SPYT vs JEPI: Income Fund Comparison
Defiance S&P 500 Income Target ETF - US (SPYT) and JPMorgan Equity Premium Income ETF - US (JEPI) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: SPYT individual review · JEPI individual review
SPYT: Expense ratio is 0.87%. JEPI: Expense ratio is 0.35% which is low for an options-based income ETF. SPYT the fund was established March 7 2024 - just over 2 years of history. JEPI fund inception date was May 20th 2020 - approximately 5.8 years of history as of review date. Full Dependability and Return scores for both funds are available in the app.
| SPYT | JEPI | |
|---|---|---|
| Fund Name | Defiance S&P 500 Income Target ETF - US | JPMorgan Equity Premium Income ETF - US |
| Fund Type | Index Based Fund | Diversified Fund |
| Exchange | NYSE/NASDAQ | NYSE/NASDAQ |
| Last Reviewed | 2026-04-07 | 2026-03-06 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: SPYT vs JEPI 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
Expense ratio is 0.87%.
Expense ratio is 0.35% which is low for an options-based income ETF.
Defiance ETFs manages approximately $7.32 billion across its ETF suite.
J.P. Morgan Asset Management has trillions in assets under management - one of the largest asset managers in the world.
The fund was established March 7 2024 - just over 2 years of history.
Fund inception date was May 20th 2020 - approximately 5.8 years of history as of review date.
Net assets are approximately $138 million.
Approximately $44.58 Billion in assets under management as of March 2026. One of the most popular income ETFs in the world.
Risk: SPYT vs JEPI 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Beta is 1.0154 vs SPY over the data series from 2024-03-15 to 2026-03-28 - in line with the market. Standalone volatility is 14.23% annualized (weekly total returns) - low to moderate price choppiness.
Beta is 0.58 vs SPY (2020-05-29 to 2026-03-06) - significantly lower than the market. Very low volatility for an income fund.
See the full Risk analysis for both SPYT and JEPI — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: SPYT vs JEPI 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Monthly distributions confirmed by distribution history.
Monthly distributions.
See the full Return analysis for both SPYT and JEPI — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both SPYT and JEPI are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: SPYT vs JEPI
Which has a lower expense ratio, SPYT or JEPI?
SPYT: Expense ratio is 0.87%.
JEPI: Expense ratio is 0.35% which is low for an options-based income ETF.
Which fund has more assets under management, SPYT or JEPI?
SPYT: Net assets are approximately $138 million.
JEPI: Approximately $44.58 Billion in assets under management as of March 2026. One of the most popular income ETFs in the world.
Which fund has been trading longer, SPYT or JEPI?
SPYT: The fund was established March 7 2024 - just over 2 years of history.
JEPI: Fund inception date was May 20th 2020 - approximately 5.8 years of history as of review date.
Who manages SPYT vs JEPI?
SPYT: Defiance ETFs manages approximately $7.32 billion across its ETF suite.
JEPI: J.P. Morgan Asset Management has trillions in assets under management - one of the largest asset managers in the world.
Where can I see the full SPYT vs JEPI comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between SPYT and JEPI?
Defiance S&P 500 Income Target ETF - US is a Index Based Fund. Expense ratio is 0.87%. JPMorgan Equity Premium Income ETF - US is a Diversified Fund. Expense ratio is 0.35% which is low for an options-based income ETF. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, SPYT or JEPI?
SPYT: Expense ratio is 0.87%. The fund was established March 7 2024 - just over 2 years of history. JEPI: Expense ratio is 0.35% which is low for an options-based income ETF. Fund inception date was May 20th 2020 - approximately 5.8 years of history as of review date. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do SPYT and JEPI pay monthly distributions?
SPYT: Monthly distributions confirmed by distribution history. JEPI: Monthly distributions. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full SPYT vs JEPI Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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