HIGH vs. JEPQ
HIGH (Simplify Enhanced Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - HIGH is a Derivative Income fund actively managed by Simplify, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. HIGH is actively managed, while JEPQ is passively managed. Over the past 3 years, HIGH returned 2.43%/yr vs 17.49%/yr for JEPQ. Their 0.46 correlation means their historical movements had little consistent relationship. HIGH charges 0.50%/yr vs 0.35%/yr for JEPQ.
Performance
HIGH vs. JEPQ - Performance Comparison
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Returns By Period
In the year-to-date period, HIGH achieves a -1.00% return, which is significantly lower than JEPQ's 6.05% return.
HIGH
- 1D
- 0.30%
- 1M
- -0.44%
- 6M
- -0.14%
- YTD
- -1.00%
- 1Y
- -1.25%
- 3Y*
- 2.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.43%
JEPQ
- 1D
- 0.57%
- 1M
- -1.92%
- 6M
- 3.71%
- YTD
- 6.05%
- 1Y
- 19.59%
- 3Y*
- 17.49%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $264.89K | $245.02K | $537.34K | |
| $439.89M | $417.31M | $422.49M |
HIGH vs. JEPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | -1.00% | 4.35% | 1.52% | 7.70% | 0.47% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 6.05% | 15.18% | 24.85% | 36.28% | 0.22% |
Correlation
The correlation between HIGH and JEPQ is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.46 |
Over the past year, HIGH and JEPQ have become more correlated (0.68) than their long-term average of 0.46, meaning their price movements have been converging.
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Return for Risk
HIGH vs. JEPQ — Risk / Return Rank
HIGH
JEPQ
HIGH vs. JEPQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Enhanced Income ETF (HIGH) 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.
| HIGH | JEPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.23 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.02 | -2.23 |
| Martin ratioReturn relative to average drawdown | -0.34 | 8.30 | -8.64 |
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Drawdowns
HIGH vs. JEPQ - Drawdown Comparison
The maximum HIGH drawdown since its inception was -9.50%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for HIGH and JEPQ.
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Drawdown Indicators
| HIGH | JEPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.50% | -20.07% | +10.57% |
Max Drawdown (1Y)Largest decline over 1 year | -7.08% | -8.82% | +1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -9.50% | -20.07% | +10.57% |
Current DrawdownCurrent decline from peak | -7.69% | -4.23% | -3.46% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -3.38% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 2.14% | +2.32% |
Volatility
HIGH vs. JEPQ - Volatility Comparison
The current volatility for Simplify Enhanced Income ETF (HIGH) is 2.16%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.09%. This indicates that HIGH 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.
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Volatility by Period
| HIGH | JEPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 6.09% | -3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 12.15% | -8.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.23% | 14.65% | -7.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.46% | 16.90% | -7.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.46% | 16.90% | -7.44% |
HIGH vs. JEPQ - Expense Ratio Comparison
HIGH has a 0.50% expense ratio, which is higher than JEPQ's 0.35% expense ratio.
Dividends
HIGH vs. JEPQ - Dividend Comparison
HIGH's dividend yield for the trailing twelve months is around 6.88%, less than JEPQ's 10.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 6.88% | 7.71% | 8.34% | 9.40% | 0.62% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 9.99% | 10.53% | 9.65% | 10.03% | 9.44% |
Frequently Asked Questions
HIGH and JEPQ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPQ has higher volatility (6.09%) compared to HIGH (2.16%). In terms of maximum drawdown, HIGH dropped -9.50% vs JEPQ's -20.07%.
On 3-year performance, JEPQ leads with 17.49% vs 2.43% for HIGH. On fees, JEPQ is cheaper at 0.35% per year. On volatility, HIGH has been the lower-risk option at 2.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JEPQ has performed better with a 17.49% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JEPQ is cheaper with a 0.35% expense ratio, compared with 0.50% for HIGH.
JEPQ has the higher dividend yield at 9.99%, compared with 6.88% for HIGH.
HIGH is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: Simplify and JPMorgan. Their fees differ too: 0.50% for HIGH and 0.35% for JEPQ.
JEPQ currently has the higher Sharpe Ratio (1.22 vs -0.21), 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.
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