IQQQ vs. JEPI

Last updated Jun 9, 2026

IQQQ (ProShares Nasdaq-100 High Income ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index, while JEPI is a Dividend fund actively managed by JPMorgan. IQQQ is passively managed, while JEPI is actively managed. Over the past year, IQQQ returned 32.80% vs 7.03% for JEPI. A 0.54 correlation means they provide meaningful diversification when combined. IQQQ charges 0.55%/yr vs 0.35%/yr for JEPI.

Performance

IQQQ vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 High Income ETF (IQQQ) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IQQQ achieves a 14.23% return, which is significantly higher than JEPI's 0.04% return.

IQQQ

• 1D: 1.38%
• 1M: 0.79%
• YTD: 14.23%
• 6M: 12.90%
• 1Y: 32.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPI

• 1D: -0.31%
• 1M: -0.40%
• YTD: 0.04%
• 6M: 0.91%
• 1Y: 7.03%
• 3Y*: 8.80%
• 5Y*: 7.28%
• 10Y*: —

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

IQQQ vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	14.23%	17.11%	14.82%
JEPI JPMorgan Equity Premium Income ETF	0.04%	8.09%	6.68%

Correlation

The correlation between IQQQ and JEPI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.54

The correlation between IQQQ and JEPI shifts across timeframes, from 0.42 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

IQQQ vs. JEPI - Sectors Allocation Comparison

Sectors	IQQQ	JEPI
Technology	53.8%	19.1%
Communication Services	15.8%	6.9%
Consumer Cyclical	12.3%	11.7%
Consumer Defensive	7.7%	9.6%
Healthcare	4.2%	14.1%
Industrials	2.8%	13.8%
Utilities	1.4%	6.2%
Basic Materials	1.1%	1.9%
Energy	0.6%	3.5%
Financial Services	0.2%	9.8%
Real Estate	0.1%	3.5%

Return for Risk

IQQQ vs. JEPI — Risk / Return Rank

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

IQQQ

IQQQ Risk / Return Rank: 65
IQQQ Sharpe Ratio Rank: 69
IQQQ Sortino Ratio Rank: 63
IQQQ Omega Ratio Rank: 65
IQQQ Calmar Ratio Rank: 65
IQQQ Martin Ratio Rank: 63

JEPI

JEPI Risk / Return Rank: 26
JEPI Sharpe Ratio Rank: 27
JEPI Sortino Ratio Rank: 27
JEPI Omega Ratio Rank: 27
JEPI Calmar Ratio Rank: 24
JEPI Martin Ratio Rank: 26

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.

IQQQ vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 High Income ETF (IQQQ) and JPMorgan Equity Premium Income ETF (JEPI). 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.

	IQQQ	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.04	0.90	+1.14
Sortino ratio: Return per unit of downside risk	2.61	1.35	+1.26
Omega ratio: Gain probability vs. loss probability	1.35	1.17	+0.19
Calmar ratio: Return relative to maximum drawdown	2.96	1.06	+1.91
Martin ratio: Return relative to average drawdown	10.42	3.31	+7.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IQQQ vs. JEPI - Sharpe Ratio Comparison

The current IQQQ Sharpe Ratio is 2.04, which is higher than the JEPI Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of IQQQ and JEPI, 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

	IQQQ	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	0.90	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	1.01	+0.10

Drawdowns

IQQQ vs. JEPI - Drawdown Comparison

The maximum IQQQ drawdown since its inception was -20.41%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for IQQQ and JEPI.

Drawdown Indicators

	IQQQ	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-20.41%	-13.71%	-6.70%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-6.68%	-4.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	-4.08%	-4.93%	+0.85%
Average Drawdown Average peak-to-trough decline	-3.64%	-2.12%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	2.13%	+1.03%

Volatility

IQQQ vs. JEPI - Volatility Comparison

ProShares Nasdaq-100 High Income ETF (IQQQ) has a higher volatility of 6.44% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.48%. This indicates that IQQQ's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQQ	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.44%	1.48%	+4.96%
Volatility (6M) Calculated over the trailing 6-month period	12.61%	6.09%	+6.52%
Volatility (1Y) Calculated over the trailing 1-year period	16.18%	7.89%	+8.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.82%	11.06%	+7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.82%	10.79%	+8.03%

IQQQ vs. JEPI - Expense Ratio Comparison

IQQQ has a 0.55% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

IQQQ vs. JEPI - Dividend Comparison

IQQQ's dividend yield for the trailing twelve months is around 4.59%, less than JEPI's 8.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IQQQ ProShares Nasdaq-100 High Income ETF	4.59%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%
JEPI JPMorgan Equity Premium Income ETF	8.28%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%

Frequently Asked Questions

Can I hold both IQQQ and JEPI in my portfolio?

IQQQ and JEPI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IQQQ or JEPI?

IQQQ has higher volatility (6.44%) compared to JEPI (1.48%). In terms of maximum drawdown, IQQQ dropped -20.41% vs JEPI's -13.71%.

Which ETF is better, IQQQ or JEPI?

On 1-year performance, IQQQ leads with 32.80% vs 7.03% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQQQ or JEPI?

Over the 1-year period, IQQQ has performed better with a 32.80% return vs 7.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQQQ or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.55% for IQQQ.

Which ETF pays a higher dividend yield, IQQQ or JEPI?

JEPI has the higher dividend yield at 8.28%, compared with 4.59% for IQQQ.

What is the main difference between IQQQ and JEPI?

IQQQ is categorized as Nasdaq-100, while JEPI is Dividend. They also come from different issuers: ProShares and JPMorgan. Their fees differ too: 0.55% for IQQQ and 0.35% for JEPI.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (2.04 vs 0.90), 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.