JEPQ vs DIVO ETF comparison
JEPQ vs DIVO
JEPQ is the Nasdaq version of the same J.P. Morgan approach, pairing a stock portfolio with equity-linked notes that sell Nasdaq-100 call options, and DIVO holds 20 to 25 dividend-growth stocks and writes covered calls on individual stocks when its managers choose. JEPQ is built around Nasdaq-100 and DIVO around dividend stocks, so they own different stocks and weight sectors differently.
Both sell call options for income, which caps their upside in strong markets. JEPQ charges 0.35% and DIVO charges 0.56%. This page lines up what each fund owns, how the two overlap, what each costs, how each has performed against the market and how each trades, with the date next to every number.
JEPQ vs DIVO, the short answer
JEPQ and DIVO both sell call options to pay monthly income. JEPQ is built around Nasdaq-100 and DIVO around dividend stocks, so they own different stocks and weight sectors differently. Both sell call options for income, which caps their upside in strong markets.
Expense ratios are 0.35% and 0.56%, which is $35 and $56 a year per $10,000. NAV total returns, annualized (both to Oct 31, 2026): 1 year 9.49% vs 12.74%; 3 years 20.04% vs 17.57%. Their top ten holdings overlap by 10.3%. Neither is better for everyone; the choice turns on cost, income needs and how much upside you will give up.
Want the full picture of one fund before you compare? Read the complete guide for each fund: JEPQ guide and DIVO guide. Each guide covers fees, holdings, yield, returns and taxes.
JEPQ vs DIVO overlap, if you own both
JEPQ · ten largest holdings
As of Sep 30, 2026- 1Nvidia Corp NVDA7.40%Only here
- 2Apple Inc. AAPL6.40%Both
- 3Microsoft Corp MSFT5.20%Both
- 4Micron Technology Inc. MU5.00%Only here
- 5Alphabet Inc. Class C GOOG4.70%Only here
- 6Advanced Micro Devices AMD4.00%Only here
- 7Amazon.com Inc. AMZN3.70%Only here
- 8Meta Platforms Inc. META3.00%Only here
- 9Lam Research Corp LRCX2.10%Only here
- 10Tesla Inc. TSLA2.00%Only here
Ten largest total 43.5%
DIVO · ten largest holdings
As of Nov 11, 2026- 1Microsoft Corp MSFT6.01%Both
- 2Amgen Inc. AMGN5.75%Only here
- 3Visa Inc. V5.57%Only here
- 4Apple Inc. AAPL5.15%Both
- 5Caterpillar Inc. CAT5.08%Only here
- 6JPMorgan Chase & Co JPM5.03%Only here
- 7Goldman Sachs Group Inc. GS4.98%Only here
- 8American Express Co AXP4.19%Only here
- 9Chevron Corp CVX4.06%Only here
- 10Merck & Co. Inc. MRK3.55%Only here
Ten largest total 49.4%
Shared by both · 2 companies
| Company | JEPQ weight | DIVO weight | Gap |
|---|---|---|---|
| Apple Inc. AAPL | 6.40% | 5.15% | +1.25 pts |
| Microsoft Corp MSFT | 5.20% | 6.01% | -0.81 pts |
Only in JEPQ’s top ten: Nvidia Corp, Micron Technology Inc., Alphabet Inc. Class C, Advanced Micro Devices, Amazon.com Inc., Meta Platforms Inc., Lam Research Corp, Tesla Inc.. Only in DIVO’s top ten: Amgen Inc., Visa Inc., Caterpillar Inc., JPMorgan Chase & Co, Goldman Sachs Group Inc., American Express Co, Chevron Corp, Merck & Co. Inc.. Alphabet Class A and Class C are counted as one company and their weights are added.
The twist
2 of the ten largest holdings are shared, and the overlap is 10.3% by the smaller-weight method. Real overlap is likely higher, since the rest of each portfolio is not counted. Both funds also sell call options.
JEPQ vs DIVO, one goal, which fund?
JEPQ vs DIVO, where the money goes
JEPQ · JPMorgan Nasdaq Equity Premium Income ETF
DIVO · Amplify CWP Enhanced Dividend Income ETF
JEPQ vs DIVO returns compared over 1, 3 and 5 years
JEPQ vs DIVO, what each fund costs a year
The data room
Every figure behind the JEPQ vs DIVO cards above, with its source, date and evidence grade. Open the issuer documents before relying on any number.
