IH2O.L vs. JEPQ

Last updated Jun 14, 2026

IH2O.L (iShares Global Water UCITS ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - IH2O.L is a Water Equities fund tracking the S&P Global Water TR, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, IH2O.L returned 5.78%/yr vs 17.49%/yr for JEPQ. At a 0.26 correlation, their price movements are largely independent. IH2O.L charges 0.65%/yr vs 0.35%/yr for JEPQ.

Performance

IH2O.L vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Global Water UCITS ETF (IH2O.L) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IH2O.L is traded in GBp, while JEPQ is traded in USD. To make them comparable, the JEPQ values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IH2O.L achieves a -1.27% return, which is significantly lower than JEPQ's 8.40% return.

IH2O.L

• 1D: 1.15%
• 1M: 0.53%
• YTD: -1.27%
• 6M: -1.32%
• 1Y: 4.55%
• 3Y*: 5.78%
• 5Y*: 5.22%
• 10Y*: 10.09%

JEPQ

• 1D: 0.71%
• 1M: 0.47%
• YTD: 8.40%
• 6M: 8.53%
• 1Y: 28.18%
• 3Y*: 17.49%
• 5Y*: —
• 10Y*: —

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

IH2O.L vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IH2O.L iShares Global Water UCITS ETF	-1.27%	9.75%	6.03%	7.33%	2.70%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	8.40%	6.97%	27.03%	29.47%	-7.22%

Correlation

The correlation between IH2O.L and JEPQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.26

IH2O.L vs. JEPQ - Sectors Allocation Comparison

Sectors	IH2O.L	JEPQ
Utilities	45.5%	1.1%
Industrials	44.7%	2.8%
Basic Materials	6.0%	0.9%
Energy	1.8%	0.3%
Technology	1.3%	58.9%
Consumer Cyclical	0.5%	11.8%
Real Estate	0.2%	0.2%
Communication Services	-	13.9%
Consumer Defensive	-	6.0%
Financial Services	-	0.3%
Healthcare	-	3.9%

Return for Risk

IH2O.L vs. JEPQ — Risk / Return Rank

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

IH2O.L

IH2O.L Risk / Return Rank: 14
IH2O.L Sharpe Ratio Rank: 15
IH2O.L Sortino Ratio Rank: 13
IH2O.L Omega Ratio Rank: 14
IH2O.L Calmar Ratio Rank: 14
IH2O.L Martin Ratio Rank: 15

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

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.

IH2O.L vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Water UCITS ETF (IH2O.L) 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.

	IH2O.L	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	0.33	2.25	-1.92
Sortino ratio: Return per unit of downside risk	0.52	2.89	-2.37
Omega ratio: Gain probability vs. loss probability	1.06	1.43	-0.37
Calmar ratio: Return relative to maximum drawdown	0.38	4.58	-4.19
Martin ratio: Return relative to average drawdown	0.97	17.89	-16.91

IH2O.L vs. JEPQ - Sharpe Ratio Comparison

The current IH2O.L Sharpe Ratio is 0.33, which is lower than the JEPQ Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of IH2O.L 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

IH2O.L vs. JEPQ - Drawdown Comparison

The maximum IH2O.L drawdown since its inception was -67.32%, which is greater than JEPQ's maximum drawdown of -22.33%. Use the drawdown chart below to compare losses from any high point for IH2O.L and JEPQ.

Drawdown Indicators

	IH2O.L	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-67.32%	-22.33%	-44.99%
Max Drawdown (1Y) Largest decline over 1 year	-10.50%	-6.04%	-4.46%
Max Drawdown (3Y) Largest decline over 3 years	-13.96%	-22.33%	+8.37%
Max Drawdown (5Y) Largest decline over 5 years	-23.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-27.16%	—	—
Current Drawdown Current decline from peak	-8.77%	-1.44%	-7.33%
Average Drawdown Average peak-to-trough decline	-20.55%	-4.06%	-16.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	1.54%	+2.61%

Volatility

IH2O.L vs. JEPQ - Volatility Comparison

The current volatility for iShares Global Water UCITS ETF (IH2O.L) is 3.90%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 4.66%. This indicates that IH2O.L 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

	IH2O.L	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	4.66%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	9.30%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	12.31%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	16.03%	-2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	16.03%	-1.10%

IH2O.L vs. JEPQ - Expense Ratio Comparison

IH2O.L has a 0.65% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

IH2O.L vs. JEPQ - Dividend Comparison

IH2O.L's dividend yield for the trailing twelve months is around 1.43%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IH2O.L iShares Global Water UCITS ETF	1.43%	1.35%	1.05%	1.21%	1.11%	1.67%	1.00%	1.43%	1.77%	1.52%	1.62%	1.61%
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 IH2O.L and JEPQ in my portfolio?

IH2O.L and JEPQ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IH2O.L or JEPQ?

On fees, JEPQ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IH2O.L or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.65% for IH2O.L.

What is the main difference between IH2O.L and JEPQ?

IH2O.L is categorized as Water Equities, while JEPQ is Nasdaq-100. IH2O.L tracks S&P Global Water TR, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.65% for IH2O.L and 0.35% for JEPQ.