GSPY vs. JEPQ

Last updated Jun 4, 2026

GSPY (Gotham Enhanced 500 ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - GSPY is a Large Cap Blend Equities fund actively managed by Gotham, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. GSPY is actively managed, while JEPQ is passively managed. Over the past 3 years, GSPY returned 22.28%/yr vs 20.92%/yr for JEPQ. Their correlation of 0.91 suggests significant overlap in exposure. GSPY charges 0.50%/yr vs 0.35%/yr for JEPQ.

Performance

GSPY vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Enhanced 500 ETF (GSPY) 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, GSPY achieves a 11.17% return, which is significantly higher than JEPQ's 9.54% return.

GSPY

• 1D: -0.61%
• 1M: 5.33%
• YTD: 11.17%
• 6M: 11.90%
• 1Y: 29.37%
• 3Y*: 22.28%
• 5Y*: 13.71%
• 10Y*: —

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)

GSPY vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GSPY Gotham Enhanced 500 ETF	11.17%	18.28%	23.58%	26.01%	-9.97%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	15.18%	24.85%	36.28%	-12.89%

Correlation

The correlation between GSPY 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	0.91

The correlation between GSPY and JEPQ has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

GSPY vs. JEPQ - Sectors Allocation Comparison

Sectors	GSPY	JEPQ
Technology	36.0%	54.0%
Financial Services	11.7%	0.4%
Communication Services	10.5%	15.4%
Consumer Cyclical	10.3%	12.8%
Healthcare	9.6%	4.4%
Industrials	8.6%	3.1%
Consumer Defensive	6.0%	7.1%
Energy	3.2%	0.4%
Real Estate	2.2%	0.2%
Basic Materials	1.3%	1.0%
Utilities	0.8%	1.3%

Return for Risk

GSPY vs. JEPQ — Risk / Return Rank

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

GSPY

GSPY Risk / Return Rank: 72
GSPY Sharpe Ratio Rank: 72
GSPY Sortino Ratio Rank: 68
GSPY Omega Ratio Rank: 72
GSPY Calmar Ratio Rank: 69
GSPY Martin Ratio Rank: 79

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.

GSPY vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Enhanced 500 ETF (GSPY) 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.

	GSPY	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.49	-0.10
Sortino ratio: Return per unit of downside risk	3.14	3.29	-0.15
Omega ratio: Gain probability vs. loss probability	1.44	1.49	-0.06
Calmar ratio: Return relative to maximum drawdown	3.42	3.31	+0.12
Martin ratio: Return relative to average drawdown	15.45	16.22	-0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSPY vs. JEPQ - Sharpe Ratio Comparison

The current GSPY Sharpe Ratio is 2.38, which is comparable to the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of GSPY 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

	GSPY	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	2.49	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	1.00	-0.05

Drawdowns

GSPY vs. JEPQ - Drawdown Comparison

The maximum GSPY drawdown since its inception was -23.30%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for GSPY and JEPQ.

Drawdown Indicators

	GSPY	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.30%	-20.07%	-3.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-8.82%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-18.67%	-20.07%	+1.40%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	—	—
Current Drawdown Current decline from peak	-0.67%	-0.10%	-0.57%
Average Drawdown Average peak-to-trough decline	-4.76%	-3.42%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.79%	+0.12%

Volatility

GSPY vs. JEPQ - Volatility Comparison

Gotham Enhanced 500 ETF (GSPY) has a higher volatility of 2.81% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.26%. This indicates that GSPY'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

	GSPY	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	1.26%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	9.07%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.39%	11.73%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.55%	16.61%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.32%	16.61%	-0.29%

GSPY vs. JEPQ - Expense Ratio Comparison

GSPY has a 0.50% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

GSPY vs. JEPQ - Dividend Comparison

GSPY's dividend yield for the trailing twelve months is around 2.35%, less than JEPQ's 10.07% yield.

Position	TTM	2025	2024	2023	2022	2021
GSPY Gotham Enhanced 500 ETF	2.35%	2.61%	0.84%	1.06%	1.25%	0.23%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%	0.00%

Frequently Asked Questions

Can I hold both GSPY and JEPQ in my portfolio?

GSPY and JEPQ have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSPY or JEPQ?

GSPY has higher volatility (2.81%) compared to JEPQ (1.26%). In terms of maximum drawdown, GSPY dropped -23.30% vs JEPQ's -20.07%.

Which ETF is better, GSPY or JEPQ?

On 3-year performance, GSPY leads with 22.28% vs 20.92% for JEPQ. 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, GSPY or JEPQ?

Over the 3-year period, GSPY has performed better with a 22.28% return vs 20.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSPY or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.50% for GSPY.

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

JEPQ has the higher dividend yield at 10.07%, compared with 2.35% for GSPY.

What is the main difference between GSPY and JEPQ?

GSPY is categorized as Large Cap Blend Equities, while JEPQ is Nasdaq-100. They also come from different issuers: Gotham and JPMorgan. Their fees differ too: 0.50% for GSPY and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.49 vs 2.38), 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.