JEPI vs. JEPQ

Last updated Jun 20, 2026

JEPI (JPMorgan Equity Premium Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JEPI is actively managed, while JEPQ is passively managed. Over the past 3 years, JEPI returned 9.01%/yr vs 20.83%/yr for JEPQ. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

JEPI vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) 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, JEPI achieves a 1.40% return, which is significantly lower than JEPQ's 10.52% return.

JEPI

• 1D: 0.20%
• 1M: 0.56%
• YTD: 1.40%
• 6M: 1.62%
• 1Y: 9.04%
• 3Y*: 9.01%
• 5Y*: 7.73%
• 10Y*: —

JEPQ

• 1D: 1.61%
• 1M: 3.22%
• YTD: 10.52%
• 6M: 10.65%
• 1Y: 29.09%
• 3Y*: 20.83%
• 5Y*: —
• 10Y*: —

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

JEPI vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPI JPMorgan Equity Premium Income ETF	1.40%	8.09%	12.57%	9.83%	1.59%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.52%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between JEPI and JEPQ is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.66

The correlation between JEPI and JEPQ shifts across timeframes, from 0.50 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

JEPI vs. JEPQ - Sectors Allocation Comparison

Sectors	JEPI	JEPQ
Technology	14.5%	58.9%
Healthcare	12.0%	3.9%
Consumer Cyclical	10.1%	11.8%
Industrials	9.5%	2.8%
Consumer Defensive	8.1%	6.0%
Financial Services	7.4%	0.3%
Communication Services	6.2%	13.9%
Utilities	4.7%	1.1%
Real Estate	2.9%	0.2%
Energy	2.7%	0.3%
Basic Materials	1.6%	0.9%

Return for Risk

JEPI vs. JEPQ — Risk / Return Rank

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

JEPI

JEPI Risk / Return Rank: 31
JEPI Sharpe Ratio Rank: 33
JEPI Sortino Ratio Rank: 33
JEPI Omega Ratio Rank: 32
JEPI Calmar Ratio Rank: 29
JEPI Martin Ratio Rank: 30

JEPQ

JEPQ Risk / Return Rank: 76
JEPQ Sharpe Ratio Rank: 76
JEPQ Sortino Ratio Rank: 72
JEPQ Omega Ratio Rank: 81
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

JEPI vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) 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.

	JEPI	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.13	2.28	-1.15
Sortino ratio: Return per unit of downside risk	1.68	3.02	-1.34
Omega ratio: Gain probability vs. loss probability	1.21	1.45	-0.24
Calmar ratio: Return relative to maximum drawdown	1.36	3.31	-1.96
Martin ratio: Return relative to average drawdown	4.06	15.77	-11.71

JEPI vs. JEPQ - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 1.13, which is lower than the JEPQ Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of JEPI 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

JEPI vs. JEPQ - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JEPI and JEPQ.

Drawdown Indicators

	JEPI	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-20.07%	+6.36%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-8.82%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-20.07%	+6.81%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	—	—
Current Drawdown Current decline from peak	-3.64%	0.00%	-3.64%
Average Drawdown Average peak-to-trough decline	-2.13%	-3.40%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.85%	+0.38%

Volatility

JEPI vs. JEPQ - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 2.35%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.70%. This indicates that JEPI 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

	JEPI	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	5.70%	-3.35%
Volatility (6M) Calculated over the trailing 6-month period	6.30%	10.49%	-4.19%
Volatility (1Y) Calculated over the trailing 1-year period	8.03%	12.83%	-4.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.09%	16.76%	-5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	16.76%	-5.97%

JEPI vs. JEPQ - Expense Ratio Comparison

Both JEPI and JEPQ have an expense ratio of 0.35%.

Dividends

JEPI vs. JEPQ - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.17%, less than JEPQ's 9.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	8.17%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.98%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPI and JEPQ in my portfolio?

JEPI and JEPQ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEPI or JEPQ?

JEPQ has higher volatility (5.70%) compared to JEPI (2.35%). In terms of maximum drawdown, JEPI dropped -13.71% vs JEPQ's -20.07%.

Which ETF is better, JEPI or JEPQ?

On 3-year performance, JEPQ leads with 20.83% vs 9.01% for JEPI. Both ETFs have the same 0.35% expense ratio. On volatility, JEPI has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPI or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.83% return vs 9.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or JEPQ?

JEPI and JEPQ have the same expense ratio: 0.35% per year.

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

JEPQ has the higher dividend yield at 9.98%, compared with 8.17% for JEPI.

What is the main difference between JEPI and JEPQ?

JEPI is categorized as Dividend, while JEPQ is Nasdaq-100.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.28 vs 1.13), 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.