JEPQ vs DIVO key facts
Evidence grade: Issuer issuer page · Mixed issuer plus provider · 3rd party| Metric | JEPQ | DIVO | Grade and source |
|---|
Portfolio characteristics
| Metric | JEPQ | DIVO | Grade and source |
|---|
Net assets are dated Nov 10, 2026 for both funds (JEPQ $41.78B; DIVO $8.01B). Figures an issuer page does not show are left out or marked Not captured, not estimated.
JEPQ vs DIVO holdings, how each fund is built
Issuer pages · Nov 2026| Item | JEPQ | DIVO |
|---|---|---|
| Strategy | Nasdaq-100-style stock portfolio plus equity-linked notes that sell Nasdaq-100 call options | Holds 20 to 25 dividend-growth stocks and writes covered calls on individual stocks on a tactical basis |
| Number of holdings | 109 (Sep 30, 2026) | Not captured |
| Top ten share of fund | 43.5% | 49.4% |
| Reference index | Nasdaq-100 Index (reference only, no tracked index) | S&P 500 Total Return Index (reference only, no tracked index) |
| Call option position | Not captured | Not captured |
| Exchange | Nasdaq | NYSE Arca |
| Launched | May 3, 2022 | Dec 14, 2016 |
Option positions are listed only where the issuer page publishes them. Gaps are marked Not captured. An equity-linked note or call spread is a different tool from a plain covered call, but all three cap some upside in exchange for income.
JEPQ vs DIVO against the market, what the income costs
NAV total return vs index, to Oct 31, 2026| Fund and period | Fund NAV | Index | Index return | Fund minus index, pts |
|---|---|---|---|---|
| JEPQ · 1 year | 9.49% | Nasdaq-100 Index | 10.47% | -0.98 |
| JEPQ · 3 years | 20.04% | Nasdaq-100 Index | 26.28% | -6.24 |
| DIVO · 1 year | 12.74% | S&P 500 Total Return Index | 12.11% | +0.63 |
| DIVO · 3 years | 17.57% | S&P 500 Total Return Index | 23.40% | -5.83 |
| DIVO · 5 years | 10.55% | S&P 500 Total Return Index | 12.06% | -1.51 |
What you actually own
JEPQ vs DIVO performance
Matched dates, to Oct 31, 2026All rows come from the issuer pages and are dated Oct 31, 2026 for both funds, so they compare like for like. NAV returns include fees. “Since inception” starts in different years (JEPQ 2022, DIVO 2016). Past performance does not guarantee future results.
Growth of a hypothetical $10,000 · NAV total return, to Oct 31, 2026
Derived from issuer NAV total returns (compounded). Fund expenses are already in NAV. Illustration, not a forecast.
JEPQ vs DIVO yield, dividends and dividend growth
Yield and distribution facts| Measure | JEPQ | DIVO |
|---|---|---|
| 30-day SEC yield | 11.46% | 1.35% |
| Payout measure | 11.87% (Nov 10, 2026) | 4.85% (distribution rate, Oct 31, 2026) |
| Distributions | Monthly | Monthly |
| Fee per $10,000 a year | $35 | $56 |
The payout figures are not directly comparable. JEPQ reports 11.87% (Nov 10, 2026) and DIVO reports 4.85% (distribution rate, Oct 31, 2026). The 30-day SEC yield (11.46% for JEPQ and 1.35% for DIVO) follows a standard formula and can sit far below the payout figure, because option premiums are not counted the same way.
A high payout is not the same as a high return: part of a payout can be your own capital coming back, which lowers NAV. See NAV erosion, covered call ETFs and yield vs total return.
JEPQ vs DIVO trading and liquidity
Issuer fund pages · Nov 10, 2026JEPQ trades on Nasdaq and DIVO on NYSE Arca. Spreads on the issuer pages were 0.02% for JEPQ and 0.02% for DIVO, and a spread of 0.02% is about $20 between the buy and sell price on $100,000. Larger funds usually trade with tighter spreads, which matters more for frequent traders than for long-term holders. Use limit orders for large trades and avoid the first and last minutes of the session. See creation, redemption and trading for how NAV, premiums and spreads arise.
JEPQ vs DIVO expense ratio and fees in dollars
As stated by each issuer| Balance | JEPQ (0.35%) | DIVO (0.56%) | Gap per year |
|---|---|---|---|
| $10,000 | $35 | $56 | $21 |
| $50,000 | $175 | $280 | $105 |
| $100,000 | $350 | $560 | $210 |
The expense ratio is taken from fund assets, not billed to you. Fees exclude the bid/ask spread, any premium or discount to NAV, brokerage commissions and taxes.
