Compare/Updated Oct 26, 2026, refreshed every trading day
SPYI vs JEPQ
Neos S&P 500(R) High Income ETF against JPMorgan Nasdaq Equity Premium Income ETF: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
JEPQ did better over the 1,000-trading-day period: $1,000 invested on October 28, 2022 grew to $2,115, versus $1,821 for SPYI, producing total returns of 111.5% and 82.1%, respectively. JEPQ also won 35 of the last 48 months, while SPYI won 13, although SPYI’s recent results were stronger over one month, YTD, and six months. The higher return came with greater risk: JEPQ’s 12-month volatility was 14.9% versus 10.6% for SPYI, and its worst drawdown was -20.1% versus -16.5%. SPYI’s lower volatility and smaller drawdown may matter more to investors prioritizing smoother performance, while JEPQ’s lower 0.35% expense ratio versus SPYI’s 0.68% and stronger long-term return favor JEPQ for investors willing to accept greater fluctuations.
- Price is above its 200-day average ($50); 50-day at $53.
- RSI 44, neutral. Supertrend says sell. ADX 16, so the trend is weak.
- Price is above its 200-day average ($56); 50-day at $59.
- RSI 36, neutral. Supertrend says sell. ADX 29, so the trend is strong.
Head to head
Which has returned more, SPYI or JEPQ?
SPYI beat JEPQ in 13 of the last 48 months; JEPQ won the other 35. The typical monthly gap was 0.92 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.921
- correlation of daily moves, 4 years
- 0.74
- SPYI move per 1% in JEPQ
- 0.909
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.92 points.
When did they diverge?
| Month | SPYI | JEPQ | Gap |
|---|---|---|---|
| July 2026 | +0.6% | -4.2% | +4.78 pts |
| September 2026 | +0.1% | +4.1% | -4.00 pts |
| March 2023 | +3.1% | +7.0% | -3.85 pts |
| October 2026 | -0.1% | -3.7% | +3.67 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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