IEMG vs. JEPQ

Last updated Jul 26, 2026

IEMG (iShares Core MSCI Emerging Markets ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - IEMG is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, IEMG returned 17.89%/yr vs 17.64%/yr for JEPQ. Their 0.66 correlation means they have sometimes moved together and sometimes differently. IEMG charges 0.09%/yr vs 0.35%/yr for JEPQ.

Performance

IEMG vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Emerging Markets ETF (IEMG) 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, IEMG achieves a 15.55% return, which is significantly higher than JEPQ's 5.52% return.

IEMG

• 1D: -1.78%
• 1M: -6.23%
• 6M: 7.28%
• YTD: 15.55%
• 1Y: 28.48%
• 3Y*: 17.89%
• 5Y*: 6.77%
• 10Y*: 8.78%
• ALL TIME*: 6.06%

JEPQ

• 1D: -0.97%
• 1M: -2.60%
• 6M: 3.56%
• YTD: 5.52%
• 1Y: 17.19%
• 3Y*: 17.64%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IEMG iShares Core MSCI Emerging Markets ETF	$959.90M	$1.12B	$1.07B
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	$411.15M	$392.07M	$419.06M

IEMG vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IEMG iShares Core MSCI Emerging Markets ETF	15.55%	32.56%	6.50%	11.52%	-8.81%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	5.52%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between IEMG and JEPQ is 0.79, 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.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.66

The correlation between IEMG and JEPQ shifts across timeframes, from 0.66 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

IEMG vs. JEPQ - Sectors Allocation Comparison

Sectors	IEMG	JEPQ
Technology	43.6%	60.6%
Financial Services	17.3%	0.3%
Consumer Cyclical	7.7%	11.1%
Industrials	7.7%	3.0%
Basic Materials	5.8%	0.9%
Communication Services	5.6%	12.8%
Healthcare	3.2%	4.0%
Energy	3.0%	0.3%
Consumer Defensive	2.8%	5.8%
Utilities	1.9%	1.0%
Real Estate	1.5%	0.2%

Return for Risk

IEMG vs. JEPQ — Risk / Return Rank

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

IEMG

IEMG Risk / Return Rank: 54
IEMG Sharpe Ratio Rank: 50
IEMG Sortino Ratio Rank: 47
IEMG Omega Ratio Rank: 54
IEMG Calmar Ratio Rank: 61
IEMG Martin Ratio Rank: 57

JEPQ

JEPQ Risk / Return Rank: 56
JEPQ Sharpe Ratio Rank: 51
JEPQ Sortino Ratio Rank: 48
JEPQ Omega Ratio Rank: 53
JEPQ Calmar Ratio Rank: 57
JEPQ Martin Ratio Rank: 70

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.

IEMG vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) 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.

	IEMG	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.23	-0.02
Sortino ratio: Return per unit of downside risk	1.69	1.72	-0.03
Omega ratio: Gain probability vs. loss probability	1.24	1.23	0.00
Calmar ratio: Return relative to maximum drawdown	2.13	1.97	+0.16
Martin ratio: Return relative to average drawdown	6.72	8.72	-2.01

IEMG vs. JEPQ - Sharpe Ratio Comparison

The current IEMG Sharpe Ratio is 1.21, which is comparable to the JEPQ Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of IEMG 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

IEMG vs. JEPQ - Drawdown Comparison

The maximum IEMG drawdown since its inception was -38.71%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for IEMG and JEPQ.

Drawdown Indicators

	IEMG	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-38.71%	-20.07%	-18.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.21%	-8.82%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	-17.21%	-20.07%	+2.86%
Max Drawdown (5Y) Largest decline over 5 years	-33.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.71%	—	—
Current Drawdown Current decline from peak	-10.41%	-4.71%	-5.70%
Average Drawdown Average peak-to-trough decline	-12.90%	-3.37%	-9.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	1.99%	+2.20%

Volatility

IEMG vs. JEPQ - Volatility Comparison

iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 7.86% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 5.63%. This indicates that IEMG'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

	IEMG	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.86%	5.63%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	21.27%	11.56%	+9.71%
Volatility (1Y) Calculated over the trailing 1-year period	23.23%	14.13%	+9.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	16.84%	+2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.26%	16.84%	+3.42%

IEMG vs. JEPQ - Expense Ratio Comparison

IEMG has a 0.09% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

IEMG vs. JEPQ - Dividend Comparison

IEMG's dividend yield for the trailing twelve months is around 2.33%, less than JEPQ's 10.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEMG iShares Core MSCI Emerging Markets ETF	2.33%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.80%	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 IEMG and JEPQ in my portfolio?

IEMG and JEPQ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEMG or JEPQ?

IEMG has higher volatility (7.86%) compared to JEPQ (5.63%). In terms of maximum drawdown, IEMG dropped -38.71% vs JEPQ's -20.07%.

Which ETF is better, IEMG or JEPQ?

On 3-year performance, IEMG leads with 17.89% vs 17.64% for JEPQ. On fees, IEMG is cheaper at 0.09% per year. On volatility, JEPQ has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEMG or JEPQ?

Over the 3-year period, IEMG has performed better with a 17.89% return vs 17.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEMG or JEPQ?

IEMG is cheaper with a 0.09% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.80%, compared with 2.33% for IEMG.

What is the main difference between IEMG and JEPQ?

IEMG is categorized as Emerging Markets Equities, while JEPQ is Nasdaq-100. IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net), while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.09% for IEMG and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.23 vs 1.21), 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.