JEPI and ETV are both covered call ETFs tracking the same benchmark, but with different approaches. JEPI offers a 8.20% yield, while ETV provides a 7.99% 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
JPMorgan Equity Premium Income ETF
6.90
Overall Score
Eaton Vance Tax-Managed Buy-Write Opportunities
5.96
Overall Score
| Criteria | JEPI | ETV |
|---|---|---|
| Overall Score | 6.90 5.96 | |
| Total Return (25%) | 5.05 5.09 | |
| Downside Protection (25%) | 8.27 3.71 | |
| Upside Participation (25%) | 6.00 7.82 | |
| Consistency (15%) | 8.12 9.89 | |
| Expense Ratio (5%) | 8.12 1.38 | |
| Liquidity (5%) | 8.89 4.98 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | JEPI | ETV |
|---|---|---|
| Expense Ratio | 0.350% | 0.890% |
| Inception Date | May 20, 2020 | Sep 30, 2005 |
| Issuer | JPMorgan | Eaton Vance |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 5/5 stars |
Cut volatility by a third (10.0% vs 15.7%) and the 2022 loss to -3.5%, but captured only 60% of S&P 500 upside, so five-year return is half of SPY's.
Investor Profile:
JEPI is an actively managed JPMorgan fund that holds a low-volatility basket of about 142 large-cap U.S. stocks. It earns option income through equity-linked notes (ELNs) on the S&P 500, about 15% of the portfolio against a 20% regulatory cap. The ELNs are unsecured bank obligations spread across at least six issuers. It pays monthly and charges 0.35%.
The call overlay costs upside (78% captured) without cushioning losses (95% down capture), and a 1.08% expense ratio adds to the drag.
Investor Profile:
ETV is a closed-end fund that holds two stock segments: one seeks to beat the S&P 500, the other the Nasdaq-100. It sells index call options continuously on at least 80% of each segment, with S&P 500 calls on the first and Nasdaq-100 calls on the second. The fund is tax-managed, uses no leverage, and pays monthly. Its shares trade at a discount to NAV of about 9%.
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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