FAPCX vs. JEPQ

Last updated Jun 13, 2026

FAPCX (Fidelity International Capital Appreciation K6 Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - FAPCX is a Foreign Large Cap Equities fund managed by Fidelity, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, FAPCX returned 14.88%/yr vs 19.91%/yr for JEPQ. A 0.78 correlation means they provide meaningful diversification when combined. FAPCX charges 0.65%/yr vs 0.35%/yr for JEPQ.

Performance

FAPCX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Capital Appreciation K6 Fund (FAPCX) 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 FAPCX having a 7.72% return and JEPQ slightly higher at 7.85%.

FAPCX

• 1D: 4.73%
• 1M: 0.48%
• YTD: 7.72%
• 6M: 9.22%
• 1Y: 10.33%
• 3Y*: 14.88%
• 5Y*: 6.60%
• 10Y*: —

JEPQ

• 1D: 0.62%
• 1M: 0.88%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 25.53%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

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

FAPCX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FAPCX Fidelity International Capital Appreciation K6 Fund	7.72%	18.82%	8.28%	27.54%	-6.17%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between FAPCX and JEPQ is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.78

The correlation between FAPCX and JEPQ has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

Return for Risk

FAPCX vs. JEPQ — Risk / Return Rank

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

FAPCX

FAPCX Risk / Return Rank: 11
FAPCX Sharpe Ratio Rank: 10
FAPCX Sortino Ratio Rank: 11
FAPCX Omega Ratio Rank: 11
FAPCX Calmar Ratio Rank: 11
FAPCX Martin Ratio Rank: 13

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

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.

FAPCX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Capital Appreciation K6 Fund (FAPCX) 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.

	FAPCX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	0.56	2.03	-1.47
Sortino ratio: Return per unit of downside risk	0.92	2.69	-1.77
Omega ratio: Gain probability vs. loss probability	1.12	1.40	-0.28
Calmar ratio: Return relative to maximum drawdown	0.73	2.91	-2.18
Martin ratio: Return relative to average drawdown	2.73	13.84	-11.11

FAPCX vs. JEPQ - Sharpe Ratio Comparison

The current FAPCX Sharpe Ratio is 0.56, which is lower than the JEPQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FAPCX 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

FAPCX vs. JEPQ - Drawdown Comparison

The maximum FAPCX drawdown since its inception was -37.09%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for FAPCX and JEPQ.

Drawdown Indicators

	FAPCX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-37.09%	-20.07%	-17.02%
Max Drawdown (1Y) Largest decline over 1 year	-14.45%	-8.82%	-5.63%
Max Drawdown (3Y) Largest decline over 3 years	-16.28%	-20.07%	+3.79%
Max Drawdown (5Y) Largest decline over 5 years	-37.09%	—	—
Current Drawdown Current decline from peak	-2.13%	-1.64%	-0.49%
Average Drawdown Average peak-to-trough decline	-7.72%	-3.41%	-4.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	1.85%	+1.99%

Volatility

FAPCX vs. JEPQ - Volatility Comparison

Fidelity International Capital Appreciation K6 Fund (FAPCX) has a higher volatility of 9.28% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 4.98%. This indicates that FAPCX'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

	FAPCX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.28%	4.98%	+4.30%
Volatility (6M) Calculated over the trailing 6-month period	16.79%	10.22%	+6.57%
Volatility (1Y) Calculated over the trailing 1-year period	18.74%	12.61%	+6.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	16.73%	+2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	16.73%	+1.99%

FAPCX vs. JEPQ - Expense Ratio Comparison

FAPCX has a 0.65% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

FAPCX vs. JEPQ - Dividend Comparison

FAPCX's dividend yield for the trailing twelve months is around 8.80%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAPCX Fidelity International Capital Appreciation K6 Fund	8.80%	9.48%	2.94%	0.42%	0.40%	8.83%	0.41%	0.87%	0.81%	1.95%
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%

Frequently Asked Questions

Can I hold both FAPCX and JEPQ in my portfolio?

FAPCX and JEPQ have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAPCX or JEPQ?

FAPCX has higher volatility (9.28%) compared to JEPQ (4.98%). In terms of maximum drawdown, FAPCX dropped -37.09% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.03 vs 0.56), 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.