JEPQ vs DIVO, what each trust holds and how it is valued
Structure, in plain languageJEPQ · Nasdaq-100 Index (reference only, no tracked index)
JEPQ Nasdaq-100-style stock portfolio plus equity-linked notes that sell Nasdaq-100 call options. It was launched in May 3, 2022 and charges 0.35%. Option terms, risks and tax treatment are described in the prospectus and on the issuer page.
DIVO · S&P 500 Total Return Index (reference only, no tracked index)
DIVO Holds 20 to 25 dividend-growth stocks and writes covered calls on individual stocks on a tactical basis. It was launched in Dec 14, 2016 and charges 0.56%. Option terms, risks and tax treatment are described in the prospectus and on the issuer page.
Custody, valuation and fee terms sit in each prospectus; read them before relying on this summary.
JEPQ vs DIVO, why yield and returns differ
The fee explains most of the gapJEPQ is built around Nasdaq-100 and DIVO around dividend stocks, so they own different stocks and weight sectors differently. Both sell call options for income, which caps their upside in strong markets.
Covered call funds trade some of the market’s upside for steady monthly income. That is why the comparison against the market index above matters more than any single payout figure: the question is how much return you keep after the options are written.
How to decide between JEPQ and DIVO
A step-by-step frameworkStart with what separates them: JEPQ is built around Nasdaq-100 and DIVO around dividend stocks, so they own different stocks and weight sectors differently. Both sell call options for income, which caps their upside in strong markets.
- Step 1 · Market: JEPQ follows Nasdaq-100 and DIVO follows dividend stocks, so decide which exposure you want to own.
- Step 2 · Cost: JEPQ 0.35% vs DIVO 0.56%, or $35 vs $56 a year per $10,000.
- Step 3 · Income and total return: compare the payout to the NAV return, not the payout alone.
- Step 4 · What you own: check whether you already hold these stocks through another fund with the Diversification Calculator.
Size the position against your whole portfolio. Income funds can lag in rallies and still fall in selloffs, so they usually play a defined role.
JEPQ vs DIVO for Canadian investors
Currency and account typeJEPQ and DIVO are U.S.-listed and trade in U.S. dollars, so buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost on entry and exit. A move in the U.S. dollar also changes your return in Canadian dollars.
Monthly distributions from U.S. funds can face U.S. withholding tax depending on the account type, and the split between income types varies. Confirm the rules for your account with a tax professional. This is general education, not tax advice.
Risks of JEPQ and DIVO
What can go wrongShared risks
- Selling call options caps gains, so both funds can trail the market in strong rallies.
- Payouts are not guaranteed and can fall when option premiums or markets change.
- A high payout can include return of capital, which lowers NAV; the payout alone does not show total return.
- Neither fund protects fully against a market decline, because the stocks are still held.
Fund-specific risks
- JEPQ: Nasdaq-100-style stock portfolio plus equity-linked notes that sell Nasdaq-100 call options.
- DIVO: Holds 20 to 25 dividend-growth stocks and writes covered calls on individual stocks on a tactical basis.
- JEPQ: expense ratio 0.35%, net assets $41.78B. DIVO: expense ratio 0.56%, net assets $8.01B.
- Both: see each prospectus for option, derivative and tax disclosures.
JEPQ vs DIVO taxes and account placement
General education, not tax adviceDistributions from covered call funds can include ordinary income, qualified dividends, short-term or long-term capital gains and return of capital, and the mix changes from year to year. Option premiums are often taxed differently from stock dividends. Each issuer publishes a tax breakdown after year end, which is the figure to use, not the monthly payout.
For Canadian account types, see the Canadian section above. Confirm the rules for your account with a tax professional, and read how to build an ETF portfolio. This is general education, not tax advice.
Other ETFs people compare
For context, not recommendationsInvestors comparing JEPQ and DIVO often also look at the other covered call income funds in this group: JEPI, JEPQ, QYLD, XYLD, DIVO and SPYI. See the other covered call income ETF comparisons, the dividend ETFs and the ETF research hub.
JEPQ vs DIVO drawdown arithmetic
What a decline means in dollarsRecovery gain = decline ÷ (1 − decline). The scenarios use illustrative declines of 10%, 20% and 30% so you can see what a drop does to each fund. Covered call funds still hold the stocks, so they can fall alongside the market. They are not a worst-case figure. See the Position Size Calculator.
Tools to compare JEPQ vs DIVO
Static weights from this pageIgnores taxes, spreads and holdings differences. ETF Fee Calculator.
Check shared exposure with the Diversification Calculator.
JEPQ vs DIVO, which fits which job
Characteristics, not recommendationsJEPQ may suit investors who want…
Higher income with Nasdaq-100 growth exposure.
