JEPI’s 8.4% Yield Masks a Tax Trap: SPYI Delivers 65% More Cash to Retirees in High Brackets

The pitch for JPMorgan Equity Premium Income ETF (NYSEARCA: JEPI) has always been monthly cash flow and lower volatility than the S&P 500. For a retiree holding $200,000 of JEPI in a taxable brokerage account, the cash is real, but the tax bill is too. Most of JEPI’s distribution is recognized as ordinary income under its ... JEPI’s 8.4% Yield Masks a Tax Trap: SPYI Delivers 65% More Cash to Retirees in High Brackets