HDIV.TO vs. JEPQ

Last updated Jun 26, 2026

HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - HDIV.TO is a Derivative Income fund actively managed by Hamilton ETFs, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. HDIV.TO is actively managed, while JEPQ is passively managed. Over the past 3 years, HDIV.TO returned 28.92%/yr vs 23.41%/yr for JEPQ. A 0.56 correlation means they provide meaningful diversification when combined. HDIV.TO charges 0.00%/yr vs 0.35%/yr for JEPQ.

Performance

HDIV.TO vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HDIV.TO is traded in CAD, while JEPQ is traded in USD. To make them comparable, the JEPQ values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HDIV.TO achieves a 17.77% return, which is significantly higher than JEPQ's 12.61% return.

HDIV.TO

• 1D: 0.73%
• 1M: 1.04%
• YTD: 17.77%
• 6M: 16.89%
• 1Y: 45.31%
• 3Y*: 28.92%
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.92%
• 1M: 3.28%
• YTD: 12.61%
• 6M: 11.55%
• 1Y: 28.68%
• 3Y*: 23.41%
• 5Y*: —
• 10Y*: —

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

HDIV.TO vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	17.77%	33.87%	23.15%	13.91%	-5.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	12.61%	9.92%	35.42%	33.04%	-6.18%

Correlation

The correlation between HDIV.TO and JEPQ is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.56

The correlation between HDIV.TO and JEPQ has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

HDIV.TO vs. JEPQ - Sectors Allocation Comparison

Sectors	HDIV.TO	JEPQ
Financial Services	39.7%	0.3%
Energy	17.9%	0.3%
Basic Materials	12.3%	0.9%
Technology	11.3%	58.9%
Communication Services	6.2%	13.9%
Utilities	4.6%	1.1%
Industrials	3.0%	2.8%
Consumer Cyclical	2.6%	11.8%
Real Estate	2.0%	0.2%
Consumer Defensive	0.3%	6.0%
Healthcare	0.1%	3.9%

Return for Risk

HDIV.TO vs. JEPQ — Risk / Return Rank

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

HDIV.TO

HDIV.TO Risk / Return Rank: 94
HDIV.TO Sharpe Ratio Rank: 96
HDIV.TO Sortino Ratio Rank: 95
HDIV.TO Omega Ratio Rank: 95
HDIV.TO Calmar Ratio Rank: 92
HDIV.TO Martin Ratio Rank: 95

JEPQ

JEPQ Risk / Return Rank: 68
JEPQ Sharpe Ratio Rank: 66
JEPQ Sortino Ratio Rank: 61
JEPQ Omega Ratio Rank: 72
JEPQ Calmar Ratio Rank: 64
JEPQ Martin Ratio Rank: 78

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.

HDIV.TO vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) 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.

	HDIV.TO	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	3.49	2.14	+1.35
Sortino ratio: Return per unit of downside risk	4.43	2.92	+1.52
Omega ratio: Gain probability vs. loss probability	1.63	1.40	+0.23
Calmar ratio: Return relative to maximum drawdown	5.21	3.68	+1.53
Martin ratio: Return relative to average drawdown	24.88	14.63	+10.25

HDIV.TO vs. JEPQ - Sharpe Ratio Comparison

The current HDIV.TO Sharpe Ratio is 3.49, which is higher than the JEPQ Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of HDIV.TO 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

HDIV.TO vs. JEPQ - Drawdown Comparison

The maximum HDIV.TO drawdown since its inception was -22.32%, which is greater than JEPQ's maximum drawdown of -20.09%. Use the drawdown chart below to compare losses from any high point for HDIV.TO and JEPQ.

Drawdown Indicators

	HDIV.TO	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.32%	-20.09%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-7.82%	-0.91%
Max Drawdown (3Y) Largest decline over 3 years	-14.58%	-20.09%	+5.51%
Current Drawdown Current decline from peak	-1.22%	-1.62%	+0.40%
Average Drawdown Average peak-to-trough decline	-4.18%	-3.08%	-1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	1.97%	-0.14%

Volatility

HDIV.TO vs. JEPQ - Volatility Comparison

The current volatility for Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) is 4.43%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.58%. This indicates that HDIV.TO 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

	HDIV.TO	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	6.58%	-2.15%
Volatility (6M) Calculated over the trailing 6-month period	10.86%	10.97%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	13.44%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	17.74%	-2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.62%	17.74%	-2.12%

HDIV.TO vs. JEPQ - Expense Ratio Comparison

HDIV.TO has a 0.00% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

HDIV.TO vs. JEPQ - Dividend Comparison

HDIV.TO's dividend yield for the trailing twelve months is around 9.21%, less than JEPQ's 10.18% yield.

Position	TTM	2025	2024	2023	2022	2021
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.21%	10.09%	11.38%	10.41%	9.64%	3.37%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.18%	10.53%	9.65%	10.03%	9.44%	0.00%

Frequently Asked Questions

Can I hold both HDIV.TO and JEPQ in my portfolio?

HDIV.TO and JEPQ have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDIV.TO or JEPQ?

On fees, HDIV.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDIV.TO or JEPQ?

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.35% for JEPQ.

What is the main difference between HDIV.TO and JEPQ?

HDIV.TO is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: Hamilton ETFs and JPMorgan. Their fees differ too: 0.00% for HDIV.TO and 0.35% for JEPQ.