JEPQ.TO vs. USCC.TO

Last updated Jun 24, 2026

JEPQ.TO (JPMorgan Nasdaq Equity Premium Income Active ETF) and USCC.TO (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - JEPQ.TO is a Nasdaq-100 fund actively managed by JPMorgan, while USCC.TO is a Derivative Income fund actively managed by Global X. Both are actively managed. Over the past year, JEPQ.TO returned 30.28% vs 23.79% for USCC.TO. Their correlation of 0.89 suggests significant overlap in exposure. JEPQ.TO charges 0.35%/yr vs 0.49%/yr for USCC.TO.

Performance

JEPQ.TO vs. USCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in JPMorgan Nasdaq Equity Premium Income Active ETF (JEPQ.TO) and Global X S&P 500 Covered Call ETF (USCC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ.TO achieves a 11.92% return, which is significantly higher than USCC.TO's 10.19% return.

JEPQ.TO

• 1D: -2.17%
• 1M: 3.26%
• YTD: 11.92%
• 6M: 11.25%
• 1Y: 30.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCC.TO

• 1D: -0.76%
• 1M: 2.08%
• YTD: 10.19%
• 6M: 9.88%
• 1Y: 23.79%
• 3Y*: 19.10%
• 5Y*: 12.82%
• 10Y*: 12.96%

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

JEPQ.TO vs. USCC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEPQ.TO JPMorgan Nasdaq Equity Premium Income Active ETF	11.92%	10.46%	11.30%
USCC.TO Global X S&P 500 Covered Call ETF	10.19%	9.19%	9.36%

Correlation

The correlation between JEPQ.TO and USCC.TO is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.89

The correlation between JEPQ.TO and USCC.TO has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

JEPQ.TO vs. USCC.TO - Sectors Allocation Comparison

Sectors	JEPQ.TO	USCC.TO
Technology	58.9%	35.6%
Communication Services	13.9%	11.2%
Consumer Cyclical	11.8%	10.1%
Consumer Defensive	6.0%	4.9%
Healthcare	3.9%	8.5%
Industrials	2.8%	8.3%
Utilities	1.1%	2.4%
Basic Materials	0.9%	1.8%
Financial Services	0.3%	11.8%
Energy	0.3%	3.5%
Real Estate	0.2%	1.9%

Return for Risk

JEPQ.TO vs. USCC.TO — Risk / Return Rank

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

JEPQ.TO

JEPQ.TO Risk / Return Rank: 75
JEPQ.TO Sharpe Ratio Rank: 72
JEPQ.TO Sortino Ratio Rank: 68
JEPQ.TO Omega Ratio Rank: 75
JEPQ.TO Calmar Ratio Rank: 80
JEPQ.TO Martin Ratio Rank: 81

USCC.TO

USCC.TO Risk / Return Rank: 80
USCC.TO Sharpe Ratio Rank: 82
USCC.TO Sortino Ratio Rank: 81
USCC.TO Omega Ratio Rank: 85
USCC.TO Calmar Ratio Rank: 74
USCC.TO Martin Ratio Rank: 79

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.

JEPQ.TO vs. USCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income Active ETF (JEPQ.TO) and Global X S&P 500 Covered Call ETF (USCC.TO). 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.

	JEPQ.TO	USCC.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.42	-0.26
Sortino ratio: Return per unit of downside risk	2.91	3.34	-0.42
Omega ratio: Gain probability vs. loss probability	1.41	1.48	-0.06
Calmar ratio: Return relative to maximum drawdown	3.93	3.56	+0.37
Martin ratio: Return relative to average drawdown	15.20	14.46	+0.74

JEPQ.TO vs. USCC.TO - Sharpe Ratio Comparison

The current JEPQ.TO Sharpe Ratio is 2.16, which is comparable to the USCC.TO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of JEPQ.TO and USCC.TO, 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

JEPQ.TO vs. USCC.TO - Drawdown Comparison

The maximum JEPQ.TO drawdown since its inception was -20.05%, smaller than the maximum USCC.TO drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for JEPQ.TO and USCC.TO.

Drawdown Indicators

	JEPQ.TO	USCC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-20.05%	-28.40%	+8.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	-6.71%	-1.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.55%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.40%	—
Current Drawdown Current decline from peak	-3.23%	-0.90%	-2.33%
Average Drawdown Average peak-to-trough decline	-3.32%	-3.16%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.65%	+0.35%

Volatility

JEPQ.TO vs. USCC.TO - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income Active ETF (JEPQ.TO) has a higher volatility of 7.22% compared to Global X S&P 500 Covered Call ETF (USCC.TO) at 3.74%. This indicates that JEPQ.TO's price experiences larger fluctuations and is considered to be riskier than USCC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ.TO	USCC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.22%	3.74%	+3.48%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	8.10%	+3.36%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	9.87%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	13.83%	+3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.70%	14.59%	+3.11%

JEPQ.TO vs. USCC.TO - Expense Ratio Comparison

JEPQ.TO has a 0.35% expense ratio, which is lower than USCC.TO's 0.49% expense ratio.

Dividends

JEPQ.TO vs. USCC.TO - Dividend Comparison

JEPQ.TO's dividend yield for the trailing twelve months is around 9.92%, more than USCC.TO's 9.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ.TO JPMorgan Nasdaq Equity Premium Income Active ETF	9.92%	10.34%	1.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USCC.TO Global X S&P 500 Covered Call ETF	9.52%	10.20%	9.86%	11.45%	10.42%	5.05%	5.17%	5.16%	6.19%	5.56%	5.59%	5.71%

Frequently Asked Questions

Can I hold both JEPQ.TO and USCC.TO in my portfolio?

JEPQ.TO and USCC.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEPQ.TO or USCC.TO?

On fees, JEPQ.TO 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, JEPQ.TO or USCC.TO?

JEPQ.TO is cheaper with a 0.35% expense ratio, compared with 0.49% for USCC.TO.

What is the main difference between JEPQ.TO and USCC.TO?

JEPQ.TO is categorized as Nasdaq-100, while USCC.TO is Derivative Income. They also come from different issuers: JPMorgan and Global X. Their fees differ too: 0.35% for JEPQ.TO and 0.49% for USCC.TO.