JEPQ vs SPYI: Performance, Holdings, Fees & Risk
JEPQ and SPYI are ETFs, but they can differ materially in exposure, yield, fees and risk. JEPQ is JPMorgan Nasdaq Equity Premium Income ETF, while SPYI is Neos S&P 500(R) High Income ETF. SPYI is broader by holdings count, with 508 positions versus 110 for JEPQ. JEPQ is more concentrated at the top, based on top-10 holdings weight. Current AlgovestIQ evidence has JEPQ ahead on AIQ Score, 52 versus 49.
What is the main difference between JEPQ and SPYI?
JEPQ puts 61% of its assets in Technology, while SPYI spreads across 11 sectors with none above 39%.
| Metric | JEPQ | SPYI |
|---|---|---|
| Fund | ||
| Expense ratio | 0.35% | 0.68% |
| Holdings | 110 | 508 |
| Top-10 concentration | 42.6% | 38% |
| Distribution yieldTrailing 12 months | 11.78% | 12.01% |
| Average volume | 6,303,017 | 2,696,728 |
| Performance | ||
| 1Y return | +0.7% | +0.2% |
| YTD return | +0.5% | +0.2% |
| Risk | ||
| Annualized volatility | 15.3% | 11.1% |
| Max drawdown (1Y) | -10.3% | -10.1% |
| Beta | 1.05 | 0.81 |
| Sharpe ratio | -0.10 | -0.19 |
| Sortino ratio | -0.14 | -0.26 |
| AlgovestIQ | ||
| AIQ Score | 52/100 | 49/100 |
| AIQ Edge Score | 5/10 | 4/10 |
| Momentum | 24/100 | 25/100 |
| Risk Resilience | 77/100 | 80/100 |
AlgovestIQ AIQ Comparison
JPMorgan Nasdaq Equity Premium Income ETF vs Neos S&P 500(R) High Income ETF
JEPQ leads
JEPQ leads by 3 AIQ points, primarily on Quality and Value, but the lead has narrowed from 8 points over 30 sessions.
Fragile: 1 of 4 evidence groups support JEPQ, its lead is narrowing, and its current signal state is conflicted.
JPMorgan Nasdaq Equity Premium Income ETF
Neos S&P 500(R) High Income ETF
The Algovestiq AIQ Score currently favors JEPQ over SPYI, 52 versus 49 as of Oct 24, 2026. JEPQ's advantage is driven primarily by stronger quality and value. JEPQ also shows the weaker technical structure relative to its 50-day moving average. 1 of 4 covered evidence groups favor JEPQ today, and the comparison is rated Fragile on stability: the AIQ gap is narrow at 3 points. JEPQ lead: Weakening — the AIQ differential moved from 8 to 3 points over 30 sessions.
Compare JPMorgan Nasdaq Equity Premium Income ETF and Neos S&P 500(R) High Income ETF across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
JEPQ vs SPYI: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | JEPQ | SPYI | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.35% | 0.68% | JEPQ |
| Broader diversificationNumber of holdings | 110 | 508 | SPYI |
| Lower concentrationWeight of the 10 largest holdings | 42.6% | 38% | SPYI |
| Higher incomeTrailing 12-month distribution yield | 11.78% | 12.01% | SPYI |
| Smaller drawdownsMax drawdown, 1 year | -10.3% | -10.1% | Similar |
| Lower volatilityAnnualized volatility, 1 year | 15.3% | 11.1% | SPYI |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare JEPQ and SPYI against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Quality69 vs 62JEPQ +7
- Value46 vs 41JEPQ +5
- Risk Resilience77 vs 80Even
- Momentum24 vs 25Even
1 of 4 evidence groups favor JEPQ. JEPQ’s edge is concentrated in quality and value.
What changed since the last close
Latest scored session 2026-10-23, compared against the prior scored session 2026-10-22.
Largest factor move: Value +1, not enough on its own to move the overall score.
No signal started or stopped since the prior session; its 6 active signals are unchanged.
Largest factor move: Momentum -14
New signals
- Keltner Channel Breakdown — bearish, volatility, short horizon
JEPQ's lead widened by 3 AIQ points in the latest session.
Deeper signal detail for each name lives on its own signals page — JEPQ and SPYI both carry a full feed there.
The central trade-off
JEPQ (JPMorgan Nasdaq Equity Premium Income ETF): the stronger current systematic profile, led by quality and value.
