JEPI and PUTW are both covered call ETFs tracking the same benchmark, but with different approaches. JEPI offers a 8.20% yield, while PUTW provides a n/a 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
WisdomTree PutWrite Strategy Fund
6.13
Overall Score
| Criteria | JEPI | PUTW |
|---|---|---|
| Overall Score | 6.90 6.13 | |
| Total Return (25%) | 5.05 3.71 | |
| Downside Protection (25%) | 8.27 6.98 | |
| Upside Participation (25%) | 6.00 5.96 | |
| Consistency (15%) | 8.12 8.82 | |
| Expense Ratio (5%) | 8.12 7.00 | |
| Liquidity (5%) | 8.89 5.91 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | JEPI | PUTW |
|---|---|---|
| Expense Ratio | 0.350% | 0.440% |
| Inception Date | May 20, 2020 | Feb 24, 2016 |
| Issuer | JPMorgan | WisdomTree |
| 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%.
Put-writing delivered 61% of S&P 500 upside and 63% of the downside, and the April 2025 index change limits how far its history can be trusted.
Investor Profile:
Since April 4, 2025 the fund trades under the ticker WTPI and tracks the Volos US Large Cap Target 2.5% PutWrite Index. It sells put options on SPY and holds U.S. Treasury bills as collateral, 96% T-bills and 4% a Treasury floating-rate fund as of October 2026. The index replaced the earlier CBOE PUT index approach, so earlier history reflects a different strategy. It pays monthly.
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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