IQQQ and JEPQ are both covered call ETFs tracking the same benchmark, but with different approaches. IQQQ offers a 5.80% 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
ProShares Nasdaq-100 High Income ETF
5.70
Overall Score
JPMorgan Nasdaq Equity Premium Income ETF
7.24
Overall Score
| Criteria | IQQQ | JEPQ |
|---|---|---|
| Overall Score | 5.70 7.24 | |
| Total Return (25%) | 7.62 6.99 | |
| Downside Protection (25%) | 0.77 6.30 | |
| Upside Participation (25%) | 8.65 7.24 | |
| Consistency (15%) | 5.93 8.54 | |
| Expense Ratio (5%) | 5.62 8.12 | |
| Liquidity (5%) | 5.39 8.31 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | IQQQ | JEPQ |
|---|---|---|
| Expense Ratio | 0.550% | 0.350% |
| Inception Date | Mar 1, 2024 | May 3, 2022 |
| Issuer | ProShares | JPMorgan |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 3/5 stars | 3/5 stars |
Keeps 86% of Nasdaq-100 upside but also 96% of the downside, for a 5.8% yield, the lowest among Nasdaq income funds.
Investor Profile:
IQQQ tracks the Nasdaq-100 Daily Covered Call Index, which sells one-day call options every day on 100% of net assets. The fund does not trade options itself: it gains the exposure through swaps with Goldman Sachs International (72%) and BNP Paribas (28%). It holds Nasdaq-100 stocks, futures and a money market ETF, 108 positions in total. ProShares distributes monthly with a stated 6% annualized minimum yield.
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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