SPYI (Neos S&P 500(R) High Income ETF): the counter-case, on technicals.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | JEPQ | SPYI | Why it matters |
|---|---|---|---|
| Expense ratio | 0.35% | 0.68% | Lower is better — it compounds against you every year you hold. |
| Holdings | 110 | 508 | More holdings means broader diversification, not better returns. |
| Average volume | 6,303,017 | 2,696,728 | Liquidity — matters most if you trade size. |
| Annualized volatility | 15.3% | 11.1% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -10.3% | -10.1% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | -0.10 | -0.19 | Return per unit of risk. Higher is better. |
| Beta | 1.05 | 0.81 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
Where the exposure actually sits
Sector exposure for each fund, ordered by the size of the difference.
How much of the same holdings they own
JEPQ and SPYI share 49.39% of their weighted exposure across 81 common holdings.
25 holdings are unique to JEPQ, and 426 holdings are unique to SPYI. Owning both is a partial overlap: a majority of the capital is distinct, but the largest positions are shared.
JEPQ is the more concentrated of the two: its ten largest positions are 42.65% of the fund, against 37.98% for SPYI (110 holdings vs 508). Concentration cuts both ways — it is what drives outperformance when the top names work, and what makes the drawdown deeper when they do not.
Largest shared positions
| Holding | JEPQ | SPYI | Shared |
|---|---|---|---|
| NVDANVIDIA Corp | 7.22% | 8.02% | 7.22% |
| AAPLApple Inc | 6.63% | 7.27% | 6.63% |
| MSFTMicrosoft Corp | 5.16% | 5.57% | 5.16% |
| AMZNAMAZON.COM INC COMMON | 3.94% | 3.81% | 3.81% |
| GOOGALPHABET INC-CL C - | 4.77% | 2.41% | 2.41% |
| METAMETA PLATFORMS INC | 2.71% | 2.14% | 2.14% |
| AVGOBroadcom Inc | 2.05% | 2.6% | 2.05% |
| MUMICRON TECHNOLOGY INC | 4.67% | 1.65% | 1.65% |
Shared weight is the lower of the two positions — the portion of capital both funds genuinely have in the same security.
What JEPQ adds that SPYI doesn’t
| Holding | JEPQ | SPYI |
|---|---|---|
| MUMICRON TECHNOLOGY INC | 4.67% | 1.65% |
| AMDADVANCED MICRO DEVICES | 3.4% | 1.28% |
| LRCXLAM RESEARCH CORP COMMON | 1.98% | 0.56% |
| WMTWALMART INC COMMON STOCK | 1.67% | 0.71% |
| STXSEAGATE TECHNOLOGY | 1.66% | 0.28% |
| JPMORGAN PRIME MONEY | 1.4% | Not held |
What SPYI adds that JEPQ doesn’t
| Holding | SPYI | JEPQ |
|---|---|---|
| GOOGLAlphabet Inc | 2.96% | Not held |
| JPMJPMORGAN CHASE & CO. | 1.42% | Not held |
| BRK/BBerkshire Hathaway Inc | 1.41% | Not held |
| LLYEli Lilly & Co | 1.35% | Not held |
| XOMExxonMobil Holdings Corp | 1.03% | Not held |
| JNJJohnson & Johnson | 0.96% | Not held |
Each list is a fund’s largest positions by weight that the other fund does not hold, or holds at less than half the weight.
JEPQ vs SPYI: five-year payout growth
JEPQ began paying distributions in 2022, so it has no 2020-2025 growth rate to compare. SPYI began paying distributions in 2022, so it has no 2020-2025 growth rate to compare.
| Dividend metric | JEPQ | SPYI |
|---|---|---|
| 2025 annual payout | $6.123 | $6.146 |
| Peer rank | not ranked | not ranked |
Split-adjusted annual distributions, 2020–2025. Research as of Sep 19, 2026. Yield and expense ratio above are current values, not part of this window.
AIQ Agreement Matrix
1 of 4 covered evidence groups favor JEPQ. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | Even | 52 vs 49 |
| Fundamentals | Not covered | Not covered |
| Valuation | JEPQ | Value 46 vs 41 |
| Technicals | SPYI | Price vs 50-day -2.9% vs -1.7%; vs 200-day -1.1% vs -0.1% |
| Risk Resilience | Even | Risk Resilience 77 vs 80 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of JEPQ and SPYI and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is narrow at 3 points. (argues the conclusion is provisional)
- Only 1 of 4 covered evidence groups agree. (argues the conclusion is provisional)
- The leader's advantage has been narrowing. (argues the conclusion is provisional)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on JEPQ.
