AIRR vs. JEPQ

Last updated Jun 14, 2026

AIRR (First Trust RBA American Industrial Renaissance ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, AIRR returned 35.29%/yr vs 19.91%/yr for JEPQ. A 0.63 correlation means they provide meaningful diversification when combined. AIRR charges 0.69%/yr vs 0.35%/yr for JEPQ.

Performance

AIRR vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RBA American Industrial Renaissance ETF (AIRR) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRR achieves a 31.74% return, which is significantly higher than JEPQ's 7.85% return.

AIRR

• 1D: 0.83%
• 1M: -1.26%
• YTD: 31.74%
• 6M: 28.77%
• 1Y: 67.12%
• 3Y*: 35.29%
• 5Y*: 25.46%
• 10Y*: 22.05%

JEPQ

• 1D: 0.62%
• 1M: 0.68%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 26.60%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIRR vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AIRR First Trust RBA American Industrial Renaissance ETF	31.74%	27.92%	33.45%	31.43%	12.66%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between AIRR and JEPQ is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.63

The correlation between AIRR and JEPQ has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

AIRR vs. JEPQ - Sectors Allocation Comparison

Sectors	AIRR	JEPQ
Industrials	92.4%	2.8%
Financial Services	6.9%	0.3%
Energy	3.8%	0.3%
Technology	0.7%	58.9%
Basic Materials	-	0.9%
Communication Services	-	13.9%
Consumer Cyclical	-	11.8%
Consumer Defensive	-	6.0%
Healthcare	-	3.9%
Real Estate	-	0.2%
Utilities	-	1.1%

Return for Risk

AIRR vs. JEPQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIRR

AIRR Risk / Return Rank: 86
AIRR Sharpe Ratio Rank: 88
AIRR Sortino Ratio Rank: 83
AIRR Omega Ratio Rank: 78
AIRR Calmar Ratio Rank: 91
AIRR Martin Ratio Rank: 90

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIRR vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIRR	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.03	+0.47
Sortino ratio: Return per unit of downside risk	3.22	2.69	+0.53
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	5.01	2.91	+2.10
Martin ratio: Return relative to average drawdown	18.33	13.84	+4.49

AIRR vs. JEPQ - Sharpe Ratio Comparison

The current AIRR Sharpe Ratio is 2.50, which is comparable to the JEPQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of AIRR and JEPQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIRR vs. JEPQ - Drawdown Comparison

The maximum AIRR drawdown since its inception was -42.37%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for AIRR and JEPQ.

Drawdown Indicators

	AIRR	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-42.37%	-20.07%	-22.30%
Max Drawdown (1Y) Largest decline over 1 year	-13.09%	-8.82%	-4.27%
Max Drawdown (3Y) Largest decline over 3 years	-27.95%	-20.07%	-7.88%
Max Drawdown (5Y) Largest decline over 5 years	-27.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.37%	—	—
Current Drawdown Current decline from peak	-1.89%	-1.64%	-0.25%
Average Drawdown Average peak-to-trough decline	-7.48%	-3.41%	-4.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	1.85%	+1.72%

Volatility

AIRR vs. JEPQ - Volatility Comparison

First Trust RBA American Industrial Renaissance ETF (AIRR) has a higher volatility of 9.32% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 4.98%. This indicates that AIRR's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIRR	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.32%	4.98%	+4.34%
Volatility (6M) Calculated over the trailing 6-month period	20.81%	10.22%	+10.59%
Volatility (1Y) Calculated over the trailing 1-year period	26.19%	12.61%	+13.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.45%	16.73%	+8.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.36%	16.73%	+9.63%

AIRR vs. JEPQ - Expense Ratio Comparison

AIRR has a 0.69% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

AIRR vs. JEPQ - Dividend Comparison

AIRR's dividend yield for the trailing twelve months is around 0.13%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.13%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AIRR and JEPQ in my portfolio?

AIRR and JEPQ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRR or JEPQ?

AIRR has higher volatility (9.32%) compared to JEPQ (4.98%). In terms of maximum drawdown, AIRR dropped -42.37% vs JEPQ's -20.07%.

Which ETF is better, AIRR or JEPQ?

On 3-year performance, AIRR leads with 35.29% vs 19.91% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIRR or JEPQ?

Over the 3-year period, AIRR has performed better with a 35.29% return vs 19.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIRR or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.69% for AIRR.

Which ETF pays a higher dividend yield, AIRR or JEPQ?

JEPQ has the higher dividend yield at 10.22%, compared with 0.13% for AIRR.

What is the main difference between AIRR and JEPQ?

AIRR is categorized as Building & Construction, while JEPQ is Nasdaq-100. AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.69% for AIRR and 0.35% for JEPQ.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.50 vs 2.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.