CVY vs. JEPQ
CVY (Invesco Zacks Multi-Asset Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - CVY is a Diversified Portfolio fund tracking the Zacks Multi-Asset Income Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, CVY returned 15.39%/yr vs 19.91%/yr for JEPQ. A 0.52 correlation means they provide meaningful diversification when combined. CVY charges 1.21%/yr vs 0.35%/yr for JEPQ.
Performance
CVY vs. JEPQ - Performance Comparison
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Returns By Period
In the year-to-date period, CVY achieves a 10.45% return, which is significantly higher than JEPQ's 7.85% return.
CVY
- 1D
- 0.94%
- 1M
- 3.26%
- YTD
- 10.45%
- 6M
- 9.84%
- 1Y
- 18.64%
- 3Y*
- 15.39%
- 5Y*
- 7.49%
- 10Y*
- 8.96%
JEPQ
- 1D
- 0.62%
- 1M
- 1.08%
- YTD
- 7.85%
- 6M
- 8.80%
- 1Y
- 26.60%
- 3Y*
- 19.91%
- 5Y*
- —
- 10Y*
- —
CVY vs. JEPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 10.45% | 11.00% | 10.28% | 17.87% | -3.83% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 7.85% | 15.18% | 24.85% | 36.28% | -11.16% |
Correlation
The correlation between CVY and JEPQ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since May 4, 2022 | 0.52 |
The correlation between CVY and JEPQ shifts across timeframes, from 0.40 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CVY vs. JEPQ — Risk / Return Rank
CVY
JEPQ
CVY vs. JEPQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) 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.
| CVY | JEPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.91 | -0.45 |
| Martin ratioReturn relative to average drawdown | 8.22 | 13.84 | -5.61 |
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Drawdowns
CVY vs. JEPQ - Drawdown Comparison
The maximum CVY drawdown since its inception was -66.86%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for CVY and JEPQ.
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Drawdown Indicators
| CVY | JEPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.86% | -20.07% | -46.79% |
Max Drawdown (1Y)Largest decline over 1 year | -7.43% | -8.82% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -16.79% | -20.07% | +3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -21.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -50.47% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.64% | +1.64% |
Average DrawdownAverage peak-to-trough decline | -10.40% | -3.41% | -6.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.85% | +0.36% |
Volatility
CVY vs. JEPQ - Volatility Comparison
The current volatility for Invesco Zacks Multi-Asset Income ETF (CVY) is 3.13%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 4.98%. This indicates that CVY 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.
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Volatility by Period
| CVY | JEPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 4.98% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.89% | 10.22% | -2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.04% | 12.61% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.22% | 16.73% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 16.73% | +2.82% |
CVY vs. JEPQ - Expense Ratio Comparison
CVY has a 1.21% expense ratio, which is higher than JEPQ's 0.35% expense ratio.
Dividends
CVY vs. JEPQ - Dividend Comparison
CVY's dividend yield for the trailing twelve months is around 3.65%, less than JEPQ's 10.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 3.65% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 10.22% | 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
CVY and JEPQ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPQ has higher volatility (4.98%) compared to CVY (3.13%). In terms of maximum drawdown, CVY dropped -66.86% vs JEPQ's -20.07%.
On 3-year performance, JEPQ leads with 19.91% vs 15.39% for CVY. On fees, JEPQ is cheaper at 0.35% per year. On volatility, CVY has been the lower-risk option at 3.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JEPQ has performed better with a 19.91% return vs 15.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JEPQ is cheaper with a 0.35% expense ratio, compared with 1.21% for CVY.
JEPQ has the higher dividend yield at 10.22%, compared with 3.65% for CVY.
CVY is categorized as Diversified Portfolio, while JEPQ is Nasdaq-100. CVY tracks Zacks Multi-Asset Income Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 1.21% for CVY and 0.35% for JEPQ.
JEPQ currently has the higher Sharpe Ratio (2.03 vs 1.65), 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.
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