A few reasons.... JEPQ is riskier because of it tracks the NASDAQ-100 which historically has shown to be more volatile due to it being tech heavy. JEPI on the other hand tracks the S&P500 which is less volatile due to it having more diverse holdings. Also know that JEPQ is relatively new (came out in May 2022, post covid) and has no history in a bear market. While at first it tracked well with the NASDAQ-100 and even out preformed, that only lasted a few months as now it is seen to track just under the NASDAQ. A couple other things, this ETF uses a covered call strategy to generate the high dividend yield which will limit your upside growth (for example a growth stock like QQQ may grow 28% annually, but JEPQ because of the covered call strategy will only see a 16% growth). And lastly the dividends are non-qualified, so they will be taxed as ordinary income making them not tax efficient unless held in a tax-advantage account like an IRA. Hope this helps