The JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is outperforming its bigger sibling JEPI this year.
The JPMorgan Premium Equity Income ETF has become a big hit with investors looking to generate cash in a period of high inflation, but the fund might soon be overshadowed by its younger sibling.
's yield topped 10% for much of last year, attracting heavy inflows. Investors are still jumping into the fund in 2023, pushing its total assets to about $26 billion. While the fund has beaten the broader market over the past 12 months, all of those new investors haven't gotten high-end returns in 2023. Through May 11, the fund has a total return of just 3.4% year to date, underperforming the S & P 500. The 30-day SEC yield has also dipped below 10%.
which launched in May 2022, has been a hit in its own right, and now has more than $2 billion of assets. Both funds work in similar ways. Reiner's team combines active stock selection with equity-linked notes, which generate income for the fund but do limit some of the upside for products during big market rallies. The notes are structured to function in a way that resembles a covered call strategy.
, which is linked to the S & P 500 , has a more defensive group of stock holdings, none of which make up more than 2% of the fund. on the other hand, has big weights in some of the tech stocks that have raced ahead in 2023. "It's about stock selection. We're going to look for those that we think are the long-term winners … and be slightly overweight those," Reiner said. "But because the Nasdaq is such a highly concentrated index, we're still going to own some of those stocks that we don't think are as good as some of the ones we like more. … We're just going to be underweight them.
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