Which is cheaper, JEPQ or XSPI?

JEPQ charges 0.35% a year and XSPI charges 0.98%, so JEPQ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

JEPQ vs XSPI: Dividend Yield & Total Return

JEPQ and XSPI both write options for income.

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Net assets: $42.1bn on Nov 3, 2026 for JPMorgan Nasdaq Equity Premium Income ETF, and $140m on Oct 28, 2026 for NEOS Boosted S&P 500 High Income ETF.

JEPQ on its own →XSPI on its own →

At a glance

11.9%

JEPQ cash paid, 1 year

13.9%

XSPI cash paid, since launch, Feb 3, 2026

+10.4%

JEPQ total return, 1 year

+12.4%

XSPI total return, since launch, Feb 3, 2026

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.

XSPI · since launch to Nov 4, 2026 About even with SPY

XSPI

+12.4%

SPY

+12.1%

About even with SPY

XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.

SPY

+12.1%

XSPI

+12.4%

13.9% of it arrived as cash

about even with SPY

Total return, distributions reinvested

About even with SPY

XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.

SPY

+12.1%

XSPI

+12.4%

13.9% as cash

about even with SPY

13.9% of it arrived as cash. Both charts share one scale, with zero at the line. XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

JEPQ costs 0.63 points a year less; JEPQ is far larger, $44.2bn against $140m.

Points (pts) are percentage points.

JEPQ vs XSPI: Dividend Yield & Total Return
Measure	JEPQ	XSPI
Paid and earned
Measure	JEPQ	XSPI
Total return, 1 year	+10.4%	not published
Price change	fell 1.9% (1 year)	fell 2.3% (since Feb 3, 2026)
Return of capital, issuer estimate		98% of the Oct 9, 2026 payment
Against its benchmark
Measure	JEPQ	XSPI
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Cost and size
Measure	JEPQ	XSPI
Expense ratio	0.35%	0.98%
Net assets, as of Oct 28, 2026	$44.2bn	$140m
Holdings
Measure	JEPQ	XSPI
Holdings in common	50%

Method

What they share

50%

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

50%

0 half 100%

half

50% in common

Positions both hold · largest shared weight first JEPQ XSPI

NVIDIA CORP COMMON STOCK 7.09% 8.10%

APPLE INC COMMON STOCK 6.76% 7.92%

MICROSOFT CORP COMMON 5.61% 6.26%

AMAZON.COM INC COMMON 3.98% 3.98%

META PLATFORMS INC COMMON 2.70% 2.14%

ALPHABET INC-CL C 4.10% 2.12%

BROADCOM INC COMMON 1.95% 2.52%

TESLA INC COMMON STOCK 2.40% 1.78%

MICRON TECHNOLOGY INC 4.19% 1.49%

ADVANCED MICRO DEVICES 3.31% 1.23%

WALMART INC COMMON STOCK 2.03% 0.87%

COSTCO WHOLESALE CORP 1.29% 0.69%

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 XSPI

Alphabet Inc 2.66%

Eli Lilly & Co 1.79%

Berkshire Hathaway Inc 1.65%

JPMORGAN CHASE & CO. 1.45%

ExxonMobil Holdings Corp 1.20%

SPX US 01/15/27 C7695 1.12%

Visa Inc 1.10%

Johnson & Johnson 1.03%

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 XSPI NEOS Boosted S&P 500 High Income ETF · Option income on SPY, paying monthly

Issuer JPMorgan NEOS

Strategy covered call option income

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

Pays monthly monthly

Payout rate, annualized 11.3% 16.6%

Expense ratio 0.35% 0.98%

Cash paid, 1 year 11.9% 13.9% (since launch, Feb 3, 2026)

Price change, 1 year −1.9% −2.3% (since launch, Feb 3, 2026)

Total return, 1 year +10.4% +12.4% (since launch, Feb 3, 2026)

Benchmark return, 1 year +12.3% +12.1% (since launch, Feb 3, 2026)

Ahead or behind −1.9 pts +0.3 pts (since launch, Feb 3, 2026)

Return of capital, latest estimate not published 98%

Age 4.5 years 274 days

Net assets, JEPQ as of Nov 3, 2026 and XSPI as of Oct 28, 2026 $42.1bn $140m

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 XSPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JEPQ	XSPI	JEPQ	XSPI	JEPQ	XSPI
3 months	−0.9%	+1.1%	3.0%	4.2%	+2.6 pts	+1.2 pts
6 months	+2.3%	+7.0%	6.2%	8.5%	+2.6 pts	+2.0 pts
1 year	+10.4%	–	11.9%	–	−1.8 pts	–
3 years	+66.7%	–	38.3%	–	−24.7 pts	–
Since launchNot the same days: JEPQ May 2022 · XSPI Feb 2026	+85.2%	+12.4%	51.4%	13.9%	−30.6 pts	+0.3 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.

XSPI

Over the period from its first trade on Feb 3, 2026 to Nov 4, 2026, XSPI paid 13.9% of its starting value in cash distributions while its price fell 2.3%. With every distribution reinvested, the fund returned +12.4%. S&P 500 (SPY) returned +12.1% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 16.6%, paid monthly. NEOS estimates that 98% of the distribution paid Oct 9, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which is cheaper, JEPQ or XSPI?: JEPQ charges 0.35% a year and XSPI charges 0.98%, so JEPQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

JEPQ vs FTHI JEPQ vs SPYI JEPQ vs SEPI JEPQ vs EGGY XSPI vs QQQI XSPI vs QYLD XSPI vs QDTE XSPI vs QYLG

Where to next

Nasdaq-100 (QQQ) →S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →JEPQ on its own →XSPI on its own →JEPQ dividend history →JEPQ holdings →XSPI dividend history →XSPI holdings →Method →Standards and sources →

Sources and dates

JEPQ filings on SEC EDGAR ↗

JEPQ prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

XSPI filings on SEC EDGAR ↗

XSPI prospectus with the expense ratio (SEC) ↗

XSPI 19a-1 distribution notice ↗

NEOS page for XSPI ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

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

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