What is the expense ratio of JEPQ vs VOO?

JEPQ has an expense ratio of 0.35%, while VOO has an expense ratio of 0.03%.

JEPQ vs VOO

JPMorgan Nasdaq Equity Premium Income ETF vs Vanguard S&P 500 ETF

Last updated: 2026-04-08

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 10.82%. Launched in 2022, the fund has a 4-year track record.

AUM: $34.5B ER: 0.35% Yield: 10.82% Since: May 3, 2022

VOO

Vanguard S&P 500 ETF (VOO) is an exchange-traded fund that provides exposure to large-cap U.S. equities across growth and value styles. It charges a very low expense ratio of 0.03%. The fund offers a moderate dividend yield of 1.15%. Launched in 2010, the fund has a 16-year track record.

AUM: $826.9B ER: 0.03% Yield: 1.15% Since: Sep 7, 2010

Quick Verdict

VOO is significantly cheaper at 0.03% vs 0.35% expense ratio, saving you approximately $630 per $10,000 invested over 10 years. Over the past year, VOO has significantly outperformed with a 35.9% return vs 24.5%. Income investors may prefer JEPQ for its higher yield (10.8% vs 1.1%).

Key Metrics

Metric	JEPQ	VOO
Expense Ratio	0.35%	0.03%
Dividend Yield	10.8%	1.1%
Fund Family	N/A	N/A
Category	US Covered Call	US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

JEPQ +11.8%

VOO +65.3%

Performance Comparison

Period	JEPQ	VOO	Difference
1 Month	-0.79%	-0.49%	-0.30%
3 Months	-2.72%	-2.10%	-0.62%
6 Months	+1.41%	+3.37%	-1.96%
YTD	-1.66%	-1.20%	-0.46%
1 Year	+24.51%	+35.90%	-11.39%
3 Years	+28.08%	+64.93%	-36.85%
5 Years	+11.80%	+64.11%	-52.31%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	JEPQ Fees	VOO Fees	You Save
$10,000	10 years	$690	$60	$630
$10,000	20 years	$2,930	$258	$2,672
$10,000	30 years	$9,337	$835	$8,502
$50,000	10 years	$3,448	$299	$3,148
$50,000	30 years	$46,685	$4,176	$42,509
$100,000	30 years	$93,370	$8,352	$85,018

Risk Metrics

Based on 5 years of daily returns

Metric	JEPQ	VOO
Annualized Volatility	17.2%	16.8%
Max Drawdown	-21.6%	-25.4%
Sharpe Ratio	-0.01	0.42

Dividend Comparison

Metric	JEPQ	VOO
Annual Dividend (per share)	$6.18	$7.13
Dividend Yield	10.83%	1.15%
Distribution Frequency	Monthly	Quarterly

Top Holdings

8 of top 9 holdings overlap (89% overlap in top holdings)

JEPQ Top Holdings

Name	Weight
NVIDIA CorporationNVDA	7.42%
Apple Inc.AAPL	6.30%
Alphabet Inc.GOOG	5.33%
Microsoft CorporationMSFT	4.78%
Amazon.com, Inc.AMZN	4.08%
Meta Platforms, Inc.META	3.00%
Walmart Inc.WMT	2.41%
Tesla, Inc.TSLA	2.39%
Broadcom Inc.AVGO	2.38%
JPMorgan Prime Money Market Fund!mutf/JIMXX	2.29%

VOO Top Holdings

Name	Weight
NVIDIA CorporationNVDA	7.31%
Apple Inc.AAPL	6.63%
Microsoft CorporationMSFT	4.96%
Amazon.com, Inc.AMZN	3.47%
Broadcom Inc.AVGO	2.56%
Alphabet Inc.GOOG	2.46%
Meta Platforms, Inc.META	2.40%
Tesla, Inc.TSLA	1.92%
Berkshire Hathaway Inc.BRK.B	1.57%

Which One Should You Choose?

Choose VOO if...

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

Choose VOO 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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