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JEPQ vs DIVO: Which Monthly Income ETF Fits Better?

JEPQ sells Nasdaq-100 options for an 11.11% monthly yield; DIVO writes covered calls selectively on a concentrated portfolio of dividend payers for 4.79%. Compare income, fees, risk, and tax treatment before choosing an income sleeve.

Data as of September 28, 2026

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

J.P. Morgan

Covered Call

Price

$58.99

Yield (TTM)

11.11%

JEPQ dividend calculator →

DIVO

Amplify CWP Enhanced Dividend Income ETF

Amplify ETFs

Covered Call

Price

$45.48

Yield (TTM)

4.79%

DIVO dividend calculator →

Run these ETFs through the calculator

Project compounded returns, dividend income, and reinvestment using each ETF's real yield, expense ratio, and distribution frequency.

Calculate with JEPQCalculate with DIVOCompare side by side

Quick Comparison Summary

JEPQ vs DIVO: compare dividend yield (11.1% vs 4.8%), expense ratio (0.35% vs 0.56%), holdings, returns, and our verdict for dividend investors.

Side-by-Side Metrics
MetricJEPQDIVO
IssuerJ.P. MorganAmplify ETFs
Inception2022-05-032016-12-13
CategoryCovered CallCovered Call
Price$58.99$45.48
NAV$58.98$45.46
Dividend Yield (TTM)11.11%4.79%
Expense Ratio0.35%0.56%
Distribution FrequencyMonthlyMonthly
AUM$36.9B$6.9B
Total Returns

3Y and 5Y figures are annualized. A 0% value indicates the fund had not been listed for the full period.

Holdings & Sector Exposure

JEPQ

Top 5 / 5 shown

  • MSFT

    Microsoft

    8.12%

  • AAPL

    Apple

    7.45%

  • NVDA

    NVIDIA

    6.98%

  • AMZN

    Amazon

    5.32%

  • META

    Meta Platforms

    4.18%

Sector Weights

  • Information Tech48.2%
  • Communication15.8%
  • Consumer Disc.14.4%
  • Health Care7.2%
  • Industrials4.8%
  • Consumer Staples4.2%

DIVO

Top 5 / 5 shown

  • MSFT

    Microsoft

    5.18%

  • AAPL

    Apple

    4.92%

  • JPM

    JPMorgan Chase

    4.61%

  • GS

    Goldman Sachs

    4.42%

  • HD

    Home Depot

    4.18%

Sector Weights

  • Financials19.8%
  • Information Tech18.4%
  • Health Care14.2%
  • Industrials12.6%
  • Consumer Staples10.8%
  • Energy8.4%

Pros & Cons

JEPQPros
  • 11.11% trailing yield — more than double DIVO's
  • 0.35% expense ratio versus DIVO's 0.56%
  • Monthly distributions
  • Nasdaq-100 exposure adds technology upside potential
DIVOPros
  • Monthly distributions from a portfolio of established dividend payers
  • Calls are written selectively, so more upside is retained than index-wide overwriting
  • Lower distribution variability than index-option strategies
  • Concentrated, actively managed portfolio (~25-30 holdings)
JEPQCons
  • Distributions vary sharply with volatility
  • Selling calls caps upside in strong tech rallies
  • Large share of the payout is ordinary income, not qualified dividends
DIVOCons
  • 4.79% yield is less than half of JEPQ's
  • 0.56% expense ratio — the highest in this comparison
  • Option premium and short-term gains can be taxed as ordinary income
  • Concentrated holdings mean single-name risk
The Verdict

JEPQ is the higher-octane option: more than double DIVO's yield (11.11% vs 4.79%) at a lower 0.35% fee, but its distributions swing with Nasdaq volatility and the strategy caps tech upside. DIVO is the steadier profile — a concentrated portfolio of large dividend payers with calls written selectively — at a higher 0.56% fee and a much lower headline yield. JEPQ for maximum cash flow, DIVO for a more balanced income sleeve.

Best for
JEPQ

Investors who want maximum monthly cash flow and accept variable payouts

Best for
DIVO

Investors who want monthly income with more equity upside retained and lower distribution volatility

Strategy Summary

JEPQ

Actively managed Nasdaq-100 equity portfolio combined with equity-linked notes that simulate written Nasdaq-100 covered calls, producing monthly option premium income with concentrated tech exposure.

DIVO

Actively managed concentrated portfolio of ~25-30 high-quality dividend payers, overlaid with tactical covered calls written only when implied volatility is favorable.

Frequently Asked Questions

JEPQ's trailing yield is about 11.11% versus DIVO's 4.79%. JEPQ harvests premium from systematic Nasdaq-100 option selling, while DIVO blends dividends from its equity holdings with selective call writing.

Its distributions are more variable because option premium moves with volatility, and its Nasdaq-100 exposure means deeper drawdowns in tech-led selloffs. DIVO's concentrated dividend portfolio is more balanced, though its returns can lag in strong growth markets. Neither protects your principal.

JEPQ charges 0.35% and DIVO 0.56%. On a $100,000 position that is $350 versus $560 per year — a real difference, though small next to the funds' distribution swings.

Both mix qualified dividends with option premium and short-term gains, and a large share of each distribution can be taxed as ordinary income rather than at qualified-dividend rates. Holding either inside an IRA or Roth removes the annual tax drag. Confirm your situation with a tax professional.

JEPQ delivers more cash per dollar invested but with less predictable payments; DIVO offers steadier monthly income with more equity upside. Many retirees blend a covered-call sleeve with a dividend-growth core — model the income trajectories in the calculator before sizing a position.
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Disclaimer: This page is for educational purposes only and is not financial, investment, or tax advice. ETF data is sourced from issuer fact sheets and may be slightly out of date. Past performance is not indicative of future results. Always consult a qualified advisor before making investment decisions.