GPIQ vs. JEPQ

Last updated Apr 4, 2026

Compare and contrast key facts about Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ).

GPIQ and JEPQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GPIQ is an actively managed fund by Goldman Sachs. It was launched on Oct 24, 2023. JEPQ is a passively managed fund by JPMorgan that tracks the performance of the Nasdaq-100 Index. It was launched on May 3, 2022.

Performance

GPIQ vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) 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, GPIQ achieves a -2.68% return, which is significantly lower than JEPQ's -1.76% return.

GPIQ

• 1D: 0.18%
• 1M: -2.97%
• YTD: -2.68%
• 6M: 0.36%
• 1Y: 37.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.13%
• 1M: -2.58%
• YTD: -1.76%
• 6M: 2.45%
• 1Y: 33.25%
• 3Y*: 19.59%
• 5Y*: —
• 10Y*: —

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

GPIQ vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	-2.68%	19.77%	23.22%	15.38%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	-1.76%	15.18%	24.85%	13.57%

Correlation

The correlation between GPIQ and JEPQ is 0.98 — these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk. Consider pairing with a less correlated asset class instead.

GPIQ vs. JEPQ - Expense Ratio Comparison

GPIQ has a 0.29% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

GPIQ

Goldman Sachs Nasdaq-100 Core Premium Income ETF

Return for Risk

GPIQ vs. JEPQ — Risk / Return Rank

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

GPIQ

GPIQ Risk / Return Rank: 65
GPIQ Sharpe Ratio Rank: 61
GPIQ Sortino Ratio Rank: 66
GPIQ Omega Ratio Rank: 68
GPIQ Calmar Ratio Rank: 62
GPIQ Martin Ratio Rank: 70

JEPQ

JEPQ Risk / Return Rank: 61
JEPQ Sharpe Ratio Rank: 56
JEPQ Sortino Ratio Rank: 60
JEPQ Omega Ratio Rank: 68
JEPQ Calmar Ratio Rank: 55
JEPQ Martin Ratio Rank: 67

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.

GPIQ vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) 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.

	GPIQ	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	1.14	1.07	+0.07
Sortino ratio Return per unit of downside risk	1.76	1.63	+0.13
Omega ratio Gain probability vs. loss probability	1.27	1.26	0.00
Calmar ratio Return relative to maximum drawdown	1.98	1.75	+0.23
Martin ratio Return relative to average drawdown	8.98	8.55	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPIQ vs. JEPQ - Sharpe Ratio Comparison

The current GPIQ Sharpe Ratio is 1.14, which is comparable to the JEPQ Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of GPIQ 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

	GPIQ	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.07	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	0.84	+0.47

Drawdowns

GPIQ vs. JEPQ - Drawdown Comparison

The maximum GPIQ drawdown since its inception was -21.06%, roughly equal to the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for GPIQ and JEPQ.

Drawdown Indicators

	GPIQ	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-20.07%	-0.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-8.82%	-0.69%
Current Drawdown Current decline from peak	-5.44%	-4.77%	-0.67%
Average Drawdown Average peak-to-trough decline	-2.38%	-3.55%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.38%	+0.28%

Volatility

GPIQ vs. JEPQ - Volatility Comparison

Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) have volatilities of 5.97% and 5.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIQ	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.97%	5.94%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	10.52%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	20.44%	18.53%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	16.90%	+0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.72%	16.90%	+0.82%

Dividends

GPIQ vs. JEPQ - Dividend Comparison

GPIQ's dividend yield for the trailing twelve months is around 10.73%, less than JEPQ's 11.12% yield.

	TTM	2025	2024	2023	2022
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	10.73%	9.81%	9.18%	1.74%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	11.12%	10.53%	9.65%	10.03%	9.44%