CANQ vs. JEPQ

Last updated Jun 20, 2026

CANQ (Calamos Alternative Nasdaq & Bond ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds. CANQ is actively managed, while JEPQ is passively managed. Over the past year, CANQ returned 16.04% vs 29.09% for JEPQ. Their correlation of 0.88 suggests significant overlap in exposure. CANQ charges 0.90%/yr vs 0.35%/yr for JEPQ.

Performance

CANQ vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Alternative Nasdaq & Bond ETF (CANQ) 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, CANQ achieves a 5.57% return, which is significantly lower than JEPQ's 10.52% return.

CANQ

• 1D: 1.20%
• 1M: 0.50%
• YTD: 5.57%
• 6M: 5.69%
• 1Y: 16.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 1.61%
• 1M: 3.22%
• YTD: 10.52%
• 6M: 10.65%
• 1Y: 29.09%
• 3Y*: 20.83%
• 5Y*: —
• 10Y*: —

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

CANQ vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CANQ Calamos Alternative Nasdaq & Bond ETF	5.57%	11.69%	18.99%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.52%	15.18%	18.20%

Correlation

The correlation between CANQ and JEPQ is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Feb 13, 2024	0.88

The correlation between CANQ and JEPQ has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

Return for Risk

CANQ vs. JEPQ — Risk / Return Rank

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

CANQ

CANQ Risk / Return Rank: 37
CANQ Sharpe Ratio Rank: 42
CANQ Sortino Ratio Rank: 41
CANQ Omega Ratio Rank: 40
CANQ Calmar Ratio Rank: 31
CANQ Martin Ratio Rank: 33

JEPQ

JEPQ Risk / Return Rank: 76
JEPQ Sharpe Ratio Rank: 76
JEPQ Sortino Ratio Rank: 72
JEPQ Omega Ratio Rank: 81
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.

CANQ vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Alternative Nasdaq & Bond ETF (CANQ) 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.

	CANQ	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.42	2.28	-0.86
Sortino ratio: Return per unit of downside risk	2.00	3.02	-1.03
Omega ratio: Gain probability vs. loss probability	1.25	1.45	-0.20
Calmar ratio: Return relative to maximum drawdown	1.50	3.31	-1.82
Martin ratio: Return relative to average drawdown	4.56	15.77	-11.20

CANQ vs. JEPQ - Sharpe Ratio Comparison

The current CANQ Sharpe Ratio is 1.42, which is lower than the JEPQ Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of CANQ 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

CANQ vs. JEPQ - Drawdown Comparison

The maximum CANQ drawdown since its inception was -12.79%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for CANQ and JEPQ.

Drawdown Indicators

	CANQ	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-12.79%	-20.07%	+7.28%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	-8.82%	-1.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-2.24%	0.00%	-2.24%
Average Drawdown Average peak-to-trough decline	-2.95%	-3.40%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	1.85%	+1.67%

Volatility

CANQ vs. JEPQ - Volatility Comparison

The current volatility for Calamos Alternative Nasdaq & Bond ETF (CANQ) is 4.59%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.70%. This indicates that CANQ experiences smaller price fluctuations and is considered to be less risky than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CANQ	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	5.70%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	10.49%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.37%	12.83%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	16.76%	-3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.84%	16.76%	-3.92%

CANQ vs. JEPQ - Expense Ratio Comparison

CANQ has a 0.90% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

CANQ vs. JEPQ - Dividend Comparison

CANQ's dividend yield for the trailing twelve months is around 4.44%, less than JEPQ's 9.98% yield.

Position	TTM	2025	2024	2023	2022
CANQ Calamos Alternative Nasdaq & Bond ETF	4.44%	5.02%	4.19%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.98%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both CANQ and JEPQ in my portfolio?

CANQ and JEPQ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CANQ or JEPQ?

JEPQ has higher volatility (5.70%) compared to CANQ (4.59%). In terms of maximum drawdown, CANQ dropped -12.79% vs JEPQ's -20.07%.

Which ETF is better, CANQ or JEPQ?

On 1-year performance, JEPQ leads with 29.09% vs 16.04% for CANQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, CANQ has been the lower-risk option at 4.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CANQ or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.09% return vs 16.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CANQ or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.90% for CANQ.

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

JEPQ has the higher dividend yield at 9.98%, compared with 4.44% for CANQ.

What is the main difference between CANQ and JEPQ?

They also come from different issuers: Calamos and JPMorgan. Their fees differ too: 0.90% for CANQ and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.28 vs 1.42), 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.