INCM vs. JEPQ

Last updated Jun 3, 2026

INCM (Franklin Income Focus ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - INCM is a Diversified Portfolio fund actively managed by Franklin Templeton, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. INCM is actively managed, while JEPQ is passively managed. Over the past year, INCM returned 16.64% vs 29.60% for JEPQ. At a 0.49 correlation, their price movements are largely independent. INCM charges 0.38%/yr vs 0.35%/yr for JEPQ.

Performance

INCM vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Income Focus ETF (INCM) 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, INCM achieves a 6.96% return, which is significantly lower than JEPQ's 9.65% return.

INCM

• 1D: 0.00%
• 1M: 0.53%
• YTD: 6.96%
• 6M: 7.85%
• 1Y: 16.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.26%
• 1M: 4.36%
• YTD: 9.65%
• 6M: 10.05%
• 1Y: 29.60%
• 3Y*: 20.96%
• 5Y*: —
• 10Y*: —

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

INCM vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
INCM Franklin Income Focus ETF	6.96%	13.07%	6.80%	5.76%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.65%	15.18%	24.85%	12.16%

Correlation

The correlation between INCM and JEPQ is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 9, 2023	0.49

INCM vs. JEPQ - Sectors Allocation Comparison

Sectors	INCM	JEPQ
Financial Services	8.2%	0.4%
Consumer Defensive	6.7%	7.1%
Utilities	4.9%	1.3%
Energy	3.8%	0.4%
Healthcare	2.6%	4.4%
Technology	2.4%	54.0%
Industrials	1.9%	3.1%
Basic Materials	1.9%	1.0%
Communication Services	1.7%	15.4%
Consumer Cyclical	1.5%	12.8%
Real Estate	0.0%	0.2%

Return for Risk

INCM vs. JEPQ — Risk / Return Rank

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

INCM

INCM Risk / Return Rank: 91
INCM Sharpe Ratio Rank: 91
INCM Sortino Ratio Rank: 93
INCM Omega Ratio Rank: 92
INCM Calmar Ratio Rank: 88
INCM Martin Ratio Rank: 91

JEPQ

JEPQ Risk / Return Rank: 77
JEPQ Sharpe Ratio Rank: 77
JEPQ Sortino Ratio Rank: 73
JEPQ Omega Ratio Rank: 82
JEPQ Calmar Ratio Rank: 68
JEPQ Martin Ratio Rank: 83

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.

INCM vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Income Focus ETF (INCM) 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.

	INCM	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	3.20	2.54	+0.66
Sortino ratio Return per unit of downside risk	4.78	3.35	+1.43
Omega ratio Gain probability vs. loss probability	1.62	1.50	+0.11
Calmar ratio Return relative to maximum drawdown	5.27	3.42	+1.85
Martin ratio Return relative to average drawdown	22.29	16.82	+5.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INCM vs. JEPQ - Sharpe Ratio Comparison

The current INCM Sharpe Ratio is 3.20, which is comparable to the JEPQ Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of INCM 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.

Sharpe Ratios by Period

	INCM	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.20	2.54	+0.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	1.01	+0.53

Drawdowns

INCM vs. JEPQ - Drawdown Comparison

The maximum INCM drawdown since its inception was -7.84%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for INCM and JEPQ.

Drawdown Indicators

	INCM	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-7.84%	-20.07%	+12.23%
Max Drawdown (1Y) Largest decline over 1 year	-3.19%	-8.82%	+5.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-1.09%	-3.42%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	1.79%	-1.04%

Volatility

INCM vs. JEPQ - Volatility Comparison

Franklin Income Focus ETF (INCM) has a higher volatility of 1.72% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.25%. This indicates that INCM'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

	INCM	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	1.25%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	9.07%	-5.26%
Volatility (1Y) Calculated over the trailing 1-year period	5.22%	11.73%	-6.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.23%	16.62%	-9.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.23%	16.62%	-9.39%

INCM vs. JEPQ - Expense Ratio Comparison

INCM has a 0.38% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

INCM vs. JEPQ - Dividend Comparison

INCM's dividend yield for the trailing twelve months is around 5.06%, less than JEPQ's 10.06% yield.

Position	TTM	2025	2024	2023	2022
INCM Franklin Income Focus ETF	5.06%	4.96%	5.06%	3.01%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.06%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both INCM and JEPQ in my portfolio?

INCM and JEPQ have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INCM or JEPQ?

INCM has higher volatility (1.72%) compared to JEPQ (1.25%). In terms of maximum drawdown, INCM dropped -7.84% vs JEPQ's -20.07%.

Which ETF is better, INCM or JEPQ?

On 1-year performance, JEPQ leads with 29.60% vs 16.64% for INCM. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INCM or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.60% return vs 16.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INCM or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.38% for INCM.

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

JEPQ has the higher dividend yield at 10.06%, compared with 5.06% for INCM.

What is the main difference between INCM and JEPQ?

INCM is categorized as Diversified Portfolio, while JEPQ is Nasdaq-100. They also come from different issuers: Franklin Templeton and JPMorgan. Their fees differ too: 0.38% for INCM and 0.35% for JEPQ.

Which has better risk-adjusted returns?

INCM currently has the higher Sharpe Ratio (3.20 vs 2.54), 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.