FEPI and JEPQ are both covered call ETFs tracking the same benchmark, but with different approaches. FEPI offers a 24.67% yield, while JEPQ provides a 11.14% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.
Compare covered call ETFs with the same benchmark side by side
REX FANG & Innovation Equity Premium Income ETF
5.80
Overall Score
JPMorgan Nasdaq Equity Premium Income ETF
7.24
Overall Score
| Criteria | FEPI | JEPQ |
|---|---|---|
| Overall Score | 5.80 7.24 | |
| Total Return (25%) | 6.80 6.99 | |
| Downside Protection (25%) | — 6.30 | |
| Upside Participation (25%) | 8.70 7.24 | |
| Consistency (15%) | 9.43 8.54 | |
| Expense Ratio (5%) | 4.38 8.12 | |
| Liquidity (5%) | 5.88 8.31 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | FEPI | JEPQ |
|---|---|---|
| Expense Ratio | 0.650% | 0.350% |
| Inception Date | Oct 1, 2023 | May 3, 2022 |
| Issuer | REX Shares | JPMorgan |
| Distribution Frequency | Weekly | Monthly |
| Maturity Rating | 3/5 stars | 3/5 stars |
Pays a 24.7% TTM yield, but captured 114% of QQQ's down months and trails QQQ by 37 points since 2023.
Investor Profile:
FEPI holds the 15 stocks of the equal-weighted FANG & Innovation Index, rebalanced monthly. REX writes covered calls on individual stocks and invests the premium in money market instruments. Since May 2026 the fund pays weekly instead of monthly. REX states that current distributions are 100% estimated return of capital.
Captured 72% of Nasdaq-100 upside with 32% lower volatility (13.7% vs 20.0%) for an 11.1% yield, at a 44-point cost in total return since 2022.
Investor Profile:
JEPQ is an actively managed JPMorgan fund that holds about 111 large-cap stocks, mainly from the Nasdaq-100, selected with a data-driven process. It earns option income through equity-linked notes on the Nasdaq-100 rather than writing options directly. It pays monthly and charges 0.35%.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
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