These two funds are often paired, but they do different jobs. JEPI turns option income into a large monthly check. SCHD owns quality dividend payers and keeps all the upside.
Updated October 31, 2026 · fund data as of October 30, 2026
| Metric | JEPI | SCHD |
|---|---|---|
| Trailing yield | 7.93% | 2.95% |
| Income on $10,000 / year | ~$793 | ~$295 |
| Expense ratio | 0.35% | 0.06% |
| Fund assets | $45.3B | $107.9B |
| Pays | Monthly | Quarterly |
| 1-year total return | +6.6% | +23.4% |
| 3-year annualized return | +10.0% | +15.4% |
| 5-year annualized return | +7.8% | +9.5% |
| Strategy | Actively managed; defensive S&P 500 stocks plus equity-linked notes that sell S&P 500 calls | Tracks the Dow Jones U.S. Dividend 100 Index |
| Inception | 2020 | 2011 |
Yield is trailing 12-month distributions divided by the latest price, calculated the same way for every fund, as of October 30, 2026. Distributions, prices, and fees change; confirm with the issuer before investing. Highlighted cells show the higher yield, lower fee, larger fund, or higher return, which is not the same as the better fund for you.
You need the highest current income, you want it monthly, and you can hold the fund in an IRA or 401(k), where its ordinary income is sheltered.
You are still building wealth, want a dividend that has grown over time, and prefer qualified dividends in a taxable account.
SCHD pays out the dividends of the companies it owns, which those companies can raise over time. JEPI's payout is mostly option income earned through equity-linked notes, which depends on market volatility. So JEPI pays much more today, but that income has no built-in tendency to grow.
JEPI's fee is 0.35% against 0.06% for SCHD, and selling calls limits its gains in strong rallies. Tax also matters: at a 24% ordinary rate and a 15% qualified rate, a taxable investor keeps noticeably less of each JEPI dollar. Compare the yields after tax before deciding. The tax guide explains why.
A 60% SCHD, 40% JEPI mix yields about 4.9% and still keeps most of a portfolio in funds with full upside. Try your own split in the portfolio builder.
JEPI, at 7.93% against 2.95%. On $10,000 that is about $793 a year from JEPI and $295 from SCHD, before tax.
Many retirees hold both: JEPI for current income and SCHD for income that can grow with inflation. Investors still reinvesting usually favor SCHD, because capped upside compounds more slowly.
It is a common pairing. Their overlap is small enough that each adds something, and JEPI usually belongs in a tax-advantaged account.