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Beacon

JEPQJPMorgan Nasdaq Equity Premium Income ETF

Get income4y track recordRanked #186 of 1,622 in this goal

Seeks current income while maintaining prospects for capital appreciation.

By JPMorgan · Launched 2022

Annual Cost

0.35%

#1,706 of 5,562 · low cost

Fund Size

$39.6B

#85 of 5,562 · large

Dividend YieldGoal

10.11%

Track Record

4 years

#2,678 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$12,909+29.1%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

Index tracked

Nasdaq-100 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 44.0% of fundmoderately concentrated

NVIDIA Corp.
7.8%
Apple, Inc.
6.8%
Microsoft Corp.
6.3%
Alphabet, Inc.
5.5%
Amazon.com, Inc.
4.4%
Meta Platforms, Inc.
3.5%
Tesla, Inc.
3.1%
Broadcom, Inc.
2.5%
JPMorgan U.S. Government Money Market Fund
2.1%
Netflix, Inc.
2.0%

Asset allocation

Stocks
84.9%
Convertible
13.5%
Cash
1.6%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
12.8%Moderate

Year-on-year price swings

Max drawdown
-20.1%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
1.09Strong risk-adjusted returns
Sortino (3Y)
1.56Good downside protection

Where to buy

Listing

Exchange
NASDAQ Global Select Market

Full fund details

Objective
Seeks current income while maintaining prospects for capital appreciation.
Strategy
Creates an actively managed portfolio of equity securities primarily from the Nasdaq-100 Index and uses equity-linked notes (ELNs) and call options to generate income. Aims for lower volatility than the Benchmark while providing monthly distributions at a stable level.
Inception date
May 3, 2022
Fund family
JPMorgan

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Why we flagged this: strategy=option_income + option_income_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19