GNOV vs. JEPQ

Last updated Jun 23, 2026

GNOV (FT Cboe Vest U.S. Equity Moderate Buffer ETF - November) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - GNOV is a Options Trading fund actively managed by FT Vest, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. GNOV is actively managed, while JEPQ is passively managed. Over the past year, GNOV returned 16.96% vs 29.42% for JEPQ. Their correlation of 0.86 suggests significant overlap in exposure. GNOV charges 0.85%/yr vs 0.35%/yr for JEPQ.

Performance

GNOV vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) 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, GNOV achieves a 5.00% return, which is significantly lower than JEPQ's 10.59% return.

GNOV

• 1D: -0.06%
• 1M: 0.46%
• YTD: 5.00%
• 6M: 4.92%
• 1Y: 16.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

GNOV vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GNOV FT Cboe Vest U.S. Equity Moderate Buffer ETF - November	5.00%	13.55%	10.35%	3.19%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	15.18%	24.85%	3.65%

Correlation

The correlation between GNOV and JEPQ is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.86

The correlation between GNOV and JEPQ has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

GNOV vs. JEPQ — Risk / Return Rank

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

GNOV

GNOV Risk / Return Rank: 89
GNOV Sharpe Ratio Rank: 90
GNOV Sortino Ratio Rank: 93
GNOV Omega Ratio Rank: 93
GNOV Calmar Ratio Rank: 76
GNOV Martin Ratio Rank: 91

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.

GNOV vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) 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.

	GNOV	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.94	2.30	+0.63
Sortino ratio: Return per unit of downside risk	4.43	3.05	+1.37
Omega ratio: Gain probability vs. loss probability	1.62	1.46	+0.16
Calmar ratio: Return relative to maximum drawdown	3.73	3.35	+0.38
Martin ratio: Return relative to average drawdown	20.77	15.94	+4.83

GNOV vs. JEPQ - Sharpe Ratio Comparison

The current GNOV Sharpe Ratio is 2.94, which is comparable to the JEPQ Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of GNOV 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

GNOV vs. JEPQ - Drawdown Comparison

The maximum GNOV drawdown since its inception was -10.70%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for GNOV and JEPQ.

Drawdown Indicators

	GNOV	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-10.70%	-20.07%	+9.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.56%	-8.82%	+4.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-0.70%	-3.40%	+2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	1.85%	-1.03%

Volatility

GNOV vs. JEPQ - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Moderate Buffer ETF - November (GNOV) is 1.49%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.68%. This indicates that GNOV 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

	GNOV	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	5.68%	-4.19%
Volatility (6M) Calculated over the trailing 6-month period	4.76%	10.33%	-5.57%
Volatility (1Y) Calculated over the trailing 1-year period	5.81%	12.85%	-7.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.60%	16.75%	-9.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.60%	16.75%	-9.15%

GNOV vs. JEPQ - Expense Ratio Comparison

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

Dividends

GNOV vs. JEPQ - Dividend Comparison

GNOV has not paid dividends to shareholders, while JEPQ's dividend yield for the trailing twelve months is around 9.97%.

Position	TTM	2025	2024	2023	2022
GNOV FT Cboe Vest U.S. Equity Moderate Buffer ETF - November	0.00%	0.00%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.97%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both GNOV and JEPQ in my portfolio?

GNOV and JEPQ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GNOV or JEPQ?

JEPQ has higher volatility (5.68%) compared to GNOV (1.49%). In terms of maximum drawdown, GNOV dropped -10.70% vs JEPQ's -20.07%.

Which ETF is better, GNOV or JEPQ?

On 1-year performance, JEPQ leads with 29.42% vs 16.96% for GNOV. On fees, JEPQ is cheaper at 0.35% per year. On volatility, GNOV has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GNOV or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.42% return vs 16.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GNOV or JEPQ?

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

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

JEPQ has the higher dividend yield at 9.97%, compared with 0.00% for GNOV.

What is the main difference between GNOV and JEPQ?

GNOV is categorized as Options Trading, while JEPQ is Nasdaq-100. They also come from different issuers: FT Vest and JPMorgan. Their fees differ too: 0.85% for GNOV and 0.35% for JEPQ.

Which has better risk-adjusted returns?

GNOV currently has the higher Sharpe Ratio (2.94 vs 2.30), 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.