I have an affinity for collecting passive income. I like to see dividend and interest payments deposited into my account. I currently reinvest that cash into generating more income so that I can eventually achieve my goal of producing enough passive income to cover my recurring expenses.

One of my favorite income-generating vehicles is the JPMorgan Equity Premium Income ETF (NYSEMKT: JEPI). The exchange-traded fund (ETF) pays a hefty monthly distribution (the latest payment was at a nearly 7% yield). That's one of the many reasons I continue adding to my position in the passive income machine.

JPMorgan Equity Premium Income ETF's aim is simple yet ambitious. It strives to deliver distributable monthly Income and Equity market exposure with less volatility than the S 500. To achieve that goal, it utilizes a two-pronged strategy.

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Source Fool.com