What Is JEPQ? JPMorgan Nasdaq Equity Premium Income ETF

JEPQ is JPMorgan Nasdaq Equity Premium Income ETF, an ETF that tracks Nasdaq-100 (active equity + options overlay) at a 0.35% expense ratio. Holds an actively selected slice of Nasdaq-100 stocks and sells call options against them, turning volatility into a high monthly distribution. The trade-off is capped upside in strong rallies. The headline yield is large but variable, and the fee is 0.35%.

JEPQ is issued by JPMorgan and tracks Nasdaq-100 (active equity + options overlay), so a single ticker gives you the whole basket of underlying holdings weighted by the index's methodology rather than by any active stock-picking.

JEPQ is weighted toward its largest constituents. As of mid-2026, the top holdings are:

The remaining holdings make up the balance of the fund, with weights tapering off below the top names. Because the index reconstitutes on a rolling basis, the roster stays current without active management. Each ticker above links to its individual stock guide in Walnut.

ETFs are passive bundles; thematic baskets in Walnut let you concentrate within them. If you hold JEPQ as a core position, these are the themes you might layer on as satellites.

JEPQ gives you Nasdaq-100 (active equity + options overlay) exposure in one ticker at a 0.35% expense ratio. Most investors use it as a core holding and layer more concentrated thematic baskets on top.

Whether JEPQ is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is JEPQ a buy?

JEPQ yields ~10.11% as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see JEPQ dividend: yield and schedule.

JEPQ runs its covered-call income strategy on Nasdaq-100 stocks, while JEPI runs a similar strategy on a broader, lower-volatility S&P 500 selection. JEPQ tends to yield more and swing more because tech is more volatile; JEPI is the steadier, more diversified income sibling. Read the full side-by-side in JEPQ vs JEPI.