EVHY vs. JEPQ

Last updated Jun 3, 2026

EVHY (Eaton Vance High Yield ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - EVHY is a High Yield Bonds fund actively managed by Eaton Vance, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. EVHY is actively managed, while JEPQ is passively managed. Over the past year, EVHY returned 7.04% vs 29.60% for JEPQ. A 0.57 correlation means they provide meaningful diversification when combined. EVHY charges 0.48%/yr vs 0.35%/yr for JEPQ.

Performance

EVHY vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance High Yield ETF (EVHY) 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, EVHY achieves a 1.33% return, which is significantly lower than JEPQ's 9.65% return.

EVHY

• 1D: 0.11%
• 1M: 0.46%
• YTD: 1.33%
• 6M: 1.94%
• 1Y: 7.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.26%
• 1M: 4.36%
• YTD: 9.65%
• 6M: 10.05%
• 1Y: 29.60%
• 3Y*: 20.96%
• 5Y*: —
• 10Y*: —

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

EVHY vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVHY Eaton Vance High Yield ETF	1.33%	9.14%	6.39%	8.90%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.65%	15.18%	24.85%	9.26%

Correlation

The correlation between EVHY and JEPQ is 0.65, 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	0.65
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.57

The correlation between EVHY and JEPQ has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.

Return for Risk

EVHY vs. JEPQ — Risk / Return Rank

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

EVHY

EVHY Risk / Return Rank: 65
EVHY Sharpe Ratio Rank: 62
EVHY Sortino Ratio Rank: 69
EVHY Omega Ratio Rank: 68
EVHY Calmar Ratio Rank: 55
EVHY Martin Ratio Rank: 71

JEPQ

JEPQ Risk / Return Rank: 77
JEPQ Sharpe Ratio Rank: 77
JEPQ Sortino Ratio Rank: 73
JEPQ Omega Ratio Rank: 82
JEPQ Calmar Ratio Rank: 68
JEPQ Martin Ratio Rank: 83

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.

EVHY vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield ETF (EVHY) 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.

	EVHY	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	2.10	2.54	-0.43
Sortino ratio Return per unit of downside risk	3.20	3.35	-0.15
Omega ratio Gain probability vs. loss probability	1.42	1.50	-0.08
Calmar ratio Return relative to maximum drawdown	2.79	3.42	-0.64
Martin ratio Return relative to average drawdown	13.52	16.82	-3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVHY vs. JEPQ - Sharpe Ratio Comparison

The current EVHY Sharpe Ratio is 2.10, which is comparable to the JEPQ Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of EVHY 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

	EVHY	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.54	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	1.01	+1.21

Drawdowns

EVHY vs. JEPQ - Drawdown Comparison

The maximum EVHY drawdown since its inception was -3.71%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for EVHY and JEPQ.

Drawdown Indicators

	EVHY	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-3.71%	-20.07%	+16.36%
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	-8.82%	+6.31%
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	-0.37%	-3.42%	+3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.79%	-1.27%

Volatility

EVHY vs. JEPQ - Volatility Comparison

The current volatility for Eaton Vance High Yield ETF (EVHY) is 1.04%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 1.25%. This indicates that EVHY 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

	EVHY	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	1.25%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.69%	9.07%	-6.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	11.73%	-8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.53%	16.62%	-12.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.53%	16.62%	-12.09%

EVHY vs. JEPQ - Expense Ratio Comparison

EVHY has a 0.48% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

EVHY vs. JEPQ - Dividend Comparison

EVHY's dividend yield for the trailing twelve months is around 7.19%, less than JEPQ's 10.06% yield.

Position	TTM	2025	2024	2023	2022
EVHY Eaton Vance High Yield ETF	7.19%	7.39%	7.66%	1.44%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.06%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both EVHY and JEPQ in my portfolio?

EVHY and JEPQ have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVHY or JEPQ?

JEPQ has higher volatility (1.25%) compared to EVHY (1.04%). In terms of maximum drawdown, EVHY dropped -3.71% vs JEPQ's -20.07%.

Which ETF is better, EVHY or JEPQ?

On 1-year performance, JEPQ leads with 29.60% vs 7.04% for EVHY. On fees, JEPQ is cheaper at 0.35% per year. On volatility, EVHY has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVHY or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.60% return vs 7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVHY or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.48% for EVHY.

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

JEPQ has the higher dividend yield at 10.06%, compared with 7.19% for EVHY.

What is the main difference between EVHY and JEPQ?

EVHY is categorized as High Yield Bonds, while JEPQ is Nasdaq-100. They also come from different issuers: Eaton Vance and JPMorgan. Their fees differ too: 0.48% for EVHY and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.54 vs 2.10), 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.