QQQI vs JEPQ: Returns, Drawdowns and Dividends Since 2024
QQQI (NEOS Nasdaq-100 High Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) moved almost in lockstep: their daily returns had a correlation of 0.983, where 1 would mean identical. QQQI came out ahead, returning 16.9% a year with dividends reinvested from January 2024 to November 2026, against 15.8% for JEPQ.
Bought on any day and held one year, QQQI finished ahead 78% of the time. Both fell about 20% at their worst, in April 2025. QQQI also paid more in dividends: 14.7% over the past 12 months, against 12.2% for JEPQ.
| Measure | QQQI | JEPQ |
|---|---|---|
| Annual return | 16.9% | 15.8% |
| $10,000 grew to | $15,382 | $14,995 |
| Worst decline | −20.0%Apr 2025 | −20.1%Apr 2025 |
| Volatility Volatility How much the fund's daily returns swing: their standard deviation over this period, annualized with the square root of 252 trading days. | 17.6% | 16.2% |
| Sharpe ratio Sharpe ratio Return above T-bills for each unit of risk: daily returns minus the T-bill ETF BIL, averaged, divided by their standard deviation and annualized. Higher is better. T-bill funds show none. Sharpe ratio calculator | 0.73 | 0.72 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 14.7% | 12.2% |
| Correlation between them Correlation How closely the two funds' daily returns moved together over this period: 1 means identical every day, 0 means no relation. | 0.983 | |
QQQI: NEOS Nasdaq-100 High Income ETFJEPQ: JPMorgan Nasdaq Equity Premium Income ETF
Jan 30, 2024 to Nov 4, 2026, dividends reinvested.
Hover or use the arrow keys to read any day.Tap or drag across the chart to read any day.
Worst declines
QQQI fell 20.0% from Feb 19, 2025 to Apr 8, 2025 and was back at its high on Jun 24, 2025. JEPQ fell 20.1% from Feb 19, 2025 to Apr 8, 2025 and was back at its high on Aug 8, 2025.
Hover or use the arrow keys to read any day.Tap or drag across the chart to read any day.
Year by year
QQQI was ahead in 1 of the 3 calendar years.
| Year | QQQI | JEPQ | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 4) | +8.2% | +8.5% | JEPQ+0.3 |
| 2025 | +18.6% | +15.2% | QQQI+3.4 |
| 2024 (from Jan 30) | +19.9% | +20.0% | JEPQ+0.2 |
Held for 1 year: which came out ahead
Buy on any trading day from Jan 30, 2024, hold for a set time, and see which fund ended higher. The periods overlap, so they show how much the start date mattered, not separate results.
| Hold | Days tested | Ahead more often | Median lead (pts) |
|---|---|---|---|
| 1 year | 443 | QQQI78% | +2.0 |
Median lead is the typical gap in total return across all start dates, in percentage points. The latest 1-year hold starts on Nov 3, 2025.
Dividends
Over the past 12 months QQQI paid 14.7% of its price in dividends and JEPQ 12.2%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | QQQI | JEPQ |
|---|---|---|
| 2026 (to Nov 4) | $6.36 10 payments | $5.82 10 payments |
| 2025 | $7.44 12 payments | $6.12 12 payments |
| 2024 (from Jan 30) | $6.73 11 payments | $5.44 12 payments |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- QQQI
- NEOS Nasdaq-100 High Income ETF, an ETF launched Jan 30, 2024. FinLab prices start Jan 30, 2024.
- QQQI price and signal backtests
- JEPQ
- JPMorgan Nasdaq Equity Premium Income ETF, an ETF launched May 4, 2022. FinLab prices start May 4, 2022.
- JEPQ price and signal backtests
More comparisons
Source: FinLab U.S. fund prices, Jan 30, 2024 to Nov 4, 2026, the days both funds traded. Returns use prices adjusted for dividends and splits, before taxes; annual return is compounded.
For research and education. Past returns do not guarantee future results, and this is not investment advice.