How the comparison changed
48 daily snapshots · Sep 6 – Oct 23JEPQ lead: Weakening — the AIQ differential moved from 8 to 3 points over 30 sessions.
- Today
- JEPQ +3
- 52 vs 49
- 7 sessions ago
- SPYI +4
- 55 vs 59
- 30 sessions ago
- JEPQ +8
- 66 vs 58
- 90 sessions ago
- Not covered
The lead changed hands 3 times in this window, most recently on Oct 21 when JEPQ moved ahead of SPYI.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
2 bullish / 2 bearish / 2 neutral, conflicted
Only JEPQ
- RSI Oversold - Potential Bounce — bullish, momentum, short horizon
3 bullish / 2 bearish / 2 neutral, conflicted
Only SPYI
- BB Lower Band Breach — bullish, volatility, short horizon
- 52-Week High Proximity — bullish, risk, long horizon (2.9%)
Both carry 5 more signals that do not separate them: Bollinger Band Squeeze, Golden Cross Active, ATR Contraction - Coiling, Keltner Channel Breakdown, MACD Bearish Crossover.
JEPQ leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Neither the price nor the AIQ Score moved enough in the latest session to confirm or contradict the other (price +0.02%, AIQ 0 points).
Price and the AIQ Score both moved down over the latest session (price -0.44%, AIQ -3 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1SPYI closes the Quality gap — currently 7 points behind, the largest single contributor to JEPQ's edge.
- 2SPYI's Bollinger Band Squeeze turns directional — it is neutral today and would confirm a change in trend.
- 3JEPQ's conflicting signal state resolves bearish — it currently carries 2 bullish and 2 bearish rules at once.
- 4The narrowing continues — the lead has already given back 5 points over 30 sessions, and a further 3-point move would eliminate JEPQ's advantage entirely.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
JEPQ leads 4 of 6 windows| Metric | JEPQ | SPYI |
|---|---|---|
| 1 week (5 sessions) | -0.6% | -1.3% |
| 1 month (20 sessions) | -4.6% | -1.9% |
| 3 months (63 sessions) | 1.2% | 0.6% |
| 6 months (126 sessions) | -0.9% | 0.8% |
| Year to date | 0.5% | 0.2% |
| 1 year (252 sessions) | 0.7% | 0.2% |
Technicals
SPYI has the stronger structure| Metric | JEPQ | SPYI |
|---|---|---|
| RSI (14) | 25.8 | 30.5 |
| ADX (14) | 28.3 | 19.8 |
| Price vs 50-day | -2.9% | -1.7% |
| Price vs 200-day | -1.1% | -0.1% |
| Volatility (1M, annualized) | 14.3% | 7.7% |
Risk
Split| Metric | JEPQ | SPYI |
|---|---|---|
| Beta | 1.05 | 0.81 |
| Sharpe ratio | -0.1 | -0.19 |
| Sortino ratio | -0.14 | -0.26 |
| Max drawdown | -10.3% | -10.1% |
| Current drawdown | -4.9% | -3.3% |
| Annualized volatility | 15.3% | 11.1% |
| Value at risk (95%) | -1.7% | -1.3% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between JEPQ and SPYI?
JEPQ puts 61% of its assets in Technology, while SPYI spreads across 11 sectors with none above 39%.
How much do JEPQ and SPYI overlap?
JEPQ and SPYI share 49.39% of their weighted exposure across 81 common holdings. 25 holdings are unique to JEPQ, and 426 holdings are unique to SPYI. Owning both is a partial overlap: a majority of the capital is distinct, but the largest positions are shared.
Which ETF is more diversified, JEPQ or SPYI?
SPYI holds more positions: 508 versus 110 for JEPQ.
Which has the lower expense ratio?
JEPQ has the lower expense ratio, 0.35% a year against 0.68% for SPYI.
Which ETF has the higher distribution yield?
SPYI, with a trailing 12-month distribution yield of 12.01% against 11.78% for JEPQ.
Which ETF has been more volatile?
JEPQ has been more volatile over the past year, at 15.3% annualized against 11.1% for SPYI.
Which ETF has had the smaller drawdown?
Their worst peak-to-trough falls over the past year are similar: -10.3% for JEPQ and -10.1% for SPYI.
Compare JEPQ and SPYI with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.