Both funds own the Nasdaq-100 and sell calls for monthly income. The difference is how much upside each sells.
Updated October 31, 2026 · fund data as of October 30, 2026
| Metric | JEPQ | QYLD |
|---|---|---|
| Trailing yield | 11.96% | 11.98% |
| Income on $10,000 / year | ~$1,196 | ~$1,198 |
| Expense ratio | 0.35% | 0.60% |
| Fund assets | $44.3B | $8.5B |
| Pays | Monthly | Monthly |
| 1-year total return | +19.5% | +23.2% |
| 3-year annualized return | +21.8% | +17.6% |
| 5-year annualized return | n/a | +9.8% |
| Strategy | Actively managed; Nasdaq-100 stocks plus equity-linked notes that sell Nasdaq-100 calls | Tracks the Cboe Nasdaq-100 BuyWrite V2 Index |
| Inception | 2022 | 2013 |
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 want Nasdaq income but also want the fund to keep some of the growth, at a lower fee.
You want a pure rules-based index strategy, you value the income above everything else, and you accept that the price will not keep up.
QYLD sells at-the-money calls on 100% of the portfolio each month, so it gives up nearly all the upside. JEPQ is actively managed and sells calls on part of its exposure, usually above the current price, so it keeps more of a rally. That design difference, not the yield, is what separates their total returns.
When yields are close, the fund with the higher total return has left you with more money. Look at the return rows in the table above. See NAV erosion explained for why this matters.
For most investors, JEPQ is the stronger design: a lower fee and more retained upside for a similar payout. QYLD is simpler and rules-based.
Yes, both pay every month, on different dates.