FUSD.L vs. JEPQ.L

Last updated Jun 10, 2026

FUSD.L (Fidelity US Quality Income ETF Inc) and JEPQ.L (JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)) are both exchange-traded funds - FUSD.L is a Large Cap Blend Equities fund tracking the Fidelity US Quality Income Index NR, while JEPQ.L is a Nasdaq-100 fund actively managed by JPMorgan. FUSD.L is passively managed, while JEPQ.L is actively managed. Over the past year, FUSD.L returned 20.45% vs 24.41% for JEPQ.L. A 0.75 correlation means they provide meaningful diversification when combined. FUSD.L charges 0.25%/yr vs 0.35%/yr for JEPQ.L.

Performance

FUSD.L vs. JEPQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity US Quality Income ETF Inc (FUSD.L) and JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FUSD.L having a 5.71% return and JEPQ.L slightly lower at 5.67%.

FUSD.L

• 1D: -1.14%
• 1M: 0.15%
• YTD: 5.71%
• 6M: 6.40%
• 1Y: 20.45%
• 3Y*: 16.05%
• 5Y*: 10.15%
• 10Y*: —

JEPQ.L

• 1D: -1.43%
• 1M: -0.07%
• YTD: 5.67%
• 6M: 6.35%
• 1Y: 24.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FUSD.L vs. JEPQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FUSD.L Fidelity US Quality Income ETF Inc	5.71%	16.47%	-1.82%
JEPQ.L JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)	5.67%	14.79%	3.73%

Correlation

The correlation between FUSD.L and JEPQ.L is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.75

The correlation between FUSD.L and JEPQ.L has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.

FUSD.L vs. JEPQ.L - Sectors Allocation Comparison

Sectors	FUSD.L	JEPQ.L
Technology	35.0%	54.0%
Financial Services	12.6%	0.4%
Communication Services	10.6%	15.4%
Consumer Cyclical	9.3%	12.7%
Healthcare	9.1%	4.4%
Industrials	8.8%	3.1%
Consumer Defensive	4.5%	7.1%
Energy	3.5%	0.4%
Utilities	2.3%	1.3%
Basic Materials	2.2%	1.0%
Real Estate	2.1%	0.2%

Return for Risk

FUSD.L vs. JEPQ.L — Risk / Return Rank

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

FUSD.L

FUSD.L Risk / Return Rank: 68
FUSD.L Sharpe Ratio Rank: 68
FUSD.L Sortino Ratio Rank: 78
FUSD.L Omega Ratio Rank: 67
FUSD.L Calmar Ratio Rank: 58
FUSD.L Martin Ratio Rank: 68

JEPQ.L

JEPQ.L Risk / Return Rank: 73
JEPQ.L Sharpe Ratio Rank: 70
JEPQ.L Sortino Ratio Rank: 75
JEPQ.L Omega Ratio Rank: 75
JEPQ.L Calmar Ratio Rank: 67
JEPQ.L Martin Ratio Rank: 76

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.

FUSD.L vs. JEPQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity US Quality Income ETF Inc (FUSD.L) and JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L). 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.

	FUSD.L	JEPQ.L	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.01	-0.05
Sortino ratio: Return per unit of downside risk	3.05	2.92	+0.12
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	2.57	2.94	-0.37
Martin ratio: Return relative to average drawdown	11.20	12.84	-1.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FUSD.L vs. JEPQ.L - Sharpe Ratio Comparison

The current FUSD.L Sharpe Ratio is 1.96, which is comparable to the JEPQ.L Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of FUSD.L and JEPQ.L, 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

	FUSD.L	JEPQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	2.01	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.95	-0.20

Drawdowns

FUSD.L vs. JEPQ.L - Drawdown Comparison

The maximum FUSD.L drawdown since its inception was -35.98%, which is greater than JEPQ.L's maximum drawdown of -20.08%. Use the drawdown chart below to compare losses from any high point for FUSD.L and JEPQ.L.

Drawdown Indicators

	FUSD.L	JEPQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.98%	-20.08%	-15.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.94%	-8.31%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.25%	—	—
Current Drawdown Current decline from peak	-2.33%	-3.65%	+1.32%
Average Drawdown Average peak-to-trough decline	-4.19%	-2.78%	-1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.90%	-0.08%

Volatility

FUSD.L vs. JEPQ.L - Volatility Comparison

Fidelity US Quality Income ETF Inc (FUSD.L) has a higher volatility of 2.96% compared to JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L) at 2.69%. This indicates that FUSD.L's price experiences larger fluctuations and is considered to be riskier than JEPQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUSD.L	JEPQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	2.69%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	7.84%	9.18%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	12.16%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.70%	16.22%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.80%	16.22%	-0.42%

FUSD.L vs. JEPQ.L - Expense Ratio Comparison

FUSD.L has a 0.25% expense ratio, which is lower than JEPQ.L's 0.35% expense ratio.

Dividends

FUSD.L vs. JEPQ.L - Dividend Comparison

FUSD.L's dividend yield for the trailing twelve months is around 1.45%, less than JEPQ.L's 10.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FUSD.L Fidelity US Quality Income ETF Inc	1.45%	1.47%	0.47%	1.04%	0.56%	0.94%	1.26%
JEPQ.L JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)	10.49%	10.06%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FUSD.L and JEPQ.L in my portfolio?

FUSD.L and JEPQ.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FUSD.L or JEPQ.L?

On fees, FUSD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FUSD.L or JEPQ.L?

FUSD.L is cheaper with a 0.25% expense ratio, compared with 0.35% for JEPQ.L.

What is the main difference between FUSD.L and JEPQ.L?

FUSD.L is categorized as Large Cap Blend Equities, while JEPQ.L is Nasdaq-100. They also come from different issuers: Fidelity and JPMorgan. Their fees differ too: 0.25% for FUSD.L and 0.35% for JEPQ.L.