On a $100,000 investment, the illustrative pre-tax monthly average is about $673 for JEPI and $922 for JEPQ. These figures apply trailing distribution yields. They do not predict next month's payments.
JEPI and JEPQ are both U.S.-listed monthly distributing ETFs from J.P. Morgan. Start with what the same investment implies at recent yields, then examine how payments vary and what each fund owns.
JEPI vs. JEPQ at a glance
| Feature | JEPI | JEPQ |
|---|---|---|
| Main holdings | U.S. large-cap stocks | Nasdaq-100-oriented stocks |
| Technology exposure | Broader sector mix | Greater growth / tech exposure |
| Volatility profile | Seeks lower volatility than the S&P 500 | Seeks lower volatility than Nasdaq-100; tech concentration remains |
| Net annual expense ratio | 0.35% | 0.35% |
| Distributions | Monthly; variable amount | Monthly; variable amount |
| Trailing distribution yield | 8.08% | 11.06% |
What might the same investment pay each month?
- Investment
- USD 10,000 · 50,000 · 100,000 in each ETF
- Applied yield
- JEPI 8.08% · JEPQ 11.06%
- Figures checked
- Calculation
- Investment × annual distribution yield ÷ 12
- Currency and tax
- USD · pre-tax · no currency conversion
Illustrations use the displayed yield rounded to two decimals. Monthly averages are rounded to the nearest dollar.
| Investment | JEPI | JEPQ |
|---|---|---|
| $10,000 | About $67$808 yearly | About $92$1,106 yearly |
| $50,000 | About $337$4,040 yearly | About $461$5,530 yearly |
| $100,000 | About $673$8,080 yearly | About $922$11,060 yearly |
JEPQ has the higher monthly average in this example. Its greater technology-stock exposure means considering income alongside growth-stock price movements.
The Korean page uses separate round-number KRW examples; its amounts are not currency conversions of these investments. These estimates do not account for whole shares, purchase price, variable monthly payments, exchange rates or taxes. See the JEPI history and JEPQ history for the source data.
The last 12 monthly distributions
To compare monthly cash flow for an equal investment, divide each payment per share by that fund's reference share price. The chart shows those monthly rates. Hover or tap a bar for the actual dollar payment per share; the table lists all payments.
Monthly payment per share ÷ reference closing price on 2026-09-22 × 100 · grouped by pay date. This does not imply a purchase in every month at that price.
Hover or tap a bar to see its actual distribution per share. On a keyboard, focus the chart and use Left and Right Arrow or Home and End.
- 2025-10-03: JEPI 0.636%, JEPQ 0.729%
- 2025-11-05: JEPI 0.610%, JEPQ 0.777%
- 2025-12-03: JEPI 0.653%, JEPQ 0.904%
- 2026-01-05: JEPI 0.753%, JEPQ 0.942%
- 2026-02-04: JEPI 0.607%, JEPQ 0.761%
- 2026-03-04: JEPI 0.619%, JEPQ 0.832%
- 2026-04-06: JEPI 0.741%, JEPQ 0.913%
- 2026-05-05: JEPI 0.789%, JEPQ 0.966%
- 2026-06-03: JEPI 0.686%, JEPQ 0.923%
- 2026-07-06: JEPI 0.682%, JEPQ 1.041%
- 2026-08-05: JEPI 0.646%, JEPQ 1.152%
- 2026-09-03: JEPI 0.655%, JEPQ 1.116%
Swipe horizontally to see all 12 months on a small screen. Both funds use the same percentage scale.
| Pay date | JEPI | JEPQ |
|---|---|---|
| 2025-10-03 | 0.36102 | 0.44612 |
| 2025-11-05 | 0.34636 | 0.47553 |
| 2025-12-03 | 0.37060 | 0.55323 |
| 2026-01-05 | 0.42709 | 0.57610 |
| 2026-02-04 | 0.34443 | 0.46572 |
| 2026-03-04 | 0.35134 | 0.50900 |
| 2026-04-06 | 0.42050 | 0.55860 |
| 2026-05-05 | 0.44761 | 0.59095 |
| 2026-06-03 | 0.38921 | 0.56444 |
| 2026-07-06 | 0.38716 | 0.63658 |
| 2026-08-05 | 0.36664 | 0.70497 |
| 2026-09-03 | 0.37142 | 0.68255 |
Data: Stock Analysis · JEPI / JEPQ. A single payment multiplied by 12 is not the trailing annual total.
How JEPI and JEPQ generate distributions
Stock dividends and option premiums both contribute to income. Selling call exposure gives up some upside in exchange for premiums. Equity-linked notes (ELNs) also carry issuer / counterparty credit risk and liquidity risk; they can be difficult to sell or value.
JEPQ's greater technology and growth exposure may bring larger price swings. The options strategies can limit participation in a strong rally. The manager's comparison describes each fund's exposure and approach.
Consider income alongside asset growth
Total return reflects both price changes and distributions; a reinvested return also includes what reinvested payments earn. A higher yield can coexist with a falling share price. Compare the same period, currency and reinvestment assumptions in the investment backtest.
Do I want cash now or greater asset growth?
I believe we should invest. For monthly-income ETFs, I would examine both cash payments and asset growth. JEPQ draws my attention when current income is the priority; JEPI is worth examining when I want income with less dependence on technology stocks.
Compare JEPI with the S&P 500, or compare JEPQ with the Nasdaq-100. Use the same dates and dividend setting in both backtests to examine income strategies alongside index investing and the declines along the way.
JEPQ has the higher illustrative monthly average here. I would weigh the cash flow against the price risk I can actually bear.
Calculation and distribution-yield inputs
How the distribution yields are calculated
Trailing cash distribution yield = total distributions per share paid during 2025-09-23–2026-09-22 ÷ closing market price on 2026-09-22 (U.S. market, USD) × 100. Prices are not NAV or after-hours quotes.
- JEPI: 4.58338 USD ÷ 56.74 USD × 100 = 8.08%
- JEPQ: 6.76379 USD ÷ 61.17 USD × 100 = 11.06%
This is a reviewed snapshot, not a live quote. The 12 payments above sum to the numerator. The result is rounded to two decimals; it differs from SEC yield and the manager’s rolling yield based on each ex-dividend date’s NAV. Payments are grouped by pay date, so the December 31, 2025 ex-dividend payment appears in January 2026.
Tax and exchange rates
The examples are in USD. Exchange rates change what you receive or spend in another currency. After-tax income depends on tax residence, account type, withholding and local law.
Calculate an average for your own investment
Enter an investment amount and an assumed annual distribution yield to see illustrative pre-tax yearly and monthly averages. Try separate JEPI and JEPQ assumptions.
Open the dividend calculatorThis article combines the author’s opinion with historical distributions. Income and asset values change over time.