Strengths
- Lower fee: 0.35% against 0.56%
- Larger fund: $41.78B against $8.01B
- Monthly income from options and dividends
- Exchange-traded and priced all day
Watch points
- Led in 1 of 2 return windows (to Oct 31, 2026)
- Capped upside in strong markets
- Payouts can change month to month
DIVO may suit investors who want…
Dividend growers with tactical option income.
Strengths
- Monthly income from options and dividends
- Exchange-traded and priced all day
Watch points
- Higher fee: 0.56% against 0.35%
- Smaller fund: $8.01B against $41.78B
- Led in 1 of 2 return windows (to Oct 31, 2026)
- Capped upside in strong markets
JEPQ vs DIVO investor scenarios
Characteristics that fit, not recommendationsJEPQ vs DIVO key terms
Plain-language definitions
JEPQ vs DIVO, frequently asked questions
Answers use the figures and dates shown aboveIs JEPQ or DIVO better?
In the JEPQ vs DIVO question, neither is better for everyone. JEPQ and DIVO both sell call options to pay monthly income. JEPQ is built around Nasdaq-100 and DIVO around dividend stocks, so they own different stocks and weight sectors differently. Both sell call options for income, which caps their upside in strong markets.
Expense ratios are 0.35% and 0.56%, which is $35 and $56 a year per $10,000. NAV total returns, annualized (both to Oct 31, 2026): 1 year 9.49% vs 12.74%; 3 years 20.04% vs 17.57%. Their top ten holdings overlap by 10.3%. Neither is better for everyone; the choice turns on cost, income needs and how much upside you will give up.
JEPQ vs DIVO, what are the expense ratios?
JEPQ charges 0.35% and DIVO charges 0.56%, which is $35 and $56 a year per $10,000.
JEPQ vs DIVO, how much do the funds overlap?
On JEPQ vs DIVO, the top ten holdings overlap by 10.3% on the issuer data, with 2 shared names. This counts only the ten largest holdings of each fund, so the full portfolio overlap may differ.
JEPQ vs DIVO, what does each ETF hold?
JEPQ Nasdaq-100-style stock portfolio plus equity-linked notes that sell Nasdaq-100 call options. DIVO Holds 20 to 25 dividend-growth stocks and writes covered calls on individual stocks on a tactical basis.
JEPQ vs DIVO, which has performed better?
NAV total returns, annualized (both to Oct 31, 2026): 1 year 9.49% vs 12.74%; 3 years 20.04% vs 17.57%. Past performance does not guarantee future results.
JEPQ vs DIVO, which pays more income?
JEPQ reports 11.87% (Nov 10, 2026) and DIVO reports 4.85% (distribution rate, Oct 31, 2026). The measures are defined differently, so compare them with the NAV return before choosing.
JEPQ vs DIVO, can I own both?
On JEPQ vs DIVO, you can. Both sell call options, so owning both adds a second fee, and shared holdings repeat the same stocks (top-10 overlap 10.3%).
JEPQ vs DIVO, do the funds pay dividends?
On JEPQ vs DIVO, both pay monthly distributions funded by stock dividends and option premiums. The amount changes from month to month.
JEPQ vs DIVO, how are distributions taxed?
On JEPQ vs DIVO, distributions can include ordinary income, dividends, capital gains and return of capital, and the mix changes each year. Each issuer publishes a year-end tax breakdown. Confirm with a tax professional. This is general education, not tax advice.
JEPQ vs DIVO, are they suitable for Canadian investors?
On JEPQ vs DIVO, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs, and withholding tax on distributions depends on the account. Confirm with a tax professional. This is general education, not tax advice.
JEPQ vs DIVO documents and sources
Open the issuer documents before relying on any figureJEPQ · J.P. Morgan
DIVO · Amplify
Third-party sources
J.P. Morgan JEPQ fund page · Amplify DIVO fund page.
Methodology and limits
- JEPQ figures come from the J.P. Morgan fund page and DIVO figures from the Amplify fund page.
- Dates are shown beside each figure; the issuer documents are linked below.
- Overlap is the sum of the smaller weight of each shared holding among the ten largest holdings published for each fund.
- Comparison index returns come from the issuer page; funds without one on the page are left out of the table.
- Figures an issuer page does not show are marked Not captured, and nothing was filled from memory or from another fund.
- Returns are dated Oct 31, 2026 for both funds on this page. Growth of $10,000 is derived from annualized NAV total returns; dollar values are approximate.
Educational research, not personalized investment, tax or legal advice, and not a recommendation to buy or sell any fund. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Calculators are hypothetical illustrations. Fund data are provided as published by the sources named and may differ from current figures.