What is the expense ratio of JEPQ vs QQQ?

JEPQ has an expense ratio of 0.35%, while QQQ has an expense ratio of 0.18%.

JEPQ vs QQQ

JPMorgan Nasdaq Equity Premium Income ETF vs Invesco QQQ Trust

Last updated: 2026-04-02

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is an exchange-traded fund that provides exposure to us covered call securities. It charges an above-average expense ratio of 0.35%. The fund offers a high dividend yield of 11.10%. Launched in 2022, the fund has a 4-year track record.

AUM: $34.3B ER: 0.35% Yield: 11.10% Since: May 3, 2022

QQQ Invesco

Invesco QQQ Trust (QQQ) is an exchange-traded fund issued by Invesco that provides exposure to large-cap U.S. growth stocks with above-average earnings potential. It charges a moderate expense ratio of 0.18%. The fund offers a modest dividend yield of 0.48%. Launched in 1999, the fund has a 27-year track record.

AUM: $363.1B ER: 0.18% Yield: 0.48% Since: Mar 10, 1999

Quick Verdict

QQQ is significantly cheaper at 0.18% vs 0.35% expense ratio, saving you approximately $332 per $10,000 invested over 10 years. Over the past year, QQQ has significantly outperformed with a 23.6% return vs 7.6%. Income investors may prefer JEPQ for its higher yield (11.1% vs 0.5%).

Key Metrics

Metric	JEPQ	QQQ
Expense Ratio	0.35%	0.18%
Dividend Yield	11.1%	0.5%
Fund Family	N/A	Invesco
Category	US Covered Call	US Large Cap Growth

Performance Chart

Indexed to 100 at start (5-year comparison)

JEPQ +8.7%

QQQ +76.5%

Performance Comparison

Period	JEPQ	QQQ	Difference
1 Month	-3.58%	-3.91%	+0.33%
3 Months	-4.42%	-4.70%	+0.28%
6 Months	-3.07%	-3.13%	+0.06%
YTD	-4.42%	-4.70%	+0.28%
1 Year	+7.58%	+23.61%	-16.03%
3 Years	+24.65%	+82.51%	-57.86%
5 Years	+8.66%	+76.50%	-67.84%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	JEPQ Fees	QQQ Fees	You Save
$10.000	10 years	$690	$357	$332
$10.000	20 years	$2.930	$1.529	$1.400
$10.000	30 years	$9.337	$4.912	$4.425
$50.000	10 years	$3.448	$1.786	$1.662
$50.000	30 years	$46.685	$24.558	$22.127
$100.000	30 years	$93.370	$49.116	$44.254

Risk Metrics

Based on 5 years of daily returns

Metric	JEPQ	QQQ
Annualized Volatility	17.2%	22.4%
Max Drawdown	-21.6%	-35.6%
Sharpe Ratio	-0.05	0.42

Dividend Comparison

Metric	JEPQ	QQQ
Annual Dividend (per share)	$6.17	$2.81
Dividend Yield	11.11%	0.48%
Distribution Frequency	Monthly	Quarterly

Top Holdings

9 of top 9 holdings overlap (100% overlap in top holdings)

JEPQ Top Holdings

Name	Weight
NVIDIA CorporationNVDA	7.41%
Apple Inc.AAPL	6.44%
Alphabet Inc.GOOG	5.14%
Microsoft CorporationMSFT	4.86%
Amazon.com, Inc.AMZN	4.05%
Meta Platforms, Inc.META	3.05%
Tesla, Inc.TSLA	2.62%
Walmart Inc.WMT	2.49%
Broadcom Inc.AVGO	2.25%
Netflix, Inc.NFLX	2.09%

QQQ Top Holdings

Name	Weight
NVIDIA CorporationNVDA	8.55%
Apple Inc.AAPL	7.67%
Microsoft CorporationMSFT	5.56%
Amazon.com, Inc.AMZN	4.49%
Tesla, Inc.TSLA	3.79%
Walmart Inc.WMT	3.48%
Meta Platforms, Inc.META	3.26%
Alphabet Inc.GOOG	3.13%
Broadcom Inc.AVGO	2.99%

Which One Should You Choose?

Choose QQQ if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose QQQ if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose JEPQ if...

you prioritize dividend income and want higher regular distributions from your portfolio.

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