ETHD vs. JEPQ

Last updated Jun 4, 2026

ETHD (ProShares UltraShort Ether ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - ETHD is a Cryptocurrency fund actively managed by ProShares, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. ETHD is actively managed, while JEPQ is passively managed. Over the past year, ETHD returned -42.18% vs 29.00% for JEPQ. At a correlation of -0.49, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.35%/yr for JEPQ.

Performance

ETHD vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Ether ETF (ETHD) 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, ETHD achieves a 63.80% return, which is significantly higher than JEPQ's 9.54% return.

ETHD

• 1D: 11.25%
• 1M: 66.19%
• YTD: 63.80%
• 6M: 72.54%
• 1Y: -42.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

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

ETHD vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHD ProShares UltraShort Ether ETF	63.80%	-72.49%	-42.57%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	15.18%	10.09%

Correlation

The correlation between ETHD and JEPQ is -0.49, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.49
Correlation (All Time) Calculated using the full available price history since Jun 10, 2024	-0.49

Return for Risk

ETHD vs. JEPQ — Risk / Return Rank

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

ETHD

ETHD Risk / Return Rank: 8
ETHD Sharpe Ratio Rank: 6
ETHD Sortino Ratio Rank: 11
ETHD Omega Ratio Rank: 11
ETHD Calmar Ratio Rank: 4
ETHD Martin Ratio Rank: 6

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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.

ETHD vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) 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.

	ETHD	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	2.49	-2.80
Sortino ratio: Return per unit of downside risk	0.40	3.29	-2.89
Omega ratio: Gain probability vs. loss probability	1.05	1.49	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.51	3.31	-3.81
Martin ratio: Return relative to average drawdown	-0.64	16.22	-16.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHD vs. JEPQ - Sharpe Ratio Comparison

The current ETHD Sharpe Ratio is -0.31, which is lower than the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of ETHD 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

	ETHD	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.31	2.49	-2.80
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	1.00	-1.35

Drawdowns

ETHD vs. JEPQ - Drawdown Comparison

The maximum ETHD drawdown since its inception was -95.59%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for ETHD and JEPQ.

Drawdown Indicators

	ETHD	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-95.59%	-20.07%	-75.52%
Max Drawdown (1Y) Largest decline over 1 year	-83.63%	-8.82%	-74.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-87.20%	-0.10%	-87.10%
Average Drawdown Average peak-to-trough decline	-66.01%	-3.42%	-62.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	66.00%	1.79%	+64.21%

Volatility

ETHD vs. JEPQ - Volatility Comparison

ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 19.00% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.26%. This indicates that ETHD'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

	ETHD	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.00%	1.26%	+17.74%
Volatility (6M) Calculated over the trailing 6-month period	92.37%	9.07%	+83.30%
Volatility (1Y) Calculated over the trailing 1-year period	136.23%	11.73%	+124.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.19%	16.61%	+125.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.19%	16.61%	+125.58%

ETHD vs. JEPQ - Expense Ratio Comparison

ETHD has a 1.01% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

ETHD vs. JEPQ - Dividend Comparison

ETHD's dividend yield for the trailing twelve months is around 10.68%, more than JEPQ's 10.07% yield.

Position	TTM	2025	2024	2023	2022
ETHD ProShares UltraShort Ether ETF	10.68%	156.62%	19.15%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both ETHD and JEPQ in my portfolio?

ETHD and JEPQ have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHD or JEPQ?

ETHD has higher volatility (19.00%) compared to JEPQ (1.26%). In terms of maximum drawdown, ETHD dropped -95.59% vs JEPQ's -20.07%.

Which ETF is better, ETHD or JEPQ?

On 1-year performance, JEPQ leads with 29.00% vs -42.18% for ETHD. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHD or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.00% return vs -42.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHD or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 1.01% for ETHD.

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

ETHD has the higher dividend yield at 10.68%, compared with 10.07% for JEPQ.

What is the main difference between ETHD and JEPQ?

ETHD is categorized as Cryptocurrency, while JEPQ is Nasdaq-100. They also come from different issuers: ProShares and JPMorgan. Their fees differ too: 1.01% for ETHD and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.49 vs -0.31), 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.