FFUT vs. JEPQ

Last updated Jun 24, 2026

FFUT (Fidelity Managed Futures ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - FFUT is a Systematic Trend fund actively managed by Fidelity, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. FFUT is actively managed, while JEPQ is passively managed. Over the past year, FFUT returned 18.72% vs 25.10% for JEPQ. At a 0.11 correlation, their price movements are largely independent. FFUT charges 0.80%/yr vs 0.35%/yr for JEPQ.

Performance

FFUT vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Futures ETF (FFUT) 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, FFUT achieves a 8.83% return, which is significantly higher than JEPQ's 7.85% return.

FFUT

• 1D: -0.36%
• 1M: -2.69%
• YTD: 8.83%
• 6M: 9.28%
• 1Y: 18.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -2.48%
• 1M: 0.34%
• YTD: 7.85%
• 6M: 7.02%
• 1Y: 25.10%
• 3Y*: 19.79%
• 5Y*: —
• 10Y*: —

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

FFUT vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
FFUT Fidelity Managed Futures ETF	8.83%	8.58%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	17.52%

Correlation

The correlation between FFUT and JEPQ is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.11

Return for Risk

FFUT vs. JEPQ — Risk / Return Rank

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

FFUT

FFUT Risk / Return Rank: 64
FFUT Sharpe Ratio Rank: 51
FFUT Sortino Ratio Rank: 51
FFUT Omega Ratio Rank: 54
FFUT Calmar Ratio Rank: 84
FFUT Martin Ratio Rank: 79

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 66
JEPQ Calmar Ratio Rank: 60
JEPQ Martin Ratio Rank: 74

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.

FFUT vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Futures ETF (FFUT) 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.

	FFUT	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.93	-0.25
Sortino ratio: Return per unit of downside risk	2.40	2.57	-0.17
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.06
Calmar ratio: Return relative to maximum drawdown	4.35	2.86	+1.49
Martin ratio: Return relative to average drawdown	14.55	13.55	+1.00

FFUT vs. JEPQ - Sharpe Ratio Comparison

The current FFUT Sharpe Ratio is 1.68, which is comparable to the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FFUT 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

FFUT vs. JEPQ - Drawdown Comparison

The maximum FFUT drawdown since its inception was -4.33%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for FFUT and JEPQ.

Drawdown Indicators

	FFUT	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-4.33%	-20.07%	+15.74%
Max Drawdown (1Y) Largest decline over 1 year	-4.33%	-8.82%	+4.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-4.33%	-2.48%	-1.85%
Average Drawdown Average peak-to-trough decline	-0.96%	-3.40%	+2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	1.86%	-0.57%

Volatility

FFUT vs. JEPQ - Volatility Comparison

The current volatility for Fidelity Managed Futures ETF (FFUT) is 2.93%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.27%. This indicates that FFUT 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

	FFUT	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	6.27%	-3.34%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	10.58%	-1.61%
Volatility (1Y) Calculated over the trailing 1-year period	11.22%	13.08%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.02%	16.79%	-5.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.02%	16.79%	-5.77%

FFUT vs. JEPQ - Expense Ratio Comparison

FFUT has a 0.80% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

FFUT vs. JEPQ - Dividend Comparison

FFUT's dividend yield for the trailing twelve months is around 1.92%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022
FFUT Fidelity Managed Futures ETF	1.92%	2.09%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both FFUT and JEPQ in my portfolio?

FFUT and JEPQ have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFUT or JEPQ?

JEPQ has higher volatility (6.27%) compared to FFUT (2.93%). In terms of maximum drawdown, FFUT dropped -4.33% vs JEPQ's -20.07%.

Which ETF is better, FFUT or JEPQ?

On 1-year performance, JEPQ leads with 25.10% vs 18.72% for FFUT. On fees, JEPQ is cheaper at 0.35% per year. On volatility, FFUT has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFUT or JEPQ?

Over the 1-year period, JEPQ has performed better with a 25.10% return vs 18.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFUT or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.80% for FFUT.

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

JEPQ has the higher dividend yield at 10.22%, compared with 1.92% for FFUT.

What is the main difference between FFUT and JEPQ?

FFUT is categorized as Systematic Trend, while JEPQ is Nasdaq-100. They also come from different issuers: Fidelity and JPMorgan. Their fees differ too: 0.80% for FFUT and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.93 vs 1.68), 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.