CHPY vs. JEPQ

Last updated Jun 16, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - CHPY is a Derivative Income fund actively managed by YieldMax, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. CHPY is actively managed, while JEPQ is passively managed. Over the past year, CHPY returned 148.83% vs 29.39% for JEPQ. A 0.80 correlation means they provide meaningful diversification when combined. CHPY charges 0.99%/yr vs 0.35%/yr for JEPQ.

Performance

CHPY vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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, CHPY achieves a 88.78% return, which is significantly higher than JEPQ's 10.23% return.

CHPY

• 1D: 5.00%
• 1M: 22.07%
• YTD: 88.78%
• 6M: 92.44%
• 1Y: 148.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 2.21%
• 1M: 3.31%
• YTD: 10.23%
• 6M: 11.56%
• 1Y: 29.39%
• 3Y*: 20.72%
• 5Y*: —
• 10Y*: —

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

CHPY vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	88.78%	56.76%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.23%	21.81%

Correlation

The correlation between CHPY and JEPQ is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.80

The correlation between CHPY and JEPQ has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

Return for Risk

CHPY vs. JEPQ — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 95
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 98
CHPY Martin Ratio Rank: 97

JEPQ

JEPQ Risk / Return Rank: 81
JEPQ Sharpe Ratio Rank: 81
JEPQ Sortino Ratio Rank: 77
JEPQ Omega Ratio Rank: 85
JEPQ Calmar Ratio Rank: 73
JEPQ Martin Ratio Rank: 86

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.

CHPY vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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.

	CHPY	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	4.83	2.31	+2.52
Sortino ratio: Return per unit of downside risk	4.95	3.06	+1.89
Omega ratio: Gain probability vs. loss probability	1.73	1.46	+0.27
Calmar ratio: Return relative to maximum drawdown	12.31	3.35	+8.96
Martin ratio: Return relative to average drawdown	43.93	15.94	+27.99

CHPY vs. JEPQ - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 4.83, which is higher than the JEPQ Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of CHPY 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

CHPY vs. JEPQ - Drawdown Comparison

The maximum CHPY drawdown since its inception was -12.19%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for CHPY and JEPQ.

Drawdown Indicators

	CHPY	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-12.19%	-20.07%	+7.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-8.82%	-3.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.12%	-3.41%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	1.85%	+1.55%

Volatility

CHPY vs. JEPQ - Volatility Comparison

YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a higher volatility of 17.55% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 5.42%. This indicates that CHPY'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

	CHPY	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.55%	5.42%	+12.13%
Volatility (6M) Calculated over the trailing 6-month period	26.62%	10.44%	+16.18%
Volatility (1Y) Calculated over the trailing 1-year period	31.06%	12.78%	+18.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.45%	16.76%	+18.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.45%	16.76%	+18.69%

CHPY vs. JEPQ - Expense Ratio Comparison

CHPY has a 0.99% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

CHPY vs. JEPQ - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 28.02%, more than JEPQ's 10.00% yield.

Position	TTM	2025	2024	2023	2022
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.02%	28.19%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.00%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both CHPY and JEPQ in my portfolio?

CHPY and JEPQ have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHPY or JEPQ?

CHPY has higher volatility (17.55%) compared to JEPQ (5.42%). In terms of maximum drawdown, CHPY dropped -12.19% vs JEPQ's -20.07%.

Which ETF is better, CHPY or JEPQ?

On 1-year performance, CHPY leads with 148.83% vs 29.39% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or JEPQ?

Over the 1-year period, CHPY has performed better with a 148.83% return vs 29.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.99% for CHPY.

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

CHPY has the higher dividend yield at 28.02%, compared with 10.00% for JEPQ.

What is the main difference between CHPY and JEPQ?

CHPY is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: YieldMax and JPMorgan. Their fees differ too: 0.99% for CHPY and 0.35% for JEPQ.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (4.83 vs 2.31), 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.