EWC vs. JEPQ

Last updated Jun 16, 2026

EWC (iShares MSCI Canada ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - EWC is a Canada Equities fund tracking the MSCI Canada Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, EWC returned 21.53%/yr vs 20.72%/yr for JEPQ. A 0.62 correlation means they provide meaningful diversification when combined. EWC charges 0.49%/yr vs 0.35%/yr for JEPQ.

Performance

EWC vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Canada ETF (EWC) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with EWC having a 9.79% return and JEPQ slightly higher at 10.23%.

EWC

• 1D: 0.76%
• 1M: 3.08%
• YTD: 9.79%
• 6M: 11.03%
• 1Y: 31.07%
• 3Y*: 21.53%
• 5Y*: 11.54%
• 10Y*: 11.51%

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)

EWC vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EWC iShares MSCI Canada ETF	9.79%	35.92%	12.38%	14.73%	-10.70%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.23%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between EWC and JEPQ is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.62

The correlation between EWC and JEPQ has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.

EWC vs. JEPQ - Sectors Allocation Comparison

Sectors	EWC	JEPQ
Financial Services	38.7%	0.3%
Energy	18.3%	0.3%
Basic Materials	15.7%	0.9%
Industrials	9.2%	2.8%
Technology	8.3%	58.9%
Consumer Cyclical	3.5%	11.8%
Consumer Defensive	3.1%	6.0%
Utilities	2.2%	1.1%
Communication Services	0.9%	13.9%
Real Estate	0.2%	0.2%
Healthcare	-	3.9%

Return for Risk

EWC vs. JEPQ — Risk / Return Rank

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

EWC

EWC Risk / Return Rank: 75
EWC Sharpe Ratio Rank: 75
EWC Sortino Ratio Rank: 70
EWC Omega Ratio Rank: 70
EWC Calmar Ratio Rank: 78
EWC Martin Ratio Rank: 83

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.

EWC vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Canada ETF (EWC) 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.

	EWC	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.31	-0.14
Sortino ratio: Return per unit of downside risk	2.85	3.06	-0.21
Omega ratio: Gain probability vs. loss probability	1.37	1.46	-0.09
Calmar ratio: Return relative to maximum drawdown	3.67	3.35	+0.32
Martin ratio: Return relative to average drawdown	14.91	15.94	-1.03

EWC vs. JEPQ - Sharpe Ratio Comparison

The current EWC Sharpe Ratio is 2.17, which is comparable to the JEPQ Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of EWC 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

EWC vs. JEPQ - Drawdown Comparison

The maximum EWC drawdown since its inception was -60.75%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for EWC and JEPQ.

Drawdown Indicators

	EWC	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-60.75%	-20.07%	-40.68%
Max Drawdown (1Y) Largest decline over 1 year	-8.51%	-8.82%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-12.97%	-20.07%	+7.10%
Max Drawdown (5Y) Largest decline over 5 years	-24.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.66%	—	—
Current Drawdown Current decline from peak	-0.42%	0.00%	-0.42%
Average Drawdown Average peak-to-trough decline	-13.13%	-3.41%	-9.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	1.85%	+0.24%

Volatility

EWC vs. JEPQ - Volatility Comparison

The current volatility for iShares MSCI Canada ETF (EWC) is 4.42%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.42%. This indicates that EWC 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

	EWC	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	5.42%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	11.32%	10.44%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	12.78%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	16.76%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.74%	16.76%	+1.98%

EWC vs. JEPQ - Expense Ratio Comparison

EWC has a 0.49% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

EWC vs. JEPQ - Dividend Comparison

EWC's dividend yield for the trailing twelve months is around 1.79%, less than JEPQ's 10.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWC iShares MSCI Canada ETF	1.79%	1.45%	2.23%	2.27%	2.34%	1.85%	2.09%	2.16%	2.65%	1.97%	1.75%	2.34%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.00%	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

Can I hold both EWC and JEPQ in my portfolio?

EWC and JEPQ have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWC or JEPQ?

JEPQ has higher volatility (5.42%) compared to EWC (4.42%). In terms of maximum drawdown, EWC dropped -60.75% vs JEPQ's -20.07%.

Which ETF is better, EWC or JEPQ?

On 3-year performance, EWC leads with 21.53% vs 20.72% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, EWC has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWC or JEPQ?

Over the 3-year period, EWC has performed better with a 21.53% return vs 20.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWC or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.49% for EWC.

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

JEPQ has the higher dividend yield at 10.00%, compared with 1.79% for EWC.

What is the main difference between EWC and JEPQ?

EWC is categorized as Canada Equities, while JEPQ is Nasdaq-100. EWC tracks MSCI Canada Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.49% for EWC and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.31 vs 2.17), 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.