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JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
J.P. Morgan Investment Management Inc.
Verdict
Weighted score · Pro 🔒
Fund Identity
What it is, who runs it, where it lives.
The Fund seeks current income while maintaining prospects for capital appreciation..
JEPQ constructs an actively managed equity portfolio comprised significantly of securities included in the Nasdaq-100 Index, then overlays a covered call strategy via equity-linked notes (ELNs) to generate income. The ELNs embed short call options on the Nasdaq-100 Index or ETFs replicating it, providing recurring premium income while capping upside participation. The strategy is designed to deliver a majority of Nasdaq-100 returns with lower volatility and monthly income distributions.
Ticker
JEPQ
Issuer
J.P. Morgan Investment Management Inc.
Exchange
XNAS
Inception
2022-05-04 · 4.3 yrs
Mgmt style
Active
Replication
Physical (sampled/optimized) equity portfolio plus Synthetic exposure via equity-linked notes (ELNs) embedding covered call options on the Nasdaq-100 Index
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered Calls (short call positions embedded within ELNs)
generates income
Underlying
Nasdaq-100 Index (NDX) or ETFs replicating the Nasdaq-100 Index
income exposure
MONTHLY
10.9%
DIST. RATE
— ROC
Ordinary Income
Ordinary Income
Underlying
Nasdaq-100 Index (NDX) or ETFs replicating the Nasdaq-100 Index
Strategy
Covered Calls (short call positions embedded within ELNs)
Tax
Ordinary Income
The Fund invests up to 20% of net assets in ELNs that embed short call positions on the Nasdaq-100 Index or replicating ETFs, effectively implementing a covered call overlay. Premiums received from the embedded short calls are passed through to the Fund as recurring cash flow and are a primary source of income. The strategy caps upside participation beyond the option exercise price but reduces overall portfolio volatility.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · AUG '25 – AUG '26
AUG '25AUG '26
Flat-NAV reinvestment hurdle
0.0%
Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
—
ROC
Frequency
Monthly
Dist. rate
10.87%
ROC %
—
30-day SEC
not reported
Consistency
3 w/o cut
YOC · 1yr-ago buyer
11.7%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.
Composition · Narrative
The Fund seeks to provide monthly distributions at a relatively stable level. Distributions are sourced from option premiums received via ELNs, dividends from equity holdings, and potentially capital gains. Distributions are taxed as ordinary income or capital gains.
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-08-03
Ex-dividend
2026-08-03
Pay date
—
Payback Period
9.2 yr
Dist. Since Incep.
$24.4
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs Nasdaq-100
No sector feed for this fund.
Holdings
109
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$60.0$55.5$51.0$46.5
AUG '25AUG '26
Price $60.00
50-DMA $58.70
200-DMA $55.82
Bullish — 50-DMA above 200-DMA
Price $60.00 is above the 200-day SMA ($55.82); 50-day SMA $58.70. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
6.9M
Avg dollar volume
$398,868,385
Bid/ask spread
0.17%
Premium/discount
—
Turnover
168%
Estimated bid/ask spread ~0.17% (moderate). Average daily dollar volume ~$398.9M (very liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Stable. Source: shares×price (Massive, monthly).
AUM ($)
$41.58B
$41.58B$28.18B$14.77B
JUN '24AUG '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
JEPQ · 2026-08-13
Prepared by Streamfolio
Research aid, not investment advice.
Prepared by Streamfolio
Research aid, not investment advice.