BTO vs. JEPQ

Last updated Jun 23, 2026

BTO (John Hancock Financial Opportunities Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - BTO is a Financials Equities fund actively managed by John Hancock, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. BTO is actively managed, while JEPQ is passively managed. Over the past 3 years, BTO returned 23.18%/yr vs 20.80%/yr for JEPQ. At a 0.39 correlation, their price movements are largely independent. BTO charges 2.01%/yr vs 0.35%/yr for JEPQ.

Performance

BTO vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Financial Opportunities Fund (BTO) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BTO having a 11.07% return and JEPQ slightly lower at 10.59%.

BTO

• 1D: 1.10%
• 1M: 4.44%
• YTD: 11.07%
• 6M: 8.02%
• 1Y: 23.74%
• 3Y*: 23.18%
• 5Y*: 7.53%
• 10Y*: 11.84%

JEPQ

• 1D: 0.07%
• 1M: 2.89%
• YTD: 10.59%
• 6M: 10.22%
• 1Y: 29.42%
• 3Y*: 20.80%
• 5Y*: —
• 10Y*: —

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

BTO vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BTO John Hancock Financial Opportunities Fund	11.07%	5.85%	28.92%	-1.16%	-6.36%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between BTO and JEPQ is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.39

Return for Risk

BTO vs. JEPQ — Risk / Return Rank

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

BTO

BTO Risk / Return Rank: 18
BTO Sharpe Ratio Rank: 19
BTO Sortino Ratio Rank: 18
BTO Omega Ratio Rank: 19
BTO Calmar Ratio Rank: 21
BTO Martin Ratio Rank: 15

JEPQ

JEPQ Risk / Return Rank: 75
JEPQ Sharpe Ratio Rank: 75
JEPQ Sortino Ratio Rank: 70
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

BTO vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Financial Opportunities Fund (BTO) 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.

	BTO	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.15	2.30	-1.15
Sortino ratio: Return per unit of downside risk	1.67	3.05	-1.38
Omega ratio: Gain probability vs. loss probability	1.21	1.46	-0.24
Calmar ratio: Return relative to maximum drawdown	1.56	3.35	-1.79
Martin ratio: Return relative to average drawdown	3.87	15.94	-12.07

BTO vs. JEPQ - Sharpe Ratio Comparison

The current BTO Sharpe Ratio is 1.15, which is lower than the JEPQ Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of BTO 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

BTO vs. JEPQ - Drawdown Comparison

The maximum BTO drawdown since its inception was -72.27%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for BTO and JEPQ.

Drawdown Indicators

	BTO	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-72.27%	-20.07%	-52.20%
Max Drawdown (1Y) Largest decline over 1 year	-15.26%	-8.82%	-6.44%
Max Drawdown (3Y) Largest decline over 3 years	-25.19%	-20.07%	-5.12%
Max Drawdown (5Y) Largest decline over 5 years	-51.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-65.70%	—	—
Current Drawdown Current decline from peak	-1.93%	0.00%	-1.93%
Average Drawdown Average peak-to-trough decline	-18.98%	-3.40%	-15.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.14%	1.85%	+4.29%

Volatility

BTO vs. JEPQ - Volatility Comparison

John Hancock Financial Opportunities Fund (BTO) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) have volatilities of 5.44% and 5.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTO	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	5.68%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	15.18%	10.33%	+4.85%
Volatility (1Y) Calculated over the trailing 1-year period	20.75%	12.85%	+7.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.88%	16.75%	+14.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.14%	16.75%	+19.39%

BTO vs. JEPQ - Expense Ratio Comparison

BTO has a 2.01% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

BTO vs. JEPQ - Dividend Comparison

BTO's dividend yield for the trailing twelve months is around 6.92%, less than JEPQ's 9.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTO John Hancock Financial Opportunities Fund	6.92%	7.41%	7.28%	8.64%	7.51%	4.72%	7.25%	6.06%	5.94%	3.76%	5.10%	4.75%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.97%	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 BTO and JEPQ in my portfolio?

BTO and JEPQ have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTO or JEPQ?

JEPQ has higher volatility (5.68%) compared to BTO (5.44%). In terms of maximum drawdown, BTO dropped -72.27% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.30 vs 1.15), 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.