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HYG vs. JEPQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYG vs. JEPQ

Last updated Jun 9, 2026

HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, HYG returned 8.34%/yr vs 20.04%/yr for JEPQ. A 0.63 correlation means they provide meaningful diversification when combined. HYG charges 0.49%/yr vs 0.35%/yr for JEPQ.

Performance

HYG vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HYG achieves a 1.14% return, which is significantly lower than JEPQ's 7.44% return.

HYG

1D
0.14%
1M
-0.24%
YTD
1.14%
6M
1.72%
1Y
6.36%
3Y*
8.34%
5Y*
3.69%
10Y*
4.88%

JEPQ

1D
1.24%
1M
0.97%
YTD
7.44%
6M
7.26%
1Y
25.85%
3Y*
20.04%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYG vs. JEPQ - Yearly Performance Comparison

2026 (YTD)2025202420232022
HYG
iShares iBoxx $ High Yield Corporate Bond ETF		1.14%8.59%7.97%11.54%-3.00%
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		7.44%15.18%24.85%36.28%-11.16%

Correlation

The correlation between HYG and JEPQ is 0.66, 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

0.66

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (All Time)
Calculated using the full available price history since May 4, 2022

0.63

The correlation between HYG and JEPQ has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.

HYG vs. JEPQ - Sectors Allocation Comparison

Sectors
HYG
JEPQ

Utilities

99.6%
1.3%

Real Estate

0.4%
0.2%

Basic Materials

-

1.0%

Communication Services

-

15.4%

Consumer Cyclical

-

12.8%

Consumer Defensive

-

7.1%

Energy

-

0.4%

Financial Services

-

0.4%

Healthcare

-

4.4%

Industrials

-

3.1%

Technology

-

54.0%

Utilities

HYG
99.6%
JEPQ
1.3%

Real Estate

HYG
0.4%
JEPQ
0.2%

Basic Materials

HYG

-

JEPQ
1.0%

Communication Services

HYG

-

JEPQ
15.4%

Consumer Cyclical

HYG

-

JEPQ
12.8%

Consumer Defensive

HYG

-

JEPQ
7.1%

Energy

HYG

-

JEPQ
0.4%

Financial Services

HYG

-

JEPQ
0.4%

Healthcare

HYG

-

JEPQ
4.4%

Industrials

HYG

-

JEPQ
3.1%

Technology

HYG

-

JEPQ
54.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares iBoxx $ High Yield Corporate Bond ETF

JPMorgan Nasdaq Equity Premium Income ETF

Often compared with HYG:
HYG vs. LQDHYG vs. JNKHYG vs. SPHYHYG vs. AGGHYG vs. USHYHYG vs. HYGHHYG vs. SHYG
Often compared with JEPQ:
JEPQ vs. JEPIJEPQ vs. QQQIJEPQ vs. QQQJEPQ vs. SCHDJEPQ vs. QYLDJEPQ vs. GPIQJEPQ vs. SPYI

Return for Risk

HYG vs. JEPQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYG
HYG Risk / Return Rank: 6060
Overall Rank
HYG Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
HYG Sortino Ratio Rank: 5858
Sortino Ratio Rank
HYG Omega Ratio Rank: 5656
Omega Ratio Rank
HYG Calmar Ratio Rank: 6060
Calmar Ratio Rank
HYG Martin Ratio Rank: 7171
Martin Ratio Rank
JEPQ
JEPQ Risk / Return Rank: 7373
Overall Rank
JEPQ Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
JEPQ Sortino Ratio Rank: 6868
Sortino Ratio Rank
JEPQ Omega Ratio Rank: 7979
Omega Ratio Rank
JEPQ Calmar Ratio Rank: 6565
Calmar Ratio Rank
JEPQ Martin Ratio Rank: 8080
Martin Ratio Rank
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.

HYG vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) 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.

HYGJEPQDifference
Sharpe ratioReturn per unit of total volatility
1.67
2.13

-0.47

Sortino ratioReturn per unit of downside risk
2.49
2.79

-0.30

Omega ratioGain probability vs. loss probability

1.32

1.42

-0.11

Calmar ratioReturn relative to maximum drawdown

2.73

2.95

-0.21

Martin ratioReturn relative to average drawdown

12.02

14.33

-2.31

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYG vs. JEPQ - Sharpe Ratio Comparison

The current HYG Sharpe Ratio is 1.67, which is comparable to the JEPQ Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of HYG 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.

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Sharpe Ratios by Period

HYGJEPQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.67

2.13

-0.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.96

-0.51

Drawdowns

HYG vs. JEPQ - Drawdown Comparison

The maximum HYG drawdown since its inception was -34.25%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for HYG and JEPQ.

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Drawdown Indicators

HYGJEPQDifference

Max Drawdown

Largest peak-to-trough decline

-34.25%

-20.07%

-14.18%

Max Drawdown (1Y)

Largest decline over 1 year

-2.34%

-8.82%

+6.48%

Max Drawdown (3Y)

Largest decline over 3 years

-4.56%

-20.07%

+15.51%

Max Drawdown (5Y)

Largest decline over 5 years

-15.79%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-22.03%

—

—

Current Drawdown

Current decline from peak

-0.45%

-2.02%

+1.57%

Average Drawdown

Average peak-to-trough decline

-3.24%

-3.42%

+0.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.53%

1.81%

-1.28%

Volatility

HYG vs. JEPQ - Volatility Comparison

The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.23%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 3.65%. This indicates that HYG 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

HYGJEPQDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.23%

3.65%

-2.42%

Volatility (6M)

Calculated over the trailing 6-month period

3.05%

9.66%

-6.61%

Volatility (1Y)

Calculated over the trailing 1-year period

3.84%

12.19%

-8.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.53%

16.67%

-9.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.29%

16.67%

-8.38%

HYG vs. JEPQ - Expense Ratio Comparison

HYG has a 0.49% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

HYG vs. JEPQ - Dividend Comparison

HYG's dividend yield for the trailing twelve months is around 5.93%, less than JEPQ's 10.26% yield.

PositionTTM20252024202320222021202020192018201720162015
HYG
iShares iBoxx $ High Yield Corporate Bond ETF		5.93%5.71%6.01%5.74%5.30%4.02%4.88%4.99%5.54%5.12%5.27%5.90%
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		10.26%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

HYG and JEPQ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JEPQ has higher volatility (3.65%) compared to HYG (1.23%). In terms of maximum drawdown, HYG dropped -34.25% vs JEPQ's -20.07%.

On 3-year performance, JEPQ leads with 20.04% vs 8.34% for HYG. On fees, JEPQ is cheaper at 0.35% per year. On volatility, HYG has been the lower-risk option at 1.23%. 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 20.04% return vs 8.34%. 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 0.49% for HYG.

JEPQ has the higher dividend yield at 10.26%, compared with 5.93% for HYG.

HYG is categorized as High Yield Bonds, while JEPQ is Nasdaq-100. HYG tracks Markit iBoxx USD Liquid High Yield Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.49% for HYG and 0.35% for JEPQ.

JEPQ currently has the higher Sharpe Ratio (2.13 vs 1.67), 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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