JEPQ alternatives and similar ETFs

JEPQ alternatives at a glance#

Each fund below can stand in for JEPQ, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How JEPQ and its alternatives did over the same dates#

Each row measures the alternative and JEPQ on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each JEPQ alternative, compared#

QQQI: NEOS Nasdaq-100 High Income ETF#

QQQI also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while JEPQ tracks no index (its managers pick what it holds).

It charges 0.68% a year, about $68 on $10,000, against $35 for JEPQ.

From January 2024 to October 2026, QQQI returned about 18.2% a year and JEPQ returned about 17.0% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the QQQI fund page for its returns by year and worst drop.

GPIX: Goldman Sachs S&P 500 Premium Income ETF#

GPIX also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while JEPQ tracks no index (its managers pick what it holds).

It charges 0.29% a year, about $29 on $10,000, against $35 for JEPQ. It held 492 stocks, against 110 for JEPQ.

From October 2023 to October 2026, GPIX returned about 22.5% a year and JEPQ returned about 21.8% a year. Over about the last five years they moved together on most days (correlation 0.94).

Read the GPIX fund page for its returns by year and worst drop.

QYLD: Global X NASDAQ 100 Covered Call ETF#

QYLD also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks the Cboe NASDAQ-100 BuyWrite V2 Index, while JEPQ tracks no index (its managers pick what it holds).

It charges 0.6% a year, about $60 on $10,000, against $35 for JEPQ. It held 102 stocks, against 110 for JEPQ.

From May 2022 to October 2026, QYLD returned about 10.4% a year and JEPQ returned about 15.3% a year. Over about the last five years they moved together on most days (correlation 0.92).

Read the QYLD fund page for its returns by year and worst drop.

SPYI: NEOS S&P 500 High Income ETF#

SPYI also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while JEPQ tracks no index (its managers pick what it holds).

It charges 0.68% a year, about $68 on $10,000, against $35 for JEPQ. It held 510 stocks, against 110 for JEPQ.

From August 2022 to October 2026, SPYI returned about 14.7% a year and JEPQ returned about 18.7% a year. Over about the last five years they moved together on most days (correlation 0.92).

Read the SPYI fund page for its returns by year and worst drop.

XYLD: Global X S&P 500 Covered Call ETF#

XYLD also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks the Cboe S&P 500 BuyWrite Index, while JEPQ tracks no index (its managers pick what it holds).

It charges 0.6% a year, about $60 on $10,000, against $35 for JEPQ. It held 505 stocks, against 110 for JEPQ.

From May 2022 to October 2026, XYLD returned about 8.0% a year and JEPQ returned about 15.3% a year. Over about the last five years they moved together on most days (correlation 0.86).

Read the XYLD fund page for its returns by year and worst drop.

JEPI: JPMorgan Equity Premium Income ETF#

JEPI also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while JEPQ tracks no index (its managers pick what it holds).

It charges 0.35% a year, about $35 on $10,000, against $35 for JEPQ. It held 135 stocks, against 110 for JEPQ.

From May 2022 to October 2026, JEPI returned about 8.0% a year and JEPQ returned about 15.3% a year. Over about the last five years they often moved together, but not always (correlation 0.78).

Read the JEPI fund page for its returns by year and worst drop.

DIVO: Amplify CWP Enhanced Dividend Income ETF#

DIVO also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while JEPQ tracks no index (its managers pick what it holds).

It charges 0.56% a year, about $56 on $10,000, against $35 for JEPQ. It held 30 stocks, against 110 for JEPQ.

From May 2022 to October 2026, DIVO returned about 11.7% a year and JEPQ returned about 15.3% a year. Over about the last five years they often moved together, but not always (correlation 0.73).

Read the DIVO fund page for its returns by year and worst drop.

VYM: Vanguard High Dividend Yield ETF#

VYM is a looser match. It holds US companies that pay high or steady dividends, while JEPQ holds stocks plus call options sold on them, which trade some of the gains for extra income.

It charges 0.04% a year, about $4 on $10,000, against $35 for JEPQ. It held 593 stocks, against 110 for JEPQ.

From May 2022 to October 2026, VYM returned about 11.6% a year and JEPQ returned about 15.3% a year. Over about the last five years they often moved together, but not always (correlation 0.71).

Read the VYM fund page for its returns by year and worst drop.

JEPQ versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to JEPQ from each other company on this page:

• NEOS: QQQI, NEOS Nasdaq-100 High Income ETF (same kind of fund, 0.68% a year)
• Goldman Sachs Asset Management: GPIX, Goldman Sachs S&P 500 Premium Income ETF (same kind of fund, 0.29% a year)
• Global X (Mirae Asset): QYLD, Global X NASDAQ 100 Covered Call ETF (same kind of fund, 0.6% a year)
• Amplify ETFs: DIVO, Amplify CWP Enhanced Dividend Income ETF (same kind of fund, 0.56% a year)
• Vanguard: VYM, Vanguard High Dividend Yield ETF (related fund, 0.04% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between JEPQ and its alternatives#

• What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, JEPQ costs about $35 a year. VYM costs about $4.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping JEPQ to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as QYLD, XYLD or VYM, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test JEPQ and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add JEPQ and QQQI, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as JEPQ. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like JEPQ over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with JEPQ only on days both traded. Read what a backtest simulates for more on these measures.