BTCC vs. JEPQ

Last updated Jun 4, 2026

BTCC (Grayscale Bitcoin Covered Call ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - BTCC is a Cryptocurrency fund actively managed by Grayscale, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. BTCC is actively managed, while JEPQ is passively managed. Over the past year, BTCC returned -33.54% vs 29.00% for JEPQ. At a 0.48 correlation, their price movements are largely independent. BTCC charges 0.66%/yr vs 0.35%/yr for JEPQ.

Performance

BTCC vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Covered Call ETF (BTCC) 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, BTCC achieves a -20.81% return, which is significantly lower than JEPQ's 9.54% return.

BTCC

• 1D: -2.53%
• 1M: -15.87%
• YTD: -20.81%
• 6M: -22.94%
• 1Y: -33.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

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

BTCC vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
BTCC Grayscale Bitcoin Covered Call ETF	-20.81%	-6.34%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	21.81%

Correlation

The correlation between BTCC and JEPQ is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.48

Return for Risk

BTCC vs. JEPQ — Risk / Return Rank

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

BTCC

BTCC Risk / Return Rank: 2
BTCC Sharpe Ratio Rank: 1
BTCC Sortino Ratio Rank: 2
BTCC Omega Ratio Rank: 1
BTCC Calmar Ratio Rank: 3
BTCC Martin Ratio Rank: 1

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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.

BTCC vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Covered Call ETF (BTCC) 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.

	BTCC	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	2.49	-3.51
Sortino ratio: Return per unit of downside risk	-1.34	3.29	-4.63
Omega ratio: Gain probability vs. loss probability	0.82	1.49	-0.67
Calmar ratio: Return relative to maximum drawdown	-0.76	3.31	-4.06
Martin ratio: Return relative to average drawdown	-1.47	16.22	-17.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCC vs. JEPQ - Sharpe Ratio Comparison

The current BTCC Sharpe Ratio is -1.02, which is lower than the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of BTCC 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.

Sharpe Ratios by Period

	BTCC	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	2.49	-3.51
Sharpe Ratio (All Time) Calculated using the full available price history	-0.72	1.00	-1.72

Drawdowns

BTCC vs. JEPQ - Drawdown Comparison

The maximum BTCC drawdown since its inception was -44.40%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for BTCC and JEPQ.

Drawdown Indicators

	BTCC	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-20.07%	-24.33%
Max Drawdown (1Y) Largest decline over 1 year	-44.40%	-8.82%	-35.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-39.44%	-0.10%	-39.34%
Average Drawdown Average peak-to-trough decline	-15.57%	-3.42%	-12.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.87%	1.79%	+21.08%

Volatility

BTCC vs. JEPQ - Volatility Comparison

Grayscale Bitcoin Covered Call ETF (BTCC) has a higher volatility of 8.70% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.26%. This indicates that BTCC'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

	BTCC	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.70%	1.26%	+7.44%
Volatility (6M) Calculated over the trailing 6-month period	27.70%	9.07%	+18.63%
Volatility (1Y) Calculated over the trailing 1-year period	32.92%	11.73%	+21.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.68%	16.61%	+15.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.68%	16.61%	+15.07%

BTCC vs. JEPQ - Expense Ratio Comparison

BTCC has a 0.66% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

BTCC vs. JEPQ - Dividend Comparison

BTCC's dividend yield for the trailing twelve months is around 105.03%, more than JEPQ's 10.07% yield.

Position	TTM	2025	2024	2023	2022
BTCC Grayscale Bitcoin Covered Call ETF	105.03%	63.86%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both BTCC and JEPQ in my portfolio?

BTCC and JEPQ have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTCC or JEPQ?

BTCC has higher volatility (8.70%) compared to JEPQ (1.26%). In terms of maximum drawdown, BTCC dropped -44.40% vs JEPQ's -20.07%.

Which ETF is better, BTCC or JEPQ?

On 1-year performance, JEPQ leads with 29.00% vs -33.54% for BTCC. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCC or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.00% return vs -33.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCC or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.66% for BTCC.

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

BTCC has the higher dividend yield at 105.03%, compared with 10.07% for JEPQ.

What is the main difference between BTCC and JEPQ?

BTCC is categorized as Cryptocurrency, while JEPQ is Nasdaq-100. They also come from different issuers: Grayscale and JPMorgan. Their fees differ too: 0.66% for BTCC and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.49 vs -1.02), 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.