JEPI, JEPQ, and QYLD are three of the most-searched US option-income ETFs. Yield headlines dominate Reddit and broker screener lists. Dist. coverage asks a different question: for the mapped filing period, did operations support distributions?
Not investment advice. Fiscal year ends differ — do not treat these as identical calendar-2025 windows.
At a glance (mapped filings)
| Ticker | Strategy flavour | Filing period on CoverCall Ledger | Dist. coverage | Earned vs paid |
|---|---|---|---|---|
| JEPI | US large-cap equity premium income (ELN / options) | FY ended Jun 30, 2025 | 96% covered | $2.92B vs $3.03B |
| JEPQ | Nasdaq-oriented equity premium income | FY ended Jun 30, 2025 | 88% covered | $2.01B vs $2.29B |
| QYLD | Nasdaq-100 covered call (buy-write) | FY ended Oct 31, 2025 | 73% covered | $780.0M vs $1.07B |
All three paid more than they earned on the accrual lens in these periods — JEPI and JEPQ only slightly under 100%; QYLD more so. That is filing math for those windows, not a prediction.
How the products differ
- JEPI — Broad US equity premium income; widely used as a “core” option-income holding. Coverage near fully covered for FY Jun 2025.
- JEPQ — Same JPMorgan family with a Nasdaq / growth tilt. Slightly weaker coverage than JEPI in the same FY window.
- QYLD — Classic Nasdaq-100 covered-call ETF (Global X US). Higher distribution profile historically; mapped Dist. coverage 73% for FY Oct 2025.
Canada-listed cousins
If you hold Canadian wrappers on US tech:
- QQCL — Global X Enhanced NASDAQ-100 Covered Call (Canada) — 2025 Covered ($41.2M / $34.8M)
- See also QQCL vs QYLD
How to use this comparison
1. Match index / sleeve (S&P-style vs Nasdaq) before comparing yields.
2. Read Dist. coverage for the fund’s own fiscal year on each fund page.
3. Separate CoverCall 2026 YTD (tape) from filing-period total return.
More US income names: SPYI (NEOS; stub period Fully covered on mapped Jun–Dec 2025), XYLD (76% covered FY Oct 2025). Basics: Distribution coverage vs yield.