FTHI vs. JEPQ

Last updated Jun 23, 2026

FTHI (First Trust BuyWrite Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - FTHI is a Derivative Income fund actively managed by First Trust, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. FTHI is actively managed, while JEPQ is passively managed. Over the past 3 years, FTHI returned 14.55%/yr vs 20.80%/yr for JEPQ. Their correlation of 0.83 suggests significant overlap in exposure. FTHI charges 0.85%/yr vs 0.35%/yr for JEPQ.

Performance

FTHI vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust BuyWrite Income ETF (FTHI) 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, FTHI achieves a 5.63% return, which is significantly lower than JEPQ's 10.59% return.

FTHI

• 1D: 0.25%
• 1M: 0.67%
• YTD: 5.63%
• 6M: 5.23%
• 1Y: 17.10%
• 3Y*: 14.55%
• 5Y*: 10.58%
• 10Y*: 8.74%

JEPQ

• 1D: 0.07%
• 1M: 2.89%
• YTD: 10.59%
• 6M: 10.22%
• 1Y: 29.42%
• 3Y*: 20.80%
• 5Y*: —
• 10Y*: —

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

FTHI vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FTHI First Trust BuyWrite Income ETF	5.63%	11.03%	19.02%	20.72%	-5.55%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between FTHI and JEPQ is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.83

The correlation between FTHI and JEPQ has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

Return for Risk

FTHI vs. JEPQ — Risk / Return Rank

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

FTHI

FTHI Risk / Return Rank: 63
FTHI Sharpe Ratio Rank: 59
FTHI Sortino Ratio Rank: 59
FTHI Omega Ratio Rank: 60
FTHI Calmar Ratio Rank: 65
FTHI Martin Ratio Rank: 74

JEPQ

JEPQ Risk / Return Rank: 75
JEPQ Sharpe Ratio Rank: 75
JEPQ Sortino Ratio Rank: 70
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

FTHI vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust BuyWrite Income ETF (FTHI) 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.

	FTHI	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.30	-0.41
Sortino ratio: Return per unit of downside risk	2.72	3.05	-0.34
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.10
Calmar ratio: Return relative to maximum drawdown	3.14	3.35	-0.21
Martin ratio: Return relative to average drawdown	13.44	15.94	-2.51

FTHI vs. JEPQ - Sharpe Ratio Comparison

The current FTHI Sharpe Ratio is 1.90, which is comparable to the JEPQ Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FTHI 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

FTHI vs. JEPQ - Drawdown Comparison

The maximum FTHI drawdown since its inception was -32.65%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for FTHI and JEPQ.

Drawdown Indicators

	FTHI	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-32.65%	-20.07%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-5.47%	-8.82%	+3.35%
Max Drawdown (3Y) Largest decline over 3 years	-15.92%	-20.07%	+4.15%
Max Drawdown (5Y) Largest decline over 5 years	-16.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.65%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.67%	-3.40%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	1.85%	-0.57%

Volatility

FTHI vs. JEPQ - Volatility Comparison

The current volatility for First Trust BuyWrite Income ETF (FTHI) is 2.60%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.68%. This indicates that FTHI 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

	FTHI	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	5.68%	-3.08%
Volatility (6M) Calculated over the trailing 6-month period	7.31%	10.33%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	9.07%	12.85%	-3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.43%	16.75%	-3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.31%	16.75%	-2.44%

FTHI vs. JEPQ - Expense Ratio Comparison

FTHI has a 0.85% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

FTHI vs. JEPQ - Dividend Comparison

FTHI's dividend yield for the trailing twelve months is around 8.66%, less than JEPQ's 9.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTHI First Trust BuyWrite Income ETF	8.66%	8.70%	8.61%	8.50%	9.06%	4.37%	4.76%	4.21%	4.76%	4.00%	4.41%	4.98%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.97%	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 FTHI and JEPQ in my portfolio?

FTHI and JEPQ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTHI or JEPQ?

JEPQ has higher volatility (5.68%) compared to FTHI (2.60%). In terms of maximum drawdown, FTHI dropped -32.65% vs JEPQ's -20.07%.

Which ETF is better, FTHI or JEPQ?

On 3-year performance, JEPQ leads with 20.80% vs 14.55% for FTHI. On fees, JEPQ is cheaper at 0.35% per year. On volatility, FTHI has been the lower-risk option at 2.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTHI or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.80% return vs 14.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTHI or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.85% for FTHI.

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

JEPQ has the higher dividend yield at 9.97%, compared with 8.66% for FTHI.

What is the main difference between FTHI and JEPQ?

FTHI is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.85% for FTHI and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.30 vs 1.90), 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.