BUFB vs. JEPQ

Last updated Jun 5, 2026

BUFB (Innovator Laddered Allocation Buffer ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - BUFB is a Defined Outcome fund tracking the MerQube U.S. Large Cap Equity Buffer Laddered Index - Benchmark TR Gross, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, BUFB returned 15.93%/yr vs 20.81%/yr for JEPQ. Their correlation of 0.89 suggests significant overlap in exposure. BUFB charges 0.89%/yr vs 0.35%/yr for JEPQ.

Performance

BUFB vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Laddered Allocation Buffer ETF (BUFB) 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, BUFB achieves a 7.27% return, which is significantly lower than JEPQ's 9.42% return.

BUFB

• 1D: 0.22%
• 1M: 2.29%
• YTD: 7.27%
• 6M: 7.93%
• 1Y: 19.30%
• 3Y*: 15.93%
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -0.12%
• 1M: 3.79%
• YTD: 9.42%
• 6M: 9.57%
• 1Y: 28.59%
• 3Y*: 20.81%
• 5Y*: —
• 10Y*: —

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

BUFB vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BUFB Innovator Laddered Allocation Buffer ETF	7.27%	13.42%	16.37%	20.50%	-4.81%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.42%	15.18%	24.85%	36.28%	-12.89%

Correlation

The correlation between BUFB and JEPQ is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 5, 2022	0.89

The correlation between BUFB and JEPQ has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

BUFB vs. JEPQ - Sectors Allocation Comparison

Sectors	BUFB	JEPQ
Technology	36.2%	54.0%
Financial Services	11.9%	0.4%
Communication Services	10.9%	15.4%
Consumer Cyclical	10.1%	12.8%
Healthcare	8.4%	4.4%
Industrials	8.1%	3.1%
Consumer Defensive	4.9%	7.1%
Energy	3.5%	0.4%
Utilities	2.3%	1.3%
Real Estate	1.9%	0.2%
Basic Materials	1.8%	1.0%

Return for Risk

BUFB vs. JEPQ — Risk / Return Rank

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

BUFB

BUFB Risk / Return Rank: 83
BUFB Sharpe Ratio Rank: 81
BUFB Sortino Ratio Rank: 85
BUFB Omega Ratio Rank: 85
BUFB Calmar Ratio Rank: 76
BUFB Martin Ratio Rank: 89

JEPQ

JEPQ Risk / Return Rank: 76
JEPQ Sharpe Ratio Rank: 77
JEPQ Sortino Ratio Rank: 73
JEPQ Omega Ratio Rank: 81
JEPQ Calmar Ratio Rank: 66
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.

BUFB vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Laddered Allocation Buffer ETF (BUFB) 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.

	BUFB	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.45	+0.13
Sortino ratio: Return per unit of downside risk	3.74	3.25	+0.49
Omega ratio: Gain probability vs. loss probability	1.51	1.48	+0.03
Calmar ratio: Return relative to maximum drawdown	3.79	3.26	+0.53
Martin ratio: Return relative to average drawdown	20.07	15.99	+4.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFB vs. JEPQ - Sharpe Ratio Comparison

The current BUFB Sharpe Ratio is 2.58, which is comparable to the JEPQ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of BUFB 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

	BUFB	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	2.45	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	1.00	-0.09

Drawdowns

BUFB vs. JEPQ - Drawdown Comparison

The maximum BUFB drawdown since its inception was -14.88%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for BUFB and JEPQ.

Drawdown Indicators

	BUFB	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-14.88%	-20.07%	+5.19%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-8.82%	+3.70%
Max Drawdown (3Y) Largest decline over 3 years	-13.75%	-20.07%	+6.32%
Current Drawdown Current decline from peak	-0.08%	-0.21%	+0.13%
Average Drawdown Average peak-to-trough decline	-2.87%	-3.42%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.79%	-0.83%

Volatility

BUFB vs. JEPQ - Volatility Comparison

Innovator Laddered Allocation Buffer ETF (BUFB) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) have volatilities of 1.31% and 1.28%, 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

	BUFB	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	1.28%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	9.06%	-3.30%
Volatility (1Y) Calculated over the trailing 1-year period	7.51%	11.72%	-4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.00%	16.60%	-4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.00%	16.60%	-4.60%

BUFB vs. JEPQ - Expense Ratio Comparison

BUFB has a 0.89% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

BUFB vs. JEPQ - Dividend Comparison

BUFB has not paid dividends to shareholders, while JEPQ's dividend yield for the trailing twelve months is around 10.08%.

Position	TTM	2025	2024	2023	2022
BUFB Innovator Laddered Allocation Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.08%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both BUFB and JEPQ in my portfolio?

BUFB and JEPQ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFB or JEPQ?

BUFB has higher volatility (1.31%) compared to JEPQ (1.28%). In terms of maximum drawdown, BUFB dropped -14.88% vs JEPQ's -20.07%.

Which ETF is better, BUFB or JEPQ?

On 3-year performance, JEPQ leads with 20.81% vs 15.93% for BUFB. On fees, JEPQ is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFB or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.81% return vs 15.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFB or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.89% for BUFB.

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

JEPQ has the higher dividend yield at 10.08%, compared with 0.00% for BUFB.

What is the main difference between BUFB and JEPQ?

BUFB is categorized as Defined Outcome, while JEPQ is Nasdaq-100. BUFB tracks MerQube U.S. Large Cap Equity Buffer Laddered Index - Benchmark TR Gross, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Innovator and JPMorgan. Their fees differ too: 0.89% for BUFB and 0.35% for JEPQ.

Which has better risk-adjusted returns?

BUFB currently has the higher Sharpe Ratio (2.58 vs 2.45), 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.