOCK 0.70% 1.17%

SYNOPSYS INC COMMON STOCK 0.53% 0.95%

Only in one fund ↓

Only in JEPQ

NVIDIA CORP COMMON STOCK 7.09%

APPLE INC COMMON STOCK 6.76%

MICRON TECHNOLOGY INC 4.19%

ALPHABET INC-CL C 4.10%

TESLA INC COMMON STOCK 2.40%

SPACE EXPLORATION TECHNOLOGIES CORP 1.61%

LAM RESEARCH CORP COMMON 1.58%

PALO ALTO NETWORKS INC 1.28%

Only in TCAL

DANAHER CORP 2.02%

WATERS CORP 1.99%

VERALTO CORP 1.89%

WASTE CONNECTIONS INC 1.82%

YUM BRANDS INC 1.73%

MCDONALD S CORP 1.71%

VISA INC-CLASS A SHARES 1.71%

LOCKHEED MARTIN CORP 1.61%

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 TCAL T. Rowe Price Capital Appreciation Premium Income ETF · Covered call on its own stocks, paying monthly

Issuer JPMorgan T. Rowe Price

Strategy covered call covered call

Benchmark Nasdaq-100 (QQQ) TCAL's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jun 30, 2026)

Pays monthly monthly

Payout rate, annualized 11.3% 13.0%

Expense ratio 0.35% 0.34%

Cash paid, 1 year 11.9% 11.4%

Price change, 1 year −1.9% −1.2%

Total return, 1 year +10.4% +11.2%

Benchmark return, 1 year +12.3% +14.6%

Ahead or behind −1.9 pts −3.4 pts

Return of capital, latest estimate not published not published

Age 4.5 years 1.6 years

Net assets, as of Nov 3, 2026 $42.1bn $324m

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 TCAL: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JEPQ	TCAL	JEPQ	TCAL	JEPQ	TCAL
3 months	−0.9%	+5.3%	3.0%	2.6%	+2.6 pts	−1.8 pts
6 months	+2.3%	+12.3%	6.2%	6.3%	+2.6 pts	−0.9 pts
1 year	+10.4%	+11.2%	11.9%	11.4%	−1.8 pts	−3.5 pts
3 years	+66.7%	–	38.3%	–	−24.7 pts	–
Since launchNot the same days: JEPQ May 2022 · TCAL Mar 2025	+85.2%	+12.0%	51.4%	16.9%	−30.6 pts	not measured

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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.

TCAL

Over the year to Nov 4, 2026, TCAL paid 11.4% of its starting value in cash distributions while its price fell 1.2%. With every distribution reinvested, the fund returned +11.2%. TCAL's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jun 30, 2026) returned +14.6% over the same days, so a holder was behind by 3.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 13.0%, paid monthly.

Questions people ask

Which paid more, JEPQ or TCAL?: Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting price in cash and TCAL paid 11.4%, 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 TCAL?: With every distribution reinvested, JEPQ returned +10.4% and TCAL +11.2% over the year to Nov 4, 2026.
Which is cheaper, JEPQ or TCAL?: JEPQ charges 0.35% a year and TCAL charges 0.34%, so TCAL is cheaper. Fees come from each fund's prospectus.

Other comparisons

JEPQ vs SCEP JEPQ vs JUDO JEPQ vs RNTY JEPQ vs CVRD TCAL vs QQQI TCAL vs QYLD TCAL vs QRMI TCAL vs KIQQ

Where to next

Nasdaq-100 (QQQ) →JEPQ on its own →TCAL on its own →JEPQ dividend history →JEPQ holdings →TCAL dividend history →TCAL holdings →Method →Standards and sources →

Sources and dates

JEPQ filings on SEC EDGAR ↗

JEPQ prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

TCAL filings on SEC EDGAR ↗

TCAL prospectus with the expense ratio (SEC) ↗

T. Rowe Price 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 TCAL, data as of Nov 4, 2026. https://etfiq.com/compare/income/jepq-vs-tcal

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