Which paid more, JEPQ or XRMI?

Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting price in cash and XRMI paid 11.9%, so the two paid the same at the precision this page prints. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, JEPQ or XRMI?

With every distribution reinvested, JEPQ returned +10.4% and XRMI +8.7% over the year to Nov 4, 2026.

Which is cheaper, JEPQ or XRMI?

JEPQ charges 0.35% a year and XRMI charges 0.60%, so JEPQ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

JEPQ vs XRMI: 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 XRMI’s 11.9%, and returned more with it reinvested.

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Net assets: $42.1bn on Nov 3, 2026 for JPMorgan Nasdaq Equity Premium Income ETF, and $62m on Oct 12, 2026 for Global X S&P 500 Risk Managed Income ETF.

JEPQ on its own →XRMI on its own →

At a glance

11.9%

JEPQ cash paid, 1 year

11.9%

XRMI cash paid, 1 year

+10.4%

JEPQ total return, 1 year

+8.7%

XRMI 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.

XRMI · 1 year to Nov 4, 2026 6.1 pts behind SPY

XRMI

+8.7%

SPY

+14.8%

6.1 pts behind SPY

XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

XRMI

+8.7%

11.9% of it arrived as cash

6.1 pts behind SPY

Total return, distributions reinvested

6.1 pts behind SPY

XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

XRMI

+8.7%

11.9% cash

6.1 pts behind SPY

11.9% of it arrived as cash. Both charts share one scale, with zero at the line. XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

JEPQ costs 0.25 points a year less; their one-year returns differ by 1.7 points; JEPQ is far larger, $44.6bn against $62m.

Points (pts) are percentage points.

JEPQ vs XRMI: Dividend Yield & Total Return
Measure	JEPQ	XRMI
Paid and earned
Measure	JEPQ	XRMI
Total return, 1 year	+10.4%	+8.7%
Price change, 1 year	fell 1.9%	fell 3.8%
Return of capital, issuer estimate		95% of the Sep 24, 2026 payment
Against its benchmark
Measure	JEPQ	XRMI
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Cost and size
Measure	JEPQ	XRMI
Expense ratio	0.35%	0.60%
Net assets, as of Oct 12, 2026	$44.6bn	$62m
Holdings
Measure	JEPQ	XRMI
Holdings in common	50%

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

IQ Income Score50JEPQ45.2XRMI

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

XRMI 45.2

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

May 13, 2022 to Oct 30, 2026 · 233 weekly returns

JEPQ XRMI

Return

Total return edge JEPQ +95.6% +21.7%

Annualized edge JEPQ +16.2% +4.5%

Price return edge JEPQ +19.2% −29.2%

Risk

Volatility edge XRMI 15.6% 6.2%

Max drawdown edge XRMI −18.5% −9.0%

Downside capture 79.0% 44.1%

Beta 0.71 0.33

Risk-adjusted

Sharpe edge JEPQ 0.76 0.03

Sortino edge JEPQ 1.12 0.04

Treynor 0.168 −0.023

Calmar edge JEPQ 0.87 0.50

Against the benchmark

Alpha −0.1% a year −3.6% a year

Alpha t-stat −0.06 −2.27

Information ratio −0.67 −0.83

Tracking error 7.7% 11.3%

Each against its own benchmark: JEPQ against QQQ, May 13, 2022 to Oct 30, 2026; XRMI against SPY, Sep 3, 2021 to Oct 30, 2026.

Reading

From May 2022 to Oct 2026, JEPQ returned more: +95.6% to +21.7%. XRMI swung less: 6.2% to 15.6%. XRMI fell less at its worst: −9.0% to −18.5%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: JEPQ vs XRMI: Dividend Yield & Total Return
Measure	JEPQ	XRMI	Edge	How it is measured
Return
Total return	+95.6%	+21.7%	JEPQ	Price change plus distributions, reinvested.
Annualized	+16.2%	+4.5%	JEPQ	Total return as a yearly rate.
Price return	+19.2%	−29.2%	JEPQ	Price change alone, distributions left out.
Risk
Volatility	15.6%	6.2%	XRMI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	10.6%	4.8%	XRMI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−18.5%	−9.0%	XRMI	Deepest fall from a high to the low after it.
Upside capture	56.8%	22.9%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	79.0%	44.1%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.71	0.33	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.92	0.68	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.76	0.03	JEPQ	Return above Treasury bills per unit of volatility.
Sortino	1.12	0.04	JEPQ	Return above Treasury bills per unit of downside deviation.
Treynor	0.168	−0.023		Return above Treasury bills per unit of beta.
Calmar	0.87	0.50	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	−3.6% a year	JEPQ not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.06	−2.27	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−4.3% to +4.1%	−6.8% to −0.5%	JEPQ includes zero	The 95% range for the yearly alpha.
Information ratio	−0.67	−0.83		Return against its benchmark per unit of tracking error.
Tracking error	7.7%	11.3%	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

