FIDLX vs. JEPQ

Last updated Jul 14, 2026

FIDLX (Fidelity Advisor Large Cap Fund Class Z) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - FIDLX is a Large Cap Value Equities fund managed by Fidelity, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. A 0.75 correlation means they provide meaningful diversification when combined. FIDLX charges 0.42%/yr vs 0.35%/yr for JEPQ.

Performance

FIDLX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Large Cap Fund Class Z (FIDLX) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIDLX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -1.52%
• 1M: 0.59%
• 6M: 6.42%
• YTD: 8.49%
• 1Y: 22.08%
• 3Y*: 18.89%
• 5Y*: —
• 10Y*: —

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

FIDLX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FIDLX Fidelity Advisor Large Cap Fund Class Z	0.02%	19.77%	26.52%	23.65%	-1.95%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	8.49%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between FIDLX and JEPQ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.75

Over the past year, the correlation between FIDLX and JEPQ has dropped to 0.40 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

FIDLX vs. JEPQ — Risk / Return Rank

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

FIDLX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

JEPQ

JEPQ Risk / Return Rank: 65
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 58
JEPQ Omega Ratio Rank: 65
JEPQ Calmar Ratio Rank: 63
JEPQ Martin Ratio Rank: 77

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.

FIDLX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Large Cap Fund Class Z (FIDLX) 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.

	FIDLX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.62	—
Sortino ratio: Return per unit of downside risk	—	2.19	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.52	—
Martin ratio: Return relative to average drawdown	—	11.61	—

Drawdowns

Drawdown Indicators

	FIDLX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-20.07%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.82%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	—	-2.03%	—
Average Drawdown Average peak-to-trough decline	—	-3.37%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	FIDLX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.75%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.82%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.82%	—

FIDLX vs. JEPQ - Expense Ratio Comparison

FIDLX has a 0.42% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

FIDLX vs. JEPQ - Dividend Comparison

FIDLX has not paid dividends to shareholders, while JEPQ's dividend yield for the trailing twelve months is around 10.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIDLX Fidelity Advisor Large Cap Fund Class Z	5.87%	5.87%	6.23%	3.56%	2.42%	6.64%	5.53%	8.55%	17.01%	6.13%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.51%	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 FIDLX and JEPQ in my portfolio?

FIDLX and JEPQ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.