JEPQ vs. BALQ

Last updated Jun 24, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and BALQ (iShares Nasdaq Premium Income Active ETF) are both Nasdaq-100 funds. JEPQ is passively managed, while BALQ is actively managed. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.35% expense ratio.

Performance

JEPQ vs. BALQ - Performance Comparison

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

Returns By Period

In the year-to-date period, JEPQ achieves a 7.85% return, which is significantly lower than BALQ's 18.59% return.

JEPQ

• 1D: -2.48%
• 1M: 0.34%
• YTD: 7.85%
• 6M: 7.02%
• 1Y: 25.10%
• 3Y*: 19.79%
• 5Y*: —
• 10Y*: —

BALQ

• 1D: -3.11%
• 1M: -0.12%
• YTD: 18.59%
• 6M: 17.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPQ vs. BALQ - Yearly Performance Comparison

	2026 (YTD)	2025
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	0.36%
BALQ iShares Nasdaq Premium Income Active ETF	18.59%	0.04%

Correlation

The correlation between JEPQ and BALQ is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025	0.95

Return for Risk

JEPQ vs. BALQ — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 66
JEPQ Calmar Ratio Rank: 60
JEPQ Martin Ratio Rank: 74

BALQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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 vs. BALQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares Nasdaq Premium Income Active ETF (BALQ). 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	BALQ	Difference
Sharpe ratio: Return per unit of total volatility	1.93	—	—
Sortino ratio: Return per unit of downside risk	2.57	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.86	—	—
Martin ratio: Return relative to average drawdown	13.55	—	—

Drawdowns

JEPQ vs. BALQ - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, which is greater than BALQ's maximum drawdown of -11.79%. Use the drawdown chart below to compare losses from any high point for JEPQ and BALQ.

Drawdown Indicators

	JEPQ	BALQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-11.79%	-8.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	—	—
Current Drawdown Current decline from peak	-2.48%	-3.71%	+1.23%
Average Drawdown Average peak-to-trough decline	-3.40%	-2.40%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	—	—

Volatility

Volatility by Period

	JEPQ	BALQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.58%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	20.62%	-7.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	20.62%	-3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	20.62%	-3.83%

JEPQ vs. BALQ - Expense Ratio Comparison

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

Dividends

JEPQ vs. BALQ - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.22%, more than BALQ's 4.76% yield.

Position	TTM	2025	2024	2023	2022
BALQ iShares Nasdaq Premium Income Active ETF	4.76%	0.95%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both JEPQ and BALQ in my portfolio?

With a correlation of 0.95, JEPQ and BALQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, JEPQ or BALQ?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEPQ or BALQ?

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

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

JEPQ has the higher dividend yield at 10.22%, compared with 4.76% for BALQ.

What is the main difference between JEPQ and BALQ?

They also come from different issuers: JPMorgan and iShares.