50%

By the books each fund has filed, JEPQ and XRMI hold 50% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

50% in common

Positions both hold · largest shared weight first JEPQ XRMI

NVIDIA CORP COMMON STOCK 7.09% 7.63%

APPLE INC COMMON STOCK 6.76% 7.12%

MICROSOFT CORP COMMON 5.61% 5.42%

AMAZON.COM INC COMMON 3.98% 4.17%

ALPHABET INC-CL C 4.10% 2.64%

BROADCOM INC COMMON 1.95% 2.89%

META PLATFORMS INC COMMON 2.70% 1.92%

MICRON TECHNOLOGY INC 4.19% 1.46%

TESLA INC COMMON STOCK 2.40% 1.37%

ADVANCED MICRO DEVICES 3.31% 1.22%

WALMART INC COMMON STOCK 2.03% 0.76%

CISCO SYSTEMS INC COMMON 1.17% 0.72%

Only in one fund ↓

Only in JEPQ

SPACE EXPLORATION TECHNOLOGIES CORP 1.61%

Nasdaq-100 equity-linked note 12 1.17%

Nasdaq-100 equity-linked note 13 1.17%

Nasdaq-100 equity-linked note 14 1.17%

Nasdaq-100 equity-linked note 15 1.16%

Nasdaq-100 equity-linked note 17 1.16%

Nasdaq-100 equity-linked note 11 1.15%

Nasdaq-100 equity-linked note 16 1.15%

Only in XRMI

ALPHABET INC. 3.28%

JPMORGAN CHASE & CO. 1.48%

BERKSHIRE HATHAWAY INC. 1.47%

ELI LILLY AND COMPANY 1.42%

EXXONMOBIL HOLDINGS CORPORATION 1.01%

JOHNSON & JOHNSON 0.97%

VISA INC. 0.95%

BANK OF AMERICA CORPORATION 0.63%

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 XRMI Global X S&P 500 Risk Managed Income ETF · Option income on SPY, paying monthly

Issuer JPMorgan Global X

Strategy covered call option income

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

Pays monthly monthly

Payout rate, annualized 11.3% 10.6%

Expense ratio 0.35% 0.60%

Cash paid, 1 year 11.9% 11.9%

Price change, 1 year −1.9% −3.8%

Total return, 1 year +10.4% +8.7%

Benchmark return, 1 year +12.3% +14.8%

Ahead or behind −1.9 pts −6.1 pts

Return of capital, latest estimate not published 95%

Age 4.5 years 5.2 years

Net assets, JEPQ as of Nov 3, 2026 and XRMI as of Oct 12, 2026 $42.1bn $62m

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 XRMI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JEPQ	XRMI	JEPQ	XRMI	JEPQ	XRMI
3 months	−0.9%	+1.6%	3.0%	2.9%	+2.6 pts	+1.8 pts
6 months	+2.3%	+5.4%	6.2%	6.0%	+2.6 pts	+0.4 pts
1 year	+10.4%	+8.7%	11.9%	11.9%	−1.8 pts	−6.1 pts
3 years	+66.7%	+30.8%	38.3%	35.1%	−24.7 pts	−52.2 pts
Since launchNot the same days: JEPQ May 2022 · XRMI Aug 2021	+85.2%	+17.6%	51.4%	45.0%	−30.6 pts	−66.7 pts

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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.

XRMI

Over the year to Nov 4, 2026, XRMI paid 11.9% of its starting value in cash distributions while its price fell 3.8%. With every distribution reinvested, the fund returned +8.7%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 6.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.6%, paid monthly. Global X estimates that 95% of the distribution paid Sep 24, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, JEPQ or XRMI?: Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting price in cash and XRMI paid 11.9%, so the two paid the same at the precision this page prints. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, JEPQ or XRMI?: With every distribution reinvested, JEPQ returned +10.4% and XRMI +8.7% over the year to Nov 4, 2026.
Which is cheaper, JEPQ or XRMI?: JEPQ charges 0.35% a year and XRMI charges 0.60%, so JEPQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

JEPQ vs BIGY JEPQ vs APRJ JEPQ vs APRH JEPQ vs DRKY XRMI vs QQQI XRMI vs QYLD XRMI vs QDTE XRMI vs QQQY

Where to next

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

Sources and dates

JEPQ filings on SEC EDGAR ↗

JEPQ prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

XRMI filings on SEC EDGAR ↗

XRMI prospectus with the expense ratio (SEC) ↗

XRMI 19a-1 distribution notice ↗

Global X page for XRMI ↗

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 XRMI, data as of Nov 4, 2026. https://etfiq.com/compare/income/jepq-vs-xrmi

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