AMZY vs. JEPQ

Last updated Jun 24, 2026

AMZY (YieldMax AMZN Option Income Strategy ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - AMZY is a Derivative Income fund actively managed by YieldMax, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. AMZY is actively managed, while JEPQ is passively managed. Over the past year, AMZY returned 6.82% vs 25.10% for JEPQ. A 0.70 correlation means they provide meaningful diversification when combined. AMZY charges 1.09%/yr vs 0.35%/yr for JEPQ.

Performance

AMZY vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AMZN Option Income Strategy ETF (AMZY) 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, AMZY achieves a -1.83% return, which is significantly lower than JEPQ's 7.85% return.

AMZY

• 1D: 0.57%
• 1M: -10.29%
• YTD: -1.83%
• 6M: -1.84%
• 1Y: 6.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -2.48%
• 1M: 0.34%
• YTD: 7.85%
• 6M: 7.02%
• 1Y: 25.10%
• 3Y*: 19.79%
• 5Y*: —
• 10Y*: —

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

AMZY vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMZY YieldMax AMZN Option Income Strategy ETF	-1.83%	10.39%	35.28%	18.03%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	7.88%

Correlation

The correlation between AMZY 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 (All Time) Calculated using the full available price history since Jul 25, 2023	0.70

The correlation between AMZY and JEPQ has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

Return for Risk

AMZY vs. JEPQ — Risk / Return Rank

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

AMZY

AMZY Risk / Return Rank: 12
AMZY Sharpe Ratio Rank: 12
AMZY Sortino Ratio Rank: 12
AMZY Omega Ratio Rank: 13
AMZY Calmar Ratio Rank: 12
AMZY Martin Ratio Rank: 12

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 66
JEPQ Calmar Ratio Rank: 60
JEPQ Martin Ratio Rank: 74

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.

AMZY vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMZN Option Income Strategy ETF (AMZY) 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.

	AMZY	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	0.28	1.93	-1.65
Sortino ratio: Return per unit of downside risk	0.54	2.57	-2.03
Omega ratio: Gain probability vs. loss probability	1.07	1.38	-0.31
Calmar ratio: Return relative to maximum drawdown	0.35	2.86	-2.51
Martin ratio: Return relative to average drawdown	0.83	13.55	-12.72

AMZY vs. JEPQ - Sharpe Ratio Comparison

The current AMZY Sharpe Ratio is 0.28, which is lower than the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of AMZY 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

AMZY vs. JEPQ - Drawdown Comparison

The maximum AMZY drawdown since its inception was -23.70%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for AMZY and JEPQ.

Drawdown Indicators

	AMZY	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.70%	-20.07%	-3.63%
Max Drawdown (1Y) Largest decline over 1 year	-19.61%	-8.82%	-10.79%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-12.34%	-2.48%	-9.86%
Average Drawdown Average peak-to-trough decline	-5.40%	-3.40%	-2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.20%	1.86%	+6.34%

Volatility

AMZY vs. JEPQ - Volatility Comparison

YieldMax AMZN Option Income Strategy ETF (AMZY) has a higher volatility of 7.99% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 6.27%. This indicates that AMZY'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

	AMZY	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.99%	6.27%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	17.06%	10.58%	+6.48%
Volatility (1Y) Calculated over the trailing 1-year period	24.24%	13.08%	+11.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.14%	16.79%	+8.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.14%	16.79%	+8.35%

AMZY vs. JEPQ - Expense Ratio Comparison

AMZY has a 1.09% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

AMZY vs. JEPQ - Dividend Comparison

AMZY's dividend yield for the trailing twelve months is around 58.30%, more than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022
AMZY YieldMax AMZN Option Income Strategy ETF	58.30%	52.59%	47.91%	9.90%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both AMZY and JEPQ in my portfolio?

AMZY 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, AMZY or JEPQ?

AMZY has higher volatility (7.99%) compared to JEPQ (6.27%). In terms of maximum drawdown, AMZY dropped -23.70% vs JEPQ's -20.07%.

Which ETF is better, AMZY or JEPQ?

On 1-year performance, JEPQ leads with 25.10% vs 6.82% for AMZY. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 6.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZY or JEPQ?

Over the 1-year period, JEPQ has performed better with a 25.10% return vs 6.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZY or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 1.09% for AMZY.

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

AMZY has the higher dividend yield at 58.30%, compared with 10.22% for JEPQ.

What is the main difference between AMZY and JEPQ?

AMZY is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: YieldMax and JPMorgan. Their fees differ too: 1.09% for AMZY and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.93 vs 0.28), 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.