HDIVX vs. JEPQ

Last updated Jun 24, 2026

HDIVX (Janus Henderson Dividend & Income Builder Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - HDIVX is a Foreign Large Cap Equities fund managed by Janus Henderson, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, HDIVX returned 20.83%/yr vs 19.79%/yr for JEPQ. A 0.67 correlation means they provide meaningful diversification when combined. HDIVX charges 0.95%/yr vs 0.35%/yr for JEPQ.

Performance

HDIVX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Dividend & Income Builder Fund (HDIVX) 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, HDIVX achieves a 17.11% return, which is significantly higher than JEPQ's 7.85% return.

HDIVX

• 1D: 0.14%
• 1M: 4.72%
• YTD: 17.11%
• 6M: 17.11%
• 1Y: 29.13%
• 3Y*: 20.83%
• 5Y*: 12.95%
• 10Y*: 10.95%

JEPQ

• 1D: -2.48%
• 1M: 0.34%
• YTD: 7.85%
• 6M: 7.02%
• 1Y: 25.10%
• 3Y*: 19.79%
• 5Y*: —
• 10Y*: —

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

HDIVX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HDIVX Janus Henderson Dividend & Income Builder Fund	17.11%	29.24%	8.84%	18.06%	-0.64%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between HDIVX and JEPQ is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.67

The correlation between HDIVX and JEPQ has been stable across timeframes, ranging from 0.63 to 0.67 - a consistent structural relationship.

Return for Risk

HDIVX vs. JEPQ — Risk / Return Rank

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

HDIVX

HDIVX Risk / Return Rank: 56
HDIVX Sharpe Ratio Rank: 62
HDIVX Sortino Ratio Rank: 53
HDIVX Omega Ratio Rank: 63
HDIVX Calmar Ratio Rank: 54
HDIVX Martin Ratio Rank: 50

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 66
JEPQ Calmar Ratio Rank: 60
JEPQ Martin Ratio Rank: 74

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.

HDIVX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Dividend & Income Builder Fund (HDIVX) 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.

	HDIVX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.93	+0.20
Sortino ratio: Return per unit of downside risk	2.82	2.57	+0.25
Omega ratio: Gain probability vs. loss probability	1.40	1.38	+0.02
Calmar ratio: Return relative to maximum drawdown	2.68	2.86	-0.18
Martin ratio: Return relative to average drawdown	9.66	13.55	-3.90

HDIVX vs. JEPQ - Sharpe Ratio Comparison

The current HDIVX Sharpe Ratio is 2.14, which is comparable to the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of HDIVX 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

HDIVX vs. JEPQ - Drawdown Comparison

The maximum HDIVX drawdown since its inception was -28.56%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for HDIVX and JEPQ.

Drawdown Indicators

	HDIVX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-28.56%	-20.07%	-8.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-8.82%	-2.47%
Max Drawdown (3Y) Largest decline over 3 years	-13.08%	-20.07%	+6.99%
Max Drawdown (5Y) Largest decline over 5 years	-23.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.56%	—	—
Current Drawdown Current decline from peak	0.00%	-2.48%	+2.48%
Average Drawdown Average peak-to-trough decline	-3.77%	-3.40%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	1.86%	+1.27%

Volatility

HDIVX vs. JEPQ - Volatility Comparison

The current volatility for Janus Henderson Dividend & Income Builder Fund (HDIVX) is 5.56%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.27%. This indicates that HDIVX 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

	HDIVX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	6.27%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	10.58%	+1.52%
Volatility (1Y) Calculated over the trailing 1-year period	14.21%	13.08%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.83%	16.79%	-2.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.58%	16.79%	-3.21%

HDIVX vs. JEPQ - Expense Ratio Comparison

HDIVX has a 0.95% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

HDIVX vs. JEPQ - Dividend Comparison

HDIVX's dividend yield for the trailing twelve months is around 6.54%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDIVX Janus Henderson Dividend & Income Builder Fund	6.54%	7.60%	6.54%	3.11%	4.14%	4.59%	3.26%	3.20%	4.19%	2.76%	3.12%	3.02%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HDIVX and JEPQ in my portfolio?

HDIVX and JEPQ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDIVX or JEPQ?

JEPQ has higher volatility (6.27%) compared to HDIVX (5.56%). In terms of maximum drawdown, HDIVX dropped -28.56% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

HDIVX currently has the higher Sharpe Ratio (2.14 vs 1.93), 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.