FTQI vs. JEPQ

Last updated Jun 4, 2026

FTQI (First Trust Nasdaq BuyWrite Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds - FTQI tracks the NASDAQ-100 Index while JEPQ tracks the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, FTQI returned 17.12%/yr vs 20.92%/yr for JEPQ. Their correlation of 0.90 suggests significant overlap in exposure. FTQI charges 0.75%/yr vs 0.35%/yr for JEPQ.

Performance

FTQI vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq BuyWrite Income ETF (FTQI) 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, FTQI achieves a 10.78% return, which is significantly higher than JEPQ's 9.54% return.

FTQI

• 1D: 0.09%
• 1M: 4.10%
• YTD: 10.78%
• 6M: 11.65%
• 1Y: 28.18%
• 3Y*: 17.12%
• 5Y*: 10.92%
• 10Y*: 8.07%

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

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

FTQI vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FTQI First Trust Nasdaq BuyWrite Income ETF	10.78%	12.68%	18.30%	23.63%	-12.63%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	15.18%	24.85%	36.28%	-12.89%

Correlation

The correlation between FTQI and JEPQ is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 5, 2022	0.90

The correlation between FTQI and JEPQ has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

FTQI vs. JEPQ - Sectors Allocation Comparison

Sectors	FTQI	JEPQ
Technology	35.5%	54.0%
Financial Services	13.3%	0.4%
Consumer Cyclical	8.4%	12.8%
Healthcare	8.4%	4.4%
Energy	7.4%	0.4%
Industrials	7.4%	3.1%
Consumer Defensive	5.9%	7.1%
Basic Materials	3.9%	1.0%
Utilities	3.9%	1.3%
Communication Services	3.4%	15.4%
Real Estate	2.0%	0.2%

Return for Risk

FTQI vs. JEPQ — Risk / Return Rank

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

FTQI

FTQI Risk / Return Rank: 85
FTQI Sharpe Ratio Rank: 83
FTQI Sortino Ratio Rank: 83
FTQI Omega Ratio Rank: 85
FTQI Calmar Ratio Rank: 84
FTQI Martin Ratio Rank: 91

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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.

FTQI vs. JEPQ - Risk-Adjusted Trends Comparison

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

	FTQI	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.74	2.49	+0.25
Sortino ratio: Return per unit of downside risk	3.77	3.29	+0.48
Omega ratio: Gain probability vs. loss probability	1.52	1.49	+0.03
Calmar ratio: Return relative to maximum drawdown	4.54	3.31	+1.23
Martin ratio: Return relative to average drawdown	22.02	16.22	+5.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTQI vs. JEPQ - Sharpe Ratio Comparison

The current FTQI Sharpe Ratio is 2.74, which is comparable to the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of FTQI 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.

Sharpe Ratios by Period

	FTQI	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	2.49	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.00	-0.48

Drawdowns

FTQI vs. JEPQ - Drawdown Comparison

The maximum FTQI drawdown since its inception was -19.42%, roughly equal to the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for FTQI and JEPQ.

Drawdown Indicators

	FTQI	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-19.42%	-20.07%	+0.65%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-8.82%	+2.58%
Max Drawdown (3Y) Largest decline over 3 years	-19.42%	-20.07%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.42%	—	—
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-3.76%	-3.42%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	1.79%	-0.51%

Volatility

FTQI vs. JEPQ - Volatility Comparison

First Trust Nasdaq BuyWrite Income ETF (FTQI) has a higher volatility of 1.66% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.26%. This indicates that FTQI'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

	FTQI	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	1.26%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	9.07%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	11.73%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	16.61%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.36%	16.61%	-3.25%

FTQI vs. JEPQ - Expense Ratio Comparison

FTQI has a 0.75% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

FTQI vs. JEPQ - Dividend Comparison

FTQI's dividend yield for the trailing twelve months is around 10.96%, more than JEPQ's 10.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.96%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	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 FTQI and JEPQ in my portfolio?

With a correlation of 0.90, FTQI and JEPQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FTQI or JEPQ?

FTQI has higher volatility (1.66%) compared to JEPQ (1.26%). In terms of maximum drawdown, FTQI dropped -19.42% vs JEPQ's -20.07%.

Which ETF is better, FTQI or JEPQ?

On 3-year performance, JEPQ leads with 20.92% vs 17.12% for FTQI. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTQI or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.92% return vs 17.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTQI or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.75% for FTQI.

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

FTQI has the higher dividend yield at 10.96%, compared with 10.07% for JEPQ.

What is the main difference between FTQI and JEPQ?

FTQI tracks NASDAQ-100 Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.75% for FTQI and 0.35% for JEPQ.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.74 vs 2.49), 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.