JEPI vs QYLD ETF Comparison: AI Score, Valuation, Performance and Upside
JEPI and QYLD both convert equity exposure into income by selling call options, but the terms differ materially. JEPI writes out-of-the-money calls on part of its exposure and actively selects lower-volatility stocks, retaining some upside. QYLD writes at-the-money calls on its full Nasdaq-100 exposure, producing higher distributions while giving up nearly all appreciation.
Use this JEPI vs QYLD comparison to understand the trade you are making. Selling calls converts potential appreciation into current cash. How much you keep depends on where the strike sits and how much of the portfolio is written against. QYLD maximises income and minimises retained upside; JEPI keeps more of both a moderated return and its volatility.
JEPI holds the edge across 3 of 5 key metrics in this comparison. QYLD has delivered stronger 1-year price return (+24.07% vs +8.54% for JEPI).
- Want elevated monthly income while retaining some equity upside
- Value active selection toward lower-volatility holdings
- Understand that distributions fluctuate with option premiums
- Accept limited participation in strong rallies and structural complexity
- Prioritise the highest current distribution over total return
- Want a simple, transparent, fully systematic strategy
- Do not need to participate in market appreciation
- Accept full downside exposure with nearly all upside surrendered
| Metric | JEPI | QYLD |
|---|---|---|
| ETF scorei | 61.0 | 76.0 |
| Latest closei | $56.76 | $18.55 |
| 1M returni | -1.77% | +3.19% |
| 6M returni | +6.56% | +17.43% |
| 1Y returni | +8.54% | +24.07% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | JEPI | QYLD |
|---|---|---|
| 1Y ago | $11.8K (+18.0%) started 2025-09-25 | $14.08K (+40.8%) started 2025-09-25 |
| 5Y ago | $24.58K (+145.8%) started 2021-09-27 | $35.43K (+254.3%) started 2021-09-27 |
| 10Y ago | $39.44K (+294.4%) started 2020-05-21 | $204.73K (+1947.3%) started 2016-09-26 |
Hypothetical — past performance does not guarantee future results.
| Metric | JEPI | QYLD |
|---|---|---|
| Expense ratioi | 0.35% | 0.60% |
| Total assets (AUM)i | $46.16B | $8.32B |
| Dividend yieldi | 7.97% | 9.67% |
| Trailing P/Ei | 25.23 | 29.65 |
| Betai | 0.53 | 0.61 |
| 52-week change | 8.54% | 24.07% |
| Metric | JEPI | QYLD |
|---|---|---|
| 1Y returni | +8.54% | +24.07% |
| 6M returni | +6.56% | +17.43% |
| 1M returni | -1.77% | +3.19% |
| 1Y Sharpe ratio | 0.50 | 1.59 |
| Betai | 0.53 | 0.61 |
| Dividend yieldi | 7.97% | 9.67% |
| 5Y CAGR | +7.51% | +8.72% |
Over the past year, JEPI and QYLD have moved moderately in the same direction (correlation of 0.54), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | JEPI | QYLD |
|---|---|---|---|
| 1Y | Growthi | +8.54% | +24.07% |
| CAGRi | +8.55% | +24.09% | |
| Volatilityi | 8.09% | 11.21% | |
| Sharpe ratioi | 0.50 | 1.59 | |
| Sortino ratioi | 0.72 | 2.39 | |
| Max drawdowni | 6.68% | 5.78% | |
| Current drawdowni | 1.77% | 0.00% | |
| Avg drawdowni | 1.72% | 0.67% | |
| Ulcer Indexi | 2.41% | 1.24% | |
| Max daily dropi | 1.61% | 1.97% | |
| Max wkly dropi | 2.46% | 3.52% | |
| 5Y | Growthi | +43.56% | +51.84% |
| CAGRi | +7.51% | +8.72% | |
| Volatilityi | 11.09% | 15.04% | |
| Sharpe ratioi | 0.30 | 0.33 | |
| Sortino ratioi | 0.42 | 0.46 | |
| Max drawdowni | 13.71% | 24.60% | |
| Current drawdowni | 1.77% | 0.00% | |
| Avg drawdowni | 2.50% | 5.57% | |
| Ulcer Indexi | 3.74% | 8.33% | |
| Max daily dropi | 5.56% | 5.82% | |
| Max wkly dropi | 9.92% | 10.69% | |
| 10Y | Growthi | +94.53% | +159.56% |
| CAGRi | +11.05% | +10.01% | |
| Volatilityi | 10.64% | 15.62% | |
| Sharpe ratioi | 0.62 | 0.40 | |
| Sortino ratioi | 0.87 | 0.54 | |
| Max drawdowni | 13.71% | 24.75% | |
| Current drawdowni | 1.77% | 0.00% | |
| Avg drawdowni | 2.10% | 4.18% | |
| Ulcer Indexi | 3.36% | 6.90% | |
| Max daily dropi | 5.56% | 10.23% | |
| Max wkly dropi | 9.92% | 16.04% |
| Category | JEPI | QYLD |
|---|---|---|
| Fund name | JPMorgan Equity Premium Income ETF | Global X NASDAQ 100 Covered Call ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.35% | 0.60% |
| Total assets (AUM)i | $46.16B | $8.32B |
| Dividend yieldi | 7.97% | 9.67% |
- Writes out-of-the-money calls, so some equity upside is retained rather than capped immediately
- Underlying stock selection is actively managed toward lower volatility holdings
- Monthly distributions have generally been well above broad equity yields
- Very high monthly distributions from selling at-the-money options on a volatile index
- Mechanically simple and transparent strategy
- Higher option premiums because the Nasdaq-100 is more volatile than broad indexes
- Upside is still limited relative to simply owning the index in strong rallies
- Distributions vary with option premiums, which fall when volatility is low
- The equity-linked note structure adds counterparty and complexity considerations
- Writing at-the-money calls on the full portfolio surrenders nearly all upside in rising markets
- Downside is fully retained, so the risk profile is asymmetric against the holder
- Total return has trailed the underlying index substantially over strong market periods
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